GM CEO and Chair Mary Barra speaks during an “EV Day” on March 4, 2020, at the company’s tech and design campus in Warren, Michigan, a suburb of Detroit. GM General Motors‘ goal of being capable of producing 1 million all-electric vehicles in North America by the end of 2025 in heavily in doubt, following … Read more
Pedestrians walk past a Burberry Group Plc store, left, in the Causeway Bay shopping district of Hong Kong. Xaume Olleros | Bloomberg | Getty Images Shares in Burberry plunged over 15% in early trading on Monday after a disappointing first-quarter performance led it to issue a profit warning, replace its CEO and axe its dividend. … Read more
David Solomon, Goldman Sachs interview with David Faber, September 7, 2023. CNBC Goldman Sachs is scheduled to report second-quarter earnings before the opening bell Monday. Here’s what Wall Street expects: Earnings: $8.34 per share, according to LSEG Revenue: $12.46 billion, according to LSEG Trading Revenue: Fixed Income of $2.96 billion, Equities of $3.17 billion, per … Read more
Wall Street managed to finish higher this week despite Thursday’s brutal rotation out of tech stocks. The Dow Jones Industrial Average was the big winner on the week — advancing nearly 1.6% as favorable inflation data prompted investors to scoop up economic- and rate-sensitive stocks that have not done as well this year. The S … Read more
Avenue Supermarts, which runs the popular DMart chain of retail stores, on Saturday, announced that its consolidated profit for the quarter ended June 2024 has jumped 17.5% to Rs 774 crore as against Rs 659 crore in the corresponding quarter of the previous financial year. The company’s revenue jumped 18.6% year-on-year (YoY) to Rs 14,069 … Read more
IT services companies like TCS and HCL Tech kickstarted the first quarter earnings season in the week gone by posting better than expected results. Today, about 14 companies will release their June quarter results including Avenue Supermarts, which operates DMart. Other results to watch out for include Bhansali Engineering, Excel Realty N Infra, Geojit Financial … Read more
Wells Fargo on Friday reported a 9% decline in net interest income, even though its second-quarter earnings and revenue exceeded Wall Street expectations. Here’s what the bank did compared with Wall Street estimates, based on a survey of analysts by LSEG: Earnings per share: $1.33 versus $1.29 cents expected Revenue: $20.69 billion versus $20.29 billion … Read more
CEO of Citi, Jane Fraser during the panel on Tech and finance – tailwinds and headwinds at the Global Hong Kong Global Financial Leaders Investment Summit on November 7, 2023 in Hong Kong, China. Vernon Yuen | Nurphoto | Getty Images Citigroup on Friday posted second-quarter results that topped expectations for profit and revenue on … Read more
Ericsson announced it is planning to cut jobs as part of its cost-cutting measures. Nurphoto | Nurphoto | Getty Images Ericsson shares leapt 8% to their highest level in nearly two years on Friday, after the Swedish telecom giant’s revenue declined less than expected in the second quarter. Net sales fell 7% year-on-year to 59.8 … Read more
Jamie Dimon, chairman and chief executive officer of JPMorgan Chase & Co., speaks during an Economic Club of New York (ECNY) event in New York, US, on Tuesday, April 23, 2024. Victor J. Blue | Bloomberg | Getty Images JPMorgan Chase is scheduled to report second-quarter earnings before the opening bell Friday. Here’s what Wall … Read more
