Ferrari’s new boss sought to reassure investors that he would execute midterm targets set by his predecessor, Sergio Marchionne, but the stock fell more than 8 percent on Wednesday when he described the goals to 2022 as “aspirational”.
The U.S. Federal Reserve kept interest rates unchanged on Wednesday but characterized the economy as strong, keeping the central bank on track to increase borrowing costs in September.
Chesapeake Energy Corp. CEO Doug Lawler’s frugality with payrolls and drilling budgets apparently extends to the spoken word. Lawler sticks to his bullet points during earnings calls and rarely allows those events to go much beyond the half-hour mark. …read more […]
Wells Fargo will pay $2.09 billion in penalty for alleged misrepresentation of loan quality, the U.S. Department of Justice said on Wednesday.
Major automakers on Wednesday reported lower U.S. new vehicle sales for July amid steep declines in passenger cars, except Fiat Chrysler Automobiles NV (FCA) , which said its sales climbed 6 percent.
The benchmark S&P 500 index dipped on Wednesday, ahead of the Federal Reserve’s decision on interest rates, but Apple’s robust earnings lifted the technology sector and the Nasdaq.
President Donald Trump is invoking one of the nation’s most notorious criminals in venting about the treatment of former campaign chairman Paul Manafort as he begins trial. Trump, in the midst of an angry tweet storm Wednesday about special counsel Robert Mueller’s Russia investigation, asked the public “who was treated worse,” 1920s gangster Al Capone or Manafort. …read more […]
Tesla Inc – the most heavily shorted U.S. company – is set to report quarterly results on Wednesday, and short-sellers could be dealt a nearly $850 million loss or gain, depending on the direction of the post-earnings stock move.
U.S. manufacturing activity slowed in July amid signs that a robust economy and import tariffs were putting pressure on the supply chain, which could hurt production in the long term.
Sanofi and Novartis said on Wednesday they planned to increase stockpiles of medicines in Britain in preparation for potential disruption if the UK crashes out of the European Union without a deal.
Garmin Ltd reported better-than-expected quarterly profit and raised its full-year forecast on Wednesday, boosted by higher demand for its activity-tracking wearable devices. Garmin shares were up 1.5 percent at $63.40 in midday trading. Garmin, which started as a GPS device maker, has gained in recent years due to a surge in demand for smartwatches and other wearable devices that track everything from heart rates and calories to a pet’s movement. …read more […]
Facebook Inc’s WhatsApp messenger service will start charging businesses for sending marketing and customer service messages, it said on Wednesday, as the social network company’s flagship brand faces slowing usage and revenue growth.
World stocks were mixed on Wednesday, with fears of an imminent escalation in the tariff war between the U.S. and China holding back gains, though robust results form technology giant Apple Inc boosted a key index on Wall Street.
U.S. stocks rose on Wednesday as Apple’s robust earnings lifted the high-growth technology sector and eased worries of an escalating trade war between the United States and China.
Shares of Apple Inc touched the $200 mark for the first time and neared a $1 trillion valuation on Wednesday, after the company forecast blowout current-quarter sales and analysts said a September launch of new iPhones set the stage for sustained growth.
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
