Andrew Ross SorkinDarden Restaurants reported mixed quarterly earnings, with adjusted earnings of $1.97 per share and total revenue of $3.04 billion. Despite strong performances from Olive Garden and LongHorn Steakhouse, shares fell by over 9%. The company raised its revenue growth forecast, anticipating a 7.5% to 8.5% increase for the year ahead.
Andrew Ross SorkinFedEx exceeded earnings expectations for its fiscal first quarter, with adjusted earnings per share of $3.83 and revenue of $22.24 billion. Shares rose over 5% post-announcement. CEO Raj Subramaniam highlighted operational resilience despite global trade uncertainties and outlined a spin-off plan for FedEx Freight by June 2026, aiming to enhance shareholder value.
Andrew Ross SorkinJPMorgan Chase will release its third-quarter earnings report, with expectations of $4.84 per share on $45.4 billion in revenue. Solid performance stems from robust trading, consumer spending, and a favorable regulatory environment. This week, other major banks will also report, highlighting the disparity between large institutions and regional lenders amidst market fluctuations.
Andrew Ross SorkinCarMax shares dropped 20% after quarterly earnings and revenue fell below expectations, marking the lowest stock price since March 2020. Revenue was approximately $6.6 billion, down 6% year-over-year, with net income declining 28%. CEO Bill Nash described the quarter as “challenging,” attributing poor results to market shifts and inventory depreciation.
Andrew Ross SorkinH&M’s shares rose 8.3% following a strong third-quarter report, revealing a 40% increase in operating profit to 4.9 billion krona, surpassing analyst expectations. The company cited positive momentum from its restructuring efforts, store closures, and digital transformation. However, concerns remain regarding potential U.S. import tariffs impacting prices.
Andrew Ross SorkinCarMax shares fell nearly 20% after the company reported disappointing quarterly earnings and revenue, reaching their lowest level in over five years. The decline was attributed to reduced vehicle sales, higher financing costs, and weakened demand. CEO Bill Nash acknowledged challenging conditions but expressed hope for improved inventory and pricing alignment in the future.
Andrew Ross SorkinCostco reported strong quarterly results, surpassing analyst expectations with earnings of $5.87 per share and revenue of $86.16 billion. Membership income grew significantly, aided by a strategic pivot to U.S.-made goods amidst tariffs. E-commerce surged, attracting younger consumers. Despite minor stock declines post-announcement, Costco remains a leader in value retailing.
Andrew Ross SorkinThe SEC is reviewing President Trump’s proposal to switch public companies from quarterly to semi-annual reporting, aiming to cut compliance costs and streamline operations. This change could significantly impact the revenue of the Big Four accounting firms, although some anticipate potential new business from increased IPOs. The proposal reflects a broader trend toward deregulation.
Andrew Ross SorkinEnergy companies are responding to declining crude oil prices by implementing job cuts and reducing costs, jeopardizing shareholder payouts. Once flush with profits, firms like ExxonMobil and BP are shifting from generous dividends to austerity measures to maintain financial stability. The industry faces a new reality of restraint over rewarding investors.
Andrew Ross SorkinApplied Digital’s stock surged 30% after reporting first-quarter results, driven by increased demand for AI data centers. The revenue of $64.2 million exceeded expectations, marking an 84% year-over-year rise. Despite a net loss of $18.5 million, the company is expanding its capacity and is well-positioned for future AI infrastructure growth.
