Latest in Profit Plunges Cuts
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The Budget in brief: what you need to know
A quick guide to the UK chancellor’s main policy announcements and official economic forecastsBusiness - Financial Times - 5 days ago -
Super Micro Computer shares drop by one-third after EY resigns as auditor
Server maker said in August it would delay the release of its fiscal year 2024 resultsBusiness - Financial Times - 5 days ago -
Super Micro Computer's shares plunge 33% after server maker's accounting firm quits
Shares of Super Micro Computer have plunged more than 33% after the server maker disclosed that Ernst & Young had resigned as its public accounting firmTech - ABC News - 5 days ago -
Trump's wealth slumps by $1.9 billion amid DJT stock plunge
Trump Media & Technology Group's stock, which trades under DJT, is plunging just days before the November 5 election.Top stories - CBS News - 4 days ago -
Super Micro's 45% plunge this week wipes out stock's gains for the year
Super Micro investors have been fleeing for the exits this week after the company lost its second auditor in less than two years.Business - CNBC - 3 days ago -
The Dow needs Nvidia to give chipmakers representation in index after Intel's plunge
Intel has fallen so far so fast that the chipmaker's stock price is no longer having an impact on the Dow Jones Industrial Average.Business - CNBC - 18 hours ago -
Marqeta shares plunge more than 30% on big forecast miss
Marqeta shares plummeted after the company's forecast for the fourth quarter fell shy of analysts' expectations.Business - CNBC - 16 hours ago -
Iberdrola Profit Lifted by Record Investments
Spain’s energy giant Iberdrola posted a 50% rise in net profit for the first nine months of the year helped by record-high investments in its U.S. and U.K. networks.Business - The Wall Street Journal - October 23 -
Bank of Canada resorts to jumbo rate cut as growth falters
Slowdown prompts shift to 50bp reduction, with rate-setters saying borrowing costs are likely to fall furtherWorld - Financial Times - October 23 -
OPEC extends oil output cuts
The OPEC bloc of oil-producing nations announced Monday that it will extend oil production cuts through the end of 2024, spurring a 2 percent increase in the price of U.S. benchmark West Texas ...Politics - The Hill - 21 hours ago -
Wall Street banks enjoy bumper fees as debt issuance and deals activity rebound
Morgan Stanley rounds off strong earnings seasonBusiness - Financial Times - October 16 -
Whitbread Aims to Boost Profit, Shareholder Returns
The U.K. hotel-and-restaurant company said it forecasts an increase of at least £300 million in profit by fiscal 2030, and to generate more than £2 billion for dividends, share buybacks and ...Business - The Wall Street Journal - October 16 -
ABB Posts Higher Profit, Raises Margin Guidance
The Swiss industrial-technology company’s profit and revenue rose as the electrification business offset weakness in robotics, discrete automation and e-mobility.Business - The Wall Street Journal - October 17 -
CVS replaces CEO as profits, share price suffer
Longtime CVS Health executive David Joyner has replaced Karen Lynch as CEO, as the company struggles to drive higher profits and stock performance, CVS announced Friday.Top stories - NBC News - October 18 -
Tele2 Posts Higher Profits; Backs Targets
Tele2 reported a slightly higher third-quarter net profit, helped by growth in revenue from its core telecommunications services, though revenue and underlying earnings were a touch below ...Business - The Wall Street Journal - October 22 -
Tesla shares jump on profit beat, Musk's prediction of at least 20% 'vehicle growth' next year
Tesla reported better-than-expected profit in its third-quarter earnings report on Wednesday.Business - CNBC - October 24 -
Tesla Surprises Wall Street With Strong Third-Quarter Results
The robust performance comes after a tumultuous start to the year in which Tesla’s profit fell for two straight quarters.Business - The Wall Street Journal - October 24 -
Barclays profits rise 23% as dealmaking returns
UK bank lifts guidance for net interest incomeBusiness - Financial Times - October 24 -
Hasbro’s third-quarter profit beats expectations, but its stock slips
Hasbro Inc.’s third-quarter profit beat expectations Thursday, fueled by its gaming and licensing businesses shares, but the toy maker’s stock is down 4%.Business - MarketWatch - October 24 -
NatWest profits rise by a quarter as lending and deposits grow
Bank also sets aside £245mn in provisions for bad loans, higher than expectations of £173mnBusiness - Financial Times - October 25 -
FirstFT: Twin scandals hit PwC’s Asia profits
Also in today’s newsletter, the fallout from the Madison Square Garden rally and what happened to Project 2025?World - Financial Times - October 29 -
In Botswana’s Election, Diamond Profits Are a Defining Issue
The party that has governed the country since 1966 could lose power as the economy struggles from a slump in demand for diamonds, which made Botswana an African success story.World - The New York Times - 6 days ago -
Clariant Third-Quarter Profits Miss Expectations
The chemicals company reported weaker results for the three months through September and cautioned that it didn’t expect a significant economic recovery in 2024 due to persistent economic challenges.Business - The Wall Street Journal - October 29 -
Santander's Profit Beats Expectations on Lower Provisions, Costs
Spain’s largest bank by market capitalization reported a 12% on-year increase in net profit for the three months ended Sept. 30, as lighter provisions and costs helped offset the impact from the ...Business - The Wall Street Journal - October 29 -
UK borrowing costs hit post-election high on eve of Reeves’ first Budget
Chancellor will draw parallels with Tony Blair government’s efforts to repair country’s social fabric in late 1990sBusiness - Financial Times - 6 days ago -
StanChart to double investment in wealth management as profits rise
Wealth business had record quarter as revenues rose 32%Business - Financial Times - 6 days ago -
UBS reports better than expected profits
Swiss bank’s markets business helped by increase in volatilityBusiness - Financial Times - 6 days ago -
Next profits poised to top £1bn for first time
UK retail bellwether raises outlook for third time in three months on the arrival of colder weatherWorld - Financial Times - 6 days ago -
Volkswagen Profit Shrinks as Unions Threaten Strike
Germany’s biggest automaker said its profit dropped 42 percent in the third quarter, as union leaders warned that workers were ready to walk out over a wage dispute.Business - The New York Times - 5 days ago -
Reddit shares close up 42% on profitability, rosy guidance
Reddit shares popped Wednesday, one day after the company reported rosy third-quarter results.Business - CNBC - 5 days ago -
Samsung Sees Progress in Memory Chips for AI After Delays
The South Korean tech giant reported better-than-expected net profit but earnings in its core semiconductor business shrank sharply.Tech - The Wall Street Journal - 5 days ago -
Aker Solutions Upbeat Despite Profit Miss
Aker Solutions reported below-forecast third-quarter results but said its outlook remained positive with high tender activity.Business - The Wall Street Journal - 5 days ago -
BNP profits rise driven by global markets business
Eurozone’s biggest bank posts gains for third quarter across equities and fixed-income tradingBusiness - Financial Times - 5 days ago