Shares of Air Products and Chemicals (APD) fell sharply after the company reported disappointing fiscal first-quarter earnings results and reduced its 2024 outlook. Air Products missed expectations on both the top and bottom lines for the first-quarter. Revenue came in at $2.99 billion, below analyst estimates of $3.20 billion. Adjusted EPS also fell short at $2.82 versus expectations of $3.01. The company cited a manufacturing slowdown in China as a key factor behind the weak quarterly performance. Yahoo Finance's Julie Hyman and Josh Lipton break down the details of this trending ticker. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Angel Smith
Shares of Air Products and Chemicals (APD) fell sharply after the company reported disappointing fiscal first-quarter earnings results and reduced its 2024 outlook.
Air Products missed expectations on both the top and bottom lines for the first-quarter. Revenue came in at $2.99 billion, below analyst estimates of $3.20 billion. Adjusted EPS also fell short at $2.82 versus expectations of $3.01.
The company cited a manufacturing slowdown in China as a key factor behind the weak quarterly performance.
Yahoo Finance's Julie Hyman and Josh Lipton break down the details of this trending ticker.
For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Editor's note: This article was written by Angel Smith
The Wall Street Journal
A Johnson & Johnson employee has accused the company of mismanaging its workers’ prescription-drug benefits, a new tack in efforts to hold employers accountable for high medicine costs. The lawsuit, filed Monday in a federal court in New Jersey, alleged J&J didn’t make enough effort to get its workers a good deal for prescription drugs, and the employees overpaid for some generic drugs designated as specialty medications by millions of dollars. The lawsuit asks J&J to make good on losses to the employees’ health plan from alleged mismanagement, but doesn’t stipulate a sum.
Associated Press Finance
An average of 16.9 million viewers tuned in to see performances by Miley Cyrus and Billie Eilish and watch Taylor Swift make history at the Grammy Awards on Sunday, the largest audience for the telecast in four years and another consecutive annual increase for a show that is recovering from its pandemic declines. The numbers Sunday easily beat the 12.4 million people who tuned in to watch Harry Styles, Lizzo and Bad Bunny perform during the show in 2023, along with a tribute to 50 years of rap history.
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