Futures drop as eyes shift to Fed meeting, Apple earnings
U.S. stock index futures dropped on Tuesday, as worries about the scale of consensus at the Federal Reserve in favor of deeper cuts in interest rates ate into the positive sentiment that drove indexes to record highs last week.
Swiss help Japan’s investigation into ex-Renault-Nissan boss Ghosn
Swiss prosecutors said on Tuesday they are assisting Japanese authorities in their investigation into former Renault and Nissan Motor boss Carlos Ghosn, who faces charges of fraud and misconduct.
D.R. Horton profit beats as lower home prices boost demand
No.1 U.S. homebuilder D.R. Horton Inc topped Wall Street estimates for quarterly profit and revenue on Tuesday, as lower home prices and declining mortgage rates whetted buyer appetite.
Higher consumer spending helps Mastercard beat quarterly profit estimates
Mastercard Inc on Tuesday beat Wall Street estimates for quarterly profit, as a robust economy encouraged customers to spend more, boosting fee income for the world’s second-largest payment processor.
ConocoPhillips adjusted profit falls on lower crude prices
Independent oil and gas producer ConocoPhillips reported an 11.6% drop in quarterly profit on Tuesday, as fears of slowing global economy weighed on crude prices.
Under Armour cuts North America revenue forecast; shares fall 10%
Sportswear maker Under Armour Inc on Tuesday cut its full-year revenue forecast for North America, its biggest market, in the face of stiff competition from bigger rivals Nike Inc and Adidas AG , sending its share down 10%.
Texas shale pioneers struggle to appease investors
Seven years ago, Diamondback Energy Inc went public with a modest parcel of drillable land in the Permian Basin of West Texas.
Eli Lilly tops revenue estimates on boost from diabetes drugs
Eli Lilly and Co beat analysts’ estimates for quarterly profit on Tuesday and raised its full-year earnings forecast, as higher sales of diabetes drugs Trulicity and Basaglar offset competition for its erectile dysfunction drug, Cialis.
Huawei warns on U.S. ban after China smartphone sales drive first-half revenue
Chinese tech giant Huawei Technologies warned on Tuesday a U.S. trade blacklisting will impact short-term revenue growth, even as its half-year revenue surged 23% thanks to soaring smartphone sales at home.
Merck profit beats on strong demand for Keytruda, vaccines
Merck & Co Inc reported higher-than-expected second-quarter profit on Tuesday, powered by strong demand for its cancer immunotherapy Keytruda and vaccines, sending its shares up 3% in early trading.
