AMD CEO Lisa Su used a CES keynote address on Wednesday to unveil the Radeon VII, a new high-end gaming chip that will rely on an advanced 7-nanometer (7nm) manufacturing process, and also shared details about 7nm desktop and server CPUs that will be arriving later this year.READ MORE...
Target saw a surge of shoppers head to its stores and website during the 2018 holiday season, a sign that its investments in store remodels and delivery services are paying off, and an early sign that consumers across the U.S. spent more on gifts this year.READ MORE...
Kohl’s Corp. shares plunged -7.2% on Thursday, after the retail chain reported weaker sales growth for the holiday season compared to last year.
Kohl’s same-store sales for the November-to-December holiday period increased +1.2%, less than the year-ago period’s nearly +7%.
However, Michelle Gass, Kohl's CEO, seemed more optimistic.Gass said in a statement, "We are delighted with our 1.2% shifted comparable sales increase for the holiday period, which builds on the positive momentum we have achieved throughout the year".
Pfizer had acquired the sites as part of its $15 billion purchase of Hospira Inc. in 2015.
The factories, which produce generic injectables like penicillin, employs around 1,700 workers in the states of Tamil Nadu and Maharashtra.These plants do not make products for the India market.
Additionally, Pfizer is shuttering a Hospira research and development lab in the Indian city Chennai, but spokesman Steven Danehy said that that was unrelated to the shutdown of the aforementioned two plants.
Pfizer also mentioned that it is expanding operations in its Visakhapatnam facility in south India.
Earnings are expected to come in around $4 a share, below the prior projection of as much as $4.30.
According to the retail chain, the major factors behind the downward revisions include under-performance in categories such as women’s sportswear, fashion jewelry and cosmetics, along with challenges in fulfilling orders following a fire at its West Virginia distribution center.Although the holiday season began on a high note, there was a drag during the mid-December period, as indicated by Macy’s CEO Jeff Gennette.
The news led to its shares dropping by as much as -18 percent on Thursday, marking the sharpest intraday decline since October 2008.
Twitter Inc. shares traded higher Thursday after a so-called double upgrade for the microblogging website from Bank of America Merrill Lynch.
BAML analyst Justin Post upped his rating on the stock two notches, to "buy" from "underperform", with a price target of $39 per share, firmly ahead of the Street consensus of $33.11.The change followed a price target reduction from analysts at Cowen & Co., who lowered their estimate by $2 to $25 a share, and from JPMorgan, which trimmed theirs by $1 to $45 a share.
Analysts have found a new drinking buddy in Constellation Brands (STZ) after Wednesday's selloff made the stock more attractive to slide up to.READ MORE...
On Thursday, American Airlines Group Inc. lowered its estimate for a key revenue metric for the fourth quarter.
It is now expecting its unit revenue – which compares sales to flight capacity - to have grown about 1.5% in the quarter, compared with its earlier estimate of 1.5 - 3.5% increase.
The airline also cut its full-year earnings per share estimate to a range of $4.40 to $4.60, from $4.50 to $5 earlier.Analysts were expecting earnings of $4.62 per share, according to IBES data from Refinitiv.
The news sent American Airlines shares tumbling -7 percent in pre-market trading.
The amount was disclosed by a person familiar with the details, according to CNN. The settlement does not include any admission of wrongdoing by the automaker, though.
According to the source, fines of about $305 million would be split among the US Justice Department, the Environmental Protection Agency and the California Air Resources Board.Fiat Chrysler will make payments of up to $2,800 per vehicle to the owners of 100,000 diesel-powered Jeep SUVs and Ram pickup.
Two years ago, regulators accused that Fiat Chrysler had installed software on 100,000 diesel-powered cars and trucks as a way to cheat on diesel emissions tests.
Ford Motor is slashing thousands of jobs in Europe, as the carmaker embarks on closing a plant and terminating production of some unprofitable models in the continent – as part of a restructuring plan.In July, the company had indicated its intent to spend $11 billion over the next three to five years towards shuffling its global business.
In its announcement on Thursday, Ford mentioned that it will be ending production of the C-Max compact car in Germany, and that it wants to shutter a transmissions plant in France.
