Tag Archives: losing

Yasin Ozturk/Anadolu Agency via Getty Images Musk said Tesla was losing billions of dollars at its new factories because of supply-chain snags. The CEO has complained about supply-chain shortages in the past. Musk is one of many auto executives who have said shortages may further hurt the industry. Elon Musk said during a recent interview that electric-car-battery shortages and supply-chain snags were costing Tesla billions of dollars. “Both Berlin and Austin factories are gigantic money furnaces… Source link

U.S. stocks rose on Friday, setting the major indexes on track to end a weeks-long losing streak after a string of more upbeat corporate results at least temporarily offset fears of a steep economic slide. The S&P 500 gained. The blue-chip index headed for a 4% weekly advance as of Thursday’s close, which if maintained, would mark its largest since mid-March. The S&P 500 had fallen for the seven consecutive weeks prior in its longest losing streak since 2000. The Dow Jones Industrial Average… Source link

Elon Musk has finally come out, politically. He used to vote for Democrats, but henceforth can only vote for Republicans. The Tesla CEO and President Biden ought to be natural allies. Biden has an ambitious green-energy agenda, including the mass electrification of automobiles. Musk leads the world’s most prominent electric vehicle company. They’re rowing in the same direction and ought to be in the same boat. Instead, they’re splashing each other like 12-year-olds. Biden has miffed Musk… Source link

U.S. stocks rose on Friday, though the major indexes still headed for steep weekly losses as concerns over the resilience of corporate profits in the face of inflation resurged this week. The S&P 500 advanced by about 0.8% just after the opening bell, following equities in Asia and Europe higher after China’s central bank unexpectedly cut a benchmark interest rate to offer some relief to borrowers in the country still grappling with a widespread COVID-19 outbreak. The Dow rose by more than 150… Source link

(Bloomberg) — Wall Street’s favorite FAANG is mired in its worst monthly stock performance in two years and analysts are counting on earnings to pull it out of the tailspin. Most Read from Bloomberg Google owner Alphabet Inc. is down about 13% in April, erasing $237 billion in market value as jittery investors dump growth stocks amid fears of bigger and faster rate hikes thanks to rising inflation. One constant in the turmoil: analysts’ enthusiasm, with zero sell and hold recommendations… Source link

U.S. equity futures were flat heading into overnight trading Wednesday after stocks ended a losing streak to log their best session in two years. All three main benchmarks closed higher for the first time in four days and commodity prices retreated from a recent spike as investors looked optimistically toward a possible de-escalation of Russia’s war in Ukraine. Contracts on Wall Street’s key hovered near the flatline in post-market trading after the S&P 500 notched its best day since June… Source link

The two most common reasons to walk away from a proposed business deal are that a) you no longer want to be in that business/deal or b) when negotiations inevitably resume, you believe you can get more favorable terms. Last week, the ACC, Big Ten and Pac-12 — or “The Alliance” as they call themselves — bailed on a proposed expansion of the College Football Playoff from four teams to 12. Seven conferences — most notably the SEC — and Notre Dame were in favor of the proposal. Since… Source link

The LinkedIn posts of departing Peloton employees (and those people in the industry willing to help them) are piling up on Tuesday, one comes from the former CEO of Precor. Peloton spent $420 million to buy commercial fitness giant Precor in December 2020 as it sought to build out production capacity to support its then views of strong future demand. It stands as the company’s largest acquisition in its history. The acquisition gave Peloton 625,000 square feet of U.S. manufacturing capacity… Source link

Edelman’s Trust Barometer for 2022 revealed that the global level of trust in government and media is dropping. An annual online survey conducted in 28 countries and reaching over 36,000 respondents found that distrust in political institutions fell in 2021 across the world. Among the key findings of the report was the overall lower trust in world leaders and institutions around the world, with 67% of respondents saying they worry that journalists and reporters were “purposely trying to… Source link

The Los Angeles Lakers‘ braintrust is leaning heavily toward making coach Frank Vogel the scapegoat for their own failure to build another NBA championship-level roster around LeBron James and Anthony Davis. Vogel was “coaching for his job” during Monday’s victory against the Utah Jazz and will continue to be “evaluated on a game-to-game basis” going forward, according to The Athletic’s Bill Oram and Sam Amick.  In other words, Vogel could be fired any day now. The Lakers won the title just… Source link