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Noor Photo | Noor Photo | Getty ImagesDelta Airlines The company said Thursday it expected third-quarter sales to hit a record high thanks to a surge in summer travel demand, but its profit outlook fell short of analysts’ expectations.Delta shares fell about 8% in premarket trading. Here’s how the company performed for the three months to June 30, compared with Wall Street expectations based on LSEG consensus estimates:Adjusted earnings per share: $2.36 (expected: $2.36)Adjusted revenue: $15.41 billion (expected: $15.45 billion)The Atlanta-based airline kicked off earnings season Thursday with a full fleet of planes, but profits are being squeezed by rising…

(This is CNBC Pro’s live coverage of Thursday’s analyst conference call and Wall Street chatter. Refresh every 20-30 minutes to see the latest posts.) Among the stocks analysts were talking about on Thursday were the streaming giant and a large wholesale retailer. Jefferies raised its rating on Spotify Technology, predicting an upside of more than 26%. Meanwhile, Bank of America raised its price target on Costco, which announced a membership fee increase. Check out the latest conference call and chatter below. All times ET. 6:36 a.m.: Wells Fargo Raises AMD Price Target AMD’s latest acquisition in the artificial intelligence space…

The land beneath many U.S. cities is sinking, including New Orleans, New York City, Miami and South San Francisco.This phenomenon, known as land subsidence, can have serious implications for the integrity of buildings and infrastructure and, combined with rising sea levels, could significantly increase the incidence of flooding.Subsidence-related issues could cost U.S. homeowners as much as 6% of their home’s value. In areas with high levels of subsidence, that figure could jump to 8.1%, according to a soon-to-be-published study by Mehdi Nemati, an assistant professor of public policy at the University of California, Riverside, and his colleagues. While the study…

First-quarter earnings are underway with IT bellwether Tata Consultancy Services (TCS) along with 16 other companies scheduled to report their results on Thursday.Some notable results to watch on Thursday include Akme Fintrade, Anand Rathi Wealth, Vivid Mercantile, DRC Systems, RO Jewels, SM Auto Stamping, Shree Jayalakshmi, Stellant Securities, GNA Axles, GTPL Hathway, Amal Ltd, Marble City India and others.TCS Q1 forecastAccording to an average estimate from four brokerages, TCS is expected to post an 8% year-on-year increase in net profit for the fiscal year ending June 2024. Revenue for the reported quarter is expected to rise to Rs 62,234 crore,…

Please note that our Privacy Policy, Terms of Use, Cookies, and Do Not Sell My Personal Information have been updated.CoinDesk is an award-winning media outlet covering the cryptocurrency industry. Its journalists adhere to strict editorial policies. In November 2023, CoinDesk was acquired by Bullish Group, owner of Bullish, a regulated digital asset exchange. Bullish Group is majority owned by Block.one, and both companies have interests in various blockchain and digital asset businesses and hold significant amounts of digital assets, including Bitcoin. CoinDesk operates as an independent subsidiary with an editorial board to protect the independence of its journalism. CoinDesk employees,…

Federal Trade Commission Chairwoman Lina Khan testifies at a hearing of the House Appropriations Committee’s Financial Services and General Government Subcommittee on May 15, 2024.Tom Williams | CQ-Roll Call, Inc. | Getty ImagesThe Federal Trade Commission plans to sue three major US health care companies over their practices in negotiating prices for insulin and other drugs, people familiar with the matter told CNBC on Wednesday, alleging the companies inflate costs for patients.The lawsuit is expected to target three so-called pharmacy benefit management companies. UnitedHealth GroupOptum Rx, CVS HealthCare mark and SignaThe people confirmed Express Scripts’ plans to a Wall Street…

A look at some of the companies that made headlines after the close: WD-40 Corp. — Shares rose 11% after the metal lubricant maker reported third-quarter results that beat analysts’ expectations. WD-40 Corp. posted earnings of $1.46 per share on revenue of $155 million. These beat analysts’ expectations of earnings of $1.39 per share on revenue of $145.8 million. PriceSmart — The warehouse club operator reported third-quarter earnings and revenue that beat expectations, sending shares up 6%. PriceSmart’s adjusted earnings were $1.08 per share, compared with analysts’ expectations of $1.01 per share. The company’s revenue of $1.23 billion also beat…

An Aldi supermarket in Alhambra, California, on June 27, 2024.Eric Thayer | Bloomberg | Getty ImagesThursday’s widely expected inflation report could bolster expectations that the Federal Reserve will cut interest rates in coming months.The Consumer Price Index (CPI) report for June is scheduled to be released at 8:30 a.m. ET. Recent economic releases, including last week’s report that the unemployment rate rose to 4.1% in June, suggest that both inflation and economic growth are slowing.Thursday’s report came after Federal Reserve Chairman Jerome Powell testified before Congress this week for two days. The central bank chief did not say when interest…

As we move into the second half of the year, Oppenheimer is highlighting what it calls its top small- and mid-cap investment ideas for seasonal focus. Small caps have underperformed the S&P 500 this year, with the Russell 2000 essentially flat, up just 0.12% through Tuesday. But the broader market index is up about 17%. Mid-caps haven’t performed much better, with the S&P 400 mid-caps up just 3.8% through 2024. Based on price charts alone, Oppenheimer has picked mid-cap growth stocks as its top rotation ideas from a technical perspective. All 25 “mid-cap” stocks selected by Oppenheimer have market caps…

Following increased regulatory scrutiny of bank-fintech partnerships and a series of recent enforcement actions, regulators are now seeking further guidance on how such partnerships should be managed. Federal Deposit Insurance Corp. Executive Director Jonathan McKernan said at a conference hosted by Semaphore in Washington, D.C., on Wednesday that there is room for activity-specific advice under existing interagency guidelines on third-party relationships. He said the guidelines could provide “clearer, even black-and-white rules.”Banks need to continually monitor whether their fintech partners are meeting their obligations and identify gaps, McKernan said, which he noted is often not done. He did not comment on…