Reported about 1 month ago
Tesla's recent announcement of plans to launch autonomous ride-hailing services in California and Texas by 2025, alongside strong earnings performance, has led to a significant surge in its market value by about $80 billion. This development has negatively impacted the stock prices of Uber and Lyft, intensifying competition within the ride-hailing industry.
Source: YAHOO
Reported about 1 month ago
United Parcel Service (UPS) has reported its first profit growth in nearly two years, driven by a 6.5% increase in average daily US volume and improved profitability per package. Adjusted earnings reached $1.76 per share, surpassing analyst estimates, which led to a share price increase of up to 10% in morning trading. Despite ongoing challenges in the shipping industry and a revised revenue forecast for the year, UPS remains optimistic about consumer spending ahead of the holiday season.
Source: YAHOO
Reported about 1 month ago
Tesla's stock experienced its best day since 2013, soaring nearly 22% following the company's third quarter earnings report, which revealed adjusted earnings per share exceeding expectations and improved gross margins. CEO Elon Musk highlighted potential volume growth of 20%-30% for the next year and confirmed the forthcoming production of a more affordable electric vehicle model. Despite lower-than-expected revenues, the overall performance led to a significant increase in Tesla's market valuation.
Source: YAHOO
Reported about 1 month ago
Tesla's shares soared nearly 22% on Thursday, marking its best performance since 2013, following the release of its third quarter earnings. Investors were optimistic about the company’s adjusted earnings per share and higher gross margins, alongside news of an upcoming affordable electric vehicle model expected in production next year. Though total revenue was slightly below expectations, Tesla's delivery growth and future forecasts of 20%-30% volume increase for next year buoyed investor confidence.
Source: YAHOO
Reported about 1 month ago
Boeing workers have voted against the company's latest labor contract proposal, with 64% rejecting it, which extends the ongoing strike initiated by the International Association of Machinists and Aerospace Workers in September. Additionally, Boeing reported a significant $6 billion loss for the third quarter, including a $2 billion deficit in its aerospace and defense sectors.
Source: YAHOO
Reported about 1 month ago
UK government bonds experienced a decline as investors anticipated Chancellor Rachel Reeves' proposal for a substantial borrowing plan to enhance investment and address the fiscal deficit left by the previous administration. The yield on 10-year gilts rose alongside predictions of increased borrowing, potentially widening the funding gap for public services. Analysts suggest that Reeves' budget announcement on October 30 could significantly influence the country’s financial trajectory, while it also raises concerns about inflationary pressures and the Bank of England's future policies.
Source: YAHOO
Reported about 1 month ago
Banca Progetto, a bank owned by Oaktree Capital Management, is under scrutiny for allegedly lending to companies linked to the ‘ndrangheta mafia, leading to its judicial administration. This situation arises shortly after Oaktree agreed to sell the bank to Centerbridge Partners. A court found deficiencies in the bank's loan processes, prompting concerns over compliance with money-laundering regulations. Despite the crisis, the bank's CEO expressed confidence in its operational integrity and expects a resolution regarding the sale process.
Source: YAHOO
Reported about 1 month ago
ECB Governing Council member Joachim Nagel advises against rushing into interest rate cuts, emphasizing a need for flexibility based on economic data. With inflation projected to meet the ECB's 2% target sooner than expected, discussions on the next steps have become contentious. Although some officials advocate for quicker cuts, Nagel stresses the importance of careful consideration amid persisting risks to prices. He anticipates valuable insights from the ECB's upcoming quarterly outlook but refrains from speculating on the December meeting's decisions.
Source: YAHOO
Reported about 1 month ago
Rogers Communications Inc., Canada's largest wireless provider, is close to finalizing a structured equity investment of C$7 billion ($5.1 billion) aimed at financing parts of its network and reducing debt. The company announced a non-binding term sheet with an unnamed global financial investor, intending to maintain operational control over its networks despite this deal. Following the announcement, Rogers' shares dropped significantly, but the financial maneuver is seen as a positive step toward lowering its leverage ratio and strengthening its balance sheet.
Source: YAHOO
Reported about 1 month ago
In the latest market updates, Tesla reported mixed earnings for Q3, leading to a surge in its stock value, while UPS posted better-than-expected financial results. On a different note, Boeing faced further labor challenges as its factory workers rejected a proposed contract amidst ongoing strikes.
