Target Misses Earnings Metrics as Margins Collapse on Soaring Expenses

Retail giant Target Corporation on Wednesday reported worse than expected first-quarter earnings missing on major metrics. $TGT shares fell over 26%. Competitor Walmart reported yesterday and also sold off on its earnings miss for its largest single-day percentage decrease since 1987. Target management said fuel and freight costs will be $1 billion higher this year than it had expected, with little sign of their easing throughout 2022.  Target Corporation NYSE: TGT Reported Earnings Before Market Open Wednesday  $1.09 Missed $1.11 … Continue reading “Target Misses Earnings Metrics as Margins Collapse on Soaring Expenses”

Home Depot Delivers Record Sales and Raises Guidance and Margins

Home Improvement Retailer Home Depot was in a position to take advantage of the upsurge in construction and renovation. $HD sales rose to the highest ever for the first quarter of the year. The company is still seeing healthy demand, even in the face of rising prices and a shaky housing market and raised guidance accordingly. Earnings HD earnings per share were $4.09, up from $3.86 a year earlier. Analysts expected earnings of $3.69 a share. First-quarter sales climbed to … Continue reading “Home Depot Delivers Record Sales and Raises Guidance and Margins”

Walmart Earnings Hit by Inflation, Lowers Forward Guidance

Retail giant Wal-Mart on Tuesday reported worse than expected first-quarter earnings and cut its full-year profit forecast, as surging costs cut into the bottom line of the world’s biggest retailer. WMT said it sees earnings falling by around 1%, compared to a prior forecast of a 5% to 6% increase. The stock was down 7% Premarket. “Bottomline results were unexpected and reflect the unusual environment. U.S. inflation levels, particularly in food and fuel,” said CEO Doug McMillon. Walmart Inc NYSE: … Continue reading “Walmart Earnings Hit by Inflation, Lowers Forward Guidance”

Ford Sells Almost 8% in Electric Truck Developer Rivian Automotive as Soon as Allowed

Electric truck developer Rivian Automotive raised $11.9 billion to become the largest IPO of 2021. RIVN stock surged as high as $179 per share before crashing in 2022 to $20.88 on Monday following the expiration of the company’s IPO lockup period. Ford Motor sold off about 8% of its stockholdings pushing shares to an all-time low. Ford stock sold off also, down nearly 6% on the day. At one point Ford and Amazon had booked massive unrealized profits on their … Continue reading “Ford Sells Almost 8% in Electric Truck Developer Rivian Automotive as Soon as Allowed”

Under Armour Transition Quarter Hit by Chinese Covid19 Lockdown Disrupting Inbound Freight

Sporting apparel maker Under Armour reported worse than expected first quarter earnings as the Covid forced closures in China led to worsening supply chains for the second straight quarter in Q1. $UAA shares fell over 23% pre-market. Under Armour competes with Nike, Adidas and Lululemon. Under Armour Inc Class A NYSE: UAA Reported Earnings Before Open Friday ($0.01) Missed Exp $0.04 EPS AND Matched $1.3 Billion Revenue Forecast Earnings Under Armour Inc. (NYSE: UAA) reported first-quarter results before the open … Continue reading “Under Armour Transition Quarter Hit by Chinese Covid19 Lockdown Disrupting Inbound Freight”

Nasdaq Crashes to Worse Month Since 2008 in Tech Wreck.

The technology heavy Nasdaq Composite crashed to its worst monthly performance in more than a decade Friday. April was historically the best month for stocks from a seasonality perspective, the ongoing market volatility and headwinds put paid to that. Trillions of dollars in market value have been wiped off. The Nasdaq fell 4.2% Friday, its losses for the month over 13%, its worst effort since October 2008. The index is down 21% in 2022, its worst start to a year … Continue reading “Nasdaq Crashes to Worse Month Since 2008 in Tech Wreck.”

Tesla Delivers Record Earnings Despite Global Supply Chain Headwinds

Tesla reported record Q1 earnings after the market close Wednesday. The takeaway was $TSLA with the foresight of tying up key commodities such as nickel, rare earths and lithium earlier got them ahead of the inflation curve. This made the company able to relentlessly focus on manufacturing. From that gross automotive margin were 30.5%, up from 28.4% over the previous quarter. Even excluding credit sales, operating profit was a record and much better than Wall Street expected. What excited the … Continue reading “Tesla Delivers Record Earnings Despite Global Supply Chain Headwinds”

Smart Safety Syringes Maker Sharps Technology Closes Initial Public Offering

Medical device company Sharps Technology announced the closing of its initial public offering at $4.25 on Friday. The company has patented, best-in-class, single use smart safety syringe products. The common stock and warrants began trading on The Nasdaq Capital Market under the symbols “STSS” and “STSSW,” respectively. Sharps Provensa™ is their premier line of smart safety syringes. The firm says that offer solutions to global healthcare crises such as the 1-2 billion syringe shortage forecasted by the World Health Organization (WHO) … Continue reading “Smart Safety Syringes Maker Sharps Technology Closes Initial Public Offering”

Morgan Stanley Advisory Revenue Nearly Doubled Offsetting Weakness in Underwriting

Morgan Stanley reported better than expected first quarter earnings before the bell Thursday on stronger-than-expected advisory revenue and equity income trading up 10%. $MS release follow major competitor Goldman Sachs and four of the largest U.S. lenders Wells Fargo, Citigroup and PNC reporting mixed results. Morgan Stanley’s wealth management division continues to drive of consistent results, Morgan Stanley NYSE: MS Reported Before Open Thursday $2.01 Beat $1.91 EPS AND $14.5 Billion Missed $14.56 Billion Forecast in Revenue MS Q1 2022 … Continue reading “Morgan Stanley Advisory Revenue Nearly Doubled Offsetting Weakness in Underwriting”

Wells Fargo Revenue Falls in Consumer, Corporate and Investment Banking

Wells Fargo (NYSE: WFC) kicked off first quarter earnings with the other major money center banks along with America’s largest money center banks this week. WFC’s adjusted profit of 88 cents a share did beat expectations, but revenue missed across all segments. Wells Fargo reminded us of its regulatory issues with a 460 million increase in operating losses primarily driven by customer remediation expenses., Reporting also this week were JPMorgan Chase (JPM) Goldman Sachs (GS), PNC Bank (PNC), Morgan Stanley … Continue reading “Wells Fargo Revenue Falls in Consumer, Corporate and Investment Banking”