Entergy Corp. (NYSE: ETR) is an electric utility company that provides electricity to customers in Arkansas, Louisiana, Mississippi, and Texas.The company serves 2.9 million customers in the region.
Entergy has been trending higher essentially since the beginning of 2014.
State Street Corp. is curing 15% of its senior management, according to a report in Bloomberg. Those affected include executive vice-presidents and senior VPs.
Ronald O’Hanley, who took over this month as CEO of the money-management and custody-banking giant, wants to reduce expenses, automate more functions and simplify the organizational structure.State Street needs to “structurally compress” upper management, he was reported as saying last month at a Goldman Sachs U.S. Financial Services Conference in New York.
Shares of Chesapeake Energy surged nearly 10% last Wednesday after the oil and gas company reported strong production outlook for the fourth-quarter.
CHK’s revised strategy to focus on oil production and to move away from gas finally paid off, after the Oklahoma-based oil producer said that it expects the total production to hover somewhere in-between 462,000 and 464,000 barrels of oil equivalent (BOE) per day for the December ending fourth-quarter.FactSet consensus expected the production to touch 448,000 BOE per day.
CHK further added that it expects oil production to range between 86,000 to 87,000 barrels (bbls) of oil per day, compared to FactSet consensus of 85,200 bbls per day.
The Nikkei Asian Review on Wednesday confirmed that Apple is ready to slash its new iPhone production by about 10% over the next three months.
According to Nikkei, the tech giant has already intimated its suppliers in December to produce fewer new iPhones than what was initially planned for first quarter of 2019.
This would entail a reduction from the overall planned production volume for new and old iPhones to about 40 million to 43 million units for the March quarter — down from an earlier prediction of 47 million to 48 million units.
This would be the second time in two months that Apple is trimming its smartphone production.The new revised plan would apply to all new iPhone models — the XS Max, XS and XR.
Apple, including its rivals like Samsung, is now finding itself in a highly competitive market where growth is falling.
Wall street analyst, William Crow, recently downgraded Hyatt from outperform to market perform and removed its $80 price target.His rationale was that a challenging economic backdrop is expected to hurt the prospects of Hilton Hotels most, resulting in a substantial slowdown in the company’s asset sales in 2019.
Hyatt’s attractive stock valuation remains comparable with Hilton Hotels Corporation and Marriott International Inc.
Its shares dropped more than -10% Wednesday, following the announcement.
The beverage maker said that net income for its fiscal quarter ending November 30, decreased around -38% to $303.1 million (or $1.56 a share) - from $492.8 million (or $2.45 a share) a year earlier.Constellation’s operating margin in the period decreased 60 basis points to 37.3%.
The company made a downward revision to its fiscal 2019 profit outlook to a range of $9.20 to $9.30 a share, compared to prior forecast of $9.60 to $9.75 a share.
However, sales were a bright spot.
USDCAD pair is trading in red for sixth consecutive trading session today underpinned by increased risk on trading activity in global markets and bounce in crude oil price.The pair hit fresh one month lows today as Loonie gained momentum owing to crude oil price breaching $50 per barrel. READ MORE...
Adding 1 million customers in the fourth quarter, T-Mobile US Inc. exceeded Wall Street expectations on net new phone subscribers who pay a monthly bill.Analysts estimated the number to be 857,900, according to research firm FactSet.
The percentage of subscribers who leave a service provider was 0.99 percent for the mobile carrier in the fourth quarter, down from 1.02 percent in the quarter ended September 30.
Even in the third quarter, T-Mobile’s net new phone subscribers (along with its profit) had edged past analysts' estimates,on the back of its competitive wireless plans and trade-in offers for iPhones.
AT&T is preparing for yet another significant round of layoffs according to internal documents obtained by Motherboard.The staff reductions come despite billions in tax breaks and regulatory favors AT&T promised would dramatically boost both investment and job creation.
The Justice Department has said in a court filing that a partial government shutdown could delay its response to comments on pharmacy chain CVS Health Corp’s (CVS.N) purchase of health insurer Aetna, a necessary step in a court giving final approval to the deal.READ MORE...