Intel stock jumps on positive outlook despite Q3 losses
Intel (INTC) reported its third quarter earnings after the bell on Thursday, beating expectations on revenue but falling short on earnings per share due to impairment charges. But positive Q4 guidance and a beat on data center revenue helped send the stock higher, as the chipmaker’s shares were up over 5% Friday. For the quarter, […]
BYD Sells Record Half a Million Plug-In Cars in Blowout Month
BYD Co. kicked off the final quarter of the year with record monthly sales, continuing its strong performance in what is typically a peak season for auto purchases in China. The manufacturer’s global passenger-car sales jumped 66% to a record 500,526 units in October, it said Friday. While BYD reached the half-million milestone earlier than […]
Fed seen on course for rate cuts after weak jobs data
(Reuters) – Any doubts the Federal Reserve will go ahead with an interest-rate cut next week fell away on Friday after a government report showed U.S. employers added fewer workers in October than in any month since December 2020. The 12,000 increase in non-farm payrolls last month was far short of the 113,000 economists had […]
US manufacturing drops to 15-month low in October
WASHINGTON (Reuters) – U.S. manufacturing activity slumped to a 15-month low in October and factories faced higher prices for inputs. The Institute for Supply Management (ISM) said on Friday its manufacturing PMI fell to 46.5 last month, the lowest level since July 2023, from 47.2 in September. A PMI reading below 50 indicates contraction in […]
Investor optimism is reaching new heights on Wall Street, according to Bank of America’s Sell Side Indicator (SSI), which rose 50 basis points to 56.7% in October.
The metric, a contrarian sentiment gauge that tracks sell-side strategists’ average recommended equity allocations, has now climbed to its highest level in over two and a half years, according to the bank. BofA reports that the SSI’s recent climb marks the largest 12-month increase since mid-2021, with equity sentiment rising 3.6 percentage points in the […]
Project Green Schools and Brockton High School Awarded $900k to Advance Electric Vehicle Education, Provide EV Technician Training
BOSTON, Nov. 1, 2024 /PRNewswire/ — Project Green Schools (PGS) is proud to announce its involvement in a groundbreaking new initiative aimed at advancing clean energy education and career training at Brockton High School. Supported by a grant from the Massachusetts Clean Energy Center, the initiative will advance electric vehicle education as part of the school’s new Clean Automotive Technology Center […]
Wendy’s is closing 140 restaurants
Wendy’s is closing 140 restaurants in the coming months, the fast food chain announced this week. But the company said it would open an equal number of new locations in areas it believes can generate better business for Wendy’s. The restaurants targeted to close are “outdated and located in underperforming” areas, Wendy’s CEO Kirk Tanner […]
Apple Sparks Concerns With Tepid Forecast, China Weakness
Apple Inc., heading into its most critical sales period of the year, sparked fresh concerns about revenue growth and lingering weakness in an intensely competitive China market. Following the company’s quarterly earnings report, Apple said that total sales in the December period will rise by a percentage in the low-to-middle single digits. Analysts had been […]
Dominion Energy beats Q3 profit estimates on lower costs and steady demand
Dominion Energy beat Wall Street estimates for third-quarter profit on Friday, as the electric utilities company benefited from lower costs and steady electricity demand during hot weather. Utilities are set to gain from growing electricity demand, driven primarily by AI technology and data centers, alongside increased power usage in homes and businesses amid record temperatures. […]
Amazon stock pops after Q3 earnings beat
Amazon (AMZN) stock popped almost 6% in premarket trading on Friday after the company reported stronger revenue and earnings per share for the third quarter than Wall Street expected. The company said on Thursday that it expects revenue in a range of $181.5 billion to $188.5 billion in the fourth quarter. Analysts had forecast $186.36 […]