Airbus recorded orders and options for 123 planes, according to the aviation consulting firm IBA.iQ.Paris Air Showread more
Markets in Asia edged up in Tuesday morning trade as investors awaited the start of a closely-watched meeting by the U.S. Federal Reserve, set to kick off later stateside.Asia Marketsread more
Wall Street analysts think Facebook's cryptocurrency payments project will give the company a big boost.Marketsread more
Chinese President Xi Jinping will travel to North Korea this week for a two-day visit, ahead of a possible meeting between Xi and President Donald Trump at next week's G-20...Politicsread more
The Pentagon said that the crew of one of the tankers, the Japanese Kokuka Courageous, found an unexploded limpet mine on its hull following an initial explosion.Politicsread more
Despite the popularity of companies like Beyond Meat and Impossible Foods, meat consumption around the world continues to rise.Food & Beverageread more
Electronic material that Infowars host Alex Jones turned over to families of Sandy Hook Elementary School shooting victims who are suing him contained images of child...Politicsread more
Facebook's reported move into cryptocurrency could amount to the biggest catalyst for digital assets in their decade-long history, some crypto investors say.Bitcoinread more
In a 7-2 ruling, over dissents from Justices Ruth Bader Ginsburg and Neil Gorsuch, the justices affirmed the so-called "dual sovereignty" exception to the Constitution's...Politicsread more
Eleven banks that lend to shipping lines announced Monday that climate impact will be integrated into the criteria that determines how much shipping companies can borrow, an...Transportationread more
Florida businessman Barry Honig agreed to a proposed judgment with the SEC in a case it called "classic pump-and-dump schemes," according to Monday filings.Crimeread more
The season of fourth-quarter earnings reports has begun and already companies are beating expectations. But that's not necessarily good news for stocks, as those expectations are very low.
Wall Street slashed profit estimates over the last three months as the index lost 6.8 percent. The consensus estimate for fourth quarter S&P 500 growth has fallen to 11.9 percent from 17.8 percent in September, data from FactSet shows.
Preliminary earnings results are already showing earnings beats, RBC Capital Markets strategist Lori Calvasina said in a note to investors on Tuesday. But those better-than-expected results represent companies stepping over a very low bar.
"The tone around demand and the underlying backdrop has rattled US equity investors," Calvasina said.
Apple confirmed what many feared when it announced lowered revenue guidance for the upcoming quarter. Even if Apple were to beat expectations, the damage to the stock was done earlier this month following the lowered guidance.
Morgan Stanley strategist Michael Wilson said he expects more "Apple-like price reactions to guidance cuts" when companies report. "We would expect negative guidance revisions to be a persistent theme during 4Q earnings season," Wilson said.
Even with the diminished expectations, Bank of America Merrill Lynch's Savita Subramanian said instances of companies beating expectations will be smaller and fewer. Her analysis shows that even the slashed estimates may not be enough, as Subramanian said "more estimate cuts are likely" for fourth quarter profits.