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Rivian lowers earnings guidance after missing Wall Street’s third-quarter expectations

Rivian lowers earnings guidance after missing Wall Street’s third-quarter expectations

Business News

Workers assemble second-generation R1 vehicles at electric auto maker Rivian’s manufacturing facility in Normal, Illinois, U.S. June 21, 2024.  Joel Angel Juarez | Reuters Rivian Automotive lowered its earnings forecast for the year after missing Wall Street’s third-quarter expectations, including a significant miss in revenue. Here’s how the company performed in the quarter, compared with […]

Rivian lowers earnings guidance after missing Wall Street’s third-quarter expectations Read More »

Steve Madden to slash China sourcing by as much as 45% as Trump’s tariff plan looms

Steve Madden to slash China sourcing by as much as 45% as Trump’s tariff plan looms

Business News

The logo of the label Steve Madden at the fashion fair Premium.  ens Kalaene | Picture Alliance | Getty Images Steve Madden said Thursday that it will slash the goods it imports from China by as much as 45% over the next year as it braces for President-elect Donald Trump to carry out his pledge

Steve Madden to slash China sourcing by as much as 45% as Trump’s tariff plan looms Read More »

Bentley Motors further delays all-EV plan amid weak demand as it embraces plug-in hybrids

Bentley Motors further delays all-EV plan amid weak demand as it embraces plug-in hybrids

Business News

A staff member checks a Bentayga SUV on the Bentley production line at its factory in Crewe, England, on Dec. 7, 2022. Phil Noble | Reuters Bentley Motors is once again pushing back a target to exclusively offer all-electric vehicles, with plans to continue leaning into plug-in hybrid electric vehicles until at least 2035. The

Bentley Motors further delays all-EV plan amid weak demand as it embraces plug-in hybrids Read More »

Warner Bros. Discovery adds 7.2 million Max subscribers, the streamer’s largest single-quarter jump

Warner Bros. Discovery adds 7.2 million Max subscribers, the streamer’s largest single-quarter jump

Business News

Jakub Porzycki | Nurphoto | Getty Images Warner Bros. Discovery said Thursday its streaming platform Max added 7.2 million global subscribers in the third quarter. It marked the biggest quarterly growth for the streaming platform since its inception. Max now had 110.5 million subscribers as of Sept. 30. Warner Bros. Discovery’s flagship streaming service has

Warner Bros. Discovery adds 7.2 million Max subscribers, the streamer’s largest single-quarter jump Read More »

Moderna posts surprise profit as Covid vaccine sales impress, cost cuts take hold 

Moderna posts surprise profit as Covid vaccine sales impress, cost cuts take hold 

Business News

Moderna on Thursday posted a surprise profit for the third quarter, smashing Wall Street estimates, as its cost-cutting efforts took hold and sales of its Covid vaccine came in higher than expected.  The biotech company posted a net income of $13 million, or 3 cents per share, for the third quarter. That compares with a

Moderna posts surprise profit as Covid vaccine sales impress, cost cuts take hold  Read More »

E.l.f. shares soar as cosmetics retailer raises guidance after posting 40% sales gain

E.l.f. shares soar as cosmetics retailer raises guidance after posting 40% sales gain

Business News

e.l.f Beauty power grip primer. Courtesy: e.l.f Beauty E.l.f. Beauty raised its full-year guidance on Wednesday after posting a 40% growth in sales.  Shares of the company rose nearly 10% in after-hours trading. The cosmetics retailer’s earnings came in well ahead of expectations on the top and bottom lines and it now expects sales to

E.l.f. shares soar as cosmetics retailer raises guidance after posting 40% sales gain Read More »

Stellantis to indefinitely lay off 1,100 workers at Jeep plant in Ohio

Stellantis to indefinitely lay off 1,100 workers at Jeep plant in Ohio

Business News

A view of the Jeep Plant where United Auto Workers members are picketing on September 18, 2023 in Toledo, Ohio. Sarah Rice | Getty Images DETROIT — Automaker Stellantis announced plans Wednesday to cut a manufacturing shift and indefinitely lay off roughly 1,100 workers at a Jeep plant in Ohio. The company, which has been

Stellantis to indefinitely lay off 1,100 workers at Jeep plant in Ohio Read More »

Foreign automaker stocks slide on Trump tariff fears

Foreign automaker stocks slide on Trump tariff fears

Business News

Republican presidential nominee and former U.S. President Donald Trump speaks during a campaign town hall meeting, moderated by Arkansas Governor Sarah Huckabee Sanders, in Flint, Michigan, U.S., September 17, 2024.  Brian Snyder | Reuters DETROIT — Stock prices of foreign automakers, including Chinese and German manufacturers, fell sharply on Wednesday amid concerns the U.S. will

Foreign automaker stocks slide on Trump tariff fears Read More »

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