Reported 11 days ago
Luminar Technologies saw its stock surge by over 10% following the release of its third-quarter earnings, which, despite falling short of sales expectations, included positive news of new contracts with Volvo and a major Japanese automaker. The company's loss per share matched Wall Street forecasts, and management hinted at future growth, suggesting that sales would have been higher without a renegotiated contract. Investors remain cautious, noting the stock's significant decline over the year, but optimism around autonomous vehicle trends could signal a potential recovery.
Source: YAHOO
Reported 11 days ago
Skyworks Solutions, an Apple supplier, has projected its first-quarter revenue and profit to fall below Wall Street's expectations due to sluggish demand from automotive and industrial sectors, causing shares to drop 3.1%. The company anticipates revenue between $1.05 billion and $1.08 billion, which is below analysts' predictions. While it expects a slight increase in mobile business driven by seasonal product launches, overall challenges persist as rivals like Qorvo also report lower forecasts amid intense competition and shifting consumer preferences.
Source: YAHOO
Reported 11 days ago
Singapore Telecommunications (SingTel) announced a 42% decline in its first-half net profit, primarily due to the absence of a previous S$1.2 billion gain from a merger with Telkomsel. Despite this, SingTel expects a low double-digit growth in earnings before interest and tax (EBIT) for fiscal 2025. The company aims to boost its artificial intelligence and data center capabilities, continuing investments to cater to growing demand.
Source: YAHOO
Reported 11 days ago
Cava Group has raised its annual same-restaurant sales growth forecast to 12-13%, up from 8.5-9.5%, signaling strong demand for its Mediterranean menu amid a wider consumer spending slowdown. The company's shares jumped 13.1% following this announcement, reflecting a threefold increase in stock value this year. With foot traffic increasing by 27.5% in Q3, Cava is attracting a younger demographic, enhanced by its revamped loyalty program and effective menu pricing strategy.
Source: YAHOO
Reported 11 days ago
In an interview at the Yahoo Finance Invest conference, former CNN Worldwide Chairman Chris Licht discussed how podcasts and social media are reshaping news consumption, urging traditional media to adapt by engaging with emerging voices and communities. He emphasized the potential for investing in these new platforms to better connect with audiences.
Source: YAHOO
Reported 11 days ago
Spirit Airlines is currently engaged in constructive negotiations with its creditors to explore strategic alternatives for improving liquidity. However, following unsuccessful merger talks with Frontier Airlines, the company is reportedly preparing to file for bankruptcy. Spirit's financial struggles are evident, with a significant decline in stock value and a projected drop in its operating margin, prompting cost-cutting measures, including furloughing pilots and selling older aircraft.
Source: YAHOO
Reported 11 days ago
Volkswagen Group has increased its investment in Rivian by 16% to $5.8 billion, marking a significant step in their joint venture aimed at developing electric vehicle technology. This investment comes as Rivian prepares to launch its new R2 SUV amid financial challenges. The partnership, which is expected to facilitate technological advancements for both companies, will help Rivian move toward profitability while addressing ongoing issues within Volkswagen's software division.
Source: YAHOO
Reported 11 days ago
Wonder, a food delivery startup led by former Walmart executive Marc Lore, is reportedly in advanced negotiations to purchase Grubhub from Just Eat Takeaway.com. The European company had acquired Grubhub in 2020 for $7.8 billion. The deal could be valued below $1 billion and may enhance Wonder's revenues and supply direct access to delivery drivers.
Source: YAHOO
Reported 11 days ago
A protest in Nuevo Laredo, Mexico, has blocked northbound cargo traffic at the World Trade Bridge since Tuesday noon, causing significant delays. Demonstrators are advocating for justice for victims of forced disappearances, many attributed to criminal organizations. Authorities report over 100 protesters, who are demanding a meeting with state or federal officials before disbanding.
Source: YAHOO
Reported 11 days ago
SoundHound AI, Inc. announced a Q3 loss of $0.06 per share, better than the expected loss of $0.08, and reported revenues of $25.09 million, surpassing estimates by 5.96%. While the company has outperformed market expectations in revenue over the last year, its future performance hinges on management's insights and the earnings forecast, currently positioned as a Zacks Rank #3 (Hold). Despite a strong stock performance this year, investors are advised to monitor earnings estimate revisions for further insights.
Source: YAHOO
Reported 11 days ago
Brian Moynihan, CEO of Bank of America, shared his insights on how the Trump administration can revitalize businesses. He emphasized the need to improve government spending balance, reform tax laws, and address housing issues by incentivizing community development for more housing construction.
Source: YAHOO
Reported 11 days ago
Australia's financial regulator has initiated civil penalty proceedings against Cbus Super, one of the country's largest pension funds, due to significant delays in processing death benefits and insurance claims. It is alleged that some claims took over a year to process, affecting more than 10,000 individuals and resulting in an estimated A$20 million in financial losses. Cbus has acknowledged the delays and is working with the regulator to address the issues.
