(Reuters) – Hershey Co beat market expectations for quarterly sales on Thursday, boosted by price hikes and steady demand for its Kisses chocolates and Reese’s Peanut Butter Cups. The company’s net revenue rose to $2.99 billion in the first quarter from $2.67 billion a year earlier, while analysts on average expected $2.91 billion, according to…
(Reuters) – Southwest Airlines Co said on Thursday it expects “solid profits” in the current quarter on strong summer bookings, and flagged 20 fewer deliveries of the MAX jets this year from Boeing Co. The largest U.S. domestic airline, which reported a second-quarter loss due to a one-time charge owed to mass cancellations in December,…
By Rowena Edwards LONDON (Reuters) – Oil prices were steady on Thursday after a price drop the previous day reversed the supportive impact of a surprise OPEC production cut announced this month. Brent crude was trading at $77.72 a barrel, up 3 cents, or 0.04%, by 1033 GMT, while U.S. West Texas Intermediate crude rose…
By Paul Sandle LONDON (Reuters) – For all the thunder about Xbox versus PlayStation, it was the nascent cloud market that led to Britain’s surprise decision to block Microsoft’s record Activision Blizzard takeover. Microsoft has been working for months to satisfy concerns about the $69 billion deal raised by Britain’s Competition and Markets Authority (CMA),…
LONDON (Reuters) – The boss of Britain’s antitrust regulator said blocking Microsoft’s acquisition of ‘Call of Duty’ maker Activision Blizzard was the right decision for the UK after both companies said it sent the wrong message to the global tech industry. The Competition and Markets Authority (CMA) blocked the deal on Wednesday, saying it could…
By Joyce Lee and Heekyong Yang SEOUL (Reuters) -Samsung Electronics Co Ltd flagged a gradual recovery for chips in the second half of the year after its semiconductor business reported a record $3.4 billion loss on Thursday, driven by a chip glut from weak demand for tech devices. A global downturn in semiconductor purchases amid…
By Luis Jaime Acosta, Oliver Griffin and Sabrina Valle BOGOTA/HOUSTON (Reuters) – Exxon Mobil Corp is in talks with Colombia’s government in hopes of recovering its investment in a fracking pilot project as the U.S. oil major prepares to ditch upstream operations in the Andean country where the government is pushing through a fracking ban,…
By Andy Sullivan and Valerie Volcovici WASHINGTON (Reuters) – Solar and EV companies are warning that a Republican plan to slash federal spending in exchange for a hike in the U.S. debt ceiling could hobble the tax incentives that unleashed billions of dollars in green investment and created tens of thousands of jobs in Republican…
By Chen Lin and Xinghui Kok SINGAPORE (Reuters) – Vera Liu, a Singapore property agent, was panicking in the wee hours of Thursday morning after new property taxes saw two of her deals fall through. Singapore raised levies on private property purchases in a surprise move late on Wednesday night to cool the market, including…
A look at the day ahead in U.S. and global markets from Mike Dolan The Big Tech earnings season is going some way to justifying the striking outperformance of its mega cap shares this year, with Meta Platforms the latest to impress overnight and Amazon advancing ahead of its readout on Thursday. Perhaps even more…
