Shares of Apple Inc are inching closer to a $1 trillion valuation, after the company forecast blowout current-quarter sales and analysts on Wednesday said a September launch of new iPhones set the stage for sustained growth.
Sprint Corp on Wednesday topped analysts’ estimates for quarterly profit, helped by surprise growth in wireless subscribers in a tightly contested phone market.
Volkswagen warned that a shortage of engineers is hampering efforts to get its cars to meet new anti-pollution rules, clouding its sales outlook and overshadowing a forecast-beating 23 percent rise in underlying operating profit.
Volkswagen Group’s Chief Executive Herbert Diess warned that new anti-pollution tests pose a risk to the carmaker’s profit targets.
S&P futures were little changed on Wednesday as Apple’s stellar results helped stem concerns over the future growth of the tech sector, but fears of an escalating tariff war between the United States and China capped gains.
World stocks fell and the dollar strengthened on Wednesday due to fears of an imminent escalation in the U.S.-China tariff war, although strong corporate earnings eased investor concerns about a recent sell-off in the tech sector.
U.S. wireless carrier Sprint Corp on Wednesday reported a 16 percent fall in first-quarter profit, as it ramped up spending to attract more subscribers.
With Wells Fargo & Co’s revenue slumping and no clear end in sight for sales scandal-related costs, analysts have pushed back predictions for when the bank’s closely watched efficiency ratio will return to pre-scandal levels.
Ferrari reported a 7 percent rise in second-quarter adjusted core earnings and confirmed its outlook for the year as a new boss takes charge at the Italian supercar maker following the death of Sergio Marchionne.
Factory growth stuttered across the world in July, heightening concerns about the global economic outlook as an intensifying trade conflict between the United States and China sent shudders through trading partners.
Alphabet Inc’s Google is planning a censored version of its search engine for China that will block websites and certain search terms, The Intercept reported on Wednesday citing internal Google documents and people familiar with the plans.
Billionaire hedge fund manager David Einhorn told investors on Tuesday that a sharp rally in Tesla Inc shares, which he bet against, turned into heavy second-quarter losses at his Greenlight Capital fund, and stuck by his dim outlook for the electric carmaker.
Italian supercar maker Ferrari reported a 7 percent rise in second-quarter adjusted core earnings, helped by sales of the 812 Superfast model and the 488 family, and confirmed its outlook for the full year.
Volkswagen is eyeing producing its own solid state battery cells, with possible serial production from 2024 or 2025, its chief executive said on Wednesday.
Iranian lawmakers have given President Hassan Rouhani one month to appear before parliament to answer questions on his government’s handling of Iran’s economic struggles, state media reported on Wednesday.
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