Stocks surged across the board on Tuesday, gaining momentum after Monday’s rebound as unexpectedly weak economic data bolstered hopes for a potential Federal Reserve rate cut by the end of the summer. What Happened: The S&P Global’s Purchasing Managers’ Index (PMI) for April indicated a significant deceleration in private sector growth—the slowest in four months—also highlighting reduced inflationary pressures from wages and services. Market-implied probabilities for a rate cut by the Fed as ear
Texas Instruments reported first-quarter revenue of $3.66 billion, which beat the consensus estimate of $3.611 billion, according to Benzinga Pro. The company's top-line results were down 16% on a year-over-year basis and down 10% sequentially as revenue declined across all end markets.
U.S. stocks are poised to break a six-day losing streak, marking the end of the longest downward trend since September 2022. At noon trading in New York on Monday, major indices all traded higher, indicating modest gains, as investors prepare for a week jam-packed with pivotal earnings reports from major corporations, including Visa Inc. (NYSE:V), Tesla Inc. (NASDAQ:TSLA), Meta Platforms Inc. (NASDAQ:META), Microsoft Corp. (NYSE:MSFT), and Alphabet Inc. (NASDAQ:GOOGL)(NASDAQ:GOOG). Easing geopol
Oracle's third-quarter revenue increased 7% year-over-year to $13.3 billion, which missed the consensus estimate of $13.306 billion, according to Benzinga Pro. The company reported quarterly earnings of $1.41 per share, which beat average estimates of $1.38 per share.
New York Community Bancorp shares are tumbling in after-hours trading Thursday after the company identified material weakness in internal controls and announced a leadership transition.