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Moody's Shares Drop On Mixed Q1 Results, FY22 Guidance Cut

Moody's Corp (NYSE:MCO) reported a first-quarter FY22 revenue decline of 5% year-on-year to $1.52 billion, beating the consensus of $1.51 billion. Revenue for MIS was $827 million, down 20% Y/Y as geopolitical concerns, rising yields, and elevated market uncertainty affected issuance in all asset classes. Foreign currency translation unfavorably impacted MIS revenue by…

Benzinga

Reckitt Benckiser Hikes Prices To Compensate For Falling Demand: FT

Reckitt Benckiser Group Plc (OTC:RBGLY) (OTC:RBGPF) has hiked prices across its product range to pass an increase in raw material costs onto customers, the Financial Times reported. The move comes after the consumer giant said that inflation on the cost of goods sold has increased from low teens to high teens based on current…

Benzinga

Hertz Chief Sees Business Travel Recovery Choking Already Strained Used Car Supply: CNBC

Hertz Global Holdings, Inc (NASDAQ:HTZ) chief Stephen Scherr saw a recovery in business travel and possibly choking the already packed supplies of rental cars, CNBC’s Jim Cramer reports. However, the rebound of business travel is still in its early stages compared to leisure travel, Scherr said. He saw the in-bound visitor from…

Benzinga

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Tesla Recalled Model 3 Cars In China In April Again - Read Why

Tesla, Inc (NASDAQ:TSLA) recalled 14,684 imported and locally made Model 3 cars in China on software problems as previously declared by the market regulator, Reuters reports. The recall marked Tesla's second batch of recalls in April. Also Read: BREAKING: Tesla Recalls 127,785 Model 3 Vehicles In China Over Manufacturing Defects The regulator said…

Benzinga

First Solar Clocks Sharp Q1 Revenue Drop, Still Reaffirms FY22 Outlook

First Solar, Inc. (NASDAQ:FSLR) reported a first-quarter FY22 sales decline of 54.3% year-over-year to $367.04 million, missing the consensus of $592.68 million. The revenue tumbled due to a decrease in module sold volume, a decrease in the module average selling price, and lower project revenue in Japan. The gross margin fell sharply…

Benzinga

Roku Shares Gain After Q1 Revenue Beat, 1.1M incremental Active Accounts

Roku Inc (NASDAQ:ROKU) reported first-quarter FY22 revenue growth of 28% year-over-year to $733.7 million, beating the consensus of $718.31 million. Platform revenue increased 39% Y/Y to $647 million. In Q1, Roku added 1.1 million incremental Active Accounts to reach 61.3 million; Streaming Hours increased by 1.4 billion hours over the…

Benzinga

Why Caterpillar Shares Are Trading Lower Today

Caterpillar Inc (NYSE:CAT) reported first-quarter FY22 sales and revenue growth of 14.3% year-over-year to $13.59 billion, beating the consensus of $13.40 billion. Revenue growth was driven by higher sales volume and favorable price realization, partially offset by unfavorable currency impacts. Segment Revenue: Construction Industries $6.12 billion (+12% Y/Y), Resource Industries $2.83 billion (+30%…

Benzinga

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Baidu Aims To Expand Robotaxi Service By 2025; Looks To Become Profitable In 3 Years

Search giant Baidu, Inc (NASDAQ:BIDU) plans to deploy cars without humans behind the wheel on Chinese roads for the first time, Bloomberg reports. Baidu looks to expand Apollo Go into 65 cities across China by 2025 and 100 cities by 2030. The ride-hailing platform currently has about 300 cars nationwide, with each vehicle…

Benzinga

Domino's Pizza Shares Slide On Q1 Earnings Miss Due To Inflationary Pressure

Domino's Pizza Inc (NYSE:DPZ) reported first-quarter FY22 sales growth of 2.8% year-on-year to $1.01 billion, missing the consensus of $1.03 billion. Global retail sales increased 3.6%, excluding the negative impact of foreign currency. Without adjusting for the impact of foreign currency, global retail sales grew 0.3%. Same-store sales in the U.S. fell 3.6%,…

Benzinga

McDonald's Shares Gain on Q1 Earnings Beat, Global Comp Sales Growth

McDonald’s Corp (NYSE:MCD) reported first-quarter FY22 sales growth of 11% year-on-year to $5.67 billion, beating the consensus of $5.59 billion. Global comparable sales rose 11.8%, with 3.5% growth in the U.S. Digital systemwide sales exceeded $5 billion, representing over 30% of total systemwide sales in the company's top six markets. Sales by company-operated…

Benzinga

Volkswagen Plans To Expand Chattanooga Plant In US To Focus On EVs: Reuters

Volkswagen AG (OTC:VWAGY) plans to expand its Chattanooga plant in the U.S. to produce an electric pick-up and the new ID.Buzz microbus, Reuters reported. The move is expected to grow the company’s market share in North America. The carmaker plans to invest at least $7.1 billion over the next five years in…

Benzinga

Russian Court Penalizes YouTube, Twitter Again - Read Why

A Russian court has penalized U.S. internet giant Alphabet Inc's (NASDAQ:GOOG) (NASDAQ:GOOGL) Google 3 million roubles ($41,000) for refusing to remove banned content from YouTube, Reuters reports. The Russian court has also punished social media network Twitter, Inc (NYSE:TWTR) with 3 million roubles ($41,000) for not removing banned content from its site. Also Read: Facebook, Apple,…

Benzinga

How 'Cranks' Advance Science

A major lesson of the pandemic is that science is "not a priesthood," says Dr. Jeffrey A. Singer, a general surgeon and senior fellow at the Cato Institute.

