Photo: Rivian EV maker Rivian is losing money like it is going out of style, there’s relatively little inventory left on dealer lots, and Mazda. All that and more on this glorious Friday edition of The Morning Shift for August 12, 2022. 1st Gear: Rivian Lost Nearly $2 Billion In A Few Months Electric truck … Read more
Text size Walmart is one of several retailers that have yet to report second-quarter earnings. The company has already warned about the impact of inflation on its results.. Justin Sullivan/Getty Images Earnings season has been far from perfect, but it’s been just strong enough to keep stocks rallying. For starters, companies have beaten profit expectations. … Read more
Text size After the newest inflation numbers, bullish traders hope the Fed won’t have to raise rates as aggressively as previously feared. Courtesy NYSE US stock futures were mixed Wednesday evening after July’s consumer price index showed that inflation eased last month, propelling the tech-heavy Nasdaq Composite into bull-market territory earlier in the day. Prices … Read more
For those who want a taste of the great outdoors without totally leaving indoor amenities behind, a new business is providing campers with a more comfortable and unique experience. BaseCamp Glamping LLC aims to introduce people to a more glamorous side of camping by supplying things like movie setups, telescopes, cornhole and s’mores kits. It … Read more
Text size GE wants to be a player in the electricity grid of the future. That will benefit its coming Vernova business. Brandon Bell/Getty Images NISKAYUNA, N. Y–In General Electric ‘s sprawling research center here, you will find two Nobel Prizes won by GE scientists, Thomas Edison’s desk, and current research that could help create … Read more
Press play to listen to this article With tensions flaring in East Asia, China’s sanctions against Taiwan are a stark reminder to the European Union how dependent it is on the island, and in particular the tiny computer chips it makes. China banned some trade with Taiwan in response to US House Speaker Nancy Pelosi’s … Read more
Image: Blizzard Nearly two months after Activision Blizzard CEO Bobby Kotick announced the company would finally begin bargaining its first union contract with the Game Workers Alliance at Raven Softwarestaff at Blizzard Albany, currently working on Diablo IV, say the publisher is back to trying to union-bust. They accuse Activision Blizzard of rehiring the law … Read more
Text size Occidental stock has doubled this year and is the top performer in the S&P 500, Callaghan O’Hare/Bloomberg Warren Buffett probably liked Occidental Petroleum ‘s second-quarter earnings report. Occidental Petroleum (Ticker OXY), in which Buffett’s Berkshire Hathaway (BRK/A, BRK/B) is the largest shareholder, topped profit estimates, paid down nearly $5 billion in debt and … Read more
It’s the peak stretch of second-quarter earnings season, with roughly 150 S&P 500 firms scheduled to report this week. The highlights on the economic calendar will be a pair of purchasing managers’ index readings and jobs Friday. Wednesday’s earnings highlights will be Booking Holdings , CVS Health , eBay , spirit Modern . Thursday will … Read more
It’s the peak stretch of second-quarter earnings season, with roughly 150 S&P 500 firms scheduled to report this week. The highlights on the economic calendar will be a pair of purchasing managers’ index readings and jobs Friday. Wednesday’s earnings highlights will be Booking Holdings , CVS Health , eBay , spirit Modern . Thursday will … Read more