Tesla shares, bonds under pressure as Musk changes tune on profit
Shares of Tesla Inc sank 14% on Thursday and its bonds traded lower, a day after the electric carmaker said it needed more time to turn a profit, reported lower margins and announced the departure of a key executive.
No timeline for Boeing 737 MAX return to service: FAA official
The U.S. Federal Aviation Administration distanced itself on Thursday from suggestions by Boeing that its grounded 737 MAX could resume flying passengers in October, saying regulators do not have a timeline for vetting safety upgrades.
Dow cuts 2019 spending forecast on U.S-China trade tensions
Dow Inc forecast current-quarter revenue below analysts’ expectations on Thursday and cut 2019 spending as chemical companies grapple with U.S.-China trade dispute and an oversupply of chemicals used to make plastics.
U.S. business investment stabilizing, economy slowing
New orders for key U.S.-made capital goods surged in June, suggesting some improvement in business investment, but economic growth is still expected to have slowed sharply in the second quarter amid weaker exports and a smaller inventory build.
Wall St. declines on weak earnings reports; ECB disappoints
U.S. stocks slipped on Thursday after a handful of disappointing earnings pointed to a slowing global economy and as European Central Bank signaled monetary policy easing in the future, underwhelming investors who had expected more.
Boeing 737 MAX groundings plague U.S. airlines; Southwest exits Newark
American Airlines Group Inc and Southwest Airlines Co warned on Thursday of an increasing financial toll from the prolonged Boeing 737 MAX grounding this year even as strong bookings and higher fares helped drive quarterly revenue growth.
Hershey’s tepid annual forecast overshadows quarterly profit beat
Hershey Co reported a better-than-expected quarterly profit on Thursday, but forecast 2019 earnings below Wall Street expectations as the chocolate maker expects the benefits from recent price increases to be pushed out to next year.
California, four automakers defy Trump, agree to tighten emissions rules
Four major automakers said on Thursday they have reached an agreement with California on fuel efficiency rules, bypassing a Trump administration effort to strip the state of the right to fight climate change by setting its own standards.
Wall Street slides, bond yields rise on mixed earnings, ECB statement
U.S. stocks stumbled out of the starting gate and bond yields gained ground following mixed earnings and a rosier-than-expected statement from the European Central Bank’s governor.
China auto group cuts 2019 sales forecast to a 5% drop
China’s biggest auto industry association has cut its sales forecast for this year due to slowing economic growth, and now expects sales to fall for the second year running.
