Expectations for the second quarter are relatively strong

Intel CEO Bob Swan is staying mostly upbeat on the path forward for the tech giant this year.

“So we had an outstanding first quarter. Our expectations for the second quarter are relatively strong. And our outlook for the second half is honestly, it’s a bit cloudy in light of how these global pandemic impacts on the economy is going to impact demand signals for the industry. But the first half will be very strong and we’ll learn more as we go through the second quarter for the outlook for the year,” Swan said on Yahoo Finance’s The First Trade.

Swan has a lot of reasons to stay optimistic on the trajectory of Intel even in the face of COVID-19, which has weighed on companies’ capital expenditure spending plans. Chief among them is a bang-up first quarter, underpinned by strength in the cloud business, PCs, and autonomous driving platform Mobileye.

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Beyond Meat earnings beat expectations, founder says it’s the plant-based meat ‘industry’s moment’

In a call with Yahoo Finance on Tuesday afternoon, Beyond Meat founder Ethan Brown sounds like a man ready to get his earnings day over quickly so he could start executing on what may be a defining summer in the 11-year history of his plant-based meat outfit.

Amid a shortage of traditional meat and poultry as the likes of Tyson struggles to keep plants safely open during the coronavirus pandemic, Brown is poised to unleash fury on a meat market in bad need of healthier alternatives…and actual supply. Brown’s weapons in this meat war? New value packs for supermarkets with more plant-based food in them and competitive pricing on traditional product lines and on offerings at restaurant chains.

All of these efforts should make Beyond Meat’s offerings cheaper to consumers at long last and drive trial. With that trial, there is a good chance of gaining plant-based food loyalists.


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Snap 1Q daily active users, revenue top expectations

Snap (SNAP), the parent company of photo-sharing app Snapchat, reported first-quarter user growth that exceeded consensus expectations, as stay-in-place orders amid the coronavirus pandemic contributed to heightened user activity.

Here were the main results from the report, compared to consensus estimates compiled by Bloomberg:

  • Revenue: $462.5 million vs. $420.8 million expected

  • Adjusted loss per share: 8 cents vs. 8 cents expected

  • Daily active users (DAU): 229 million vs. 223.8 million expected

  • Average revenue per user (ARPU): $2.02 vs. $1.87 expected

Wall Street anticipated mixed results from Snap as the coronavirus pandemic and social distancing measures contributed to shifts in both user and advertiser behavior. User engagement was expected to rise as more people stayed at home and turned to digital pastimes. But advertising revenue was expected to weaken, as business activity crippled by the outbreak forced companies to cut down on ad and marketing costs.

In a note published last

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‘Substantial deterioration’ in consumer expectations: NY Fed survey

The month of March saw a “substantial deterioration” in the main driver of the U.S. economy: the American consumer.

According to new data from the Federal Reserve Bank of New York, Americans reported greater concern of being laid off and heightened worries over being able to meet future debt payments.

Weaker consumer sentiment paints a bleak picture of where the U.S. is headed, since consumer activity represents about 70% of the economy. Federal Reserve officials have been saying that the economy is likely already in a recession.

TOPSHOT – Shoppers social distance themselves as they wait in line to get into Costco in Washington, DC, on April 5, 2020. – The number of confirmed coronavirus, COVID-19, cases in the United States has topped 300,000 and there have been more than 8,100 deaths, Johns Hopkins University reported on Saturday. (Photo by JIM WATSON / AFP) (Photo by JIM WATSON/AFP via Getty

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Nike 3Q earnings meet expectations, sales beat estimates

Nike (NKE) reported fiscal third-quarter sales that topped expectations and in-line earnings results, reflecting still-strong fundamentals through February even as the coronavirus outbreak generated a host of disruptions for the athletic-wear maker.

Here were the main results from the report, compared to consensus data compiled by Bloomberg:

  • Revenue: $10.1 billion vs. $9.55 billion expected

  • Earnings per share: 53 cents vs. 53 cents expected

  • Gross margin: 44.3% vs. 44.2% expected

Shares of Nike rose 4.5% in late trading to $75.39 apiece after results were released.

“In an extraordinarily dynamic time, Nike’s strong results are testament to our deep consumer connections, compelling product innovation and agile teams around the world. We know it’s in times like these that strong brands get even stronger,” CEO John Donahoe said in a statement. “As we start to see recovery in China, no one is better equipped than Nike to navigate the current climate.”

Nike has

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