Business & Finance News
The benchmark S&P 500 index hovered near record levels on Wednesday as semiconductor stocks rallied on reassuring comments from Texas Instruments on global chip demand and blunted the impact of weak earnings from bellwethers Boeing and Caterpillar.
Caterpillar Inc’s earnings on Wednesday missed Wall Street’s estimates, hurt by a combination of weak sales in China and higher production and restructuring costs, sending its shares lower.
U.S. indexes were off their session lows on Wednesday as a rally in semiconductor stocks on reassuring comments from Texas Instruments on global chip demand blunted the impact of weak earnings from bellwethers Boeing and Caterpillar.
EBay Inc said on Wednesday it would launch warehousing and shipping service for merchants selling through its platform starting next year, a new strategy that is expected to attract more sellers to the e-commerce platform.
Hilton Worldwide Holdings Inc cut its full-year outlook for a key revenue measure on Wednesday, citing a slowing global economy which was weighing on spending plans of businesses, sending the U.S. hotel operator’s shares down as much as 2.8%.
United Parcel Service Inc said on Wednesday a jump in demand for its Next Day Air service drove better-than-expected profit in the second quarter as large retailers rushed packages to online shoppers.
Oil prices rose 1% on Wednesday, supported by a sharp fall in U.S. crude stocks and tensions over Iran, but concern about global oil demand capped further gains.
Boeing Co posted its largest-ever quarterly loss on Wednesday, diving nearly $3 billion into the red as it wrestles with a longer-than-expected grounding of its best-selling 737 MAX.
U.S. stocks fell on Wednesday after bleak earnings from industrial bellwethers Caterpillar and Boeing exacerbated concerns of a slowing global economy that have roiled financial markets this year.
GlaxoSmithKline beat second quarter profit expectations with the help of strong demand for its shingles vaccine, prompting the British drugmaker to forecast a smaller fall in profit this year than originally anticipated.
United Parcel Service Inc on Wednesday said demand for its Next Day Air and Ground services drove better-than-expected quarterly profit as large retailers rushed packages to online shoppers.
U.S. stocks opened lower on Wednesday after bleak earnings from bellwethers Caterpillar and Boeing exacerbated concerns over slowing global growth.
General Motors Co’s self-driving unit, Cruise, said on Wednesday it was delaying the commercial deployment of cars past its target of 2019 as more testing of the vehicles was required.
Boeing Co reported a nearly $3 billion quarterly loss on Wednesday, its largest in a decade, as the world’s largest planemaker struggles with the prolonged grounding of its best-selling 737 MAX jet, sending its shares down slightly in premarket trading.
Facebook Inc will pay a record-breaking $5 billion fine to resolve a government probe into its privacy practices and the social media giant will restructure its approach to privacy, the U.S. Federal Trade Commission said on Wednesday.
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