General Motors Co on Tuesday slashed its earnings forecast for 2019, saying that a 40-day U.S. labor strike by the United Auto Workers union that brought virtually all of its North American operations to a standstill would cost it around $3 billion in profits this year.
Wall Street was set to open lower on Tuesday as investors assessed a mixed batch of earnings reports, including from Google parent Alphabet and big drugmakers Merck and Pfizer.
Shares of GrubHub slumped 34% in early trading, after it forecasted slowing revenue growth for the fourth quarter, pushing at least two brokerages to downgrade the stock and cut their price targets. GrubHub, one of the early pioneers in the industry, has been battling growing competition from startups such as DoorDash and Uber Technologies’ Uber Eats. The Chicago-based company has also tried to increase its market share by partnering with various companies, including a recent deal with Dunkin’ Brands Group Inc . …read more […]
Kellogg Co reported quarterly sales and profit above market expectations on Tuesday, benefiting from higher demand for its Pringles and Cheez-It snacks, as well as frozen foods.
Saudi Aramco has signed several deals at the Future Investment Initiative conference in Riyadh, Saudi Arabian General Investment Authority (SAGIA) said in a statement on Tuesday.
Bandwidth Inc. (NASDAQ:BAND) shareholders might be concerned after seeing the share price drop 23% in the last… …read more […]
General Motors Co on Tuesday posted a better-than-expected quarterly net profit thanks to robust U.S. sales of high-margin pickup trucks and SUVs, but slashed its full-year earnings forecast citing the impact of a 40-day U.S. labor strike.
Saudi Aramco aims to announce the start of its initial public offering (IPO) on Nov. 3, three people with direct knowledge of the matter told Reuters, after delaying the deal earlier this month to give advisers time to secure cornerstone investors.
Mastercard Inc reported an 11% rise in third-quarter profit on Tuesday as more transactions were made on its network, boosting fees for the world’s second-largest payment processor.
Q3 2019 Apollo Commercial Real Estate Finance Inc Earnings Call …read more […]
U.S. stock index futures edged lower on Tuesday as investors assessed a mixed batch of earnings reports, including from Google parent Alphabet and big drugmakers Merck and Pfizer.
Boeing Co Chief Executive Dennis Muilenburg will begin the first of two days of testimony Tuesday before U.S. lawmakers and will face tough questions on the crashes of two 737 MAX planes, which killed 346 people and sparked calls for reforms.
Canada’s Shopify Inc posted a bigger quarterly net loss on Tuesday as it spent more to add sellers to its e-commerce platform and expand fulfillment centres across the United States, sending shares down 8.6% before the bell. The company had said in June it planned to spend over $1 billion for more fulfillment centres, as it faces stiff competition from Amazon.com Inc and EBay Inc. The company’s net loss tripled to $72.8 million, or 64 cents per share, in the quarter ended Sept. 30, from a year earlier. …read more […]
U.S. oil and gas company ConocoPhillips’ quarterly profit shot ahead of analysts’ estimates on Tuesday, as higher shale production offset the impact from lower crude prices and higher exploration costs.
U.S. oil and gas company ConocoPhillips’ quarterly profit shot ahead of analysts’ estimates on Tuesday, as higher shale production offset the impact from lower crude prices and higher exploration costs. Total production, excluding Libya, rose 98,000 barrels of oil equivalent per day (boe/d) to 1.322 million boe/d, with output from U.S. basins including Eagle Ford, Bakken and the Permian rising 21% in the quarter. ConocoPhillips said the total realized price per barrel of oil equivalent fell 18% to $47.07 in the quarter. …read more […]
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