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2022-05-03 08:46:40

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Savings Accounts Retirement Planner CDs Mortgage Rates Sign Up Log In Profile Settings Email & Alerts Watchlist Games MarketWatch Logo Go to the homepage..mw1{fill:#ffffff;}.mw2{fill:#00AC4E;} Latest Watchlist Markets Investing Personal Finance Economy Retirement How to Invest Video Center Live Events MarketWatch Picks More Account Menu Account Settings Log In Sign Up Open Site Search US Europe Asia FX Rates Futures Crypto Asia Dow 0.40% Nikkei 225 -0.11% Hang Seng 0.06% Shanghai 2.41% Sensex -0.15% Singapore 0.65% US Europe Asia FX Rates Futures Crypto Range Dropdown Markets 1D 5D 1M 3M 6M 1Y 2Y Asia Dow 3,400.77 13.50 0.40% Nikkei 225 26,818.53 -29.37 -0.11% Hang Seng 21,101.89 12.50 0.06% Shanghai 3,047.06 71.58 2.41% Sensex 56,975.99 -84.88 -0.15% Singapore 3,356.90 21.81 0.65% S&P 500 Movers EPAM 8.9 ALGN 6.5 KMX 6.2 WBD 6.1 GPN -9.2 IRM -5.6 MCO -4.9 PLD -4.5 Visit Market Data Center Latest News All Times Eastern scroll up scroll down 8:44a DocuSign's 'hyper growth story is essentially over,' Wedbush says in downgrade 8:40a Stifel cuts cannabis industry view as analysts weigh Tilray 8:38a Barron's Rockwell Automation Stock Plunges as Profit Forecast Is Cut 8:36a Gold steadies after rising yields, dollar send bulls ‘out on a stretcher’ 8:34a Spirit Airlines rebuffs JetBlue and sticks with plan to merge with Frontier 8:34a Barron's Western Digital Pushed to Spin Off Flash Business by Activist Investor Elliott 8:34a Citi moving forward with plans to sell Russia units, report says 8:33a U.S. IPO market bracing for second biggest deal of the year so far in eye-care health company Bausch + Lomb 8:32a Updated Cummins stock turns higher after profit declines, while revenue rises above forecasts 8:31a Tesla asks for more time to file proxy, foiling hopes of fresh look into Musk’s holdings to be replaced Latest News Market Snapshot Need to Know Economic calendar Earnings season Inflation War in Ukraine Coronavirus Update Musk and Twitter Financial crime Where to retire The Moneyist Stocks may keep sliding until institutions join retail investors in capitulation, according to RBC team Stocks may keep sliding until institutions join retail investors in capitulation, according to RBC team These stocks soared during the pandemic, and then crashed. Ten are now expected to double in price. Opinion: Big-tech earnings have largely been a disappointment. The more resilient companies have had one thing in common Opinion: These deeper economic shifts threaten to unleash yet more havoc for stocks Leaked draft decision shows Supreme Court intends to overturn Roe v. Wade, Politico reports Lyft vows to pay legal fees for drivers who might be sued under expected Oklahoma abortion law As Supreme Court weighs abortion, ‘the corporate response behind the scenes is growing.’ Here’s what 3 companies are thinking. Court that rarely leaks does so now in biggest case in years Pfizer beats Wall Street estimates as COVID vaccine and antiviral boost revenue Pfizer Inc. undefined posted better-than-expected first-quarter earnings on Tuesday, boosted by sales of its COVID-19 vaccine and antiviral Paxlovid. The company posted net income of $7.864 billion, or $1.37 a share, for the quarter, up from $4.877 billion, or 86 cents a share, in the year-earlier period. Adjusted per-share earnings came to $1.62, well ahead of the $1.49 FactSet consensus. Revenue climbed 77% to $25.661 billion from $14.516 billion a year ago, also ahead of the $24.099 billion FactSet consensus. "We continue to supply the world with (COVID vaccine) Comirnaty, which remains a critical tool for helping patients and societies avoid the worst impacts of the COVID-19 pandemic, and we are on track to fulfill our commitment to deliver at least 2 billion doses to low- and middle-income countries in 2021 and 2022, including at least 1 billion doses this year," CEO Albert Bourla said in a statement. COVID vaccine revenue grew to $13.2 billion from $3.2 billion, while sales of its antiviral Paxlovid rose to $1.5 billion. The company stuck with its full-year guidance for revenue of $98.0 billion to $102.0 billion, which compares with a FactSet consensus of $105.9 billion. It expects COVID vaccine sales of about $32 billion and Paxlovid sales of about $22 billion. It expects adjusted EPS of $6.25 to $6.45, down from earlier guidance of $6.35 to $6.55, due to an accounting change. Shares were up 0.5% premarket but have fallen 18% in the year to date, while the Dow Jones Industrial Average undefined has fallen 9%. PFE -1.49% Biogen CEO Michel Vounatsos to step down Biogen Inc. undefined said Tuesday that it is conducting a search to replace CEO Michel Vounatsos, who will stay in his