Goldman Sachs is out with its much anticipated 2025 equity outlook to clients and it calls for stocks to gain 11% from here (12% total return with dividends) as a growing economy and improving profit margins fuel sizable earnings growth. “Our view is predicated on continued US economic expansion, earnings growth of 11% in 2025 and 7% in 2026,…
Passengers check in at the Spirit Airlines counter at the Fort Lauderdale-Hollywood International Airport on February 07, 2022 in Fort Lauderdale, Florida. Joe Raedle | Getty Images Spirit Airlines, an icon of budget air travel that reshaped the industry, has filed for bankruptcy protection after years of mounting losses, a failed merger, increased competition and more demanding consumer tastes….
Tesla shares soared 22% to close at $260.48 on Thursday, the stock’s best day since 2013, following the company’s better-than-expected earnings report. The company late Wednesday reported revenue of $25.18 billion, which came in just under analysts’ expectations of $25.37 billion, but was up 8% compared with a year earlier. Tesla reported earnings per share of 72 cents adjusted,…
Boeing workers from the International Association of Machinists and Aerospace Workers District 751 attend a rally at their union hall during an ongoing strike in Seattle, Washington, U.S. October 15, 2024. David Ryder | Reuters Boeing machinists voted against a new labor deal that included 35% wage increases over four years, their union said Wednesday, extending a more than…
The U.S. 10-year Treasury yield rose again Wednesday as traders digested the latest comments from Federal Reserve officials on the trajectory of interest rate cuts. The yield on the 10-year Treasury rose more than three basis points to about 4.24. At its session high, the benchmark rate traded at 4.26%, reaching its highest level since July 26. That move comes…
Billionaire hedge fund manager Paul Tudor Jones is raising alarms about the U.S. government’s current fiscal deficit and the increased spending promised by both presidential candidates, saying the bond market may force the government’s hand after the election in addressing it. “We are going to be broke really quickly unless we get serious about dealing with our spending issues,”…
The S & P 500 will serve up a minuscule return over the next decade that falls far short of the booming gains from the last decade, forecasts Goldman Sachs’ equity strategy team, citing today’s high concentration in just a few stocks and a lofty starting valuation. The broad market index will produce an annualized nominal total return of…
Procter & Gamble on Friday reported weaker-than-expected revenue as lower demand in China again weighed on its sales. The company’s organic sales in Greater China, its second-largest market, fell 15% in the fiscal first quarter. As home prices drop and jobless rates rise in the country, shoppers have pulled back their spending, hurting P&G’s sales for shampoo, diapers and…
Netflix co-founder Reed Hastings attends a red carpet for the Netflix launch at Palazzo Del Ghiaccio on October 22, 2015 in Milan, Italy. Jacopo Raule | Getty Images Netflix shares closed up 11% on Friday after the media streaming giant reported third-quarter earnings and revenue that beat expectations. The company on Thursday reported earnings per share of $5.40 for…
Consumer spending held up in September, underscoring a resilient economy that is now getting a boost from the Federal Reserve, the Commerce Department reported Thursday. Retail sales increased a seasonally adjusted 0.4% on the month, up from the unrevised 0.1% gain in August and better than the 0.3% Dow Jones forecast, according to the advance report. Excluding autos, sales…