Tag: NYSE:BAC
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Tesla Resolves Autopilot Lawsuit, JPMorgan Unveils Potential CEO Successors, and More
Tesla (NASDAQ:TSLA) – Tesla settled a lawsuit regarding a fatal Autopilot accident before the high-profile trial. The company faces legal and reputational challenges amidst promoting autonomous driving technology. Despite Elon Musk’s optimism, critics question the feasibility of self-driving cars. In other news, Tesla founder Martin Eberhard expressed regret over the cancellation of plans for a…
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Apple Terminates 614 Employees, Disney Unveils June Crackdown on Password Sharing, and More Updates
Apple (NASDAQ:AAPL) – Apple is laying off 614 employees in Silicon Valley after ending its secret autonomous electric vehicle project. These are the first significant job cuts since the beginning of the pandemic, mainly impacting satellite offices in Santa Clara, California. Moreover, Hon Hai, known as Foxconn (USOTC:FXCOF), saw an 11.8% increase in sales in…
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Exxon Mobil Forecasts Earnings Decline, Twilio Seeks Board Tenure Changes, and More News
Exxon Mobil (NYSE:XOM) – Exxon Mobil predicted a drop in first-quarter operating results due to lower oil and gas prices and significant losses on fuel derivatives. After two years of strong profitability, the quarter registered an operating profit of about $6.65 billion. Twilio (NYSE:TWLO) – Twilio, a leader in cloud communications, proposes to shorten the…
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GameStop Shares Tumble 20% in Pre-Market Trading Amid Revenue Decline, Direct Digital Plummets 42%, and More News
GameStop (NYSE:GME) – GameStop reported $1.79 billion in revenue for the fourth quarter, which is less than the $2.23 billion earned in the same quarter of the previous year. However, the company announced an adjusted earnings per share of 22 cents, compared to the previous year’s 16 cents per share. Shares of the video game…
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FedEx Soars 13% with Profits Above Forecasts, Nike Hit by China Slowdown, and Latest News
FedEx (NYSE:FDX) – FedEx exceeded profit forecasts for the quarter, posting an adjusted profit of $3.86 per share, higher than the $3.45 per share expected by analysts consulted by LSEG. However, the company’s revenue did not meet estimates. FedEx also announced a $5 billion share buyback program. FedEx shares rose 12.6% in pre-market trading. Nike…
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Unilever Initiates Ice Cream Division Spin-Off and Announces Job Cuts; Berkshire Ramps Up Share Buyback Efforts, and More
Unilever (NYSE:UL) – Unilever announced on Tuesday the spin-off of its ice cream unit, including Magnum and Ben & Jerry’s, into an independent business, accompanied by a cost-cutting program that would cut 7,500 jobs. The initial action resulted in a 3.2% increase in shares in pre-market trading. Berkshire Hathaway (NYSE:BRK.A) – Berkshire Hathaway has stepped…
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Adobe Stock Drops Following Below-Estimate Projections, Cardlytics Surges with Unexpected Profit, and More News
Adobe (NASDAQ:ADBE) – Adobe‘s shares fell approximately 11.65% in pre-market trading following a robust first fiscal report. Adobe reported an adjusted earnings per share of $4.48 on revenue of $5.18 billion, compared to LSEG consensus estimates of earnings of $4.38 per share and revenue of $5.14 billion. Net income was $620 million. Adobe projected earnings…
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Oracle Soars 13% With Exceptional Growth and Boosts Nvidia Shares With Collaboration Announcement, and More
Nvidia (NASDAQ:NVDA) – Nvidia shares are up 1.7% in Tuesday’s pre-market, driven by Oracle‘s (NYSE:ORCL) emphasis on its importance in the artificial intelligence market. After Monday’s close, Oracle announced a new cloud computing infrastructure deal with Nvidia. Nvidia shares closed lower on Monday, but Oracle CEO Safra Catz indicated a promising collaboration in an earnings…
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Tesla Exits Market Top 10, Victoria’s Secret Stock Tumbles 30% on Weak Forecast
Tesla (NASDAQ:TSLA) – Tesla exited the top 10 largest US companies by market cap for the first time in 13 months, surpassed by Visa (NYSE:V). The stock drop reflected concerns about margins and demand. Elsewhere, Tesla announced its departure from Australia’s main automotive lobby, accusing it of misleading consumers about fuel efficiency standards. The company…
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Futures Pointing To Continued Weakness On Wall Street
The major U.S. index futures are currently pointing to a lower open on Tuesday, with stocks likely to see further downside following the modest pullback seen on Monday. Traders may continue to cash in on recent strength in the markets, which lifted the S&P 500 and the Nasdaq to record closing highs last Friday. Uncertainty…