China’s electric vehicle market is booming. But it might not be obvious from a casual glance at how the country’s EV stocks are doing. Sales of new energy vehicles, including plug-in hybrids, in China more than doubled from a year earlier in the first nine months of 2022. More than one in four cars sold … Read more
Kanye West at an event announcing a partnership with Adidas on June 28, 2016 in Hollywood, California. Getty Images Adidas on Wednesday cut its full-year guidance on the back of the German sportswear giant’s termination of its partnership with Kanye West’s Yeezy brand. The company ended its relationship with Ye, formerly known as Kanye West, … Read more
The Walt Disney Co. said it plans to cut marketing and content budgets after the company reported weaker-than-expected fourth-quarter earnings on Tuesday, the result of larger losses in its streaming business that offset strong performance in its theme parks. “We are actively evaluating our cost base at the moment,” Christine McCarthy, Disney’s chief financial officer, … Read more
Elon Musk sold nearly $4 billion in Tesla Inc. TSLA -2.93% stock after buying Twitter Inc. for 44 billion Mr. Musk sold 19.5 million shares in Tesla 4.-8. Nov., according to regulatory disclosures released Tuesday. Tesla’s CEO, who has become the world’s richest person thanks in large part to his stake in the car company, … Read more
Check out the companies making headlines in the dinner trade. Lyft — Shares of Lyft plunged 22.9% after the company’s earnings report showed mixed results last quarter. The ride-hailing company reported adjusted earnings per share of 10 cents, beating analysts’ expectations of 7 cents, but revenue fell short of the Street’s forecast, coming in at … Read more
LOS ANGELES—Lucid Group Inc. said it may raise up to $1.5 billion through the sale of stock to fund future operations as the electric car maker ramps up factory spending to push out more cars. The EV startup disclosed the fundraising plans in regulatory filings after it said third-quarter losses widened from the same period … Read more
The streaming form may be wearing thin in the Magic Kingdom. Disney DIS -0.53% said Tuesday afternoon that it added 12.1 million net new subscribers to its flagship Disney+ streaming service during its fiscal fourth quarter. That was 36% more than analysts had expected, and this time Disney didn’t rely entirely on growth from regions … Read more
Bob Chapek, Disney CEO at Boston College Chief Executives Club, November 15, 2021. Charles Krupa | AP Disney missed expectations for profit and key revenue segments during the fiscal fourth quarter on Tuesday and warned that strong streaming growth for its Disney+ platform may slow going forward. The company’s shares fell about 8% in after-hours … Read more
In this photo illustration, a silhouette of a man holding a medical syringe and vial is shown in front of the Novavax logo on a screen. Cezary Kowalski | Lightrocket | Getty Images Novavax reported an unexpected loss Thursday, but beat Wall Street’s third-quarter revenue expectations. The Covid-19 vaccine maker reported a net loss of … Read more
The market action Tuesday in Uber Technologies is another reason to be bullish on the stock, according to Riholtz Wealth Management CEO Josh Brown. While Uber shares fell more than 2% in midday trading, that’s only a fraction of the loss experienced by its ride-sharing competitor Lyft, Brown said on CNBC’s “Halftime Report.” Lyft’s stock … Read more