Trade, inventories power U.S. economy to 3.2 percent growth in first quarter
U.S. economic growth accelerated in the first quarter, but the burst in growth was driven by a smaller trade deficit and the largest accumulation of unsold merchandise since 2015, temporary factors that are likely to reverse in the coming quarters.
ADM considers ethanol spinoff as first-quarter profit falls on severe weather
Archer Daniels Midland Co said on Friday it was considering spinning off its ethanol business after slim biofuel margins and Midwestern floods slammed the U.S. grains merchant’s profit, which tumbled 41% in the first quarter.
U.S. April auto sales seen falling as higher prices keep away young buyers: J.D. Power, LMC Automotive
U.S. auto sales are expected to drop about 3.5 percent in April from a year-ago period, as rising prices and reduced incentives pinch buyers at the lower end of the spectrum, according to industry consultants J.D. Power and LMC Automotive.
Uber sets terms for IPO, posts $1 billion first-quarter loss
Ride-hailing company Uber Technologies Inc is aiming for a valuation of up to $91.5 billion in its initial public offering, potentially the largest U.S. listing in years and a test of investor appetite for a high-growth but highly unprofitable business…
American Airlines to take $350 million hit from 737 MAX groundings, shares fall
American Airlines Group Inc cut its 2019 profit forecast on Friday, saying it expected to take a $350 million hit from the grounding of Boeing’s 737 MAX planes, a situation that cuts revenue while many costs remain in place.
Activist investor Bramson may get bloody nose at Barclays AGM
Activist investor Edward Bramson is likely to fail in his attempt to get a board seat at Barclays’ annual meeting next week, even though shareholders are dissatisfied with performance of the group’s investment bank.
Chevron posts 27 percent fall in quarterly profit
U.S. oil and natural gas producer Chevron Corp reported a 27 percent fall in quarterly earnings on Friday, hit by lower crude prices and weaker margins in its refining and chemicals businesses.
DoJ opens probe into Ford’s emissions certification process
Ford Motor Co said on Friday the U.S. Department of Justice had opened a criminal investigation into the automaker’s emissions certification process in the United States.
Stock futures turn positive after upbeat U.S. GDP data
U.S. stock index futures turned positive on Friday after data showed that U.S. economic growth accelerated in the first quarter, driven by trade and the largest accumulation of unsold goods since 2015.
Exxon Mobil misses first-quarter top and bottom line estimates, shares fall
Exxon Mobil Corp on Friday reported first-quarter profit fell sharply on lower oil and gas prices and weakness in its refining and chemicals businesses that offset modest production gains.
