SALES FORECAST
Car sales lose pace in June, SUVs stay in front
Passenger vehicle sales in India remained sluggish for the third consecutive month in June due to a high base and reduced post-pandemic pent-up demand. Sales rose 3.7% from a year earlier but slightly declined from May, with 340,784 units sold compared to 328,710 last year. SUVs comprised 53% of sales.
Tata Motors' passenger EV sales dropped 34 pc in June
Tata Motors experiences sales decline in passenger vehicles, including EVs, in June. Despite challenges, the company foresees a recovery in demand, especially with the upcoming festive season. Tata Motors stands ready to capitalize on growth opportunities, driven by a strong SUV portfolio and expanding presence in the international market.
Premium sneaker stampede sweeps India off its feet and Adidas is game for it
The trend of premiumisation is gaining momentum in the footwear, watches, and gym apparel market, with consumers seeking quality, exclusivity, and a deeper connection with their brands. Adidas and Myntra have seen a 30-40% increase in premium options on their website, reflecting this trend. India's large population aspiring for better products and a natural consumer behavior of constantly seeking improvement are driving this trend.
Spot financial trends using this MS Excel tool and make advanced predictions for investing
MS Excel helps recognise the seasonal patterns, allowing investors to make advanced predictions.
Nike stock plunges as gloomy sales forecast fans growth concerns
Nike faces stock woes and market challenges, prompting a potential shift in leadership under CEO John Donahoe's digital-focused strategy. The company's strategic pivots towards sustainability and product revamps aim to counter market pressures, signaling a critical phase for Nike's future direction and management dynamics.
Nike sinks over 18% as gloomy sales forecast fans growth concerns
Nike shares slumped 18.6% in early trade on Friday as a forecast for a surprise drop in annual sales amplified investor concerns about the pace of the sportswear giant's efforts to stem market share losses to upstart brands such as On and Hoka.
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Electric car sales in India to reach 1.3-1.5 lakh in FY25: Report
Electric car sales surged in FY24, with a forecast of 1.3-1.5 lakh units in FY25. The PV industry expects moderate growth, driven by SUV sales and premium vehicle demand, despite challenges in the entry-level segment.
China's May industrial output misses forecasts, retail sales a bright spot
China's industrial output fell below expectations, leading to calls for fiscal and monetary policy support. Retail sales exceeded forecasts, driven by global demand.
Adobe surges 16% as AI optimism fuels annual revenue forecast
The forecast reassured investors that Adobe, a key player in the market for photo and video editing tools, is unlikely to lose customers to AI startups like OpenAI, the creator of Dall-E, which enables users to generate images with simple text prompts.
GDP to grow 8% in FY25 on agriculture, services boost: CII
According to the industry body, the agriculture sector is likely to grow at 3.7% in the current fiscal, compared with 1.4% last year, whereas the services sector may see a growth of 9% against 7.9% a year back.
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.
PlayDoge price prediction – Could this meme coin explode?
PlayDoge, a new P2E crypto project, offers a virtual pet game inspired by Tamagotchi. The $PLAY token allows players to earn rewards and buy upgrades within the PlayDoge universe.
China's factory activity unexpectedly contracts in May
China's manufacturing activity fell in May, with the official factory survey showing a decline. Calls for fresh stimulus persist due to the ongoing property crisis impacting businesses, consumers, and investors.
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.
India's growth outlook: Economy to get a blockbuster release this Friday? But that's too late to stream in poll campaigns
GDP Q4: As the country buzzes with election excitement, India is set to release its GDP growth numbers for the fourth quarter of FY24 this Friday, alongside the full fiscal year figures. Analysts are eagerly awaiting to see if the January to March quarter numbers surpass expectations, fueling hopes of a surprising uptick in growth.
IMF upgrades China's 2024, 2025 GDP growth forecasts but warns of risks ahead
"China's economic growth is projected to remain resilient at five percent in 2024 and slow to 4.5 percent in 2025," the IMF said in a press release, adding the decision was "driven by strong first-quarter GDP data and recent policy measures".
In Focus: Scrips that like a cloud on the horizon
Companies such as Hindustan Unilever (HUL), Britannia, Dabur, Hero Motocorp, Westlife Foodworld, Shoppers Stop and others have already indicated in their commentary a gradual demand recovery if the monsoon forecast turns out to be accurate.
Goldman Sachs expects oil demand to keep growing until 2034
The research division of the bank raised its 2030 crude oil demand forecast to 108.5 million barrels per day (bpd) from 106 million bpd, and expects demand to peak at 110 million bpd in 2034, followed by a long plateau till 2040, analysts led by Nikhil Bhandari said in a report.
Target issues weak forecast as shoppers pull back; shares tumble 10%
Target on Wednesday said it expects consumer caution to persist after it reported quarterly earnings that missed Wall Street estimates and issued a forecast for the current quarter that was also largely below expectations.
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.
Shopify's downbeat revenue growth forecast sends shares plunging 20% to six-month low
The Toronto-listed shares hit their lowest in six months and the company was on track to lose C$25 billion ($18.21 billion) in market value as the dour outlook overshadowed a first-quarter beat.
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.
Apple shares jump 7% as record buyback, sales growth forecast lure investors
Apple shares jumped nearly 7% on Friday as the iPhone maker's record stock buyback plan and promise of sales growth brought back investors who have shunned the stock on concerns over weak demand and increased competition in China.
Eli Lilly rises 6%; company raises 2024 sales forecast by $2 billion
Explosive demand and increased manufacturing capacity for Eli Lilly's weight-loss drug Zepbound drove the company to raise its annual sales forecast by $2 billion on Tuesday, lifting its shares nearly 6%.
2024 forecast to set new record for electric car sales: IEA
IEA foresees 2024 as a groundbreaking year for electric car sales, especially in China. The global electric vehicle sector is poised for significant growth, driven by increasing investments in battery manufacturing and ambitious expansion plans by automakers.
ASML Q1 bookings miss forecast, but China sales hold up
ASML faces lower Q1 bookings but stable China sales despite U.S. restrictions. Anticipates 2025 growth due to demand from TSMC, Nvidia, Apple, and new chip plants. Shares dropped to 873.40 euros.
Levi Strauss surges 20% on profit forecast raise as direct customer sales, cost cuts pay off
Shares of Levi Strauss & Co jumped to a more than two-year high as the jeans maker raised its annual profit forecast, powered by new CEO's cost-cutting initiatives and a focus on direct-to-customer sales.
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