Bank of America, JPMorgan Chase, Wells Fargo shares shrug off Moody’s outlook cut
Moody’s Investors Service cut its rating outlook to negative from stable on Bank of America Corp., JPMorgan Chase & Co. and Wells Fargo & Co., but the stocks rallied Tuesday on the heels of tame inflation data. “The rating actions … reflect the potentially weaker capacity of the government of the United States of America […]
Fisker shares down Q3 earnings material weakness
Fisker Inc. officially revealed the Fisker Ocean all-electric luxury crossover at CES 2020 in Las Vegas. Shares of electric-vehicle startup Fisker are sinking in premarket trading Tuesday following a disappointing earnings report and a regulatory filing that raised concerns about the company’s previous financial statements. Shares were down more than 17% from their previous close […]
What’s driving Wall Street’s gloomiest interest-rate forecast
UBS economists are not, it should be said, predicting an asteroid to hit the planet. But their view on interest rates is wildly different than the rest of Wall Street and reflects a gloomy forecast for the U.S. economy next year. They expect the federal funds rate, now between 5.25% and 5.5%, to fall all […]
United Airlines tweaks frequent flyer program to reward spending
United Airlines planes at Denver International Airport. Leslie Josephs/CNBC United Airlines plans to make it easier for customers to earn elite status through co-branded Chase credit cards, the latest airline to tweak its lucrative frequent flyer program to reward big spenders. The airline isn’t changing overall requirements for elite frequent flyer status next year, a […]
Australian businesses report slowest price growth since mid-2020
SYDNEY — Australian businesses reported the slowest pace of prices growth in October since July 2020, sending a positive signal that inflation is in retreat. According to the latest monthly survey of business by the National Australia Bank, overall price growth was just 1.0% in quarterly terms, the slowest pace since the early months of […]
Pfizer enters weight loss drug market with Novo Nordisk, Eli Lilly
CFOTO | Future Publishing | Getty Images As its Covid gains evaporate, Pfizer wants a chunk of the budding weight loss drug market. Analysts say upcoming data on Pfizer’s experimental obesity pill, danuglipron, will be crucial in determining how competitive the company can be against the space’s dominant players Eli Lilly and Novo Nordisk. Those […]
Fisker (FSR) earnings report Q3 2023
Fisker began deliveries of its battery-electric Ocean SUV in the second quarter of 2023. Courtesy: Fisker Electric vehicle startup Fisker on Monday reported a third-quarter loss that was wider than Wall Street expected, and said it delivered only about 1,100 Ocean electric SUVs in the third quarter. But, it said, deliveries have accelerated since quarter-end, […]
Fisker’s stock tanks 14% after EV maker widens loss, revenue falls short
Fisker Inc. shares plunged around 14% in the after-hours session Monday after the electric-vehicle maker widened its quarterly loss and reported sales that missed the mark, underscoring the difficulties of turning a profit in the EV world. Fisker FSR, +7.03% lost $91 million, or 27 cents a share, in the third quarter, compared with a […]
Stellantis offers buyouts to roughly half of U.S. salaried workers
Carlos Tavares, CEO of Stellantis, poses during a presentation at the New York International Auto Show in Manhattan, New York, on April 5, 2023. David Dee Delgado | Reuters DETROIT — Chrysler parent Stellantis is offering buyouts to roughly half of its U.S. white-collar employees to reduce headcount and cut costs for the automaker’s North […]
Plug Power’s stock veers between gains and losses as investors seek ‘clarity’
Shares of Plug Power Inc. ended lower on Monday, extending a losing streak to a sixth straight session after the fuel-cell company spooked investors with a going-concern warning, a missed quarter and other ills. The stock weaved in and out of the red Monday, and the gyrations came after Plug Power’s stock PLUG, -1.70% dropped […]