role unless a successor is named. The announcement was made in the company's first-quarter earnings, which saw Biogen missing Wall Street's expectations for earnings and revenue. Vounatsos has served as CEO since 2017. Biogen's stock is down 13.4% this year, while the S&P 500 undefined has declined 12.8%. BIIB -0.06% Estee Lauder stock tumbles after profit beat but revenue missed, and full-year outlook was cut Shares of Estee Lauder Companies undefined tumbled 9.0% in premarket trading toward a 15-month low after the cosmetics, fragrance and hair care company reported fiscal third-quarter profit that beat expectations but revenue that came up short and cut its full-year outlook. Net income rose to $558 million, or $1.53 a share, from $456 million, or $1.24 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share of $1.90 beat the FactSet consensus of $1.67. Sales grew 9.9% to $4.25 billion but were below the FactSet consensus of $4.32 billion, as skin care sales rose 6% to $2.40 billon, makeup sales increased 9% to $1.11 billion, fragrance sales jumped 28% to $579 million and hair care sales grew 15% to $147 million. The company said it revised its fiscal 2022 outlook given additional headwinds from COVID-19-related restrictions in China and the impact of Russia's invasion of Ukraine. The company cut its sales growth outlook to 7% to 9% from 13% to 16% and adjusted EPS guidance to $7.05 to $7.15 from $7.43 to $7.58. The stock has dropped 29.6% year to date through Monday, while the S&P 500 undefined has she 12.8%. EL -1.30% DuPont shares down 4.5% premarket after earnings beat is offset by Q2 guidance that lags consensus DuPont de Nemours Inc. shares undefined slid 4.5% in premarket trade Tuesday, after the company beat earnings estimates for the first quarter but offered second-quarter guidance that lagged consensus. The specialty materials company posted net income of $488 million, or 42 cents a share, for the quarter, down from $5.394 billion, or 64 cents a share, in the year-earlier period. Adjusted per-share earnings came to 82 cents, ahead of the 67 cent FactSet consensus. Sales rose 9% to $3.274 billion from $3.017 billion, also ahead of the $3.208 billion FactSet consensus. "In the face of continuing unprecedented global supply chain challenges and cost inflation, further intensified during the quarter by the war in Ukraine, we delivered first quarter financial results well ahead of expectations," CEO Ed Breen said in a statement. The company's planned portfolio actions -- it's divesting a large part of the mobility & materials segment and buying Rogers Corp.-- will help it focus on higher growth and higher margin businesses and less on cyclical end markets, he added. DuPont is now expecting second-quarter adjusted EPS of 70 cents to 80 cents and sales of $3.200 billion to $3.300 billion. The FactSet consensus is for EPS of 84 cents and sales of $3.334 billion. It expects full-year adjusted EPS of $3.20 to $3.50 and sales of $13.300 billion to $13.700 billion, compared with a FactSet consensus of 3.40 and sales of $13.476 billion. Shares have fallen 18.4% in the year to date, while the S&PO 500 undefined has fallen 13%. DD -0.05% Powell wants to get rates closer to neutral. But what’s that? Think between 5% and 6%, former top Fed staffer says Don’t panic over the Fed. Probably. Fed’s half-percentage-point interest rate hike seen baked in the cake U.S. stock futures steady on eve of expected half-point Fed hike Opinion: Here’s why European value stocks could top U.S. growth plays over the next decade German 10-year yield tops 1% for first time in nearly seven years Reserve Bank of Australia raises rates for first time since 2010 to tame soaring inflation Earnings Chegg stock plummets toward lowest price in 4 years after annual forecast chopped Food delivery is now a $150 billion business, but uncertainty and lack of profit continue to loom AMD’s earnings outlook expected to give a clearer picture of where the chip sector is headed Cummins stock turns higher after profit declines, while revenue rises above forecasts Earnings: How Wall Street is absorbing results from Molson Coors, Hilton, DuPont and many more Crypto enthusiasts sniff at Buffett, Munger comments on bitcoin. ‘It took them decades before they decided to invest in Apple,’ one analyst says Charlie Munger says he doesn't like bitcoin because its 'stupid,' 'evil,' and makes people look bad At the ‘Mall of Warren Buffett,’ Berkshire Hathaway encourages shareholders to shop till they drop Opinion: I’m a financial adviser, and I’d discourage you from putting bitcoin in your 401(k) What every parent should know about investing for retirement The top financial priority for most Americans? Just getting by I’m 61, left my job due to medical reasons, and made $150,000 from the sale of my home. I’d like to work for at least another 5 years. Can I still retire? If so, how? Here’s ‘Selling the Hamptons’ star Peggy Zabakolas’s advice for luxury home buyers ‘With rates going up, I’m worried I’ll never be able to afford a home’: I only have $15,000 saved for a down payment. Should I wait before buying? ‘I think we’re in the final innings.’ Pimco’s Kiesel thinks the housing market has hit its top Real estate technology stock price targets slashed ahead of earnings as home affordability worsens LATEST PODCAST We were unable to load in stories for you. Please check your browser settings or internet connection. Loading stories we think you might like... Most Popular I inherited ‘a sizable amount’ from my mother. A financial adviser took me out for a free meal at an investment seminar and made ‘some good, interesting points.’ Should I be wary? Pfizer beats Q1 estimates as COVID vaccine and antiviral boost revenue Powell wants to get rates closer to neutral. But what’s that? Think between 5% and 6%, former top Fed staffer says College enrollment is falling. Here's how it could impact the economy Stocks may keep sliding until institutions join retail investors in capitulation, this firm says How will boomers draw down their 401(k) balances? These stocks soared during the pandemic, and then crashed. Ten are now expected to double in price. ‘They don’t have the best marriage’: My stepfather bought a house 20 years ago before marrying my mother. She paid for a new roof and kitchen, but her name is not on the deed Why more workers and companies are switching to freelance gigs ‘We’re seeing real-estate markets transition toward a new normal’: 4 economists and real-estate pros on what to expect from home prices short term and longer term Partner Center Trending Video Go to Video Center 3:36 College enrollment is falling. Here's how it could impact the economy Want more videos from MarketWatch? Subscribe to our channel on YouTube! 3:36 College enrollment is falling. Here's how it could impact the economy 3:15 Why more workers and companies are switching to freelance gigs 3:38 3 ways to hedge your portfolio against inflation 26:06 Securing your retirement in a volatile market 2:30 'Great Resignation': How becoming your own boss affects your taxes 1:04 SpaceX, NASA Flight Takes Off With First Black Woman on Long-Duration Mission 10:07 Big Tech Takes Center Stage 29:14 Financial Face-Off: Debating personal-finance questions 32:19 The Moneyist Live: Solving your real-life financial problems 3:46 How the need for EV battery metals is creating a new gold rush SectorWatch Watch Now FIRE Starters Watch Now MarketBrief Watch Now Watchlist Customize MarketWatch Have Watchlists? Log in to see them here or sign up to get started. Create Account … or Log In Watchlist Menu Add Ticker Symbol Last Change Chg Change % Chg % Volume (Go to Watchlist) No Items in Watchlist There are currently no items in this Watchlist. Add Ticker No Saved Watchlists Create a list of the investments you want to track. Create Watchlist …or learn more Uh oh Something went wrong while loading Watchlist. Go to Watchlist Recently Viewed Tickers No Recent Tickers Visit a quote page and your recently viewed tickers will be displayed here. Search Tickers Markets Gold steadies after rising yields, dollar send bulls ‘out on a stretcher’ Western Digital Pushed to Spin Off Flash Business by Activist Investor Elliott Oil prices pull back, but support seen from refined products Stock Futures Slip as Markets Digest Inflation Data, Anticipate Fed Decision See More Investing Stifel cuts cannabis industry view as analysts weigh Tilray Citi moving forward with plans to sell Russia units, report says Citigroup Inc. CEO Jane Faser said in an interview at the Milken Institute Global Conference that the megabank is moving ahead with the sale of its consumer and commercial banking businesses in Russia. Fraser said the bank is in active discussions, according to a Reuters report of a Bloomberg TV interview with Fraser. Some had worried that the sale had been shelved because of sanctions against Russia. Citigroup has had 3,000 employees in Russia and a total exposure of $9.8 billion, according to filings. Shares of Citigroup are down 19.3% so far in 2022, compared to a 12.8% loss by the S&P 500 . Spirit Airlines rebuffs JetBlue and sticks with plan to merge with Frontier U.S. IPO market bracing for second biggest deal of the year so far in eye-care health company Bausch + Lomb See More Barron's Biogen Searches for New CEO in Wake of Struggles With Alzheimer's Drug Estee Lauder Stock Sinks on Cut to Full-Year Guidance Chegg Falls on Concern That Demand for Its Education Services Is Weakening DuPont Beats Earnings Estimates but the Stock Slips. Confusing Guidance Might Be to Blame. See