Wall Street opened slightly lower on Thursday after a clutch of earnings reports pointed to a slowing global economy, while the European Central Bank opening the door to future interest rate cuts limited losses.
Power producer PG&E Corp said on Thursday its initial contribution to California’s wildfire fund would be about $4.8 billion, and annual contribution about $193 million.
New orders for key U.S.-made capital goods surged in June, but the jump will probably not change expectations that business investment contracted further in the second quarter and contributed to holding back the economy.
Shares of Tesla Inc sank 11 percent on Thursday, on course to knock more than $5 billion off the electric carmaker’s market value, a day after it disappointed Wall Street by softening its language on turning a profit this year.
The Dow and the S&P were on course to open higher on Thursday as the European Central Bank opened the door for future interest rate cuts in the euro zone, while a clutch of mixed earnings reports kept a lid on gains.
Power producer PG&E Corp on Thursday said https://bit.ly/32Nn2Qg its initial contribution to California Wildfire Fund would be about $4.8 billion, and annual contribution about $193 million.
Dow Inc forecast current-quarter revenue below analyst expectations on Thursday and said it would cut 2019 spending as chemical companies grappled with the prolonged U.S-China trade dispute and an oversupply of chemicals used to make plastics.
Shares of Tesla Inc fell 11 percent on Thursday and were set to knock off more than $5 billion in the electric carmaker’s market value, a day after it disappointed Wall Street by pushing its profit timeline once again.
American Airlines Group Inc said on Thursday it expected the Boeing 737 MAX grounding to hit its 2019 pretax earnings by about $400 million, sending shares down about 1%, even as a strong passenger demand lifted quarterly revenues.
Ford Motor Co, BMW AG, Volkswagen AG and Honda Motor Co said on Thursday they have reached a voluntary agreement with the state of California to adopt compromise vehicle emissions rules.
American Airlines Group Inc on Thursday raised its full-year estimate for costs related to cancellations from Boeing MAX grounding to $400 million, sending its shares down 3.6%.
Chocolate maker Hershey Co cut its full-year sales forecast on Thursday, overshadowing a better-than-expected quarterly profit and sending its shares down 3%.
Ford Motor Co on Wednesday reported a lower-than-expected profit, weighed down by charges to restructure its units in Europe and South America, and the automaker gave a full-year earnings forecast that fell short of analysts’ expectations.
Southwest Airlines Co eked out a small profit in the second quarter on Thursday as strong bookings offset the financial blow of the grounding of Boeing 737 MAX jets, which forced the carrier to cease operations at Newark Liberty International airport.
Nissan Motor Co unveiled its biggest restructuring plan in a decade, axing nearly a tenth of its workforce and flagging possible plant closures to rein in costs that ballooned when Carlos Ghosn was CEO.
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