Earnings
UAE strongman Sheikh Mohammed bin Zayed named new president
Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of the Emirate of Abu Dhabi. Victoria Jones – PA Images | PA Images | Getty Images The United Arab Emirates’ de facto leader Sheikh Mohammed bin Zayed al-Nahyan was elected president of the Gulf Arab state by a federal supreme council on Saturday, solidifying his rule […]
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Emirates Airline, stung by soaring fuel prices, posts $1.1 billion dollar loss
Aircraft operated by Emirates, at Dubai International Airport in the United Arab Emirates. Christopher Pike | Bloomberg | Getty Images Dubai’s Emirates Airline narrowed its losses to $1.1 billion in the year to March, even as soaring jet fuel costs threaten to overshadow a recovery in travel demand. The world’s largest long haul carrier said revenue jumped 91% to $16.1 billion dollars, as […]
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Investors could get a reprieve from vicious stock sell-off in week ahead
Investors could get a reprieve in the week ahead from the vicious selling cycle that has gripped the stock market since late March. Stocks bounced off of Thursday’s washout lows and were set to exit the week with reduced losses after Friday’s rally. Buyers on Friday hunted for bargains among small caps, biotechnology names, the […]
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Coach owner Tapestry cuts profit outlook as China lockdowns dent demand
Customers walk past a Coach store at Shanghai New World Daimaru department store on August 12, 2019 in Shanghai, China. VCG | Visual China Group | Getty Images Coach owner Tapestry on Thursday trimmed its profit outlook for the fiscal year 2022 with lockdowns in China poised to dent consumer demand of its high-end purses […]
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Stocks making the biggest moves premarket: Ford, General Motors, Tapestry and more
Take a look at some of the biggest movers in the premarket: Ford (F), General Motors (GM) – Ford fell 2.8% in premarket trading while GM slid 3.4% after Wells Fargo double-downgraded both stocks to “underweight” from “overweight.” Wells Fargo said 2022 could represent a profit peak for legacy automakers, with the shift toward electric […]
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SoftBank Vision Fund posts record $27 billion loss as tech stocks plummet
SoftBank Founder Masayoshi Son said there is “confusion in the world” and in the markets due to a number of factors including Russia’s invasion of Ukraine, high inflation and central bank moves to raise interest rates. These factors have contributed to a record annual loss at SoftBank’s Vision Fund. Kentaro Takahashi | Bloomberg | Getty […]
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Barclays downgrades Beyond Meat, cuts price target by 69% on ‘limited visibility’ on path to recovery
Barclays slashed the price target for shares of Beyond Meat by 69%, noting “limited visibility” on the path to recovery after a “disappointing” earnings report. Analyst Benjamin M. Theurer downgraded shares of Beyond Meat to equal weight from overweight after the plant-based food company on Wednesday reported a wider-than-expected loss in its most recent quarter […]
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Disney did not give us everything this quarter, but parks and streaming really delivered
It wasn’t a perfect quarter, but we’re pleased to see theme park operating income and Disney+ subscriber additions beat expectations. Source
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Beyond Meat shares tumble after jerky launch leads to wider-than-expected loss
Beyond Meat “Beyond Burger” patties made from plant-based substitutes for meat products sit on a shelf for sale in New York City. Angela Weiss | AFP | Getty Images Beyond Meat on Wednesday reported a wider-than-expected loss for its first quarter as the launch of its new plant-based jerky weighed heavily on margins. Shares of […]
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Rivian stock jumps as EV automaker maintains its 2022 production goals
Production of electric Rivian R1T pickup trucks on April 11, 2022 at the company’s plant in Normal, Ill. Michael Wayland / CNBC Electric vehicle maker Rivian Automotive on Wednesday maintained its 2022 production target, saying it still expects to build just 25,000 vehicles this year, as it reported a first-quarter loss that was slightly narrower […]
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