By Bianca Flowers and Shivansh Tiwary (Reuters) -Caterpillar beat estimates with a double-digit jump in operating profit on Monday to send its shares to a record high buoyed by mining equipment sales and higher prices across its machinery divisions. Shares for the Texas-based company were up 5%. Spending on heavy machinery held steady among commercial…
By Lewis Krauskopf NEW YORK (Reuters) -Robust U.S. economic data is confronting investors with an unexpected question: whether strong growth can keep driving stocks higher even if the Federal Reserve delivers less monetary-policy easing than the market had hoped. Expectations that the Fed would pivot to cutting rates sent stocks soaring at the end of…
(This Feb. 2 story has been corrected to remove the word ‘Chinese’ from paragraph 9) By Abhirup Roy SAN FRANCISCO (Reuters) – Completely driverless vehicles traveled nearly 3.3 million miles in California last year, over five times the previous year’s total, even as concerns rose in the wake of a Cruise robotaxi accident, state data…
By Jarrett Renshaw COLUMBIA, South Carolina (Reuters) – President Joe Biden’s reelection bid won’t be won by million-dollar ad buys or social media sound bites, says U.S. Representative James Clyburn, the man who was key to Biden’s 2020 win. Republican candidate Donald Trump’s supporters have built a “MAGA wall” online of memes and social media…
(Reuters) – Groups backed by Iran have been waging attacks on Israeli and U.S. targets since war erupted between its Palestinian ally Hamas and Israel on Oct. 7, a campaign that prompted U.S. counterstrikes and fuelled fears of a wider escalation. Three U.S. servicemen were killed on Jan. 28 in a drone attack by Iran-backed…
SAO PAULO (Reuters) -German carmaker Volkswagen said on Thursday it will invest an additional 9 billion reais ($1.83 billion) in its Brazilian business over the next five years and launch 16 new models, including hybrid and electric vehicles. The new investments would more than double Volkswagen’s 2022-2028 Brazil investment plan to 16 billion reais and…
By Leroy Leo and Patrick Wingrove (Reuters) -AbbVie on Friday raised its 2027 forecast for sales of its immunology drugs Skyrizi and Rinvoq to $27 billion, up $6 billion from its previous prediction. The Chicago-based drugmaker has been counting on revenues from its newer immunology medicines to help make up for declining sales of blockbuster…
By Samrhitha A, Aishwarya Venugopal and Chuck Mikolajczak (Reuters) -Meta Platforms added $196 billion in stock market value on Friday, marking the biggest one-day gain by any company in Wall Street history after the Facebook parent declared its first dividend and posted robust results. Meta’s stock surged 20.3% for the session, also recording its biggest…
(Reuters) -Amazon.com founder Jeff Bezos will sell up to 50 million shares in the online retail and cloud services firm over the next one year, according to a company filing on Friday. The securities are worth $8.6 billion at the current price of $171.8 share. The sale plan, which is subject to certain conditions, was…
By Ann Saphir and Howard Schneider (Reuters) -Federal Reserve policymakers seeking greater confidence that inflation is on track to their 2% goal may have gotten the opposite on Friday when data showed U.S. job growth surged last month at well above the pre-pandemic pace, and wage growth accelerated. The numbers – 353,000 new jobs added…
