FULL YEAR PROFIT FORECAST
Samsung Electronics forecasts major Q2 profit jump
Samsung Electronics said Friday it expects second-quarter operating profits to rise more than 15-fold on-year as chip prices bounce back and demand for generative AI continues to grow. The world's largest memory chip maker said in a regulatory filing that its April-June operating profits were expected to rise to 10.4 trillion won ($7.54 billion), up 1,452.2 percent from 670 billion won a year earlier.
Ixigo’s Q4 net profit jumps 55%, triples for full year
Revenue at the online travel booking platform grew at a relatively slower pace in the fourth quarter, given the slowdown in air travel and reserved train ticketing segments.
FedEx climbs on cheery annual profit forecast, freight business review
FedEx shares jumped 13% premarket on Wednesday after the delivery giant reassured investors with a largely upbeat annual profit forecast and said it would weigh options for its less-than-truckload business that one analyst valued at $30 billion.
Goldman Sachs boosts S&P 500 target on upbeat profit outlook
Goldman Sachs Group Inc. raises S&P 500 year-end target to 5,600, reflecting optimism for earnings growth and the US economy.
Go Digit hits second year of profit in FY24, shares surge
The company's shares were up nearly 10% in the early trade on Wednesday, the stock closed at Rs 341,75, up 1% from the previous day. In the last quarter of FY24, Go Digit reported Rs 2,336 crore worth of gross premium collected, up 19.4% from Rs 1,955 crore in the prior quarter. For the full year, the company collected Rs 9,016 crore in premiums, marking a 24% rise from Rs 7,243 crore in FY23.
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Hewlett Packard surges over 12% as AI-server demand powers strong results
Analysts at Bernstein said this suggests potential for HPE and peer Dell Technologies to have "very strong shipments over the next quarter or two as they deliver on backlog", but it depends upon customers being willing to take deliveries earlier.
European shares slip as energy counters weigh
European shares slipped on Tuesday as weakness in crude prices dragged energy stocks, while investors refrained from placing huge bets before the European Central Bank's interest rate decision later this week.
Gap surges 22% as apparel maker's turnaround strategy starts to pay off
Shares of Gap climbed as much as 22% on Friday after the apparel retailer lifted its full-year sales forecast signaling that its turnaround strategy of bringing in newer styles is starting to work.
Salesforce plummets 18% as weak forecast sparks concerns of AI competition
Salesforce shares slumped about 18% on Thursday, after its lowest-ever quarterly revenue growth forecast raised fears that high interest rates and rival AI offerings were hampering demand at the cloud-based software firm.
Wall Street ends lower amid rate concerns, higher bond yields
Stocks declined following the Beige Book release, showing U.S. economic expansion and reduced rate cut expectations, per CME FedWatch Tool.
Large Indian banks are expected to improve their asset quality in the current fiscal: S&P
India's top banks are set for asset quality improvement in the fiscal year, driven by record profits, which will enhance their balance sheets and underwriting standards. Despite a rise in HDFC Bank's nonperforming loans post-merger, all major banks reported record profits. Retail loans drive growth amid moderating credit expansion expectations.
Capacit'e Infraprojects Q4 Results: PAT more than doubles to Rs 52 crore
Capacit'e Infraprojects has said its consolidated profit after tax more than doubled to Rs 52 crore for the March 2024 quarter, on account of higher income. It had posted a Profit After Tax (PAT) of Rs 22 crore in the year-ago period, the company said in a regulatory filing late Tuesday.
Divi’s Laboratories shares rally 5% post Q4 results. Should you buy, sell or hold?
Divi’s Laboratories saw a 5% surge in its shares on the BSE during Monday's trading session, reaching a new 52-week high of Rs 4,335. This rise came as brokerages such as Motilal Oswal and InCred expressed bullish sentiment towards the stock, following the company's impressive performance in Q4, where it reported a 68% year-on-year increase in profits, reaching Rs 538 crore.
Strides Pharma Q4 Results: Firm posts net profit of Rs 10 crore vs loss YoY
Strides Pharma Science Ltd reported a net profit of Rs 10.44 crore in Q4 ended March 2024. The company announced Arun Kumar as Executive Chairperson. Consolidated total income was Rs 1,070.49 crore with expenses at Rs 984.21 crore. A final dividend of Rs 2.50 per equity share was recommended. FY24 revenue grew driven by US and regulated markets.