Source: YAHOO
Reported about 1 month ago
Whirlpool Corp. reported better-than-expected earnings and reaffirmed its full-year sales forecast despite a slump in pre-election consumer spending. The company's net sales fell short of projections at $3.99 billion, attributed to ongoing weakness in the US housing market and cautious consumer behavior prior to the presidential election. However, adjusted earnings per share exceeded expectations due to price increases. While Whirlpool anticipates a slight recovery in consumer sentiment post-election, it is implementing cost-cutting measures to maintain profitability.
Source: YAHOO
Reported about 1 month ago
In an article highlighting improvements for Costco, the author suggests reinstating early shopping hours for Executive members, creating a more efficient online ordering system for cakes, and implementing a 'scan and go' checkout process to reduce wait times. These changes could potentially enhance the overall shopping experience at Costco, addressing common complaints such as long lines and cumbersome cake ordering.
Source: YAHOO
Reported about 1 month ago
A couple, both 65 years old with $1 million in savings and $42,000 in Social Security benefits, seeks advice on whether they can retire on $90,000 annually. Financial planning factors such as tax implications, investment strategies, risk tolerance, and withdrawal rates must be considered to determine the feasibility of sustaining their desired retirement lifestyle. Consulting a financial advisor can provide tailored insights and strategies.
Source: YAHOO
Reported about 1 month ago
Since the last U.S. presidential election, three growth stocks—Super Micro Computer, MicroStrategy, and Viking Therapeutics—have remarkably outperformed Nvidia, generating returns of 1,940%, 1,160%, and 1,040% respectively. These gains stemmed from advancements in AI and other market dynamics rather than political outcomes, signifying that long-term investment success relies more on business fundamentals than electoral results.
Source: YAHOO
Reported about 1 month ago
Source: YAHOO
Reported about 1 month ago
The Yahoo Finance podcast discusses how a robust job market has contributed to ongoing stock market stability in 2024. Strategist Callie Cox highlights the unprecedented low unemployment rates and strong wage growth, suggesting that these factors have helped maintain affordability despite inflation. She emphasizes the importance of understanding that stable prices can lead to higher, more manageable costs when wages are also increasing, while cautioning against deflation as a potential indicator of economic trouble.
Source: YAHOO
Reported about 1 month ago
Source: YAHOO
Reported about 1 month ago
Wall Street is buzzing with mixed earnings reports from major companies. Tesla reported better-than-expected adjusted earnings but missed on revenue, while projecting a slight increase in deliveries for 2024. UPS exceeded profit forecasts, and Southwest Airlines also reported strong earnings amid a proxy battle. In contrast, Boeing's striking workers rejected a new labor deal, highlighting ongoing labor tensions.
Source: YAHOO
Reported about 1 month ago
Goldman Sachs predicts a dismal 3% average annual return for the S&P 500 over the next decade, prompting concern for investors in funds like the Vanguard 500 ETF. However, some analysts argue that Goldman's outlook may be overly pessimistic, citing historical bull markets and potential ongoing growth in sectors like AI. Despite a concentration in top tech stocks, the S&P 500's market-cap weighting could still lead to significant returns, making it a worthwhile investment.
Source: YAHOO
Reported about 1 month ago
Cirrus Logic, known for supplying chips to Apple, has seen its stock rise 43% this year and is expected to continue its upward trend following its upcoming earnings report on November 4. With a solid relationship with Apple, which accounts for 88% of its revenue, and the recent success of Apple's iPhone 16 lineup, Cirrus is positioned to benefit from increased sales and potential expansion into new product offerings, making it an attractive stock for investors.
Source: YAHOO
Reported about 1 month ago
Source: YAHOO
Reported about 1 month ago
Elon Musk's reputation for being a distracted leader may actually work in his favor as his recent political activities align with his business interests. Despite concerns from Tesla shareholders about his focus, Musk's initiatives, including a lottery for voters, have not hindered the company's performance, evidenced by a profit increase reported after his earnings call. Critics question the legality of Musk's political moves, but supporters argue that such controversies do not detract from his appeal and success.
Source: YAHOO
Reported about 1 month ago
Source: YAHOO
Reported about 1 month ago
Clara Shih, CEO of Salesforce AI, is leading the company's initiative to become an AI powerhouse as it faces disruption in the tech landscape. Building on her extensive experience in tech innovation, she aims to enhance customer service through AI solutions like the newly launched Agentforce platform, which provides businesses with customizable autonomous agents. Shih is optimistic about navigating the regulatory challenges ahead to ensure that Salesforce leads in AI while maintaining consumer trust.
Source: YAHOO