(Reuters) -Elevator maker Otis raised its full-year revenue forecast on Wednesday, after beating first-quarter profit estimates on sustained demand for its maintenance and modernization services. The steady market for maintenance, repair and parts replacement countered the Farmington, Connecticut-based company’s muted demand for new equipment, which was impacted by a pressured Chinese property market during the quarter. Otis posted an adjusted profit of 92 cents per share for the quarter ended March 31, compared with analysts’ average estimate of 91 cents per share, according to data compiled by LSEG. Its net sales fell 2.5% to $3.35 billion, compared with estimates of $3.37 billion, amid the ongoing macroeconomic environment. However, the company raised its full-year 2025 revenue forecast to the range of $14.6 billion to $14.8 billion from its earlier forecast of $14.1 billion to $14.4 billion. Manufacturers who depend on global supply chains for the procurement of raw materials and product distribution have been faced with uncertainties in the wake of the worldwide trade war stemming from U.S. President Donald Trump’s tariff policies. Otis’ exposure to China, its largest new equipment market, adds further pressure to its operations due to the heavier tariff sanctions on the country. The company expects a tariff impact of $45 million to $75 million on its operating profit during the year. It reiterated its annual adjusted profit forecast of $4 to $4.10 per share, compared with estimates of $4.06 per share. The company’s shares fell 3% before the bell.

ProNovos is recognized for its Financial Intelligence Solution under the Business Intelligence, Reporting, and Analytics category.

Blog Mobile Portfolio Widgets About Us Advertise Help & Support Authors Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks. Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed. Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website. It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website. Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

Finance Director Jeff Albrecht told the council the city's general fund revenue is essentially flat, with a 2026 revenue budget of about $29 million and an expenses estimate of $31.5 million, creating a projected deficit that will require budget adjustments or new revenue streams.

(Reuters) -Self-driving technology firm Mobileye Global (NASDAQ:MBLY) raised its forecast for fiscal 2025 revenue on Thursday, anticipating a rise in orders for its autonomous driving chips as customers clear existing inventory. Shares of the company rose more than 8% in premarket trading. Automakers have largely resumed placing orders for self-driving hardware after an inventory surplus — caused by COVID-19-related supply concerns several years ago — led to a prolonged slump in demand. "Stronger visibility on industry supply-demand alignment since late-April supports our decision to raise the full-year outlook, while we continue to maintain a conservative stance given the broader macro environment," said Mobileye CEO Amnon Shashua. Don't miss out on the next big opportunity! Stay ahead of the curve with ProPicks – 6 model portfolios fueled by AI stock picks with a stellar performance this year.. In 2024 alone, ProPicks' AI identified 2 stocks that surged over 150%, 4 additional stocks that leaped over 30%, and 3 more that climbed over 25%. That's an impressive track record. With portfolios tailored for Dow stocks, S&P stocks, Tech Stocks, and Mid Cap stocks, you can explore various wealth-building strategies. So if MBLY is on your watchlist, it could be very wise to know whether or not it made the ProPicks lists.

