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U.S. applications for jobless benefits rose modestly last week as business continue to retain workers despite fears of a possible economic downturn. Jobless claim applications inched up by 6,000 to 222,000 for the week ending April 19, the Labor Department said Thursday. Weekly applications for jobless benefits are considered a proxy for layoffs, and have mostly stayed in a healthy range between 200,000 and 250,000 for the past few years.

WASHINGTON (Reuters) -The number of Americans filing new applications for unemployment benefits rose marginally last week, suggesting the labor market remained resilient despite darkening clouds over the economy caused by tariffs on imported goods. But growing economic uncertainty caused by President Donald Trump's constantly shifting tariffs policy is eroding business and consumer confidence, which could undercut spending and lead to job losses. Signs of caution among businesses, evident in surveys and corporations cutting financial guidance, were reinforced by other government data on Thursday showing business spending on equipment barely rose in March.

Southwest Airlines shares fell in premarket trading Thursday, a day after the carrier withdrew full-year earnings projections and said it was reducing capacity amid "macroeconomic uncertainty."

Vehicle manufacturer Shyft (NASDAQ:SHYF) reported revenue ahead of Wall Street’s expectations in Q1 CY2025, with sales up 3.4% year on year to $204.6 million. The company’s full-year revenue guidance of $920 million at the midpoint came in 3.8% above analysts’ estimates. Its non-GAAP profit of $0.07 per share was significantly above analysts’ consensus estimates.

Beverage company Keurig Dr Pepper (NASDAQ:KDP) reported Q1 CY2025 results topping the market’s revenue expectations, with sales up 4.8% year on year to $3.64 billion. Its non-GAAP profit of $0.42 per share was 9.8% above analysts’ consensus estimates.

Telecommunications and media company Comcast (NASDAQ:CMCSA) met Wall Street’s revenue expectations in Q1 CY2025, but sales were flat year on year at $29.89 billion. Its non-GAAP profit of $1.09 per share was 9.9% above analysts’ consensus estimates.

Commercial lighting and retail display solutions provider LSI (NASDAQ:LYTS) reported Q1 CY2025 results beating Wall Street’s revenue expectations, with sales up 22.5% year on year to $132.5 million. Its non-GAAP profit of $0.20 per share was in line with analysts’ consensus estimates.

Food and beverage company PepsiCo (NASDAQ:PEP) reported Q1 CY2025 results topping the market’s revenue expectations, but sales fell by 1.8% year on year to $17.92 billion. Its non-GAAP profit of $1.48 per share was 0.8% below analysts’ consensus estimates.

News of the day for April 24, 2025

Global airline American Airlines (NASDAQ:AAL) met Wall Street’s revenue expectations in Q1 CY2025, but sales were flat year on year at $12.55 billion. Its non-GAAP loss of $0.59 per share was 12.1% above analysts’ consensus estimates.