Month: July 2022
Gun companies made more than $1 billion from assault weapon sales over a decade, House panel says
Fire arms are seen at the Bobâs Little Sport Gun Shop in the town of Glassboro, New Jersey, United States on May 26, 2022. Tayfun Coskun | Anadolu Agency | Getty Images Major gun manufacturers have made over $1 billion in the last decade selling military-style assault weapons, according to an investigation by the House […]
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President Biden tests negative for Covid and will end strict quarantine
President Joe Biden, who tested positive today for Covid-19 this morning, posts on Twitter “Folks, I’m doing great. Thanks for your concern. Just called Senator Casey, Congressman Cartwright, and Mayor Cognetti (and my Scranton cousins!) to send my regrets for missing our event today.” Courtesy: White House President Joe Biden has tested negative for Covid-19 […]
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Boeing takes additional charge for Starliner astronaut capsule, bringing cost overruns to near $700 million
Boeing’s Starliner spacecraft is seen before docking with the International Space Station on May 20, 2022 during the uncrewed OFT-2 mission. NASA Boeing disclosed a charge of $93 million in the second quarter for its Starliner astronaut capsule program, bringing the program’s overrun costs to nearly $700 million. The aerospace giant said the latest charge […]
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Spirit shareholders to finally vote on Frontier deal clouded by rival JetBlue bid
A Frontier Airlines plane near a Spirit Airlines plane at the Fort Lauderdale-Hollywood International Airport on May 16, 2022 in Fort Lauderdale, Florida. Joe Raedle | Getty Images Spirit Airlines shareholders are scheduled to finally vote on a planned tie-up with Frontier Airlines on Wednesday, a deal that has been on the rocks following a […]
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JPMorgan analysts say buy Regions and PNC as markets wrestle with recession fears
Big U.S. banks have begun to reap the rewards of higher interest rates as the Federal Reserve combats inflation with a series of hikes, as evidenced by second-quarter results earlier this month. Thanks to higher rates and good loan growth, banks posted a 9% surge in second-quarter net interest income on a quarterly basis. This […]
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Microsoft and Alphabet earnings are signaling one thing: A lot of bad news has been priced in
Well, that covers just about … everything. Microsoft earnings release cited a litany of issues: unfavorable foreign exchange, extended productions shutdown in China, a deteriorating PC market in June, reductions in advertising spending and scaling down Russian operations. It left out frogs, boils, locusts, lice and hail, so the press release does not quite rise to […]
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Loop Capital downgrades Logitech to hold, says recession has hit the computer peripherals firm
Greater inflation and lower consumer spending have finally hit consumer electronics company Logitech , according to Loop Capital. Analyst Ananda Baruah downgraded shares of Logitech to hold from buy, with a $55 price target, saying that the company’s recent earnings miss shows fewer consumers are buying computer peripherals for gaming and work-from-home setups. “Moving to […]
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Alphabet is still a buy despite uncertain macro ahead, analysts say after earnings
Alphabet is still a buy, even as uncertainty mounts for the tech giant amid a tough macro environment, according to analysts. Google’s parent company on Tuesday delivered quarterly earnings and revenue that missed analyst expectations. However, the company’s report showed strong year-over-year search revenue growth, helping appease investors and analysts. The stock traded more than […]
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Boeing sticks to 2022 cash flow forecast, prepares for Dreamliner deliveries to resume
An aerial view of Boeing 777X and Boeing 737 MAX 10 airplanes parked at King County International Airport-Boeing Field, in Seattle, Washington, June 1, 2022. Lindsey Wasson | Reuters Boeing on Wednesday stuck by its forecast to return to free cash flow in this year as it prepares to resume deliveries of its 787 Dreamliner planes after manufacturing flaws […]
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Analysts cheer Microsoft’s cloud results and upbeat forecast
A strong showing in its cloud business, as well as an upbeat fiscal year forecast, has Wall Street bullish on Microsoft after the tech giant’s latest quarterly release. Microsoft reported earnings and revenue in its most recent quarter that missed expectations. Still, investors approved of the revenue growth in Azure and cloud services, which jumped […]
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