(Reuters) – Asset management giant BlackRock on Tuesday launched two new exchange-traded funds (ETFs) aimed at giving investors exposure to the booming market for artificial intelligence. Generative AI, designed to create human-like interactions by processing vast amounts of data, has taken the world by storm and is expected to be integrated into virtually all industries …
By Ross Kerber (Reuters) – New York City Comptroller Brad Lander on Tuesday outlined plans to end certain pension funds’ future private market investments in fossil fuel infrastructure over climate concerns. If approved by fund trustees the plan would expand on prior limitations on exploration and extraction investments by barring future investments in things like …
NYC comptroller Lander to end private market fossil fuel investments Read More »
ZURICH (Reuters) – Logitech International expects consumer confidence to remain robust as the computer keyboard and mouse-maker heads into its pre-Christmas quarter, Chief Executive Hanneke Faber said on Tuesday. “We are ready for the holidays, and we think the global consumer will show resilience,” Faber told Reuters after Logitech posted its latest results. “Markets should …
Logitech CEO says global consumer confidence holding up Read More »
By Pratyush Thakur and Mike Stone (Reuters) -Defense contractor Lockheed Martin lifted its annual profit and sales forecasts on Tuesday, but shares slid 5% because the company’s F-35 fighter jet program faced payment headwinds stemming from the government contracting process. The Bethesda, Maryland-based company now expects per-share profit of $26.65 for 2024, above its earlier …
By Jack Queen (Reuters) – Elon Musk’s $1 million giveaway for voters who sign his free-speech and gun-rights petition falls into a gray area of election law, and legal experts are divided about whether the billionaire supporter of Donald Trump could be running afoul of prohibitions on paying people to register to vote. The Tesla …
Elon Musk’s $1 million election giveaway tests limits of election law Read More »
By Harshita Mary Varghese (Reuters) -Verizon projected 2025 capital spending above market estimates on Tuesday as the U.S. telecom giant builds out its high-speed internet business to offset rising saturation in the wireless market, sending its shares down more than 4%. The company also missed third-quarter revenue estimates as high interest rates forced customers to …
Verizon expects capex to rise next year on network expansion efforts Read More »
By Aatrayee Chatterjee (Reuters) -Kleenex tissue maker Kimberly-Clark on Tuesday cut its annual organic net sales forecast after missing Wall Street estimates for third-quarter sales, as consumers swap its pricier personal care goods for cheaper alternatives. Shares of the company, which maintained its annual profit forecast, were down about 4% in early trading. Although U.S. …
Kimberly-Clark trims sales forecast as consumers shift to cheaper options Read More »
(Reuters) – Peloton plans to sell its high-end exercise bikes at some of Costco’s U.S. stores and on the retailer’s website between Nov. 1 and Feb. 15, the companies said on Tuesday. Peloton’s Bike+ will be available for $1,999 at 300 of the retailer’s stores, and for $2,199 on Costco.com, compared with the usual price …
Peloton to sell high-end exercise bikes at certain Costco stores Read More »
(Reuters) – U.S. railroad operator Norfolk Southern reported third-quarter profit and revenue above Wall Street estimates on Tuesday, helped by strength in its merchandise and intermodal segments. Shares of the company rose 3.6% in early trading. Improving intermodal volumes, higher-than-inflation pricing and a better operating ratio have helped the railroad shield profitability even as the …
Norfolk Southern posts upbeat quarterly results on improving rail service, volumes Read More »
By Pooja Menon (Reuters) -Industrial paintmaker Sherwin-Williams missed third-quarter profit estimates on Tuesday, hurt by lower sales in its segments that cater to the housing, automotive and aerospace sectors, sending its shares down more than 4% before the bell. The company expects its fourth-quarter net sales to be flat to up in the low single-digit …
Industrial paintmaker Sherwin-Williams profit misses estimates on weak demand Read More »
