Garmin forecasts strong 2024 revenue, beats quarterly estimates

(Reuters) -Navigation device maker Garmin beat fourth-quarter earnings expectations and forecast full-year revenue above estimates on Wednesday, betting on strong growth in its auto and fitness businesses. Shares of the company rose 9.7% to $134.67. New product launches, such as the vívoactive 5 GPS smartwatch, and collaborations with popular brands have helped the Swiss company […]

Home Depot Sees Muted 2024 as Demand Recovery Takes Longer

By Deborah Mary Sophia and Granth Vanaik (Reuters) -Home Depot forecast full-year results below analysts’ estimates on Tuesday, signaling that lackluster demand would continue to pressure the company this year as people tighten spending on home remodeling amid sticky inflation. With food prices and borrowing costs still elevated, customers are limiting home-related spend to just […]

Coinbase Shares Near Two-Year High as ETF Euphoria Boosts Trading Volume

By Manya Saini and Niket Nishant (Reuters) -Coinbase Global shares jumped closer to a two-year high on Friday after the crypto exchange posted its first quarterly profit since 2021, benefiting from a trading volume surge in the run-up to the approval of spot bitcoin exchange traded funds (ETFs). The stock rallied 14% to $189.28 and […]

US Federal Reserve releases scenarios for 2024 bank ‘stress tests’

By Michelle Price WASHINGTON (Reuters) – The U.S. Federal Reserve on Thursday released scenarios for its annual bank health checks which will assess how well 32 large lenders would fare under a severe economic shock, including a U.S. jobless rate of 10% and a collapse of real estate prices. The Fed’s annual “stress tests,” introduced […]

Kraft Heinz Forecasts Slower Annual Sales Growth on Tepid Demand

By Savyata Mishra and Anuja Bharat Mistry (Reuters) -Kraft Heinz forecast its annual core sales to grow at a slower pace, after posting a steeper-than-expected drop in quarterly sales, a sign that demand for its sauces and meat cold cuts would remain muted as customers digest past price hikes. Shares of the company, known for […]

Coca-Cola Revenue Tops Estimates on Robust Demand, Higher Prices

By Ananya Mariam Rajesh (Reuters) -Coca-Cola surpassed Wall Street expectations for fourth-quarter revenue on Tuesday, as it benefits from higher product prices and buoyant demand for its juices, energy drinks and sodas. Despite the company hiking prices over the last several quarters, consumers dining out and indulging in experiences like movies and sports have been […]

U.S. Judge Orders Elon Musk to Testify in SEC’s Twitter Probe

By Jody Godoy (Reuters) -A federal judge ordered Elon Musk to testify again in the U.S. Securities and Exchange Commission’s probe of his $44 billion takeover of Twitter, giving the regulator and the billionaire a week to agree on a date and location for the interview. U.S. Magistrate Judge Laurel Beeler’s order, issued on Saturday […]

US SEC hits more Wall Street firms with fines over record-keeping

By Chris Prentice and Doina Chiacu NEW YORK/WASHINGTON (Reuters) -A new group of Wall Street firms has agreed to pay more than $81 million in civil penalties to settle U.S. Securities and Exchange Commission charges of record-keeping failures, the regulator said on Friday. The settlements with broker-dealers and investment advisers, including Oppenheimer & Co. Inc […]

Tech talk

Garmin forecasts strong 2024 revenue, beats quarterly estimates

February 21, 2024

(Reuters) -Navigation device maker Garmin beat fourth-quarter earnings expectations and forecast full-year revenue above estimates on Wednesday, betting on strong growth in its auto and fitness businesses. Shares of the company rose 9.7% to $134.67. New product launches, such as the vívoactive 5 GPS smartwatch, and collaborations with popular brands have helped the Swiss company […]
Read More