American farmers welcomed China’s pledge to purchase at least 25 million metric tons of U.S. soybeans annually for the next three years, plus 12 million between now and January, but warned the move won’t fix rising costs for fertilizer, machinery and seed. Agriculture Secretary Brooke Rollins said China will drop...
Stocks slid Thursday as Meta plunged about 12% and Microsoft fell more than 3% despite solid results and higher spending plans. Jim Cramer called Meta’s drop a buy and the CNBC Investing Club lifted both Meta and Microsoft to its top 1 rating. He applauded the Federal Reserve’s quarter-point cut...
Meta shares sank more than 12% at Thursday’s open, putting the company on track for its steepest single-day slump in years after a nearly $16 billion tax charge knocked quarterly earnings below Wall Street forecasts. Microsoft fell 2.2% to about $529.40 despite beating estimates, weighed by a $3.1 billion OpenAI-related...
Fifty years after William J. Brink penned the New York Daily News headline Ford to City: Drop Dead, its blunt force lingers. The line keeps resurfacing, from Montana’s Char-Koosta News to the New York Post, and in Trump-era politics. Ford never said the words, but acknowledged the headline, underscoring his...
Eli Lilly posted third-quarter results that topped expectations and raised its outlook, sending shares up 5% premarket. Adjusted EPS reached $7.02 on revenue of $17.60 billion, beating estimates. The company now targets fiscal 2025 revenue of $63–$63.5 billion and full-year adjusted profit of $23–$23.70 per share. Demand for GLP-1 drugs...
Stellantis warned of one-off charges in the second half as it navigates political, economic and regulatory pressures, yet reaffirmed guidance on improving revenue, cash flow and operating income. Third-quarter net revenues rose 13% to 37.2 billion euros, topping consensus, driven by North America and Europe. Shares fell as much as...
Starbucks posted a mixed fourth quarter: revenue rose 5.5% to $9.57 billion, topping forecasts, while adjusted EPS fell 35% to 52 cents, missing estimates. Global same-store sales grew 1%, beating expectations, with U.S. comps flat but turning positive in September and into October. In China, comps rose 2% on 9%...
General Motors laid off roughly 1,700 workers in Michigan and Ohio, including about 1,200 at Detroit’s EV plant and 550 at Ultium Cells in Ohio, with 850 additional temporary layoffs there. The company will also temporarily lay off 700 at Ultium Cells’ Tennessee site and pause battery cell production in...
Boeing delayed first 777X deliveries to 2027 and took nearly $5bn in charges, bringing program costs to about $15bn, including customer penalties. Shares slipped 1% premarket; an industry analyst said the charge topped expectations but wasn’t crippling as demand for widebodies grows. Separately, the FAA approved raising 737 Max production...
Paramount’s cuts reached CBS News on Wednesday, canceling the streaming editions of CBS Mornings and CBS Evening News, overhauling CBS Saturday Morning, and shuttering the Johannesburg bureau. Nearly 100 CBS News staffers are affected, part of about 1,000 layoffs across Paramount following Skydance’s acquisition of Paramount Global, with another 1,000...
