By Juveria Tabassum (Reuters) -Clorox said on Wednesday it expects to rebuild customer inventory levels by the end of the current quarter, as it recovers from an August cyberattack that threw its order fulfillment facilities out of gear for more than a month. Shares of the cleaning supplies maker rose over 6% in extended trade, …
Clorox bets on strong inventory to help overcome cyber attack hit Read More »
By Stephen Nellis and Chavi Mehta (Reuters) – Chip designer Qualcomm forecast first-quarter sales and profits above Wall Street targets on Wednesday as a smartphone sales slump finally starts to ease and a renewed contract with Apple helps boost its outlook. The San Diego, California-based company forecast current-quarter revenue of $9.1 billion to $9.9 billion, …
Qualcomm forecasts beats estimates, shares rise as smartphone slump eases Read More »
(Reuters) -Roku forecast fourth-quarter revenue above Wall Street estimates after posting better-than-expected revenue growth in the previous three months on Wednesday, sending its shares up about 17% in extended trading. A pandemic winner, Roku is benefiting from the ongoing trend of people ditching their traditional cable packages and flocking to subscription-based streaming services. The company’s …
Roku forecasts strong revenue on subscriber, ad strength; shares jump 17% Read More »
(Reuters) – Nutrien fell short of analysts’ estimates for third-quarter profit on Wednesday, as lower potash prices weighed on the world’s biggest fertilizer producer. Potash prices have been falling after shipments from Belarus and Russia resumed. These exports had been significantly restricted last year following Western sanctions imposed on Russia in response to its invasion …
Nutrien misses quarterly profit estimates as potash prices plummet Read More »
By Michael S. Derby NEW YORK (Reuters) – Federal Reserve Chair Jerome Powell said on Wednesday that he sees no reason to change the current drawdown of the central bank’s still-massive balance sheet. The rate-setting Federal Open Market Committee “is not considering changing the pace of balance sheet runoff. It’s not something we’re talking about …
Fed’s Powell says balance sheet rundown will proceed without change for now Read More »
By Chibuike Oguh and Jonathan Stempel NEW YORK (Reuters) -Shares of Douglas Elliman, Compass and eXp World Holdings closed lower on Wednesday after the companies were sued for allegedly conspiring to artificially inflate their commissions from home sales. The proposed class action was filed on Tuesday in Kansas City, Missouri, just hours after a jury …
Shares of Elliman, other realtors fall after $1.78 billion broker commission verdict Read More »
(Reuters) -Albemarle, the world’s largest producer of lithium for electric vehicle batteries, trimmed its annual forecast on Wednesday and reported a lower-than-expected quarterly profit amid slumping prices for the ultralight metal. Shares fell 1.9% to $120.67 in after-hours trading. Worries have been mounting that global EV demand is softening and not keeping pace with aggressive …
Albemarle cuts annual forecast on slumping lithium prices Read More »
By Dawn Chmielewski (Reuters) – Walt Disney on Wednesday formally began the process of buying Comcast’s one-third stake in Hulu, a deal that will give Disney full ownership of the streaming service and freedom to incorporate it into the Disney+ streaming service. NBCUniversal parent Comcast agreed in 2019 to sell its stake to Disney, which …
Disney to buy remaining 33% stake in Hulu from Comcast Read More »
By Valentine Hilaire and Divya Rajagopal (Reuters) – Battered Canadian mining company First Quantum Minerals is bracing for a rocky road ahead as Panama moves to strike down its contract to operate one of the world’s largest copper mines. Panama’s shock decision on Sunday to call a binding vote on whether to scrap the mine’s …
Miner First Quantum faces rocky road as Panama protesters dig in Read More »
(Reuters) – Goldman Sachs’ private equity fund petitioned to the U.S. Federal Energy Regulatory Commission (FERC) in October, to sell electricity on behalf of its affiliate Rhythm Energy, according to a release from Public Citizen on Wednesday. If approved, Goldman Sachs would become the first Wall Street bank to offer retail electricity contracts to homeowners, …
Goldman Sachs applies to sell US retail electricity contracts Read More »