Reason

Boeing Stock Slides On Q1 Results, Loss Widens

Boeing Co (NYSE:BA) first-quarter revenue declined 8% year-over-year to $13.99 billion, missing the consensus of $15.83 billion. Adjusted EPS loss widened to $(2.75) from $(1.53) in 1Q21. The adjusted operating margin declined to (10.4)% compared to (2.4)% a year ago. GAAP operating margin was (8.4)% versus (0.5)% last year. Revenue by segments:…

Benzinga

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Benzinga

Harley-Davidson Clocks 5% Revenue Growth In Q1; Margin Shrinks Due To Supply Chain Constraints

Harley-Davidson Inc (NYSE:HOG) reported first-quarter FY22 sales growth of 5% year-on-year to $1.49 billion. Revenue from the Motorcycles and Related Products segment (HDMC) was $1.3 billion, up 6% Y/Y. Harley-Davidson's EPS of $1.45 was in line with the analyst consensus. Revenue from Motorcycles increased 4%, Parts & Accessories rose 11%, Apparel climbed 2%,…

Benzinga

Indonesia's Cooking Oil Export Ban Pumps Up Palm, Soyabean Oil Prices

Palm oil jumped 10% while rival soybean oil hit a fresh record high as traders gear up Indonesia's export halt till the domestic cooking oil prices ease, Bloomberg reports. The policy has agitated the global $50 billion palm oil market as Indonesia initially said it would ban all exports of cooking…

Benzinga

Kellogg Sues British Government Over New Sugar Rules: Reuters

Kellogg Co (NYSE:K) is suing the British government over new rules stopping the display of its breakfast cereals in grocery stores due to high sugar content, Reuters reported. The company said the formula being used by the government to measure the nutritional value of cereals was wrong and not legally implemented. "It…

Benzinga

Walmart+ Offers Fuel Discount To Members

Walmart Inc (NYSE:WMT) said members of its Walmart+ program would receive an instant discount of up to 10 cents on every gallon of fuel they purchase at participating fuel stations. Walmart+ fuel discount is available at more than 14,000 stations with the addition of 12,000 Exxon Mobil Corp (NYSE:XOM) Exxon and Mobil locations across the…

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Benzinga

Analysts Share Their View On Activision Blizzard Post Q1 Performance

Analysts offered their views on Activision Blizzard, Inc (NASDAQ:ATVI) post Q1 FY22 results. Raymond James saw ATVI's Q1 results significantly below expectations, driven by continued weakness in Call of Duty and a low ebb of content in Blizzard. It continued to see sizable headwinds for Call of Duty through the rest of the year until the anticipated release…

Benzinga

Sherwin-Williams Posts Q1 Earnings Above Street View

Sherwin-Williams Co (NYSE:SHW) reported first-quarter FY22 sales growth of 7.4% year-on-year to $4.99 billion, beating the consensus of $4.91 billion. The increase in sales was driven by selling price increases in all segments and higher product sales volume in the Performance Coatings Group. Sales from stores in the U.S. and Canada rose 3.8%…

Benzinga

GE Stock Slides After Q1 Earnings, Warns On Inflation Pressure

General Electric Co (NYSE:GE) reported first-quarter FY22 adjusted revenue of $16.3 billion flat year-over-year and organic revenues of $16.43 billion, up 1% Y/Y. Total GAAP revenues were flat at $17.04 billion. Total orders increased by 11% Y/Y to $18.9 billion and +13% on an organic basis. Adjusted EPS was $0.24, an increase of…

Benzinga

Biden Administration Reverses Trump's Effort To Open More Land For Oil Drilling In Arctic: CNBC

The Biden administration reversed a Trump administration plan that allowed the government to lease more than two-thirds of the country’s largest swath of public land to oil and gas drilling, writes CNBC. The Bureau of Land Management’s decision will shrink the amount of land available for lease in the National Petroleum Reserve in…

Benzinga

Whirlpool Shares Volatile Afterhours On Q1 Earnings Miss, Trimming FY22 Outlook

Whirlpool Corporation (NYSE:WHR) reported a first-quarter sales decline of 8.2% year-over-year to $4.92 billion, missing the consensus of $5.32 billion. Adjusted EPS was $5.31, missing the consensus of $5.36. Whirlpool states it recorded robust sales growth compared to pre-pandemic levels with healthy underlying consumer demand. Sales by region: North America $2.79 billon…

The Conversation

Remaking history: using Ancient Egyptian techniques, I made delicious olive oil at home – and you can too

In this series, academics explain the ways they are recreating historical practices, and how this impacts their research today.

Benzinga

Alibaba Continues Restructuring; CEO Daniel Zhang Steps Down From Tmall, Taobao

Alibaba Group Holding Ltd (NYSE:BABA) Chair and CEO Daniel Zhang stepped down as Chairman and General Manager of Zhejiang Tmall Technology Co., Ltd. and Taobao (China) Software Co., Ltd, the Pandaily reports. Trudy Dai will succeed Zhang. There are currently 16 companies under Zhang’s name, six of which he holds the position…

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