Business & Finance News
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.
U.S. stock index futures struggled for direction on Thursday as a clutch of earnings reports again pointed to a slowing global economy, while holding up in the face of already reduced expectations.
Southwest Airlines Co squeezed out a small profit in the second quarter as strong bookings helped soften the financial blow of the Boeing 737 MAX grounding, which the carrier said forced it to cease operations at Newark Liberty International.
U.S. weapons maker Raytheon Co on Thursday reported a better-than-expected second-quarter profit and raised its full-year profit and sales outlook, helped by higher sales of missiles and guns for naval ships.
(Corrects reference to J.C. Penney headquarters in second paragraph in this July 24th story)
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