Month: July 2022

Stocks making the biggest moves premarket: Walmart, General Motors, Polaris and more
Business

Stocks making the biggest moves premarket: Walmart, General Motors, Polaris and more

Check out the companies making headlines before the bell: Walmart (WMT) – Walmart slumped 9.5% in the premarket after cutting its outlook for the current quarter and full year. The retail giant said higher prices for food and fuel are prompting consumers to cut back, and it’s had to cut prices at its stores to […]

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What Walmart’s profit warning means for Amazon, Target and the rest of retail
Business

What Walmart’s profit warning means for Amazon, Target and the rest of retail

Walmart ‘s recent profit warning could spell trouble for the broader retail market while further driving concerns that a recession may be sooner than anticipated, according to some analysts. The retailer on Monday slashed its profit outlook for the quarter and full year as shoppers shift spending from discretionary items like clothing and electronics toward […]

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Ferrari CEO shrugs off concerns about EV performance
Technology

Ferrari CEO shrugs off concerns about EV performance

A Ferrari photographed in Switzerland on March 2, 2015. The Italian company plans to launch a fully electric vehicle in 2025. Harold Cunningham | Getty Images News | Getty Images The CEO of Ferrari on Tuesday moved to allay fears the firm’s upcoming electric offering will compromise on performance, telling CNBC the luxury carmaker had […]

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McDonald’s earnings are out – Here are the numbers
Business

McDonald’s earnings are out – Here are the numbers

\A sign is posted in front of a McDonald’s restaurant on April 28, 2022 in San Leandro, California. Justin Sullivan | Getty Images McDonald’s reported its second-quarter earnings before the bell on Tuesday. Here are the numbers: Adjusted earnings per share: $2.55. Wall Street analysts surveyed by Refinitiv expected $2.47, which may not be comparable. […]

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3M will spin off its health care business into a new public company
Health

3M will spin off its health care business into a new public company

A 3M logo is seen atop a Versaflo TR-300+ powered air purifying respirator hood as Nurse Evan Brost puts on personal protective equipment (PPE) before entering a patient room in a wing housing coronavirus disease (COVID-19) patients at UW Health University Hospital in Madison, Wisconsin, U.S. November 18, 2020. Daniel Acker | Reuters 3M announced […]

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Bank of America cuts Apple price target, citing foreign exchange headwinds
Technology

Bank of America cuts Apple price target, citing foreign exchange headwinds

Ongoing foreign exchange headwinds, Covid-19 disruptions and a drop in services revenue will continue to hit Apple in the near future, according to Bank of America. Citing these concerns, analyst Wamsi Mohan slashed the bank’s price target on the stock to $185 from $200 a share in a note to clients on Tuesday. He noted […]

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Sam Bankman-Fried’s FTX is in talks to buy crypto exchange Bithumb, continuing its acquisition spree
Technology

Sam Bankman-Fried’s FTX is in talks to buy crypto exchange Bithumb, continuing its acquisition spree

Vidente, the owner of South Korean cryptocurrency exchange Bithumb, said on Tuesday it has held discussions about a possible sale of its stake to FTX. Talks of another acquisition are part of FTX and its founder Sam Bankman-Fried’s (above) aggressive acquisition approach amid a major downturn in the cryptocurrency market. Stefani Reynolds | Bloomberg | […]

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General Motors earnings are out – Here are the numbers
Business

General Motors earnings are out – Here are the numbers

GM CEO Mary Barra talks with media prior to the start of the 2017 General Motors Company Annual Meeting of Stockholders Tuesday, June 6, 2017 at GM Global Headquarters in Detroit, Michigan. Photo by John F. Martin for GM General Motors reported its second-quarter earnings before the U.S. markets open on Tuesday. Here are the […]

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Two European satellite companies are combining in a .4 billion deal to rival Elon Musk’s SpaceX
Technology

Two European satellite companies are combining in a $3.4 billion deal to rival Elon Musk’s SpaceX

OneWeb, which emerged from bankruptcy in 2020, is hoping the combination with Eutelsat will help turn its fortunes around. Jody Amiet | AFP via Getty Images U.K. satellite operator OneWeb plans to join forces with European rival Eutelsat in a deal the two companies hope will help them take on Elon Musk’s SpaceX. Eutelsat will […]

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Intel plans to make chips for Taiwan’s MediaTek to keep up with Asian manufacturing rivals
Technology

Intel plans to make chips for Taiwan’s MediaTek to keep up with Asian manufacturing rivals

Intel Foundry Services will manufacture multiple chips for MediaTek for a range of smart edge devices, the two companies said on Monday. Fabian Bimmer | Reuters Intel will manufacture semiconductors for Taiwan’s MediaTek, giving the U.S. company a big boost for its contract chipmaking business. MediaTek is one of the biggest suppliers of smartphone processers […]

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