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Lucid Q1 Vehicle Output, Delivery Down QoQ, Share Price Falls
US electric vehicle company Lucid Group Inc said on its website Thursday that production and deliveries for the quarter ending at the end of March were lower than in the previous quarter ending at the end of December. The electric vehicle maker produced 2,314 units in the first quarter at its plant in Arizona and…
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Walmart Sells Menswear Brand Bonobos for $75 million
Walmart Inc (NYSE:WMT), the largest US retailer, is selling menswear brand Bonobos to Express Inc (NYSE:EXPR) and WHP Global for $75 million. WHP Global, which owns fashion brands such as Toys “R” Us, Anne Klein and Joseph Abboud, partnered with Express earlier this year for a stake in the apparel retailer. It is the first…
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Boeing Suspends Deliveries Of Some 737 Max Amid New Supplier Concerns
Boeing has suspended deliveries of some 737 MAX aircraft as Spirit AeroSystems grapples with new supplier quality issues that can be traced back to 2019, the American aircraft maker said on Thursday. The issue is likely to affect a “significant” number of undelivered 737 Max aircraft in production and storage and could reduce 737 Max…
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Boeing Halts Deliveries, Gold Prices Soar, Teck Rejects Merger
US Stocks Rise US stocks rose on Thursday after lower-than-expected inflation data increased hopes of a possible slowdown in the Federal Reserve’s tightening cycle. The S&P 500 (SPI:SP500) and Nasdaq (NASDAQI:NDX) both saw gains of 1.3% and 1.9% respectively. In Europe, stocks also edged higher on Friday, with the Stoxx 600 (STOXX:SSXP) up 0.2%, set…
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US Default Concerns Rise, UK Restricts Second-Home Rentals, European Gas Prices Decline
FBI Arrests Alleged Leaker The FBI arrested Jack Teixeira, the alleged leader of an online group that leaked American intelligence files. Merrick Garland, America’s top prosecutor, stated that Teixeira, a 21-year-old man employed in the intelligence wing of the Massachusetts Air National Guard, is accused of illegally sharing “classified national defense information” and will be…
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LSE to Clear Crypto Derivatives, Tesco Struggles with Inflation Impact, Delta Air Lines Reports Q1 Loss
US Equities Rise on Soft Inflation Data US equities traded higher on Thursday as the latest readings on jobs and factory-gate inflation came in slightly softer than expected, which provided a boost to those hoping for a potential end to the era of aggressive interest rate hikes by the Federal Reserve. The S&P 500 (SPI:SP500)…
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U.S. Supplier Prices Decline, U.S. Unemployment Claims Rise, China’s Exports Rebound
U.S. Supplier Prices Decline In March, U.S. supplier prices experienced the largest monthly decline since 2020, indicating a moderation in inflation. The producer-price index fell by 0.5% from the previous month, compared to a revised flat reading in January, according to the Labor Department. Year-on-year, supplier prices rose by 2.7% in March, a significant slowdown…
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Delta Air Lines posts quarterly loss, but projects second-quarter profit
Delta Air Lines (NYSE:DAL) posted a larger-than-previously estimated loss for the first three months of the year, but forecast second-quarter revenue and profit growth above analyst estimates, signaling strong demand for travel, despite weakness in other sectors. CEO Ed Bastian on Thursday dismissed the potential for a reduction in consumer spending. Air travel “is something…
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Wall Street Highlights: Delta Air Lines, Merck, IBM, Philip Morris and more
Main Subjects of the Day US stock futures gained strength on Thursday after another report pointed to cooling inflation. By 9:54 AM ET (12:54 GMT), Dow Jones futures were up 70 points, or 0.21%. S&P 500 and Nasdaq futures were up 0.36% and 0.56%, respectively. The March producer price index, a measure of prices paid by…
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Futures Move Higher Following Unexpected Drop In Producer Prices
US Market The major U.S. index futures are currently pointing to a higher open on Thursday, with stocks likely to move back to the upside after ending yesterday’s extremely volatile session mostly lower. The futures got a boost following the release of a report from the Labor Department showing an unexpected decrease in U.S. producer…