Ford cuts full-year profit outlook as third-quarter profit dips
Ford Motor Co on Wednesday cut its forecast for operating profit for the year after a disappointing third quarter that Chief Executive Jim Hackett blamed on higher warranty costs, bigger discounts and weaker than expected performance in China.
Huawei exposure roils Xilinx’s revenue forecast
Xilinx Inc on Wednesday forecast current-quarter and full-year revenue below Wall Street estimates, the second major chipmaker this week to flag the impact of a prolonged U.S.-China trade dispute on its business.
EBay forecasts holiday-quarter revenue below estimates, shares fall 3%
EBay Inc forecast current-quarter revenue below Wall Street estimates on Wednesday, as it faces fierce competition from bigger rivals Amazon.com and Walmart Inc in the run-up to the crucial holiday shopping season.
Slower growth in Microsoft cloud business casts shadow over results
Microsoft Corp’s Azure cloud services grew more slowly in its first quarter even as profit and revenue beat estimates, the company said on Wednesday, a sign that competition is picking up in its fastest-growing business.
PayPal tops Wall Street estimates on higher customer traffic, shares rally
PayPal Holdings Inc reported a better-than-expected quarterly profit on Wednesday as more people used its payment processing platform to make transactions and forecast full-year adjusted profit above Wall Street estimates.
Ford’s third-quarter profit falls, full-year profit outlook cut
Ford Motor Co on Wednesday posted a lower quarterly profit as it took charges for its global restructuring, and reduced its full-year operating profit forecast due to higher warranty and incentive costs, as well as lower-than-expected sales in China.
Tesla surprises with quarterly profit on record deliveries, shares up 21%
Tesla Inc on Wednesday surprised investors by posting a profitable third quarter, boosted by record deliveries, cost cuts and improved production schedules for its new electric vehicle model, causing shares to soar in after-market trading.
Forecast points to deepening Illinois budget deficit
Illinois’ budget deficit will top $3 billion and its pile of overdue bills will hit a new record high by fiscal 2025 if the state’s “unsustainable” tax structure remains in place, according to a five-year forecast released on Wednesday by the governor’…
Johnson & Johnson says proposed opioid settlement to lower reported third-quarter profit by $3 billion
Johnson & Johnson on Wednesday lowered its previously reported profit for the third quarter to $1.8 billion from $4.8 billion to account for a proposed opioid settlement payment.
Spirit Airlines commits to 100 Airbus jets amid tariff dispute
U.S. budget carrier Spirit Airlines on Wednesday unveiled a provisional deal to order 100 Airbus A320neo-family jets to be delivered through 2027, becoming the first U.S. airline to pick European planes since Washington imposed tariffs on them.
