(Reuters) -U.S. natural gas firm Chesapeake Energy posted a sharp drop in third-quarter profit on Tuesday, hurt by lower prices and production. U.S. natural gas prices have fallen about 60% in the third quarter, compared with a year earlier, as production continued to rise and concerns eased over energy security following Russia’s invasion of Ukraine …
Chesapeake Energy posts lower quarterly profit as prices slump Read More »
(Reuters) – Tesla is aiming to make 200,000 units of its electric pickup truck, Cybertruck, per year, Chief Executive Officer Elon Musk said on Tuesday. The company had earlier said that Tesla had the capacity to make more than 125,000 Cybertrucks annually, with Musk adding there was potential to lift it to 250,000 in 2025. …
Musk says Tesla aims to make 200,000 Cybertrucks a year Read More »
(Reuters) – Match Group on Tuesday forecast revenue for the fourth quarter below Wall Street estimates, anticipating continued weakness in spending on dating services amid unrest in some markets and high inflation. The company sees total revenue between $855 million to $865 million for the quarter ending December. Analysts were expecting $895.2 million, according to …
Tinder-parent Match Group forecasts quarterly revenue below estimates Read More »
By David Shepardson WASHINGTON (Reuters) -A group representing major automakers on Tuesday said the industry opposes steelmaker Cleveland-Cliffs’ proposed acquisition of U.S. Steel, saying it would increase auto industry costs and slow electric vehicle sales. The Alliance for Automotive Innovation, representing General Motors, Toyota Motor, Volkswagen, Hyundai and other major automakers, in a letter to …
Automakers oppose Cleveland-Cliffs push to buy U.S. Steel Read More »
(Reuters) – Caesars Entertainment beat third-quarter profit estimates on Tuesday, as steady demand in Las Vegas casinos helped boost revenue. Discretionary consumer spending has been shifting away from goods and towards experiences, profiting casino operators such as Caesar’s Entertainment. Las Vegas-based casino operators benefited from a 64.3% year-on-year rise in convention attendance in August, according …
Caesars Entertainment beats Q3 profit estimates on steady demand in Las Vegas casinos Read More »
By Chavi Mehta and Stephen Nellis (Reuters) -Chip designer Advanced Micro Devices forecast fourth-quarter revenue and gross margins below Wall Street estimates on Tuesday, hurt by a weak gaming market as well as a decline in demand from some industries for its programmable chips. Shares of the Santa Clara, California-based company fell as much as …
By Sinéad Carew and Amruta Khandekar (Reuters) – Wall Street’s main indexes ended Tuesday’s session with gains as investors looked ahead to the Federal Reserve’s monetary policy update while they digested a mixed batch of earnings reports. The Fed kicked off a two-day monetary policy meeting. The central bank is widely expected to hold interest …
Wall St closes higher on eve of Fed decision; investors assess earnings Read More »
(Reuters) -Lithium producer Livent Corp posted a lower-than-expected quarterly profit on Tuesday and cut its annual revenue and earnings forecast, citing expansion delays in Argentina. The company pushed back the opening of a key expansion of its lithium operations in northern Argentina to next year from late 2023. The expansion is expected to boost production …
Livent quarterly profit misses, cuts forecast on expansion woes Read More »
By Jacob Gronholt-Pedersen COPENHAGEN (Reuters) – Carlsberg has cut all ties with its Russian business and refuses to enter a deal with Russia’s government that would make its seizure of the assets look legitimate, the brewer’s new CEO said on Tuesday. The Danish group had since last year attempted to sell its Baltika subsidiary in …
(Reuters) -Financial markets have got off to a volatile start to the week, after Hamas militants launched an assault on Israel at the weekend, triggering violent conflict that left hundreds dead. A bond market rout last week and currency gyrations already had financial markets on edge ahead of U.S. inflation numbers and the start of …
