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With results in from almost all of the S&P 500 companies, overall third-quarter earnings are estimated to have increased 6.3 percent from the year-ago period, LSEG data showed on November 10. ....
That outlook, however, is tempered by the scope of the challenges they face in China, the world s top car market, where Japanese car makers, like other foreign brands, face the rise of domestic players, the popularity of electric vehicles and growing price competition, hurting prospects. "We would look to put our China business back on a growth track despite the continuing harsh conditions," Nissan Chief Executive Officer Makoto Uchida told a briefing following the release of results, unveiling new steps for China. ....
(Reuters) -Fortinet sank nearly 18% and sparked a selloff in cybersecurity stocks with a dismal forecast that compounded fears of slowing client spending in an uncertain economy. Rivals Palo Alto, ZScaler and CrowdStrike fell between 0.6% and 2.6%. Fortinet cut its annual revenue target on Thursday and said it expects current-quarter sales between $1.38 billion and $1.44 billion, below estimates of $1.50 billion, LSEG data showed. ....
(Reuters) -Moderna on Thursday said it expected 2023 revenue of at least $6 billion, tempering its forecast to reflect weaker demand for COVID-19 vaccines, but added it would return to sales growth in 2025 and break even the following year. The company reported third-quarter sales of $1.8 billion, topping analysts' estimates of $1.32 billion, according to LSEG data. Moderna's COVID-19 vaccine is its lone marketed product. ....