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(Reuters) – Agricultural chemical and seed company Corteva Inc on Wednesday reported first-quarter results that beat market estimates and raised its full-year sales forecast aided by higher prices and strong demand for seeds. Prices of crops have scaled back after rising to record highs as Russia’s invasion of Ukraine last year hit grain supplies, but …

Corteva results beat estimates, agrichemical firm raises sales view Read More »

By Chavi Mehta and Jane Lanhee Lee (Reuters) -Qualcomm Inc on Wednesday forecast third-quarter revenue and profit below Wall Street estimates, citing worries the smartphone industry would take longer to exhaust excess supply before fresh orders flow in. Shares of the chip designer fell 4.3% in extended trading after it said its forecast also accounted …

Qualcomm gives grim outlook as smartphone sales stay weak Read More »

By Ernest Scheyder (Reuters) -Lithium producer Albemarle Corp cut its annual profit forecast on Wednesday despite posting a better-than-expected quarterly earnings, citing softening prices for the metal used to make electric vehicle batteries. Shares of the Charlotte, North Carolina-based company fell 4.5% to $165.19 in after-hours trading. Concern has grown across the lithium industry this …

Albemarle cuts annual profit forecast on softening lithium prices Read More »

NEW YORK (Reuters) – PacWest Bancorp is exploring strategic options, including a potential sale or capital raise, after a liquidity boost it announced last month failed to inspire confidence in its ailing share price, a person familiar with the matter said. PacWest is hoping that to avoid the fate of other regional lenders that were …

PacWest explores options amid stock price plunge – sources Read More »

By Echo Wang NEW YORK (Reuters) – Johnson & Johnson on Wednesday priced the initial public offering (IPO) of its consumer-health business at the upper end of its target range to raise $3.66 billion, people familiar with the matter said, Kenvue Inc defied volatile market conditions to price about 166 million shares at $22 per …

J&J’s Kenvue prices IPO within range to raise $3.7 billion – source Read More »

By Valerie Insinna and Abhijith Ganapavaram WASHINGTON (Reuters) -Spirit AeroSystems Holdings Inc on Wednesday took a hefty $110 million loss in reach-forward charges on Airbus and Boeing jet production and expects a further hit of $31 million to full-year gross profit from disruptions related to a Boeing 737 MAX fuselage production problem. The company announced …

Spirit AeroSystems takes $110 million in charges, profit hit on Boeing 737 Read More »

(Reuters) – PacWest Bancorp has been weighing a range of strategic options, including a sale, Bloomberg News reported on Wednesday, citing people familiar with the matter. (Reporting by Jahnavi Nidumolu in Bengaluru; Editing by Arun Koyyur)

By Medha Singh and Chibuike Oguh (Reuters) -Shares of mid-sized U.S. lenders edged lower in volatile trading on Wednesday, giving back early gains despite reassurances by U.S. Federal Reserve Chair Jerome Powell that the country’s banking system remains resilient. U.S. banks had two straight days of losses sparked by the collapse of First Republic Bank, …

US regional bank stocks bounce around after two-day tumble Read More »

By Caroline Valetkevitch NEW YORK (Reuters) – U.S. stocks ended lower on Wednesday, reversing gains after comments by Federal Reserve Chair Jerome Powell left investors wondering what the U.S. central bank’s next move would be with interest rate hikes. Indexes initially held onto gains following the Fed’s statement. It increased interest rates by a quarter …

Wall Street ends down on nagging uncertainty about Fed rate path Read More »

(Reuters) -MetLife Inc reported a drop in first-quarter profit on Wednesday, as growing economic uncertainty hurt the insurer’s adjusted premiums, fees and other revenues. Adjusted premiums, fees and other revenues fell 8% due to declines in the United States, Asia and EMEA regions, while that excluding pension risk transfers (PRT) rose 3%. Net investment income …

MetLife profit drops as economic worries hurt adjusted premiums Read More »