Tuesday, 1 May 2018

Apple beats financial expectations, plans $100 billion cash return boost

Apple beats financial expectations, plans $100 billion cash return boost

(Reuters) - Apple Inc on Tuesday beat revenue and profit expectations in its March quarter as it sold 52.2 million iPhones, barely below Wall Street targets and showing some resilience as global demand for smartphones wanes.

S&P, Nasdaq advance on trade optimism, Dow dips

NEW YORK (Reuters) - The S&P 500 eked out a gain on Tuesday after comments from a Trump administration official on trade with China and the Mexican economy minister on the renegotiation of the North American Free Trade Agreement provided cause for optimism.

Snap's user growth misses analyst forecasts, shares plunge

(Reuters) - Snap Inc's user and revenue growth fell short of analysts' expectations for the first quarter after a widely panned redesign of its Snapchat messaging app, sending its shares tumbling more than 10 percent.

Cold snap for U.S. April auto sales instead of spring thaw

DETROIT (Reuters) - Most major automakers on Tuesday posted lower new U.S. vehicle sales for April as consumer demand continued to weaken and competition intensified following a lengthy boom for the industry.

Fed likely to keep rates steady; investors bet on June hike

WASHINGTON (Reuters) - The U.S. Federal Reserve is set to hold interest rates steady this week but will likely further encourage expectations that it will lift borrowing costs in June on the back of rising inflation and low unemployment.

T-Mobile's quarterly revenue beats estimates

(Reuters) - Wireless carrier T-Mobile US Inc , which is buying smaller rival Sprint Corp , topped Wall Street estimates for revenue as it added more postpaid phone subscribers with competitively priced plans.

U.S. extended tariffs exemption for EU due to good trade talks: Ross

WASHINGTON (Reuters) - The European Union's exemption from U.S. steel and aluminum tariffs was extended because of promising trade talks with Washington, U.S. Commerce Secretary Wilbur Ross said on Tuesday, adding that he does not expect the practice to continue.

No more #Euroboom? No problem, say investors

LONDON (Reuters) - Signs of fading growth momentum across Europe have come as bad news to equity investors hoping for a repeat of 2017's bumper returns, but many say they're not ready to throw in the towel yet on companies that are still delivering strong earnings.

Pfizer first-quarter results miss estimates as key drug sales fall short

NEW YORK (Reuters) - Pfizer Inc on Tuesday reported lower-than-expected first-quarter revenue as demand for some key drugs and international sales fell short of estimates, sparking a 5.1 percent drop in shares of the largest U.S. drugmaker.

Incoming BASF boss rules out DowDuPont-style break-up

FRANKFURT (Reuters) - The incoming boss of BASF has thrown his weight behind the chemical titan's contentious strategy of keeping divergent businesses folded into one company, at a time when its major rivals such as DowDuPont are breaking themselves up.

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