Month: July 2022
JPMorgan Chase earnings fell 28% after building reserves for bad loans, bank suspends buybanks
JPMorgan Chase said Thursday that second-quarter profit slumped as the bank built reserves for bad loans by $428 million and suspended share buybacks. The actions reflect Chairman and CEO Jamie Dimon’s increasingly cautious stance. “The U.S. economy continues to grow and both the job market and consumer spending, and their ability to spend, remain healthy,” […]
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General Motors will build a network of EV fast chargers at Pilot travel centers along U.S. highways
General Motors is building out a new network of EV fast chargers in partnership with Pilot Co., owner of the Pilot and Flying J highway travel centers, and EV charging network EVgo. The companies will install a total of 2,000 fast chargers at 500 of Pilot’s locations along American highways at intervals of approximately 50 […]
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Stocks making the biggest moves premarket: JPMorgan, Taiwan Semiconductor, Ericsson and more
Check out the companies making headlines before the bell: JPMorgan Chase (JPM) – JPMorgan Chase was down 2.9% in premarket trading after falling 12 cents shy of estimates with a quarterly profit of $2.76 per share. It also announced it was temporarily suspending share buybacks. CEO Jamie Dimon said inflation, waning consumer confidence and other […]
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Morgan Stanley misses analysts’ profit expectations on worse-than-expected investment banking
James Gorman, chairman and chief executive officer of Morgan Stanley, speaks during a Bloomberg Television interview in Beijing, China, on Thursday, May 30, 2019. Giulia Marchi | Bloomberg | Getty Images Morgan Stanley posted results on Thursday below analysts’ expectations for second quarter profit and revenue on weaker-than-expected investment banking revenue. Here are the numbers: […]
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World’s largest chipmaker TSMC posts record profit allaying fears over semiconductor headwinds
Signage for Taiwan Semiconductor Manufacturing Co. (TSMC) is displayed at the company’s headquarters in Hsinchu, Taiwan, on Wednesday, June 5, 2019. Ashley Pon | Bloomberg via Getty Images TSMC, the world’s biggest chipmaker, posted record net profit in the second quarter, helping assuage fears over weak demand from high inflation and a glut of some […]
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Deutsche Bank upgrades Costco to buy, says club business model will outperform in uncertain economy
Costco makes sense for investors and consumers during a time of economic turmoil, according to Deutsche Bank. Analyst Krisztina Katai upgraded the retail stock to buy from hold, saying in a note to clients that Costco appears poised to outperform its peers. “COST is one of the most consistent operators in our group, and its […]
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Morgan Stanley’s Jonas trims price target for Tesla, citing slowing economy
Morgan Stanley auto analyst Adam Jonas cut his price target for many stocks in his sector, including Tesla . Jonas said in a note to clients that a slowing economy dampens the outlook for autos, leading to estimate cuts and lower price targets. “We make material cuts to our forecasts across our coverage to reflect […]
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Russians ‘destroying everything they see’ as they bombard Donbas; Ukraine exports deal could be close
Russians ‘destroying everything they see in front of them’ as they try to advance, Ukraine official says Russian forces are reportedly attempting to break through to Siversk — a town that lies between the Luhansk and Donetsk regions in eastern Ukraine — in order to open a way to nearby Bakhmut in Donetsk, a Ukrainian […]
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A second wave of Russians are fleeing Putin’s regime
A ‘second wave’ of Russians are now formally relocating to countries spanning Europe, the Middle East and Asia after spending time getting their affairs in order. Natalia Kolesnikova | Afp | Getty Images For months now, Vladimir has been preparing paperwork and getting his affairs in order for a move to France. A visa application […]
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‘Democracy starts at our skin’: Actor Ashley Judd speaks out against the overturning of Roe v. Wade
U.S. actor and humanitarian Ashley Judd has responded to the U.S. Supreme Court’s overturning of Roe v. Wade, telling CNBC that individuals should be free to make their own choices. Ashley, specifically speaking about reproductive choices, said “every individual should be autonomous in their reproductive choices because democracy starts at our skin.” The actor, known for 90s […]
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