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RBA says inflation implications of US election on Australia hard to judge

7 Nov 2024

SYDNEY (Reuters) – Australia’s top central banker said on Thursday it was hard to judge the inflation implications of the U.S. election for Australia at this stage, but policymakers would be watching closely and responding as necessary. Appearing before lawmakers, Reserve Bank of Australia Governor Michele Bullock said the central bank had not yet changed …

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Take-Two beats quarterly results estimates on healthy gamer spending

7 Nov 2024

By Zaheer Kachwala (Reuters) -Take-Two Interactive Software beat Wall Street expectations for second-quarter bookings and profit on Wednesday, boosted by the strong performance of the “Grand Theft Auto” and “Borderlands” franchises, sending its shares up more than 5% in extended trading. Bookings for the second quarter came in at $1.47 billion, beating estimates of $1.43 …

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Corteva reports larger-than-expected loss, cuts full-year sales outlook

7 Nov 2024

(Reuters) -U.S. agrichemicals firm Corteva reported a larger-than-expected loss on Wednesday, hurt by lower sales and prices, leading the company to cut its full-year sales outlook and sending its shares down over 10% after market close. A decline in agricultural commodity prices has forced many farmers to rein in their spending on crop chemicals, hurting …

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Albemarle loses more than $1 billion on falling lithium prices

7 Nov 2024

By Ernest Scheyder (Reuters) -Albemarle, the world’s largest lithium producer, said on Thursday it lost more than $1 billion in the third quarter and that it would slash its capital budget amid a 71% drop in prices for the electric vehicle battery metal. The results underscore the supply glut engulfing the entire lithium industry amid …

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Chipmaker Wolfspeed projects revenue below estimates on weak auto demand, shares sink

7 Nov 2024

(Reuters) – Wolfspeed forecast quarterly revenue below estimates on Wednesday and said it would book $174 million in restructuring charges for the planned closure of a facility, as the chipmaker deals with sluggish demand from automotive customers. Shares of the company, which counts General Motors and Mercedes-Benz among its customers, fell 15% in extended trading. …

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AMC Entertainment posts revenue decline due to fewer big releases

7 Nov 2024

(Reuters) – AMC Entertainment on Wednesday reported a fall in third-quarter revenue and saw a decline in attendance at its theater chain, hurt by fewer blockbuster releases from Hollywood studios. Shares of the Leawood, Kansas-based company fell over 5% in extended trading. Strikes by actors and writers last year forced filming and post-production work to …

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Marathon Oil beats Q3 profit estimates on higher production

7 Nov 2024

(Reuters) – U.S. shale producer Marathon Oil beat Wall Street estimates for third-quarter profit on Wednesday, helped by higher production and resilient demand for oil.  Benchmark Brent crude averaged $78.3 a barrel in the reported quarter, a level at which producers can drill profitably. Meanwhile, natural gas prices increased toward the end of the third …

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Elf Beauty lifts annual forecasts on resilient cosmetics demand, shares up

7 Nov 2024

By Anuja Bharat Mistry (Reuters) -Elf Beauty raised its forecasts for annual sales and profit on Wednesday, betting on its efforts to sell cosmetics such as lip oil and liquid blush at affordable price points in the U.S. and abroad, sending the company’s shares up 9% in extended trading. Customers, who have been hunting for …

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