Source: YAHOO
Reported 11 days ago
Spirit Airlines is reportedly set to file for bankruptcy protection as negotiations with Frontier Airlines for a merger have collapsed. The budget carrier is in discussions with bondholders to create a bankruptcy plan that has the backing of most creditors, following significant financial losses and upcoming debt repayments. A filing could occur within weeks, with Spirit's stock plummeting nearly 47% amid these developments.
Source: YAHOO
Reported 11 days ago
Greg Lindberg, a prominent insurance executive, has pleaded guilty to charges connected to a $2 billion fraud and money laundering scheme, exploiting a network of companies across North Carolina, Bermuda, and Malta. The scheme spanned from 2016 to 2019 and aimed to deceive insurance regulators and policyholders.
Source: YAHOO
Reported 11 days ago
Mexico plans to allocate approximately $6 billion in its 2025 draft budget to support state-owned oil company Pemex, reflecting ongoing government backing for the troubled corporation. This comes as Pemex faces significant debt obligations, including $9 billion due next year and $13 billion due in 2026. The government also aims to simplify Pemex's tax structure to improve its financial health. President Claudia Sheinbaum has committed to maintaining prior support policies, easing investor concerns over Pemex's substantial $97.3 billion debt load.
Source: YAHOO
Reported 11 days ago
Korea Zinc Co. is set to meet to determine the fate of a contentious $1.8 billion share sale plan that has led to stock sell-offs and scrutiny from the financial watchdog. The conflict, involving the company's largest shareholders and rival bids, has escalated since September, raising concerns about corporate governance. A decision to proceed could exacerbate these issues, while shelving the plan would hinder efforts to gain shareholder support and manage debt.
Source: YAHOO
Reported 11 days ago
Amazon is closing its Freevee ad-supported streaming service and will integrate its employees and programming into the subscription-based Prime Video. This decision comes as part of a cost-cutting effort, as Freevee, which launched in 2019, struggled to maintain fresh programming amid rising operational costs. The company continues to explore options for delivering some Freevee shows in a free format while maximizing its online advertising business.
Source: YAHOO
Reported 11 days ago
Maplebear (CART) announced impressive Q3 results with revenues of $852 million, marking an 11.5% year-over-year growth, and earnings per share of $0.42, a significant improvement from last year's loss. This performance exceeded analyst expectations, showing a revenue surprise of +0.81% and an EPS surprise of +90.91%. Key metrics such as orders and gross transaction value also surpassed estimates, indicating strong financial health, while the company's stock has outperformed the S&P 500 index over the past month.
Source: YAHOO
Reported 11 days ago
The benchmark diesel price in the U.S. has fallen to its lowest level in over three years, dropping 1.5 cents to $3.521 per gallon. This decline in prices comes amid discussions on the potential consequences of Donald Trump's reelection on the oil market, with analysts skeptical about any significant increase in production. Factors contributing to the decrease include a strengthening U.S. dollar and varied global demand forecasts. While some anticipate that a Trump administration may pressure prices due to economic slowdowns and trade tariffs, others see supportive policies for the industry.
Source: YAHOO
Reported 11 days ago
Starting December 5, Diamond Sports Group, the largest regional sports network owner in the U.S., will offer single-game streaming for NBA and NHL games at a price of $6.99 per game. Fans will also have the option to purchase monthly or season pass subscriptions. This move aims to provide more flexible viewing options for sports enthusiasts as the company navigates its Chapter 11 bankruptcy proceedings.
Source: YAHOO
Reported 11 days ago
Source: INVESTORS
Reported 11 days ago
During a recent quarterly earnings call, Radiant Logistics reported a slight decline in revenue but identified positive trends for the future, including anticipated benefits from project freight related to hurricane relief. Despite soft market conditions expected to continue into 2025, the company reported better-than-expected earnings, a strategic focus on acquisitions and organic growth, and maintained a strong financial position with minimal debt.
Source: YAHOO
Reported 11 days ago
Asian stocks have dropped to a two-month low as investors brace for US inflation data that may impact Federal Reserve interest rate cuts. The market reacts to rising Treasury yields and increased inflation concerns driven by President-elect Trump’s proposed economic policies. As traders anticipate potential rate cuts, the bond market shows signs of preparing for a higher consumer price index. Key economic indicators are set to be announced, including US CPI and Eurozone GDP, as market players assess the broader economic landscape.
Source: YAHOO
Reported 11 days ago
Matt Carstens, CEO of a major Iowa farm cooperative, warns that President-Elect Trump's mass-deportation plan could exacerbate labor shortages in the US agriculture sector, which relies heavily on undocumented workers. With the agricultural industry facing challenges in hiring labor, particularly in states like California and the Midwest, the potential removal of millions of undocumented immigrants poses significant risks to farming operations.
Source: YAHOO
Reported 11 days ago
In a discussion with Yahoo Finance, Nobel laureate Joseph Stiglitz highlighted the dependence of the US economy's resilience on global stability. He praised the Biden administration for reducing inflation and warned against the potential risks of tariffs proposed by Trump, which could destabilize international relations and disrupt supply chains. Stiglitz underscored that while high interest rates present challenges, stability in fiscal policy and foreign relationships is crucial for the US economy's continued success.
Source: YAHOO