GE shares slump as worsening supply chain, inflationary woes pressure profit

A traffic light is seen in front of a logo of General Electric at the company’s plant in Birr, Switzerland June 17, 2019. REUTERS/Arnd Wiegmann/File Photo Register now for FREE unlimited access to Reuters.com Register April 26 (Reuters) – General Electric Co (GE.N) on Tuesday said fresh COVID-19 pandemic-related lockdowns in China as well as … Read more

Graphic chip price drop raises questions on whether end of shortage is in sight

April 25 (Reuters) – A sharp drop in graphic chip prices could presage an unexpectedly quick ending to a global chip crunch that has crippled manufacturing from smartphones to cars, and the issue will be a central one for companies reporting results this week. As Intel (INTC.O), Qualcomm (QCOM.O) and others report, investors will weigh … Read more

Factbox: Companies count the cost of ditching Russia

April 22 (Reuters) – Multinational companies that announced their exit from Russia, or suspension of activities there, after its invasion of Ukraine have started to calculate losses associated with their decisions. Below is an alphabetical list of firms that have provided cost estimates related to their temporary or permanent halt of business in Russia: AB … Read more

US Postal Service chief warns of inflation impact

WASHINGTON, April 22 (Reuters) – US Postmaster General Louis DeJoy says the agency is dealing with significant inflation costs as it works to stem losses, acknowledging higher costs will put further pressure on stamp prices. DeJoy told Reuters in a 90-minute interview late on Wednesday the US Postal Service (USPS) is feeling the impact of … Read more

Tesla races ahead of rising raw material costs on price hikes

SAN FRANCISCO, April 20 (Reuters) – Tesla Inc (TSLA.O) surged past Wall Street estimates for quarterly revenue and profit on Wednesday, as the electric carmaker raised prices in response to inflation, offsetting the impact of a Shanghai factory shutdown. Tesla has been an outlier since the pandemic outbreak, posting record deliveries and earnings for several … Read more

Netflix subscribers fall for first time in a decade, shares plunge 23%

April 19 (Reuters) – Global streaming giant Netflix Inc (NFLX.O) on Tuesday reported losing subscribers for the first time in more than a decade and predicted more contraction in the second quarter, a rare miss for a company that has been a reliable growth engine for investors. The company’s stock plunged 23% in after-market trading, … Read more

Lockheed quarterly profit falls 5.7% on supply chain snags

FILE PHOTO: A RAF Lockheed Martin F-35B fighter jet taxis along a runway after landing at the Royal International Air Tattoo at Fairford, Britain July 8, 2016. REUTERS/Peter Nicholls/File Photo/File Photo Register now for FREE unlimited access to Reuters.com Register April 19 (Reuters) – US weapons maker Lockheed Martin Corp (LMT.N) on Tuesday said its … Read more

Inflation and rate hikes ahead: Bankers cautious on the economy

Charles Scharf, CEO, Wells Fargo speaks at the 2021 Milken Institute Global Conference in Beverly Hills, California, US October 18, 2021. REUTERS/David Swanson/File Photo Register now for FREE unlimited access to Reuters.com Register NEW YORK, April 14 (Reuters) – Wall Street’s major banks and asset managers were cautious about the economy as they detailed how … Read more