News Blog

Shares of Universal Music Group surged in early European trading Thursday after the record label behind the Weeknd, Billie Eilish and Taylor Swift posted revenue growth ahead of analysts’ expectations for the second quarter, marked by the return of growth in streaming.

LONDON, July 27 (Reuters) – Nestle (NESN.S) improved its full-year organic sales outlook and reported better-than-expected first-half organic sales, as the world’s biggest packaged food company again raised prices to cope with higher input costs.

McDonald’s on Thursday reported quarterly earnings and revenue that topped analysts’ expectations as its China sales rebound and mascot Grimace drives U.S. visits.

MADRID, July 27 (Reuters) – Telefonica (TEF.MC) is to shift its focus to cash generation after years of restructuring its business, the Spanish telecoms group’s CEO said on Thursday, sending its shares higher.

Consumer confidence recovered in Germany for August, a rebound from a decline in the month before, amid improved expectations for cooling inflation in the eurozone’s largest economy.

July 27 (Reuters) – Eli Lilly (LLY.N) said on Thursday its experimental obesity drug met the main goals in two late-stage studies, with the drug helping patients reduce 26.6% weight on average in one of the studies following intensive lifestyle changes.

The European Central Bank on Thursday announced a new rate increase of a quarter percentage point, bringing its main rate to 3.75%.

PARIS, July 27 (Reuters) – BNP Paribas (BNPP.PA), the euro zone’s biggest bank, beat estimates in the second quarter as its corporate debt financing business and strong cost management partly offset a slump in securities trading.

ServiceNow  posted better-than-expected results for its latest quarter and lifted its full-year outlook.

BERLIN, July 27 (Reuters) – Volkswagen (VOWG_p.DE) on Thursday cut its full year sales target and pledged to improve its cash position in the second half by hiking prices and cutting costs as the German carmaker seeks to fend off tough competition in China, its top market.

Southwest Airlines stock tumbled after the low-cost carrier said it expected revenue per available seat mile to fall in the third quarter.

July 27 (Reuters) – Northrop Grumman (NOC.N) raised its full-year profit and revenue forecasts on Thursday, as the aerospace and defense major bets on strong weapon demand amid heightened geopolitical tensions.

The U.S. economy showed few signs of recession in the second quarter, as gross domestic product grew at a faster than expected pace during the period, the Commerce Department reported Thursday.

Honeywell International second-quarter earnings beat Wall Street expectations and the industrial company raised full-year financial guidance. The stock, however, was down in early trading.

July 24 (Reuters) – Textron Inc (TXT.N) raised its full-year adjusted earnings per share forecast on Thursday, as stronger pricing of business jets and military helicopters continues to offset inflationary costs and drive revenue growth in its Aviation segment.

.

British oil giant Shell  on Thursday reported a sharp year-on-year drop in second-quarter profit, citing lower fossil fuel prices and refining margins.

Keurig Dr Pepper Inc  beat Wall Street estimates for quarterly results on Thursday and forecast higher annual sales, as the soda maker benefits from multiple rounds of price hikes that helped counter slowing demand due to still high inflation.

Barclays said Thursday that it expects to earn less interest in its U.K. division, as analysts flagged the bank’s “modestly disappointing” set of results.

Rooftop solar provider Sunnova Energy International released its second-quarter financial results after Wednesday’s close, missing Wall Street estimates sales and earnings estimates, sending shares lower.

.

Comcast beat analyst estimates on Thursday when it reported its second-quarter results, as higher pricing helped offset a continued slowdown in its broadband business.