Multiple leading U.S. corporations delivered disappointing figures in their quarterly financial reports Thursday as uncertainty about President Donald Trump's erratic tariffs and cautious consumer spending clouded their outlook.
Apple estimated that 900 million U.S. dollars could be added to its costs in the quarter ending in June if rates do not change. The Cupertino-based tech giant's shares fell 3.8-percent following the release of its quarterly results.
Amazon issued weaker-than-expected guidance for the second quarter. Analysts at Goldman Sachs warn that levies could reduce Amazon's operating profits by 5 to 10 billion U.S. dollars this year. The Seattle-based e-commerce giant engaged in forward buying of inventory before additional tariffs on Chinese imports were imposed, as roughly 25-percent of its sold items are imported from China.
McDonald's reported its steepest decline in the U.S. sales since the COVID pandemic, with same-store sales dropping 3.6 percent year on year in the first quarter. Analysts note a 10-percent decline in fast food visits by low- and middle-income diners during the quarter, signaling broader economic concerns.
Leading US companies report disappointing quarterly financial figures
Leading US companies report disappointing quarterly financial figures
The Iranian government is focusing on public concerns and maintaining stable supplies of essential goods amid recent protests, Iranian President Masoud Pezeshkian said in a televised interview on Sunday.
In the city of Karaj, northwest of the capital Tehran, daily life has largely continued as normal. A video filmed by a local resident on Sunday shows food stores open and grocery shelves fully stocked.
"This is the block near my home, and there are some food stores here. Daily life continues here. Last night we did not see many protests in Karaj. Right now the city is very safe. This is a grocery store close to my home. All the food is available; nothing is in shortage. Here are noodles and different types of beans. Here are dairy products, cheese, and yogurt. I also checked other grocery stores and didn't see any shortages. Everything is available," said local resident Ali Reza.
Iranian officials have described recent disturbances as acts orchestrated by the "enemy," including some carried out by well-trained and armed "terrorists." The incidents have caused casualties among security personnel and civilians, as well as property damage.
The Secretary of Iran's Supreme National Security Council Ali Larijani has directed authorities to severely punish the "terrorists."
Meanwhile, Iran's police chief Ahmad-Reza Radan said on Sunday that the police had raised alert levels and arrested several leaders of the troublemakers during the operations on Saturday.
President Pezeshkian noted in the interview that the normal demands of the Iranian people are reasonable and justified, but they must realize that triggering riots and carrying out terrorist acts are the enemy's attempts to undermine the country. He urged the public to remain vigilant.
Also on Sunday, Iranian Parliament Speaker Mohammad Baqer Qalibaf warned that Tehran would regard U.S. and Israeli bases and facilities in the Middle East as "legitimate targets" if Washington takes military action against Iran. His remarks followed media reports saying U.S. President Donald Trump is "seriously considering authorizing a strike" against Iran.
Iranian state media reported that at least 109 members of Iran's security forces have been killed in clashes since the protests began 14 days ago. Meanwhile, human rights groups based outside the country said the number of protesters killed has exceeded 200, though the figure could not be independently verified.
The protests initially erupted over a sharp depreciation of the rial and sweeping subsidy reforms. Iranian authorities have blamed the unrest on foreign-linked agents and sanctions imposed by the United States.
Iranian president says government focusing on ensuring supplies amid protests
