Earnings

Citadel, the Chicago-based hedge fund giant led by billionaire Ken Griffin, has so far weathered the coronavirus market storm well, turning a slight profit in its flagship Wellington hedge fund for the year through Monday, according to a person familiar with the situation. The fund, which practices a so-called multi-strategy array of bets on stocks,

Nike reported quarterly sales that topped analysts’ expectations, thanks to a boost from its digital business and growth in North America, which helped to offset weakness in China due to COVID-19.  Its shares shot up more than 8% in after-hours trading Tuesday following the release.  Chief Executive Officer John Donahoe said the business is starting to

Corporate earnings are about to do something they haven’t done since the 2008 financial crisis: Turn negative. According to PNC Financial’s Amanda Agati, the coronavirus fallout could dramatically hurt companies through the second quarter. “Q1 expectations are in negative territory at about 1.5%. It looks like Q2 will be down about 1%,” the firm’s chief

A shopper prepares to pay for items at a Kohl’s department store in Peru, Illinois, May 16, 2019. Daniel Acker | Bloomberg | Getty Images Kohl’s has withdrawn its earnings outlook for the current quarter and fiscal year, as it grapples with the hit it will take from the coronavirus pandemic.  The department store chain will

James Quincey, President and chief operating officer of the Coca-Cola company. Patrick Kovarik | AFP | Getty Images Coca-Cola on Friday said that it does not expect to meet its financial outlook for 2020 due to the impact of the coronavirus pandemic. Around the world, sporting events and concerts have been canceled, movie theaters and

Shoppers sit outside of a J.C. Penney store at the Westfield Mall in Culver City, California. Martina Albertazzi | Bloomberg | Getty Images J.C. Penney has withdrawn its earnings outlook due to the uncertainty surrounding COVID-19. The department store chain announced Friday morning that it is not providing an updated outlook at this time. Earlier in

A take-out order from a Darden Restaurants Inc. Olive Garden. Daniel Acker | Bloomberg | Getty Images Darden Restaurants on Thursday reported quarterly earnings and revenue that topped analysts’ expectations. The company also withdrew its fiscal 2020 outlook and suspended its quarterly dividend, citing the uncertainty it faces as states mandate the closure of dining rooms due the coronavirus

U.S. package delivery company FedEx suspended its 2020 profit outlook on Tuesday, citing the “significant impact” of the coronavirus, and said it would cut costs due to the uncertainty wrought by the pandemic. Even so, the company reported quarterly revenue that beat market expectations as more businesses turned to its international express plane service to

The outside of Nordstrom’s men’s store in New York, which opened in April 2018. Source: Nordstrom Nordstrom is closing all of its stores temporarily to try to curb the spread of COVID-19.  The retailer has also withdrawn its 2020 earnings outlook, due to the uncertainty of the situation. Nordstrom said it has experienced “a broad-based

Oracle CEO Safra Catz delivers a keynote address during the 2019 Oracle OpenWorld on September 17, 2019 in San Francisco, California. Oracle CEO Safra Catz kicked off day two of the 2019 Oracle OpenWorld with a keynote address. The annual convention runs through September 19. Justin Sullivan | Getty Images Oracle shares rose as much

Slack shares plunged in extended trading on Thursday after the maker of messaging software provided a disappointing forecast for the fiscal first quarter, citing uncertainty surrounding the coronavirus. The stock sank more than 20% to $17.03. That adds to an almost 10% drop during regular trading, as the shares fell alongside the broader market, which

JetBlue Airways on Monday withdrew its first-quarter and full-year earnings forecast and said it was considering voluntary time-off programs for employees, as the coronavirus outbreak wreaks havoc on the global travel industry. JetBlue said it is adjusting schedules between March and early May due to falling demand, and is evaluating further flight cancellations as the

People load Clorox into their car in the Costco parking lot after the first confirmed case of coronavirus was announced in New York State, in Brooklyn, New York, March 2, 2020. Andrew Kelly | Reuters Costco reported stronger sales than analysts were expecting Thursday, thanks in part to a boost the company received from consumers stocking

A security guard stands in a greenhouse of Tilray medical cannabis producer’s European production site in Cantanhede, on April 24, 2018. Patricia De Melo Moreira | AFP | Getty Images Canada-based pot firm Tilray reported a bigger quarterly loss on Monday, hurt by an impairment charge related to its assets and higher costs, as oversupply

Hyatt Regency Orlando International Airport. Source: Orlando International Airport Hyatt Hotels said on Monday it was withdrawing its 2020 earnings outlook, as the coronavirus outbreak spreads across the globe hurting travel demand. The company had previously forecast adjusted profit for 2020 between $760 million and $780 million. Greater China revenue per available room (RevPAR) has been

A woman wearing a protective face mask to prevent contracting the coronavirus enters a subway station in Milan, Italy, March 4, 2020. Guglielmo Mangiapane | Reuters First quarter U.S. earnings estimates have been declining since coronavirus concerns became known toward the end of January, but Europe — now the cutting edge of the coronavirus epidemic

Eric Yuan, CEO, Zoom Video Communications Source: CNBC Shares of videoconferencing software company Zoom dropped as much as 10% and then pared back part of its losses in extended trading on Wednesday after the company reported earnings and guidance that exceeded analysts’ expectations. Zoom had been on a tear during the coronavirus outbreak, as companies

Visa Inc. credit and debit cards are arranged for a photograph in Washington, D.C., U.S., on Monday, April 22, 2019. Andrew Harrer | Bloomberg | Getty Images Visa warned on Monday that its second-quarter revenue growth would be slower than its previous forecast, becoming the latest payments services provider to be affected by the coronavirus

Larry Culp, CEO, General Electric Scott Mlyn | CNBC General Electric on Wednesday reiterated its 2020 cash and profit targets but warned its first-quarter cash flow would take a hit of $300 million to $500 million due to the coronavirus outbreak. Shares of GE, which employs thousands of workers in China and had been seen

Nordstrom said Tuesday it is changing its leadership structure to retire its co-presidency, and naming Erik Nordstrom as its sole CEO. It announced the changes as it reported fourth-quarter earnings and sales that missed analysts’ estimates, sending shares tumbling. Its stock initially cratered more than 10% in after-hours trading following the release. Shares were recently down