All articles tagged with #us demand
Oil prices increased slightly after a Ukrainian drone attack on Russia's largest oil port, but gains were limited due to concerns over US economic data indicating a bearish outlook and potential impacts on demand. Market focus remains on geopolitical tensions, US economic indicators, and OPEC+ supply forecasts, with global oil supply expected to rise more rapidly than previously thought.
The article discusses how US tariffs and high demand are causing a shortage of Japanese matcha, a traditional green tea powder, impacting farmers and the industry amid a growing global and US market driven by health trends and modern consumption methods.
Honda has halted the development of a large electric SUV and is shifting its focus from EVs to more profitable hybrid vehicles due to declining demand for electric vehicles in the US.
Newly listed Birkenstock beat revenue expectations in its first fiscal quarter as a public company, reporting a 22% year-on-year jump in sales, driven by higher pricing and rising U.S. demand. The company reported a net loss of 4 euro cents per share, but excluding one-time items, it reported a profit of 9 euro cents per share, matching Wall Street estimates. CEO Oliver Reichert highlighted the deliberate distribution strategy to keep demand higher than supply and emphasized the company's confidence in delivering its gross profit margin and adjusted EBITDA margin objectives. Since going public, Birkenstock has seen its market cap double to around $9.7 billion, and it has used some of its proceeds to pay down debt.
Bitcoin's surge to $52,000 is attributed to strong U.S. investor demand, as indicated by the highest price premium on Coinbase in 9 months, according to CryptoQuant data. The majority of the price appreciation occurred during U.S. trading hours, with modest gains during Asian and European sessions. The so-called "Coinbase Premium Index" reached its highest level since May 2023, suggesting significant buying pressure from U.S. investors. Bitcoin's market capitalization surpassed $1 trillion for the first time since December 2021, with spot BTC ETFs attracting nearly $500 million in daily net inflows.
Tapestry, the parent company of Coach, reported lower-than-expected quarterly results and forecasted weak profit and sales for fiscal 2024. The decline in demand for luxury handbags and accessories in the United States, due to a higher cost of living and inflation, offset the boost from solid demand recovery in China. Tapestry's sales were also impacted by a strong dollar, resulting in declines across its brands, including Kate Spade and Stuart Weitzman. The company expects adjusted earnings of $4.10 to $4.15 per share in fiscal 2024, below analysts' estimates.
Enphase Energy, a solar inverter maker, has forecasted third-quarter revenue below expectations due to weak demand in the United States, causing its shares to drop by 13.4%. The company expects revenue between $550 million and $600 million, compared to analysts' average estimate of $746.5 million. The U.S. market, which accounts for 70% of Enphase's revenue, has experienced a slowdown due to factors such as cheaper electricity prices and the Federal Reserve's tightening policies. However, Enphase has seen a 25% increase in revenue from the European market, which is looking to reduce its dependence on Russian fuel and transition to clean energy.
Enphase Energy's stock fell 25% after the company warned that its sales growth could slow due to weak demand for its solar products in the US, which is a concerning sign for the solar industry. Other solar stocks, including Sunrun and SolarEdge, also fell in response to the news.
Enphase Energy's stock fell 25% after the company warned that its sales growth could slow due to weak demand for its solar products in the US, which is a concerning sign for the solar industry. Other solar stocks, including Sunrun and SolarEdge, also fell in response to the news.