By Aishwarya Nair (Reuters) – Harley-Davidson Inc said on Thursday it will suspend vehicle assembly and shipments for a two-week period, excluding those from its electric-vehicle division LiveWire, due to a parts issue related to a supplier. The iconic motorbike maker said the decision was made after a third-party supplier, which was not named, informed…
(Reuters) -Cisco Systems Inc shares on Thursday touched an 18-month low after the company warned of persisting shortages in components, worrying Wall Street on how exports could suffer due to China’s COVID restrictions and the Ukraine crisis. Shares of the company, which lowered its full-year growth forecast, were down about 13% at $42.4 and dragged…
By Mehr Bedi and Deborah Mary Sophia (Reuters) -Canada Goose Holdings Inc on Thursday forecast annual sales and profit above Wall Street expectations on hopes for a recovery in key China market and as demand for its luxury parkas and jackets stays strong. Sales of luxury goods have remained robust in North America with shoppers…
By Praveen Paramasivam (Reuters) -McDonald’s Corp is selling its Russia business to its current licensee Alexander Govor and the restaurants would operate under a new brand, ending more than three decades of presence in the country following its invasion of Ukraine. The world’s largest burger chain owns about 84% of its nearly 850 restaurants in…
(Reuters) – Cisco Systems Inc shares were down 10% premarket on Thursday after the company warned of persisting shortages in components, triggering price target cuts from at least nine brokerages as Wall Street braces for further impact on technology exports due to China’s COVID restrictions. Cisco missed quarterly sales estimates and lowered its full-year growth…
By Nivedita Balu (Reuters) -Grab Holdings Ltd, Southeast Asia’s No. 1 ride-hailing and food delivery firm, on Thursday forecast a rebound in its rideshare and food delivery businesses as economies recover from a pandemic-led slump. The company’s rideshare business has suffered due to pandemic-led restrictions in several markets, but the demand is now growing with…
(Reuters) – McDonald’s Corp said on Thursday it has agreed to sell its Russian business to current licensee Alexander Govor, days after announcing it would exit the country. Govor will acquire McDonald’s entire restaurant portfolio and operate them under a new brand, McDonald’s said. (Reporting by Praveen Paramasivam in Bengaluru; Editing by Arun Koyyur)
(Reuters) -Canada Goose Holdings Inc forecast annual earnings and revenue above Wall Street expectations after reporting a surprise quarterly profit on Thursday, encouraged by strong demand for its luxury parkas and jackets. U.S.-listed shares of the Toronto, Ontario-based company rose 10% before the bell, a day after a broad market sell-off triggered by poor results…
(Reuters) – Kohl’s Corp cut its full-year earnings forecast on Thursday, joining some of America’s biggest retailers in warning that a four-decades high inflation is starting to take a toll on profit margins and consumer spending power. Kohl’s shares have fallen about 11% this week as profit warnings from Walmart Inc and Target Corp added…
By David Shepardson WASHINGTON (Reuters) -Ford Motor Company said Thursday https://media.ford.com/content/fordmedia/fna/us/en/news/2022/05/19/ford-motor-company-recalls-expedition-navigator.html it was recalling 39,000 SUVs after reports of 16 fires, and has advised owners to park their vehicles outdoors and away from structures until a fix is completed. The recall, which covers some 2021 model year Ford Expedition and Lincoln Navigator vehicles, was prompted…
