By Chavi Mehta and Jane Lanhee Lee (Reuters) -A worse than expected global PC market continues to pummel chipmakers with Advanced Micro Devices on Tuesday forecasting fourth-quarter and full-year revenue below Wall Street estimates. Shares of the company fell 3% in trading after the bell, but quickly recovered, rising 2.2%. While AMD is not immune …
Big slump in PC market slump deepens, hurts AMD revenue Read More »
By David Shepardson WASHINGTON (Reuters) -Senior leaders at the Federal Aviation Administration (FAA) and Commerce Department’s telecommunications unit met to discuss aviation safety concerns raised by new 5G C-Band deployments, two sources briefed on the meeting told Reuters on Tuesday. FAA acting Administrator Billy Nolen and Alan Davidson, who heads the National Telecommunications and Information …
FAA, U.S. telecom agency hold 5G C-Band aviation talks -sources Read More »
(Reuters) -Mondelez International Inc raised its full-year sales and profit forecasts on Tuesday as people continued to snack on the Oreo maker’s chocolates and biscuits despite higher prices. Shares of the Chicago-based company rose about 3% in extended trading, as it also trumped Wall Street targets for third-quarter results. While surging inflation and fears of …
Mondelez sweetens 2022 outlook as snack cravings defy inflation pinch Read More »
By Davide Barbuscia and David Randall NEW YORK (Reuters) – As the market widely anticipates the U.S. Federal Reserve to hike interest rates by another 75 basis points this week, several parts of the U.S. Treasury yield curve point to an upcoming recession. The U.S. central bank has hiked interest rates aggressively this year to …
Explainer-Several parts of the U.S. yield curve are inverted: what does it tell us? Read More »
(Reuters) -Eli Lilly and Co on Tuesday forecast its annual profit and revenue below estimates, as a stronger dollar piled more pressure on the drugmaker struggling with lower insulin prices and generic competition for its cancer drug. The company’s shares fell 2.6% on Tuesday as a forecast cut for the third time this year overshadowed …
Eli Lilly’s dismal annual forecast overshadows quarterly beat Read More »
By Jonathan Stempel (Reuters) -Dollar General Corp, one of the largest U.S. discount retailers, was sued on Tuesday by Ohio, which accused the company of baiting shoppers with low prices on store shelves, only to then charge more at the register. Citing inflationary pressures faced by consumers, Ohio Attorney General Dave Yost said he sued …
Ohio sues Dollar General for baiting shoppers with deceptive pricing Read More »
BERLIN (Reuters) – German media group Bertelsmann SE & Co, owner of Penguin Random House, said on Tuesday it would appeal a ruling by a U.S. court against a planned merger of Penguin and rival Simon & Schuster. “A merger would be good for competition,” said Bertelsmann Chief Executive Thomas Rabe in a statement, adding: …
Bertelsmann: plans to appeal ruling on Penguin Random House book merger Read More »
(Reuters) – Twitter co-founder Jack Dorsey has retained an indirect stake in the social media company Elon Musk took private for $44 billion, a securities filing showed on Monday. (Reporting by Chavi Mehta in Bengaluru; Editing by Devika Syamnath)
By David Randall NEW YORK (Reuters) – Rallies in Getty Images Holdings Inc, Revlon Inc, Tilray Brands Inc and other so-called meme stocks on Monday may be another sign that investors’ appetite for risk is rebounding as the broad S&P 500 closes out the month of October with an 8% gain. Getty Images, which returned …
Meme stock rally could be sign that investor appetite for risk is returning Read More »
By Chuck Mikolajczak NEW YORK (Reuters) – U.S. stocks lost ground on Monday, with the major indexes closing out a strong month of gains on a weaker foot, as investor focus turned to the Federal Reserve’s policy meeting this week. The central bank is widely expected to raise interest rates by 75 basis points on …
Wall Street ends strong month on weaker note; focus on Fed meeting Read More »