LT Foods Q4 Results: Net profit rises 14% YoY on strong sales
LT Foods, owner of basmati rice brands 'Daawat' and 'Royal', on Friday posted a 14 per cent jump in consolidated net profit at Rs 150.24 crore for the fourth quarter of fiscal 2023-24 on robust sales. The company's profit stood at Rs 131.81 crore a year earlier.
M&M mcap hits Rs 3 lakh crore; shares hit 52-week high
The market valuation of Mahindra & Mahindra hit the Rs 3.12 lakh crore-mark for the first time on Friday, as the company's shares touched 52-week high on the bourses.
Go Digit Insurance IPO: Retail portion fully booked even as overall demand remains steady on Day 1
Virat Kohli bought 2.66 lakh shares of the company for Rs 2 crore in 2020, while Anushka Sharma invested 50 lakh through a private placement. Currently, Go Digit IPO GMP is Rs 45, slightly lower than the previous week.
Go Digit IPO sails through on Day 3. Check GMP and other details
Go Digit General Insurance IPO saw oversubscription and strong retail investor interest. Backed by celebrity investors, the company plans to enhance capital with the IPO proceeds, focusing on growth and empowering distribution partners.
Go Digit Insurance IPO subscribed 79% on Day 2, retail portion booked 254%. Check GMP, other details
Go Digit Insurance's IPO was subscribed 79% on the second day of the bidding process. The retail portion was fully subscribed at 2.54 times, while the non-institutional investors' portion reached 0.73 times. Qualified institutional buyers' quota was subscribed 0.24 times.
Walmart lifts full-year sales and profit forecast, shares soar 7% to hit record high
Walmart raised its full-year forecast and reported better-than-expected first-quarter results on Thursday, betting that easing inflation will drive stronger sales of groceries and non-essential merchandise like clothing and electronics, sending its shares to a record high.
Walmart lifts full-year sales and profit forecast, shares rally
The company now expects adjusted core profit between $250 million and $270 million, compared to its earlier forecast of $180 million to $200 million.
PFC examining RBI's draft norms on project financing, sees no impact on profitability
State-run Power Finance Corporation (PFC), India's largest power sector lender, stated that the Reserve Bank of India's draft guidelines on infrastructure project financing will not impact its profitability. The company has sufficient capital adequacy to counter the provision if implemented. PFC reported an 18.4% increase in net profit for the March quarter and a 25% increase for the full financial year. The company's balance sheet crossed ₹10 lakh crore in FY24, with improved asset quality and lower NPAs. PFC's executive director Sandeep Kumar has been appointed as the chief financial officer.
Virat Kohli-backed Go Digit IPO opens for subscription. Should you bid?
Go Digit Insurance IPO opens today and closes on May 17. The IPO includes a fresh equity issue of Rs 1,125 crore and an offer for sale of up to 5.47 crore shares. Virat Kohli and Anushka Sharma will retain their investments.
Airbnb slumps over 6% as gloomy Q2 forecast fans slowdown fears
Airbnb shares tumbled more than 6% in early trading on Thursday after weak forecasts for the second quarter stoked investor fears about slowing growth at the vacation rental firm and took the shine off a strong quarterly profit beat.
Airbnb shares slide on lower revenue forecast despite a doubling of net income
Earnings growth was partly driven by a shift in the Easter holiday, which came during the first quarter this year versus the second quarter in 2023. Easter is a significant travel holiday.
Uber forecasts gross bookings for second quarter below expectations
Uber projects lower second-quarter gross bookings due to ride-share and food delivery challenges, exceeding core profit expectations. Lyft excels in industry-wide growth and logistics services, while Uber offers a wider range of services globally.
Reddit's strong forecasts spark share surge after first results since IPO
The earnings report - the first since Reddit went public in March - also included a revenue forecast for the current quarter that was above Wall Street estimates, as more people flock to the social media platform behind 2021's meme-stock frenzy.
DBS sees net profit rising this year after Q1 beats forecasts
"While geopolitical tensions persist, macroeconomic conditions remain resilient and our franchise is well positioned to capture business opportunities," DBS Chief Executive Officer Piyush Gupta said in a statement.
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