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Shell Posts $6.2 Billion Third-Quarter Profit
1 year ago
Stocks News
Oil giant Shell this week reported a $6.2 billion profit for the third quarter, in line with estimates, as the company received a boost from higher oil prices and refining margins.Profit was higher than the $5.1 billion in the second ...
Coke and Pepsi Stocks are Both Struggling
1 year ago
Stocks News
Coca-Cola and PepsiCo’s stocks have struggled this year, hurt by higher interest rates and investor concerns about the possible negative impact of weight loss drugs like Wegovy.Despite that, both companies topped Wall Street’s estimates for their third-quarter results and raised ...
Amazon Revenue Jumps 13%
1 year ago
Stocks News
The e-commerce titan this week announced revenue of $143.1 billion for the quarter ending in September, showing a 13% rise from the same period last year and outstripping analysts’ estimates.The retailer reported quarterly profits of $9.9 billion, also beating estimates. ...
Mercedes-Benz Shares Fall 6% as Profit Falls
1 year ago
Stocks News
Mercedes-Benz shares fell sharply on Thursday after the German carmaker reported a decline in profit and revenue as challenges from electric-vehicle competition and unstable supply chains affected its performance.Frankfurt-listed shares were down 6%, putting the stock on course for its ...
Alphabet Shares Drop on Soft Cloud Performance
1 year ago
Stocks News
Google’s parent company Alphabet reported 11% revenue growth in the third quarter, as a return in advertising bumped expansion into double digits for the first time in more than a year. However, company shares dropped almost 7% in late trading ...
Tesla Third-Quarter Earnings Slow
1 year ago
Stocks News
Tesla reported adjusted earnings of $2.3 billion in the quarter, or 66 cents a share, down 37% from a year earlier and the smallest profits it reported in two years. The company also missed on third-quarter revenue of $23.4 billion, up ...
Adidas Shares Climb After Guidance Raise
1 year ago
Stocks News
Shares in Adidas gained 4% at the open on Wednesday after the sportswear company raised its guidance for the year in a surprise third-quarter results pre-release.The German sportswear giant projected a full-year operating loss of 100 million euros ($106 million), ...
Baidu Says Its AI Can Compete With GPT-4
1 year ago
Stocks News
Chinese technology firm Baidu has unveiled ERNIE 4.0, the newest version of its artificial intelligence chatbot that it directly compared to the most advanced versionof OpenAI’s ChatGPT.Company officials say the tool has significantly improved its understanding of queries, generation of ...
Birkenstock to Target $8.6 Billion IPO Valuation
1 year ago
Stocks News
German sandals maker Birkenstock will launch on the New York stock exchange on Wednesday in an initial public offering (IPO).Shares in the company will be priced at $46. This would be in the middle of the company's $44-49 target, giving ...
Evergrande Stock Tumbles as Fears of Collapse Grow
1 year ago
Stocks News
Shares of China’s Evergrande Group crashed again on Wednesday as fears grew of a potential liquidation of the company.The troubled developer’s stock closed down 19% at 4 US cents, putting its market cap at just $539 million. The collapse took ...
Bonds Becoming as Attractive to Own as Stocks
1 year ago
Stocks News
The attraction of owning stocks over less risky investments is at its lowest level in decades, despite the equity market’s upward climb this year.This year, the benchmark S&P 500 index gained a hefty 16%, buoyed largely by Wall Street's enthusiasm ...
Danish Drugmaker Novo Nordisk is Now Europe’s Most Valuable Company
1 year ago
Stocks News
Danish drugmaker Novo Nordisk is now Europe’s most valuable company, dethroning luxury goods giant LVMH.Shares of Novo Nordisk have spiked 40% so far this year, boosted by soaring demand for its weight-loss drugs Wegovy and Ozempic.Sales of the company’s two ...
Nvidia’s Quarterly Sales Double Thanks to AI Boom
1 year ago
Stocks News
Nvidia, the world’s leading chipmaker, is having a storming year, largely thanks to the growing interest in artificial intelligence (AI). After announcing a sales increase of 101% from the previous year, reaching $13.5 billion for the quarter that ended in ...
BYD Shares Jump after EV Maker Posts 200% Profit Surge
1 year ago
Stocks News
Shares of Chinese automaker BYD listed in China jumped more than 5% Tuesday, a day after posting a stellar increase in first-half profit.Thanks to record deliveries, the Chinese electric car maker on Monday posted a 204.68% jump in net profit ...
Evergrande Shares Tank as Trading Resumes after 17 Months
1 year ago
Stocks News
Shares of China Evergrande Group, the world's most debt-laden property developer, tumbled a staggering 87% upon opening on Monday, marking its first trades since March 21, 2022.Monday saw the stock drop to a paltry 22 Hong Kong cents, a steep ...
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