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

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

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

Tesla posts surprise quarterly profit on record deliveries, shares jump

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

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

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

Wall Street ticks higher, but chip stocks tumble

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

Vinik to shut down hedge fund, says raising cash ‘much harder’ than expected

Vinik to shut down hedge fund, says raising cash ‘much harder’ than expected
BOSTON (Reuters) – Money manager Jeffrey Vinik said on Wednesday he was shutting down his stock-picking hedge fund, citing unexpected difficulties raising cash for the decision to end a much-hyped but short-lived relaunch of his asset management firm. “Simply put, it has been much harder to raise money over the last several months than I anticipated,” Vinik wrote in a... Read More

Wall Street gains as investors shrug off downbeat earnings

Wall Street gains as investors shrug off downbeat earnings
A trader works on the floor at the New York Stock Exchange (NYSE) in New York, U.S., October 22, 2019. REUTERS/Brendan McDermid NEW YORK (Reuters) – U.S. stocks edged higher on Wednesday as investors looked past 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... Read More

Teva’s proposed opioid settlement could cost drugmaker pennies on the dollar

Teva’s proposed opioid settlement could cost drugmaker pennies on the dollar
NEW YORK/BOSTON (Reuters) – Teva Pharmaceutical Industries Ltd’s proposed $23 billion drug giveaway to settle thousands of U.S. opioid lawsuits will likely cost the company a fraction of that figure due to how it has valued those medicines, according to a Reuters review of pricing data and industry analysts. FILE PHOTO: The logo of Teva Pharmaceutical Industries is seen during... Read More

Brazil narrows field to China, Russia, France for Angra 3 nuclear partner

Brazil narrows field to China, Russia, France for Angra 3 nuclear partner
BRASILIA (Reuters) – Brazil’s state nuclear power company Eletronuclear plans to complete its long-delayed Angra 3 plant by partnering with either China’s National Nuclear Corporation (CNNC), France’s EDF (EDF.PA) or Russia’s Rosatom, its president Leonam Guimaraes told Reuters. FILE PHOTO: President of Eletronuclear Leonam Guimaraes poses for a photo near of Angra Nuclear Power Plant complex during a media tour... Read More