More Financial Adviser Center Opinion: I’m a financial adviser, and I’d discourage you from putting bitcoin in your 401(k) A majority of workers have confidence in Social Security. Should you? Opinion: Warren Buffett’s investing prowess will go on forever after researchers cracked his investing code Red stock, blue stock — MAGA Republicans and liberal Democrats are taking their politics to Wall Street See More Economy & Politics Trump-backed Senate hopeful Vance narrowly ahead in Ohio primary polls as key tests loom for ex-president Here’s how Biden could move to cancel student loans Trump said ‘can’t you just shoot’ protesters in June 2020, former DOD secretary Mark Esper claims in new book Recession is ‘almost inevitable’: former Fed Gov. Ferguson says See More Retirement Don’t panic about the Fed (maybe) The irony of gambling with your retirement money to buy bitcoin: it makes the most tax sense How will boomers draw down their 401(k) balances? What moms should know about retirement savings See More Personal Finance 10 top hybrids for less than $30,000 To protect your privacy, here’s how to limit tracking and data collecting with a few simple device settings Americans lowered their credit card debt since the pandemic, but inflation could reverse the trend It’s time to stop putting off going to college; here are all the reasons why (1.2 million, to be exact) See More The Moneyist ‘I don’t want to come across as greedy.’ My stepfather promised to take care of me and my sister in his will, but I’m not sure how to broach this topic with his children. ‘They don’t have the best marriage’: My stepfather bought a house 20 years ago before marrying my mother. She paid for a new roof and kitchen, but her name is not on the deed ‘I’m spending a fortune on home maintenance. I realize my second husband is essentially living in my house for free’: What is a fair way to split costs? ‘He has thrashed her new condo beyond anything I’ve ever seen in my life’: My wife’s son, 30, has lived with us for 5 years. He earns $150,000, but pays no bills See More How to Invest No matter your age, here’s how to tell if your finances are on the right track Should I use a 401(k) or an IRA to save for retirement? A traditional account or the Roth version? Here’s what to know These 5 great, easy-to-read books about money will change how you think about investing Robo-advisers give you decent financial advice on the cheap See More Coronavirus Updates Dr. Fauci clarifies remarks, says ‘pandemic is not over’ yet — the U.S. is merely out of ‘acute’ phase Trump could have reduced COVID deaths by 30% or even 40%, Deborah Birx testifies No vaccine requirement for Wimbledon players — ‘whilst, of course, [vaccination] is encouraged,’ says All England Club ‘COVID ruined all my plans to travel overseas’: As prices and coronavirus cases rise, Americans are conflicted about their long-awaited ‘revenge travel’ summer See More Picks ‘I can’t afford to pay the loan because I’m on a fixed income.’ I’m a 57-year-old widow with $67K in student loan debt. Can you help me get rid of it? One surprising question you should ask any financial adviser you might hire — their answer could be a huge red flag 5 awesome credit card perks to consider now (psst: one saved this money pro $299 on an Apple Watch repair) ‘I am new to investing and looking for a financial adviser.’ Are there certain things newbies like me should be watching for? See More Retirement Weekly Seniors want to stay at home, but they may need help with daily living. Should they hire a concierge? What value do mutual fund dividends provide? News and analysis for those planning for or living in retirement Investing in a green recovery See More Real Estate A median-priced new home in the U.S. is roughly $77,000 more expensive than it was a year ago ‘With rates going up, I’m worried I’ll never be able to afford a home’: I only have $15,000 saved for a down payment. Should I wait before buying? ‘I think we’re in the final innings.’ Pimco’s Kiesel thinks the housing market has hit its top Redfin to pay $4 million to settle lawsuit alleging housing discrimination See More Mansion Global Cool and Connected: Smart Fridges Fit for Your Kitchen An Ibiza Home Within a UNESCO World Heritage Site Combines Old and New Newly Built Home With ‘Panic Room’ Lists for £2.5 Million on ‘Millionaire’s Row’ in U.K.’s Solihull San Francisco Condo Featured in ‘The Matrix: Resurrections’ Lists for $4.2 Million See More Partner Content Partner Content × Back to Top MarketWatch Logo Go to the homepage..mw1{fill:#ffffff;}.mw2{fill:#00AC4E;} Copyright © 2022 MarketWatch, Inc. All rights reserved. By using this site you agree to the Subscriber Agreement & Terms of Use, Privacy Notice, and Cookie Notice (). 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