Tesla rallies more than 8% as Citi optimistic about quarterly earnings
[ad_1] Tesla Inc. shares jumped more than 8% in midday trading Monday, recouping some of their recent steep losses, and as analysts at Citi said they were optimistic about the…
Swiss National Bank estimates it’ll record $143 billion loss
[ad_1] Fixes the size of the 2021 profit. The Swiss National Bank on Monday estimated it will lose 132 billion francs ($143 billion) for 2022, reportedly the largest in its…
XPeng stock just misses a record selloff, snaps 5-day win streak
[ad_1] The U.S.-listed shares of XPeng Inc. plunged Friday to snap a five-day win streak, as price cuts by Tesla Inc. in China soured sentiment toward China-based electric vehicle makers.…
Verizon shares log best six-day stretch since 2020
[ad_1] The new year is bringing new momentum for Verizon Communications Inc.’s stock. The stock suffered its worst annual decline in 17 years during 2022, though it eked out gains…
AbbVie cuts earnings forecast due to milestone payments
[ad_1] AbbVie Inc. executives lowered their outlook for the quarter and year in a filing with the Securities and Exchange Commission late Friday, which cited research and development expenses and…
As COVID vaccine and Paxlovid sales decline, analysts want to know what’s next for Pfizer
[ad_1] Pfizer PFE, +0.28% is the latest pandemic stock to face questions about its long-term strategy as revenue from its COVID-19 vaccine and antiviral business starts to dry up. Bank…
Southwest sees flight cancellations costing up to $825 million
[ad_1] Southwest Airlines Co. warned Friday that it expects to report a surprise net loss for the fourth quarter, because of the costs associated with all the flights it canceled…
Samsung forecasts big slump in fourth-quarter profit as tech demand wanes
[ad_1] SEOUL — Samsung Electronics Co. 005930, +0.34% said it expects its fourth-quarter profit to plunge as the firm’s mainstay memory-chip and smartphone businesses face a sharp pullback in demand, showing…
Stitch Fix plans more layoffs amid CEO shakeup
[ad_1] Stitch Fix Inc. will conduct additional layoffs and shake up its leadership as the personal-styling company comes off a dismal year for its stock. Founder Katrina Lake said in…
Bed Bath stock plunges after warning that it may need to declare bankruptcy
[ad_1] Bed Bath & Beyond Inc. said Thursday that it has “substantial doubt” about its “ability to continue as a going concern,” as the company also disclosed that it expects…
Silvergate lost more than $700 million selling assets to cover withdrawals during crypto selloff
[ad_1] The collapse of crypto exchange FTX sparked a run on Sivergate Capital Corp., forcing the bank to sell assets at a steep loss to cover some $8.1 billion in…
Credit Acceptance shares tumble 12% after regulators sue, claim illegal subprime auto lending practices
[ad_1] Shares of subprime auto giant Credit Acceptance Corp CACC, -11.61% tumbled about 12% on Wednesday after New York Attorney General Letitia James and a key U.S. consumer watchdog sued…
Chinese EV stocks rise after strong December deliveries
[ad_1] Shares of Chinese electric-vehicle makers rose Tuesday in Hong Kong, led by Li Auto Inc., after strong December delivery data. Li Auto’s shares 2015, +10.29% rose after it posted…
This offshore energy services company was Europe’s best-performing stock of the year. Credit Suisse was among the worst.
[ad_1] The best stock in Europe’s leading index of companies was a Norwegian offshore energy services provider, Subsea 7. Heading into the final trading of the year, shares of Stoxx…
Li Auto stock jumps after announcing record EV deliveries in December
[ad_1] Li Auto Inc. said Friday that it delivered more than 20,000 electric vehicles in December, which is more than 33% above the previous monthly record delivered last month. The…
Apple shares look to snap four-day losing streak after report of improved iPhone Pro production
[ad_1] Shares of Apple Inc. moved higher on Thursday after four straight days of declines, after a report indicated that iPhone production capacity in China was improving — even as…
Goldman sharpens knife on headcount, bonuses along with other big banks
[ad_1] Goldman Sachs Group Inc. will cut bonuses by about 40% in the deepest belt-tightening move among the big U.S. banks, The Wall Street Journal reported Thursday. Goldman Sach’s GS,…
Chinese auto makers plunge as COVID surge prompts delivery cuts
[ad_1] Shares of Chinese auto makers plunged as growing COVID-19 outbreaks across China halted vehicle production, triggering delivery cuts and sparking worries of a sales decline in the world’s biggest…
Lyft stock closes lower than $10 for the first time; three-quarters of its valuation has been wiped away this year
[ad_1] Shares of Lyft Inc. closed lower than $10 for the first time Tuesday as the ride-hailing company’s shares head for their worst year yet. Lyft LYFT, -3.33% stock fell…
Nio stock drops after EV maker cut delivery guidance
[ad_1] Shares of Nio Inc. took a dive Tuesday, after the China-based electric vehicle maker said it was “prudently” cutting its fourth-quarter deliveries estimate, citing COVID-related production challenges and continued…
Chinese drug makers’ shares plunge as Pfizer’s Paxlovid gains market share
[ad_1] Shares of Chinese pharmaceutical companies plunged Tuesday morning on Chinese bourses, continuing a slide that began in the face of competition from Pfizer’s COVID-19 drug Paxlovid earlier this month.…
Tesla stock suffers longest losing streak since March 2020 after Wedbush slashes price target by 30%
[ad_1] Shares of Tesla Inc. suffered their longest losing streak since the start of the COVID pandemic, after Wedbush analyst Dan Ives slashed his price target by 30%, citing “demand…
U.S. new home sales rose in November by 5.8%
[ad_1] The numbers: U.S. new home sales rose 5.8% to a seasonally-adjusted rate of 640,000 in November, from a revised 605,000 in the prior month, the Commerce Department reported Friday.…
Amazon stock breaks below 2020 low for the first time, heads for worst year since dot-com bust
[ad_1] Amazon.com Inc. shares closed lower than their March 2020 nadir for the first time Thursday, as the tech giant’s stock heads for its worst year since the dot-com bust.…
Avocado prices are plunging, and taking Mission Produce stock along for the ride
[ad_1] Mission Produce Inc. shares plunged in after-hours trading Thursday following an earnings report that showed the effects of rapidly declining avocado prices. Mission Produce AVO, -3.37% reported a fiscal…