Kimberly-Clark’s stock hit by BofA downgrade, while Clorox gets an upgrade
Kimberly-Clark Inc.’s stock fell 1.5% Friday, after BofA Securities downgraded the stock to underperform from neutral and said the outlook for the company’s profit margins is uncertain. Analysts led by Anna Lizzul cut their stock price target to $115 from $135. “Through 2023, we have seen margin expansion due to benefits from pricing, cost savings, […]
Cruise autonomous vehicle venture in danger of becoming latest GM flop
DETROIT — General Motors‘ plans to diversify its business through trendy industries such as ridesharing and other “mobility” ventures or startups have largely fallen flat since the automaker started investing in such growth areas in 2016. Cruise, its majority-owned autonomous vehicle subsidiary, is increasingly looking like it might be next. The unit has quickly gone […]
Darden Restaurants (DRI) Q2 2024 earnings
An Olive Garden restaurant in Fremont, California, on Sept. 14, 2023. Bloomberg | Getty Images Darden Restaurants on Friday reported quarterly earnings that beat expectations and raised its annual guidance, helped by sales growth at chains such as Olive Garden and LongHorn Steakhouse. Here’s what the company reported for its fiscal second quarter ending Nov. […]
Could Nvidia’s stock — up 231% this year — actually be a bargain?
Want a relatively cheap play on the artificial-intelligence frenzy? The answer might be right in front of you. That’s the view of Bernstein analyst Stacy Rasgon, who asked whether Nvidia shares NVDA, +0.87%, which have surged this year, are actually an “AI budget buy.” “It feels strange to complain about Nvidia’s stock performance given the […]
Moderna, Merck cancer vaccine reduces risk of skin cancer returning
An exterior view of Moderna’s clinical manufacturing facility. David L. Ryan | Boston Globe | Getty Images Moderna and Merck‘s experimental cancer vaccine, when used in combination with Merck’s blockbuster therapy Keytruda, reduced the risk of death or relapse in patients with the most deadly form of skin cancer by half after roughly three years, […]
China economic data shows some renewed signs of weakness
China’s economy showed some renewed signs of weaknesses as key gauges for consumption and investment missed expectations, while Beijing continues to grapple with challenges including a drawn-out property market slump and waning business confidence. Retail sales, a key metric for domestic consumption, rose 10.1% from a year earlier in November, topping the 7.6% growth marked […]
Amazon to connect Kuiper internet satellites with laser links
A visualization of laser links connecting Kuiper satellites in orbit around the Earth. Amazon Amazon will include a key speed-boosting technology in its coming Project Kuiper internet satellites, the company announced Thursday. Amazon says it tested the laser link tech successfully during its recent Protoflight mission. Traditionally, satellites are limited to sending data between an […]
GM’s Cruise laying off 900, or 24% of its workforce: Read the memo
General Motors’ Cruise on Thursday announced internally that it will lay off 900 employees, or 24% of its workforce, the company confirmed to CNBC. The layoffs, which primarily affected commercial operations and related corporate functions, are the latest turmoil for the robotaxi startup and come one day after Cruise dismissed nine “key leaders” for the […]
GM to lay off about 1,300 in Michigan as Bolt, Camaro end production
General Motors Co. will cut more than 1,300 jobs at two auto plants in Michigan effective Jan. 1. According to filings Thursday with state regulators, the automaker will lay off 945 workers at its Lake Orion, Mich., facility, and 369 at its Lansing Grand River assembly/stamping plant.
Christmas meltdown ‘will never happen again’
Southwest Airlines CEO Bob Jordan speaks as he is interviewed by CNBC outside the New York Stock Exchange on Dec. 9, 2021. Brendan McDermid | Reuters With the peak Christmas travel season just days away, Southwest Airlines‘ CEO vowed that the carrier will not have a repeat of last year’s meltdown that stranded thousands of […]