Lansing — Michigan budget officials decreased their revenue expectations for next year by $320 million Friday, citing larger income tax refunds and the uncertainty over the impact of higher tariffs imposed by Republican President Donald Trump's administration. Members of Democratic Gov. Gretchen Whitmer and representatives of the nonpartisan House and Senate fiscal agencies approved a state revenue forecast of $34.05 billion for the next budget year, down from a January projection of $34.37 billion. The change represented a reduction of about 1%. The decision came during a three-hour meeting inside the Michigan Capitol, where economists repeatedly referenced the volatility of federal decisions on trade policy, which could affect the state's economy, and of potential federal funding cuts, which could directly hit the budget. "I think uncertainty was the word of the day," said Jen Flood, Michigan's budget director. Michigan lawmakers will use the revenue projections that were approved on Friday to build the next state budget. The forecast means they will have $320 million less to spend. Under state law, the Legislature is supposed to approve a new budget by July 1. However, Michigan House Speaker Matt Hall, R-Richland Township, has declined to commit to meet that deadline. And the fiscal year doesn't begin until Oct. 1. "I think that we're dealing with an unserious group of people," Hall said of his rationale, referring to his Democratic counterparts in the Legislature. The economic forecast that was approved actually increased the revenue projection for the School Aid Fund, which provides dollars for K-12 education, by $43 million for next year from $18.89 billion to $18.93 billion. The School Aid Fund primarily receives money through the 6% sales tax and, to a lesser extent, the income tax. The forecast dropped the revenue projection for next year for the General Fund by $363 million from $15.48 billion to $15.11 billion. The state's General Fund more heavily relies on the 4.25% individual income tax than the School Aid Fund. A report from the nonpartisan House Fiscal Agency said the estimates needed to drop for the General Fund because of "larger individual income tax refunds and modestly weaker corporate income tax collections." Similarly, for the current fiscal year, state leaders scaled back the revenue forecast by $136 million: a reduction of $222 million for the General Fund and an increase of $86 million for the School Aid Fund. Michigan Treasurer Rachael Eubanks on Friday described the forecast as "stable." "Any meaningful decline can be mostly attributable to overall larger refunds to Michiganders," Eubanks said. She cited a tax relief measure signed by Whitmer in March 2023 that's phasing in tax decreases for retirement income. In a statement on Friday, House Appropriations Chairwoman Ann Bollin, R-Brighton Township, said the new revenue projections showed House Republicans were on the right path in planning to cut state spending and to prioritize dollars toward road and bridge repair projects. "We’ve been planning for cuts — not only to ensure we can fund the critical roads plan, but also to maintain fiscal responsibility overall," Bollin said. "The reality of a less rosy revenue picture than the past few years shouldn’t come as a surprise to anyone." In February, Whitmer proposed an $83.6 billion budget for next year. Earlier this week, the Democratic-controlled Michigan Senate approved a budget plan that amounts to about $84.6 billion. The current budget was about $82.5 billion. As of Friday, the GOP-led House hadn't approved or even proposed a budget for next year. Bollin said the House's budget subcommittees needed information from the Friday revenue forecast. Asked when the House would approve a budget for K-12 schools — the fiscal year for school districts begins July 1 — Bollin replied "soon." "I can't promise next week," Bollin said. After next week, the House doesn't have session days scheduled until the final week of May as many lawmakers are expected to attend the Detroit Regional Chamber's annual Mackinac Policy Conference. Rep. Alabas Farhat, D-Dearborn, the top Democrat on the House Appropriations Committee, said state revenues are still strong and lawmakers shouldn't allow "those who seek to cut life-saving programs for tax cuts to use this announcement as an excuse." "We must make smart investments in this year's budget to support Michigan families and retain our state's talent and young people," Farhat said. "Michigan is in a global competition for good-paying jobs, educational opportunities and investments. I call on my colleagues to put aside partisan egos and come together so we can deliver real wins for Michigan." cmauger@detroitnews.com Want to comment on this story? Become a subscriber today. Click here. This article originally appeared on The Detroit News: Michigan budget sees reduction as revenue forecast scaled back amid 'uncertainty'

County finance staff presented a more conservative revenue forecast for 2026, flagged flat sales-tax growth, and asked the council to consider adopting the state-authorized "impacted communities" sales tax (up to 1.1% in unincorporated areas) to fund transportation and transit projects; council is scheduled to consider an ordinance and parameters'​

