Tag Archives: corporate

Layoffs roiling the tech sector have been the biggest economic story of 2023. And now, it seems those layoffs are spreading into new corners of Corporate America. On Tuesday morning, 3M (MMM) announced it would cut 2,500 manufacturing jobs, as slower-than-expected growth followed from what the company called “rapid declines in consumer-facing markets — a dynamic that accelerated in December — along with significant slowing in China due to COVID-related disruptions.” The news from 3M… Source link

Sanctions against Russian companies and individuals have become a common tool for Western governments to exert pressure on the country’s domestic and foreign policy. However, a new study published in Russia’s main business daily Kommersant finds that sanctions targeted against executives – as opposed to oligarchs or politicians – may have unintended and long-term… Source link

A longstanding medical tech maker is now set to make its own moves. GE HealthCare made its market debut on Wednesday under the ticker symbol GEHC, finalizing a spin-off from General Electric (GE), which is shifting its focus exclusively to aviation. “It’s enabled us to kind of simplify how we run the company,” Peter Arduini, CEO and president of GE HealthCare, said in an interview with Yahoo Finance (video above). “And ultimately, it’s about capital allocation over the long run.” GE… Source link

This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe Friday, Oct. 21, 2022 My word-find function has been going into overdrive this earnings season, looking for a few key phrases in earnings-call transcripts: “Foreign exchange.” “Currencies.” “Dollar.” Netflix (NFLX) Chief Financial Officer Spencer Neumann summed it up succinctly in his company’s conference call: “The FX drag is… Source link

This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe Tuesday, June 7, 2022 Today’s newsletter is by Myles Udland, senior markets editor at Yahoo Finance. Follow him on Twitter @MylesUdland and on LinkedIn. Earnings season may be done, but corporate results are set to be the stock market’s next big problem. Again. In a note to clients published Monday, Morgan Stanley strategist Mike Wilson noted… Source link

Lino Mirgeler/picture alliance via Getty Images Sheryl Sandberg announced Wednesday she is leaving Meta after 14 years. The Wall Street Journal reported Meta was reviewing her personal activities as recently as May. A Meta spokeswoman said the review was not related to Sandberg’s decision to leave. Meta’s Sheryl Sandberg was under investigation for using corporate resources to plan her wedding, sources told The Wall Street Journal. Sandberg announced Wednesday she would be stepping down as head… Source link

JPMorgan says the market bottom is near as corporate buybacks skyrocket — here are 3 high-upside stocks to play that bullish sentiment Stocks have fallen quite a bit in 2022. If you are wondering where the market bottom is, JPMorgan has some good news. The bank sees companies continuing to buy back their shares, which could help stocks establish a bottom. “In the latest sell-off, JPM estimates 3-4x higher buyback executions than trend, which implies the corporate put remains active,”… Source link

This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe Today’s newsletter is by Ethan Wolff-Mann, a senior writer. Follow him on Twitter @ewolffmann. The chorus of those wanting a weaker labor market is getting louder and louder. After the recent job numbers were released last week, Bank of America analysts said in a note they are essentially “rooting against the home team” and hope the numbers stop… Source link

U.S. stocks fell sharply on Friday as investors weighed a bevy of corporate earnings and braced for more aggressive interest rate hikes from the Federal Reserve in coming months. The S&P 500 tumbled 1.9%, while the Dow Jones Industrial Average plunged 580 points, placing both major indexes at a five-week low. The tech-heavy Nasdaq Composite declined 1.9%. Meanwhile, the 10-year U.S. Treasury yield remained at 2.9%, the highest level since December 2018. The losses follow remarks from Fed Chair… Source link

As the West rolls out more sanctions against Russia for its war in Ukraine, another consumer favorite joins the list: Big Macs. McDonald’s Corporation (MCD) said Tuesday the U.S.-based fast-food giant will temporarily close all restaurants in the country and pause operations in its Russian market, heeding to growing criticism over its silence on the conflict even as other multinational companies have severed ties with the nation. “We serve millions of Russian customers each day who count on… Source link