(Corrects analyst’s name in paragraph 8) (Reuters) – Shares of Roku Inc fell more than 20% in extended trading on Wednesday after the streaming platform forecast holiday-quarter revenue below Wall Street estimates as ad spending dries up. Record-high inflation and global geopolitical uncertainty from the war in Ukraine and U.S.-China tensions have led companies to…
NEW YORK (AP) — When it comes to meeting Wall Street’s expectations for profit and sales, it’s put-up-or-get-beat-up time for CEOs. It hasn’t happened very often, but when companies have turned in both weaker profits and sales this reporting season than analysts expected, investors have walloped them with record-sized punishments for their stock prices. Google’s…
By Chibuike Oguh NEW YORK (Reuters) -Global equities fell while U.S. Treasury yields rose on Thursday as investors weighed hawkish commentary from Federal Reserve Chairman Jerome Powell on the prospects of further interest rate hikes targeted at reining in inflation. Market sentiments have been bearish after the Fed on Wednesday raised rates by 75 basis…
FRANKFURT, Germany (AP) — Europe could face a severe natural gas shortage next year and needs to act now to reduce use, the International Energy Agency said in a report Thursday, warning against complacency in an energy crisis triggered by Russia’s war in Ukraine after countries were able to build up storage of the fuel…
(Reuters) – U.S. authorities are investigating whether executives have been gaming prearranged stock-sale programs designed to thwart the possibility of insider trading, Bloomberg News reported on Thursday citing people familiar with the matter. The U.S. Securities and Exchange Commission and the Justice Department are concerned some people may be manipulating stock-sale programs, which are intended…
NAIROBI, Kenya (AP) — The fire burning on Mount Kilimanjaro for almost two weeks has been largely contained after hundreds of military personnel were deployed to help, Tanzania’s prime minister said Thursday. The blaze destroyed 33 square kilometers (nearly 13 square miles) on Africa’s tallest and most famous mountain, Prime Minister Kassim Majaliwa said. The…
WASHINGTON (AP) — The average long-term U.S. mortgage rate dipped back under 7% this week, one day after the Federal Reserve raised its benchmark borrowing rate to its highest level in 15 years as it tries to squelch four-decade high inflation. Mortgage buyer Freddie Mac reported Thursday that the average on the key 30-year rate…
DETROIT (AP) — Stellantis and the U.S. government on Thursday warned owners of 276,000 older vehicles to stop driving them after Takata air bags apparently exploded in three more vehicles, killing the drivers. The company formerly known as Fiat Chrysler is telling people to stop driving Dodge Magnum wagons, Dodge Challenger and Charger muscle cars…
By Marie Mannes (Reuters) -Electric vehicle maker Polestar said on Thursday it had secured $1.6 billion in financing from its two main shareholders to help it deliver its growth plans amid volatile markets. Volvo Car, which co-founded the brand with China’s Geely in 2017, said it would provide an $800 million loan to the firm….
Supply problems have again forced Moderna to delay some COVID-19 vaccine deliveries, a move that surprised Wall Street and contributed to a disappointing third quarter. The vaccine developer said Thursday that short-term issues prompted it to shift some deliveries initially planned for this year into 2023. It now expects 2022 revenue from advance purchase agreements…
