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Wall Street slipped on Tuesday, following mixed earnings from United Parcel Service and General Motors, as well as resilient labor market data that dampened expectations for an early start to rate cuts. United Parcel Service slumped 8.1%, after the package delivery giant forecast annual revenue below estimates. General Motors, on the other hand, jumped 7.1% after the automotive firm forecast upbeat earnings for 2024 and signaled more capital return to shareholders...
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While automakers and suppliers are betting big on future demand for electric vehicles, a near-term global slowdown is causing pain, including bankruptcies, scrapped initial public offerings and production cuts. Investment in capacity and technology development has outrun actual EV demand, boosting pressure on companies to cut costs. GM previously cut EV production targets due to the slowing demand, but Barra told analysts GM was "encouraged" by industry forecasts that EV sales in the United States are forecast to rise at least 10% this year from about 7% in 2023...
Continue ReadingThe Dow Jones Industrial Average dropped Tuesday on key economic data. Alphabet, Microsoft and AMD will report earnings late...
Continue ReadingThe company's guidance for 2024 underwhelmed...
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More 'Suits' on the way? New viewership data shows licensed content as a clear streaming wars winner...
Continue ReadingAmazon's (AMZN) fourth-quarter results are likely to reflect benefits from AWS' expanding customer base, driven by the strong services portfolio and rising number of cloud regions...
Continue ReadingThe electric vehicle (EV) market, long dominated by Tesla Inc. (NASDAQ:TSLA), faces a potential challenger in VinFast Auto Ltd. (NASDAQ:VFS), a Vietnamese carmaker making rapid strides. Tesla’s supremacy in the EV market has been evident through its diverse range of models, including the recent Cybertruck. In 2023, Tesla showcased its expertise by producing 1,845,985 vehicles and delivering 1,808,581, achieving a 38% year-over-year growth in EV deliveries, according to a recent investor relation...
Continue ReadingWondering how to pick strong, market-beating stocks for your investment portfolio? Look no further than the Zacks Style Scores...
Continue ReadingAhead of earnings reports from Microsoft (MSFT) and Alphabet (GOOG, GOOGL), Yahoo Finance Tech Editor Dan Howley previews investor expectations for the Big Tech players. Both tech giants have invested heavily in AI, with Microsoft developing Copilot while Alphabet has focused on Duet AI and Gemini. Investors will be watching how these AI pivots may impact revenue and margins. Microsoft is forecasted to post revenue of $61.14 billion and adjusted EPS of $2.76. Alphabet has revenue expectations of $70.98 billion and adjusted EPS of $1.72. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Angel Smith...
Continue ReadingIt’s a busy week for Big Tech earnings. The action starts today. Five of the Magnificent Seven—Alphabet, Amazon.com, Apple, Meta Platforms and Microsoft—report this week, as part of a broader results deluge...
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