1ď¸âŁ Dowâs Remarkable Streak: The Dow Jones continues its impressive 13 positive sessions, a feat not seen on Wall Street since 1987. If it hits 14 on Thursday, itâll tie a record dating back to 1897, shortly after its creation. The recent win followed the Federal Reserveâs benchmark rate increase, with Chairman Jerome Powell highlighting the need for further progress while leaving the possibility of holding steady at the September policy meeting open.
2ď¸âŁ McDonaldâs Victory: McDonaldâs success is attributed to a viral promotional campaign featuring its big, purple mascot, Grimace. The campaign drove customers to the companyâs restaurants, contributing to a strong quarter. Sales saw growth across the board, with China rebounding, and the United Kingdom and Germany showing robust sales growth. In the U.S., the companyâs largest market, sales surged by 10.3% in the quarter.
3ď¸âŁ Metaâs Strong Showing: Mark Zuckerbergâs Meta exceeded Wall Streetâs estimates in its Wednesday earnings report. Investors were particularly impressed with its guidance for the current quarter, surpassing analystsâ expectations. Facebookâs digital advertising revenue rebounded, driven by Chinese companies and online retailers, as stated by Metaâs CFO Susan Li. Despite metaverse business losses, Metaâs stock rose by 8% in extended trading, already up by 160% this year.
4ď¸âŁ Shellâs Declining Profit: Oil giant Shell reported a significant profit decline in Q2 due to falling global commodity prices. While expected, the adjusted profit figure of $5.1 billion fell short of the $6 billion estimate. French oil giant TotalEnergies also reported a notable drop in earnings, with CEO Patrick Pouyanne noting a âfavorable but softening oil and gas environment.â
5ď¸âŁ Comcast Beats Expectations: Despite cord-cutting and slowing broadband growth, Comcast, the cable, and entertainment giant, achieved another profitable quarter, exceeding Wall Streetâs expectations. The fledgling streaming service, Peacock, incurred financial losses despite increasing subscribers. However, Comcastâs theme parks performed well, with Super Nintendo World boosting attendance in Hollywood, though revenue at its Orlando, Florida park experienced a slight dip. (Disclosure: Comcast owns NBCUniversal, CNBCâs parent company).â
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