By Siddharth Cavale and Sheila Dang (Reuters) -Walmart said on Friday it is not advertising on social media platform X, one of the latest brands to say it has dropped the Elon Musk-owned site. “We aren’t advertising on X as we’ve found other platforms to better reach our customers,” a Walmart spokesperson said. X, formerly…
By Abhirup Roy, Hyunjoo Jin and Chavi Mehta SAN FRANCISCO (Reuters) -Tesla’s pricier-than-expected Cybertruck pickup, which offers driving ranges that fell well short of what CEO Elon Musk had promised, has deeply disappointed some but fascinated others with its futuristic, SUV-like feel. The Cybertruck, two years behind schedule, enters a hot pickup truck market to…
(Reuters) – Ride-hailing service Uber Technologies will join the S&P 500 effective at the open of trading on Dec. 18, along with S&P MidCap 400 constituents Jabil Inc and Builders FirstSource Inc, S&P Dow Jones Indices announced late Friday. The stocks will replace Sealed Air Corp, Alaska Air Group Inc and SolarEdge Technologies Inc in…
By Suzanne McGee (Reuters) – Exchange-traded funds (ETFs) had a bumper month in the United States in November, with assets climbing to a record $7.65 trillion, State Street Global Advisors said on Friday. ETF investors aggressively bought “risk on” assets in November as “the switch flipped,” said Matthew Bartolini, head of SPDR Americas Research at…
By Valerie Insinna and Mike Stone WASHINGTON (Reuters) – The U.S. Air Force has eliminated Boeing from its competition to develop a successor to the E-4B Nightwatch, Boeing confirmed on Friday, shaking up the battle to build the next version of the aircraft known as the “Doomsday Plane” due to its ability to survive a…
(Reuters) -A SpaceX Falcon 9 rocket carried South Korea’s first spy satellite into orbit on Friday from California’s Vandenberg Space Force Base, after North Korea successfully launched its own military reconnaissance satellite last month. The satellite was placed into orbit and a little over an hour after launch “successfully established communication with an overseas ground…
By Harshita Mary Varghese (Reuters) -Dell Technologies on Thursday reported third-quarter revenue below estimates due to a slower-than-expected recovery in the hardware and software market, sending its shares down 4% after the bell. Vendors in the market have seen a slowdown in demand following the surge in sales of electronic devices during COVID lockdowns on…
By Akash Sriram, Hyunjoo Jin and Abhirup Roy (Reuters) -Tesla’s long-delayed Cybertruck will be priced starting at $60,990, over 50% more than what CEO Elon Musk had touted in 2019 and a cost analysts have said will draw select, affluent buyers. The truck, made of shiny stainless steel and shaped into flat planes, is partly…
By Jonathan Stempel (Reuters) – Pfizer has been sued by Texas Attorney General Ken Paxton, who on Thursday accused the drugmaker of misrepresenting the efficacy of its widely-used COVID-19 vaccine. In a complaint filed in a Lubbock County state court, Paxton said it was misleading for Pfizer to claim its vaccine was 95% effective because…
By Howard Schneider and David Lawder BESSEMER CITY, North Carolina (Reuters) -U.S. Treasury Secretary Janet Yellen traveled to North Carolina on Thursday to tout hundreds of billions of dollars in clean energy investments enabled by federal tax incentives as President Joe Biden struggles to win credit among voters for his economic record. Yellen toured a…