July 2024 - Page 3 of 13

Stellantis reports significant drop in first-half earnings due to weak U.S. sales

26

Jul

Stellantis reports significant drop in first-half earnings due to weak U.S. sales

More news - Latest news Stellantis, the multinational automaker behind brands including Jeep, Dodge and Chrysler, announced a 48% drop in net profit for the first half of 2024, mainly due to declining sales and production issues in the U.S. market. The company reported net income of €5.6 billion ($6.07 billion) in the first six months, down significantly from the same period in 2023. Adjusted operating income fell to €8.5 billion, down €5.7 billion, largely attributed to challenges in North America. Following the announcement, Stellantis shares in Milan fell 8.5%. CEO Carlos Tavares acknowledged the underperformance, citing a challenging industry…

Corey LaJoie to Leave Spire Motorsports After 2024 Season

26

Jul

By William Lee

Sports

Corey LaJoie to Leave Spire Motorsports After 2024 Season

Related media - Breaking news Corey LaJoie, currently 28th in the NASCAR Cup Series standings, will not return as the driver of the No. 7 Spire Motorsports car at the end of the 2024 season. LaJoie, who has a contract with Spire Motorsports through next year but is now free to explore other opportunities, confirmed the news to FOX Sports, following an initial report from The Athletic. “I will not be driving the No. 7 next year,” LaJoie said. “I am very proud of the role I have played in helping Spire become a competitive team, but unfortunately, my future…

After Hours Market Movers: Dexcom, Coursera, Deckers Outdoor and More

26

Jul

By William Lee

Business

After Hours Market Movers: Dexcom, Coursera, Deckers Outdoor and More

More news - Recent news Here are some stocks that saw significant moves in after-hours trading: Dexcom Dexcom shares jumped after their quarterly earnings report beat Wall Street expectations. The company, known for its continuous glucose monitoring systems, reported stronger-than-expected revenue growth, fueling investor optimism and sending the stock up 7%. Lane Online learning platform Coursera saw its shares rise 5% after reporting better-than-expected revenue and user growth. The company cited increased enrollment and partnerships with educational institutions as key factors contributing to its positive performance. Deckers outdoors Deckers Outdoor, the parent company of popular brands like UGG and Teva,…

Ford Reports Significant Revenue Drop Due to Warranty Issues

25

Jul

By William Lee

Ford Reports Significant Revenue Drop Due to Warranty Issues

More news - News 24 hours DETROIT — Ford Motor Company fell significantly short of Wall Street expectations for second-quarter earnings, despite beating revenue forecasts, as long-running warranty issues plague the automaker. Here's how the company performed against analyst estimates reviewed by LSEG: Earnings per share: 47 cents adjusted vs. 68 cents adjusted expected Automotive revenue: $44.81 billion vs. $44.02 billion forecast Ford shares are up about 15% this year as prices in the auto sector have remained more resilient than expected. However, as the industry-wide shift to electric vehicles proceeds more slowly than expected, the automaker has adjusted its…

Why a Historically Reliable Recession Indicator May No Longer Be Accurate

25

Jul

By William Lee

Business

Why a Historically Reliable Recession Indicator May No Longer Be Accurate

Related media - Breaking news Wall Street’s most reliable recession indicator started signaling trouble in 2022 and hasn’t stopped since, but so far it has proven wrong every time. The yield on 10-year Treasuries has been lower than that of many shorter-term bonds, a scenario known as an inverted yield curve, which has historically preceded nearly every recession since the 1950s. Traditionally, an inverted yield curve suggests a recession within a year or two. However, not only has a recession not occurred, but U.S. economic growth remains stable. This has led many on Wall Street to wonder why this once-reliable…

Alphabet Hits Revenue Goals But Fails to Match YouTube Ad Revenue

24

Jul

By William Lee

Alphabet Hits Revenue Goals But Fails to Match YouTube Ad Revenue

Related media - Breaking news Google parent company Alphabet reported its second-quarter results after the market closed on Tuesday, meeting analysts’ expectations for revenue and profit but falling short on YouTube advertising revenue. Following the announcement, Alphabet shares rose about 1% in after-hours trading. Here's how the company performed against analyst estimates reviewed by LSEG: Earnings: $1.89 per share vs. $1.84 per share expectedRevenue: $84.74 billion vs. $84.19 billion expectedAdditional key figures tracked by Wall Street: YouTube Ad Revenue: $8.66 Billion vs. $8.93 Billion, According to StreetAccountGoogle Cloud Revenue: $10.35 Billion vs. $10.20 Billion, StreetAccountTraffic Acquisition Cost (TAC): $13.39 billion…