Author: WallStreetReview

Ford cuts full-year profit outlook as third-quarter profit dips

WallStreetReview
Ford cuts full-year profit outlook as third-quarter profit dips
DEARBORN, Mich. (Reuters) – Ford Motor Co (F.N) on Wednesday cut its forecast for operating profit for the year after a disappointing third quarter that Chief Executive Jim Hackett blamed on higher warranty costs, bigger discounts and weaker than expected performance in China. FILE PHOTO: The Ford logo is seen at the North American International Auto Show in Detroit, Michigan,... Read More

Huawei exposure roils Xilinx’s revenue forecast

WallStreetReview
Huawei exposure roils Xilinx’s revenue forecast
(Reuters) – Xilinx Inc (XLNX.O) on Wednesday forecast current-quarter and full-year revenue below Wall Street estimates, the second major chipmaker this week to flag the impact of a prolonged U.S.-China trade dispute on its business. FILE PHOTO: A Xilinx sign is seen during the China International Import Expo (CIIE), at the National Exhibition and Convention Center in Shanghai, China November... Read More

Forecast points to deepening Illinois budget deficit

WallStreetReview
Forecast points to deepening Illinois budget deficit
FILE PHOTO: llinois Governor J.B. Pritzker delivers remarks at the North America’s Building Trades Unions (NABTU) 2019 legislative conference in Washington, U.S., April 9, 2019. REUTERS/Jeenah Moon CHICAGO (Reuters) – Illinois’ budget deficit will top $3 billion and its pile of overdue bills will hit a new record high by fiscal 2025 if the state’s “unsustainable” tax structure remains in... Read More

Tesla posts surprise quarterly profit on record deliveries, shares jump

WallStreetReview
Tesla posts surprise quarterly profit on record deliveries, shares jump
(Reuters) – Tesla Inc (TSLA.O) on Wednesday surprised investors by posting a profitable third quarter, boosted by record deliveries, cost cuts and improved production schedules for its new electric vehicle model, causing shares to soar in after-market trading. FILE PHOTO: A 2018 Tesla Model 3 electric vehicle is shown in this photo illustration taken in Cardiff, California, U.S., June 1,... Read More

Johnson & Johnson says proposed opioid settlement to lower reported third-quarter profit by $3 billion

WallStreetReview
Johnson & Johnson says proposed opioid settlement to lower reported third-quarter profit by $3 billion
FILE PHOTO: The U.S. flag is seen over the company logo for Johnson & Johnson to celebrate the 75th anniversary of the company’s listing at the New York Stock Exchange (NYSE) in New York, U.S., September 17, 2019. REUTERS/Brendan McDermid (Reuters) – Johnson & Johnson (JNJ.N) on Wednesday lowered its previously reported profit for the third quarter to $1.8 billion... Read More

Spirit Airlines commits to 100 Airbus jets amid tariff dispute

WallStreetReview
Spirit Airlines commits to 100 Airbus jets amid tariff dispute
(Reuters) – U.S. budget carrier Spirit Airlines (SAVE.N) on Wednesday unveiled a provisional deal to order 100 Airbus A320neo-family jets to be delivered through 2027, becoming the first U.S. airline to pick European planes since Washington imposed tariffs on them. FILE PHOTO: A logo of low cost carrier Spirit Airlines is pictured on an Airbus plane in Colomiers near Toulouse,... Read More

U.S. FAA must restore ‘public confidence’ in plane certification -inspector general

WallStreetReview
U.S. FAA must restore ‘public confidence’ in plane certification -inspector general
WASHINGTON (Reuters) – The Federal Aviation Administration (FAA) must work to restore “public confidence” in aircraft certification efforts after two deadly Boeing 737 MAX crashes, the U.S. Transportation Department’s inspector general said on Wednesday in a public report. FILE PHOTO: An aerial photo shows Boeing 737 MAX aircraft at Boeing facilities at the Grant County International Airport in Moses Lake,... Read More

Google unveils quantum computer breakthrough; critics say wait a qubit

WallStreetReview
Google unveils quantum computer breakthrough; critics say wait a qubit
BERLIN/SAN FRANCISCO (Reuters) – Alphabet Inc’s Google said on Wednesday it had achieved a breakthrough in computing research by using a quantum computer to solve in minutes a complex problem that would take today’s most powerful supercomputer thousands of years to crack. Google researchers expect that quantum computers within a few years will fuel advancements in fields such as artificial... Read More

Global stocks rise despite lackluster results; sterling creeps up as EU delays Brexit decision

WallStreetReview
Global stocks rise despite lackluster results; sterling creeps up as EU delays Brexit decision
NEW YORK (Reuters) – World stock indexes climbed on Wednesday as investors brushed aside some earnings disappointments, while the British pound inched up as European Union leaders delayed a decision on whether to grant Britain a three-month Brexit extension. Shares of U.S. industrial bellwethers Boeing Co (BA.N) and Caterpillar Inc (CAT.N) ended the day up about 1% each despite big... Read More

Wall Street ticks higher, but chip stocks tumble

WallStreetReview
Wall Street ticks higher, but chip stocks tumble
NEW YORK (Reuters) – U.S. stocks edged higher on Wednesday as investors shrugged off lackluster quarterly reports from industrial bellwethers Boeing Co (BA.N) and Caterpillar Inc (CAT.N), though a lower-than-expected revenue outlook from Texas Instruments Inc (TXN.O) sent chipmakers’ shares lower. A trader works on the floor at the New York Stock Exchange (NYSE) in New York, U.S., October 22,... Read More