It’s been a tough year for tech stocks – but there could be reason to hope for long-term growth. Market volatility, supply chain issues and rising inflation have all contributed to the sell-off. Morningstar surveys also suggest that big tech companies could see a significant hit to third-quarter earnings as a strong dollar eats away … Read more
AP Møller-Maersk MAERSK.B -6.59% gets a sinking feeling about the economy. As the pandemic and stimulus-driven trade boom fades, the Danish shipping giant now faces more shocking waters: a looming global recession, an energy crisis in Europe and sour consumers. Shareholders know: The stock fell about 7% by early afternoon in Europe after the company … Read more
TOKYO— Foxconn 2317 -1.44% Technology Group plans to shift some production from its Covid-hit iPhone factory in central China to other parts of the country, people familiar with the matter said, as many workers fearing the outbreak have left the factory. Foxconn has struggled to contain a Covid-19 outbreak at its Zhengzhou facility, the world’s … Read more
TOKYO— Foxconn 2317 -1.44% Technology Group plans to shift some production from its Covid-hit iPhone factory in central China to other parts of the country, people familiar with the matter said, as many workers fearing the outbreak have left the factory. Foxconn has struggled to contain a Covid-19 outbreak at its Zhengzhou facility, the world’s … Read more
Freight companies are preparing for what executives are calling a muted peak season, as dimming shipping demand from overstocked retailers ripples across U.S. shipping markets. Several big operators say they are seeing freight demand drop off rather than pick up heading into what is typically their busiest period of the year. The downshift in business … Read more
To stay on course, Boeing‘s B.A -6.87% turnaround may need the 737 MAX to fly to customers a bit faster. On Wednesday, the Arlington-based plane maker reported bad headline earnings. Excluding pension-related adjustments, net losses for the third quarter amounted to $3.3 billion, or $5.49 per share, when median Wall Street forecasts were for a … Read more
Boeing’s commercial jet business has dealt with supply chain disruptions. Photo: LINDSEY WASSON/REUTERS Boeing co. B.A 3.24% said its losses deepened in the third quarter as fresh problems with its defense business added to the supply chain and regulatory woes in its commercial jet arm. The Arlington, Va., aerospace giant reported a loss of $3.3 … Read more
United Parcel Service Inc.’s earnings rose in the third quarter despite a drop in shipment volume as higher prices boosted business. UPS UPS -0.33% CEO Carol Tomé said the global economy outside the US softened in the third quarter, but the delivery company managed to adapt its networks to changes in package volume. Total revenue … Read more
Chip stocks lagged the broader market on Monday after a report that Taiwan’s manufacturing industry is pessimistic about U.S. efforts to reduce its reliance on foreign capacity, along with a series of downgrades in the analog-chip segment. US shares in Taiwan Semiconductor Manufacturing Co. TSM, -3.84% fell as much as 6% Monday after a Financial … Read more
Rising shipping costs are set to squeeze profits for businesses of all sizes this holiday season. Entrepreneurs and managers say that to cope, they are buying their own delivery vehicles, pleading with customers for patience and changing the products they sell. The moves, they say, are in response to carriers like FedEx corp. FDX 0.73% … Read more