Payroll and human resources software provider, Paychex (NASDAQ:PAYX) met Wall Street’s revenue expectations in Q1 CY2025, with sales up 4.8% year on year to $1.51 billion. Its non-GAAP profit of $1.49 per share was 0.7% above analysts’ consensus estimates.
Federal Reserve Bank of Chicago President Austan Goolsbee said if long-term inflation expectations are raised by the market, this could become a self-fulfilling prophecy.
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Wall Street continues to tighten its outlook for stocks in 2025.
Tesla’s stock closed higher Tuesday for the fifth straight day, a remarkable and sustained rally that has recaptured a quarter of the value it lost in the last three months. It may not last.
Workforce housing company Target Hospitality (NASDAQ:TH) beat Wall Street’s revenue expectations in Q4 CY2024, but sales fell by 33.7% year on year to $83.69 million. The company’s full-year revenue guidance of $275 million at the midpoint came in 3.5% above analysts’ estimates. Its GAAP profit of $0.12 per share was 80% above analysts’ consensus estimates.
The benchmark S&P 500 and the tech-heavy Nasdaq declined in choppy trading on Wednesday, with investors exercising caution as they awaited economic data and clarity on the Trump administration's fresh tariffs that are expected to take effect next week. U.S. equities experienced a brief reprieve over the last two sessions, following President Donald Trump's indication that not all tariffs would be enforced by the April 2 deadline, with certain nations potentially being granted exemptions—though specifics remain elusive. The S&P has ascended over 4% since its mid-March lows, while the Nasdaq has advanced roughly 6%.
Discount treasure-hunt retailer Dollar Tree (NASDAQ:DLTR) missed Wall Street’s revenue expectations in Q4 CY2024, with sales falling 42.1% year on year to $5 billion. Next quarter’s revenue guidance of $4.55 billion underwhelmed, coming in 42.1% below analysts’ estimates. Its non-GAAP profit of $2.29 per share was 4.3% above analysts’ consensus estimates.
Copper futures traded in New York surged to a record high on a report that U.S. tariffs on imports of the metal are set to be coming within several weeks, months earlier than the deadline for a decision.