(Reuters) -Oracle shares surged nearly 8% in premarket trading on Thursday after the company raised its annual revenue forecast, driven by strong demand for its AI-related cloud services. The stock has risen nearly 6% so far this year as confidence in the software sector remained strong despite geopolitical tensions, even as analysts warn that U.S. President Donald Trump’s tariffs could undermine Big Tech’s AI investments. Earlier this year, Oracle (NYSE:ORCL), whose cloud offerings help companies build their AI infrastructure, announced a joint venture called Stargate to deliver large-scale computing capabilities to OpenAI. "Oracle’s once-stodgy image levels up to ’cloud-native mage,’ and the competitive map now looks less like a classic three-player real time strategy and more like a battle-royale with everyone dropping in, looking for compute loot", said Michael Ashley Schulman, partner at Running Point Capital Advisors. Oracle expects total revenue to be at least $67 billion for fiscal 2026, CEO Safra Catz said on a post-earnings call. The Texas-based company’s cloud services quarterly revenue rose 14% to $11.70 billion. Its overall revenue of $15.90 billion beat estimates of $15.59 billion.At least nine brokerages have raised their price target post-earnings. Oracle trades at a forward price-to-earnings ratio of 25.86, compared to rivals Microsoft (NASDAQ:MSFT) at 31.34 and Amazon (NASDAQ:AMZN) at 31.80, according to data compiled by LSEG. Microsoft’s stock has gained 12.16%, while Amazon’s has decreased by 2.8% so far this year. "ORCL has entered an entirely new wave of enterprise popularity that it has not seen since the Internet era in the late 90s," analysts at Piper Sandler added. Should you invest $2,000 in MSFT right now? With MSFT making headlines, savvy investors are asking: Is it truly valued fairly? In a market full of overpriced darlings, identifying true value can be challenging. InvestingPro's advanced AI algorithms have analyzed MSFT alongside thousands of other stocks to uncover hidden gems. These undervalued stocks, potentially including MSFT, could offer substantial returns as the market corrects. In 2024 alone, our AI identified several undervalued stocks that later surged by 30 or more. Is MSFT poised for similar growth? Don't miss the opportunity to find out.

Snowflake Stock Jumps on Strong Revenue Forecast  Investopedia

Blog Mobile Portfolio Widgets About Us Advertise Help & Support Authors Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks. Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed. Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website. It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website. Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

(Reuters) -Hotel operator Marriott International cut its full-year revenue growth forecast on Tuesday, signaling slow travel demand in the U.S. amid looming economic uncertainties. The Bethesda, Maryland-based company expects 2025 room revenue growth of 1.5% to 2.5%, compared with 1.5% to 3.5% increase forecast earlier.

(Reuters) -U.S. hotel operator Marriott International (NASDAQ:MAR) trimmed its full-year room revenue forecast on Tuesday, as tariff-induced uncertainties and federal spending cuts under President Donald Trump sap demand. The company highlighted a hit from a 10% drop in nights booked by the U.S. government, as Trump’s funding cuts trigger staff layoffs and tighter travel budgets. In March, United Airlines said government-related travel bookings slumped 50%, as the sweeping spending cuts reverberate across sectors of the U.S. economy. United Airlines also warned that the reduced government spending was having a ripple effect on the domestic leisure market. Marriott’s CFO Leeny Oberg echoed the comments during an earnings conference call, saying the company’s lower-priced tiers in the U.S. showed some signs of weaker demand. The company said visibility into the second half of the year was low due to a short booking window, which signaled increased consumer uncertainty and caution in spending on travel. Marriott expects 2025 room revenue growth of 1.5% to 3.5%, compared with 2% to 4% it forecast earlier. However, the 50 basis points cut was lower compared to the 150 basis points reduction by rival Hilton. Marriott’s shares were up 1.6% in morning trading after the company’s first-quarter adjusted profit of $2.32 per share beat estimates of $2.25. The company, which owns brands including Sheraton and Courtyard, expects second-quarter adjusted profit of $2.57 to $2.62 per share, below analysts’ estimates of $2.68. The Ritz-Carlton parent also said growth in revenue per available room (RevPAR) in the U.S. and Canada slowed in March, but was still up 3%. Marriott benefited from robust growth in its international markets, particularly in Asia-Pacific excluding China, where RevPAR jumped 10.9%, buoyed by strong demand in Southeast Asia from wealthy Chinese consumers. MAR: A Bull or Bear Market Play? Don't miss out on the next big opportunity! Stay ahead of the curve with ProPicks AI – 6 model portfolios fueled by AI stock picks with a stellar performance this year... In 2024 alone, ProPicks AI identified 2 stocks that surged over 150%, 4 additional stocks that leaped over 30%, and 3 more that climbed over 25%. That's an impressive track record. With portfolios tailored for Dow stocks, S&P stocks, Tech Stocks, and Mid Cap stocks, you can explore various wealth-building strategies. So if MAR is on your watchlist, it could be very wise to know whether or not it made the ProPicks AI lists.

