Earnings at the halfway mark are much better than expected

The reopening story may be getting rocky, but one pleasant surprise has been earnings. With half of the S&P reporting, about 80% of companies have beaten the estimates. The average earnings beat has been 13.2% above the consensus, way above the historic norm of 3.3%, according to Refinitiv. Amazon, Facebook, and Apple are only the […]

10-year Treasury yield falls close to 0.52% after record GDP contraction

At around 2:00 a.m. ET, the yield on the benchmark 10-year Treasury note, which moves inversely to price, was lower at around 0.5233%, while the yield on the 30-year Treasury bond was lower at 1.1764%. Overnight, some of the biggest tech stocks — Facebook, Amazon, Alphabet and Apple — reported quarterly results that beat high […]

Here's what happened to the stock market on Thursday

The Dow slid 225.92 points, or 0.85% to close at 26,313.65. The S&P 500 fell 0.38% to 3,246.22. The Nasdaq Composite outperformed, rising 0.43% to 10,587.81. The broader market was under pressure amid dismal U.S. economic data, but the losses were capped as shares of Big Tech rose ahead of earnings.  Record GDP plunge Data […]

Coronavirus forces California Pizza Kitchen to file for bankruptcy

Fox Business Flash top headlines for July 30 Fox Business Flash top headlines are here. Check out what’s clicking on FoxBusiness.com. California Pizza Kitchen sought Chapter 11 bankruptcy protection on Thursday, blaming "unprecedented impact" from the COVID-19 pandemic that has devastated businesses nationwide. Continue Reading Below The California-based company, which operates over 200 restaurants in eight countries and U.S. territories, entered into […]

Earnings: Semiconductors and telemedicine killing it, buying online exploding

Some positive trends are emerging this earnings season for semiconductors, telemedicine and buying online. Consumers are spending more time organizing their homes. Restaurant sales are improving. Earnings reports are coming in fast and furiously, and with a large percentage of companies declining to provide guidance, reporters and analysts are combing through corporate press releases and […]

Dunkin' to permanently close 800 US stores in 2020, 8% of US restaurants

Fox Business Flash top headlines for July 30 Fox Business Flash top headlines are here. Check out what’s clicking on FoxBusiness.com. Dunkin' expects to permanently close approximately 800 U.S. locations by the end of 2020, the company said Thursday. Continue Reading Below The closures, which include 450 locations in Speedway gas stations that had previously been […]

Yum Brands beats same-store sales estimates on pizza, taco cravings

KFC US president: Making restaurants safest place for customers to eat KFC U.S. President Kevin Hochman discusses reopening restaurants amid coronavirus with extensive safety measures.  Yum Brands Inc (YUM.N) on Thursday beat Wall Street expectations for quarterly same-restaurant sales, as diners sought comfort foods such as pizzas and tacos while under coronavirus lockdowns. Continue Reading […]

Gold Steadies After Nine-Day Rally as Fed Flags Risk From Virus

Gold paused after rallying for nine days to a record as investors weighed comments from the Federal Reserve on uncertainties over the economic recovery amid the coronavirus pandemic. Bullion was supported as the U.S. central bank left interest rates near zero and vowed to use all its tools to drive the recovery from the downturn […]

Shale Drillers Signal Bleak 2020 While Trump Champions Oil Patch

Shale explorers Concho Resources Inc., WPX Energy Inc. and QEP Resources Inc. signaled a grim rest of 2020 for the U.S. oil patch just hours after President Donald Trump arrived in the Permian Basin championing “American energy dominance.” In second-quarter earnings reports published after the close of trading in New York, QEP cut its production […]