AutoZone beat estimates for third-quarter profit on Tuesday, driven by strong demand for automotive parts as more Americans held on to their ageing cars amid higher prices and wait times for newer models.
Nestle will market a new, $5 line of frozen pizzas and protein-enriched pastas in the United States which it says it designed specifically for people taking drugs such as Wegovy or Ozempic for weight loss.
Bloomingdale’s owner Macy’s raised its annual profit forecast on Tuesday, signaling that efforts to reduce costs by closing underperforming stores and trimming jobs were starting to pay off.
Chinese tech giants Alibaba and Baidu slashed prices on Tuesday of large-language models (LLMs) used to power generative artificial intelligence products, as a price war in the cloud computing sector heats up in China.
Vietnamese officials have called on Apple supplier Foxconn to voluntarily reduce power use by 30% at its assembly plants in the north of the country where there were electricity outages last year, two people familiar with the matter said.
U.S. index futures were muted on Tuesday, as investors refrained from placing big bets before AI chip leader Nvidia’s earnings this week and amid policy caution from Federal Reserve officials ahead of the central bank’s meeting minutes.
Lowe’s Cos reported a lower-than-expected drop in quarterly sales on Tuesday, helped by more small-scale repairs undertaken by inflation-hit Americans, who have otherwise cut back on big-ticket discretionary home improvement projects.
Canadian banks are expected to set aside money for challenging days, which will hurt quarterly earnings, as investors await commentary on how the lenders will navigate a prolonged high interest-rate environment that has dented credit growth.
