US Stock Reports, Quotes and News
Investing.com– Asian chipmaking stocks fell sharply on Friday after sector major TSMC flagged a weak outlook for the semiconductor industry, even as demand from artificial intelligence helped the firm clock stronger first-quarter earnings.
(Reuters) – Snap-On missed Wall Street estimates for first-quarter sales on Thursday, as vehicle service and repair technicians bought fewer tools and equipment made by the company, offsetting steady demand for its products from auto dealerships.
Investing.com– Taiwan Semiconductor Manufacturing Corp (TW:2330) (NYSE:TSM), or TSMC, clocked a stronger-than-expected first-quarter profit on Wednesday as the world’s largest contract chipmaker benefited from increased demand in the rapidly-growing artificial intelligence industry.
EasyJet (ESYJY) shares added over 3% in London trading Thursday after the company said it expects a narrower headline pretax loss for the first half of 2024 amid growing demand for summer bookings.
(Reuters) – U.S. trucking firm JB Hunt (NASDAQ:JBHT) Transport Services missed Wall Street estimates for first-quarter results on Tuesday, hurt by a decline in revenue in its biggest segment and pricing pressures at its brokerage business.
Federal Reserve Vice Chair Philip Jefferson, in remarks devoid of any mention of interest rate cuts, said on Tuesday \”it will be appropriate to hold in place the current restrictive stance of policy for longer\” if inflation fails to slow as expected.
In China, the world\’s biggest oil importer, the economy grew faster than expected in the first quarter, but several March indicators, including property investment, retail sales and industrial output, showed that demand at home remains frail, weighing on overall momentum.
Taiwan Semiconductor Manufacturing Co, the dominant producer of advanced chips used in artificial intelligence applications, is expected to report a 5% rise in first-quarter profit on Thursday thanks to strong demand.