SAN FRANCISCO (Reuters) – Electric truck maker Nikola Corp said on Thursday it had garnered enough support for a proposal to increase the number of shares it can issue, opening the doors to much-needed capital. The company had to adjourn its shareholder meeting twice because it lacked enough votes, even as it urged shareholders for …
Nikola gets required shareholder votes for share increase proposal Read More »
NEW YORK (Reuters) – JPMorgan Chase said it would need to set aside nearly $3 billion to replenish a government deposit insurance fund, once rules are finalized, according to a regulatory filing on Thursday. (Reporting by Nupur Anand in New York; Editing by Jonathan Oatis)
By Lisa Baertlein and Aishwarya Nair (Reuters) – Thousands of UPS workers will start voting on their tentative contract agreement with the delivery giant on Thursday after local leaders of the International Brotherhood of Teamsters endorsed the union’s deal earlier this week. The tentative deal covering 340,000 Teamsters-represented workers at United Parcel Service averted a …
UPS workers begin vote on tentative deal that averted US strike Read More »
By Echo Wang (Reuters) – U.S. stocks closed little changed on Thursday after a choppy trading session, as investors weighed another rise in Treasury yields with the latest batch of economic data and earnings. The benchmark U.S. 10-year Treasury yield rose as high as 4.198% during the session, the highest since November, extending its climb …
Wall Street closes near flat as Treasury yields surge Read More »
NEW YORK (Reuters) -Block Inc reported a rise in second-quarter revenue on Thursday as payment volumes at the fintech giant led by Jack Dorsey held up against a tough economic backdrop. The company reported net revenue of $5.53 billion in the three months ended June, compared with $4.4 billion a year ago. The fintech, which …
Dorsey-led Block reports rise in second-quarter revenue Read More »
(Reuters) -Coinbase Global beat second-quarter revenue expectations on Thursday as a surge in the crypto exchange’s interest income cushioned a slump in trading volumes. The strong result comes on the heels of a dramatic quarter for the company and its rival Binance who were sued by the U.S. Securities and Exchange Commission in June. The …
Coinbase revenue beats estimates on interest income boost Read More »
(Reuters) – Monster Beverage Corp missed Wall Street estimates for second-quarter sales on Thursday as higher cost of living weighed on demand for its pricier energy drinks and alcohol brands, sending its shares down 3.4% after the bell. Consumers have curbed non-essential spending as disposable incomes remain pressured by rising interest rates and higher food …
Monster Beverage sales miss estimates on lower customer spending Read More »
(Reuters) – Shares of PayPal Holdings fell nearly 9% in premarket trading on Thursday after the digital payments firm reported weak margins for the second quarter that overshadowed a strong outlook. The company reported an adjusted operating margin of 21.4% for the three months ended June 30, below estimates of 22%, according to Refinitiv IBES …
PayPal stock drops after weak second-quarter margins Read More »
(Reuters) – Qualcomm tumbled nearly 9% on Thursday after a gloomy forecast signalled more pain for the largest maker of smartphone chips from the ongoing slump in the consumer electronics market. The drop was set to erase about $13 billion from the company’s market value, based on the premarket share price of $117.7. The stock …
Qualcomm tumbles after signalling more pain from smartphone slump Read More »
By Helen Reid LONDON (Reuters) -Adidas sales should fall only slightly in 2023, a better outcome than previously expected, the sportswear giant said on Thursday, confirming strong demand for its remaining Yeezy shoes would help narrow a projected full-year loss. Adidas shares have gained 40% since the start of the year as investors bet on …
Yeezy destocking helps lift Adidas sales outlook Read More »