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks. Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed. Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website. It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website. Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

(Reuters) -Tyson Foods raised its annual revenue growth forecast and posted a better-than-expected third quarter on Monday, betting on resilient demand for meat products, especially chicken, sending its shares up about 4% before the bell. Profit margins jumped in Tyson’s chicken and prepared foods businesses during the quarter, while they worsened in its beef segment. Tight U.S. cattle supplies continue to force Tyson and other meatpackers to pay more money to buy livestock to slaughter into beef. However, the Springdale, Arkansas-based company has seen sustained demand for frozen meat and ready-to-eat food as consumers increasingly opted to cook meals at home in the face of growing uncertainties about tariffs and economic growth. The Ball (NYSE:BALL) Park hotdogs maker expects fiscal 2025 revenue to grow between 2% and 3%, compared with its prior forecast of flat-to-up 1%. "Chicken continues to provide support to the business as the company continues to face beef headwinds," brokerage Stephens said in a note. Tyson said it expects its chicken business to earn an annual adjusted operating income of $1.3 billion to $1.4 billion, up from its previous forecast of $1 billion to $1.3 billion. Its beef business — the largest product segment by sales — is expected to lose $375 million to $475 million in fiscal 2025, compared with the previous loss estimate of $200 million to $400 million. Volumes in Tyson’s beef segment were down 3.1% during the quarter ended June 28, but sales grew 6.9% as prices jumped 10%. The segment had an adjusted operating loss of $151 million, including a goodwill impairment charge of $343 million. That compares with losses of $69 million a year earlier. Sales in the chicken segment rose 3.5%, with volumes up 2.4%. Tyson earned 91 cents per share, on an adjusted basis, while the estimate was 78 cents. Before you buy stock in BALL, consider this: ProPicks AI are 6 easy-to-follow model portfolios created by Investing.com for building wealth by identifying winning stocks and letting them run. Over 150,000 paying members trust ProPicks to find new stocks to buy – driven by AI. The ProPicks AI algorithm has just identified the best stocks for investors to buy now. The stocks that made the cut could produce enormous returns in the coming years. Is BALL one of them?

An anonymous reader shares a report: For two years, ChatGPT has been OpenAI's cash cow. But by the end of the decade, the company has told some potential and current investors it expects combined sales...

(Reuters) -Peloton Interactive forecast 2026 revenue above estimates and said it would cut 6% of its global workforce to boost cost savings under an ongoing turnaround effort, sending the exercise-bike maker’s shares up nearly 23% premarket. The company also posted a surprise profit for the fourth quarter. The layoffs, along with plans to slash indirect costs and relocate some offices, are expected to help save an additional $100 million by the end of its next fiscal year, it said on Thursday. CEO Peter Stern (AS:PBHP), who joined the company in January from Ford Motor (NYSE:F), had kicked off the turnaround effort to address a slump in sales of Peloton (NASDAQ:PTON)’s high-end stationary bikes and treadmills following a boom during the COVID lockdowns, when people were looking to work out at home. In a sign the cost push was bearing fruit, operating expenses fell 20% in the fourth quarter, while general and administrative expenses were down 33% from last year. Gross margin from its connected fitness products such as technology-enabled home exercise machines rose 900 basis points to 17.3% from a year ago. Gross profit in the segment rose 96% to $34.4 million. Peloton posted quarterly profit of 5 cents per share, compared with Wall Street estimates for a loss of 6 cents per share. The company forecast 2026 revenue in the range of $2.4 billion to $2.5 billion, higher than analysts’ estimate of $2.41 billion, according to data compiled by LSEG. Total revenue for the quarter ended June was $606.9 million. Analysts, on average, were expecting revenue of $579.80 million in the fourth quarter. Don't miss out on the next big opportunity! Stay ahead of the curve with ProPicks – 6 model portfolios fueled by AI stock picks with a stellar performance this year.. In 2024 alone, ProPicks' AI identified 2 stocks that surged over 150%, 4 additional stocks that leaped over 30%, and 3 more that climbed over 25%. That's an impressive track record. With portfolios tailored for Dow stocks, S&P stocks, Tech Stocks, and Mid Cap stocks, you can explore various wealth-building strategies. So if F is on your watchlist, it could be very wise to know whether or not it made the ProPicks lists.