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  • Business
    Yahoo Finance

    GDP: US economy grows at 1.6% annual pace in first quarter, falling short of estimates

    The reading of first quarter economic growth comes at a crucial time as investors digest the potential impacts of the Fed holding interest rates higher for longer.

  • Business
    Reuters

    A. O. Smith posts quarterly profit beat on resilient water heater demand

    The Milwaukee, Wisconsin-based company has also benefited from growing demand for its energy-efficient boilers as commercial buildings look to improve their carbon footprints. Adjusted profit for the first quarter was $1 per share, compared with 94 cents per share a year earlier.

  • Business
    The Canadian Press

    Stock market today: Wall Street slides in premarket as airlines, Big Tech report earnings

    TOKYO — Markets on Wall Street gave back some of this week's gains early Thursday ahead of another heavy slate of corporate earnings and the government's initial estimate of how the U.S. economy fared in the first quarter of 2024. Futures for the Dow Jones industrials and the S&P 500 each declined 0.6% before the bell. Southwest Airlines fell nearly 8% after the carrier said it lost $231 million in the first quarter and will limit hiring, offer voluntary leave to employees and stop flying to fou

  • Business
    Reuters

    Altria tops first quarter sales on higher pricing, robust demand for smokeless alternatives

    Like other tobacco giants, Altria has been revamping its portfolio of products to keep up with consumers switching from traditional tobacco products to vapes or other alternatives and as inflation-hit smokers switched to cheaper brands. The company's net revenue came in at $5.58 billion in the first quarter, topping analyst expectations of $4.71 billion, while profit on an adjusted basis came in line with expectations. Last year, Altria launched a lower-priced version of its flagship Marlboro brand and finalized its acquisition of e-cigarette startup NJOY Holdings, expanding its portfolio to include pod-based vapes.