Boeing raises profit and sales forecast; shares jump
Boeing shares jumped on Wednesday after the world’s largest planemaker reported stronger-than-expected quarterly profit and cash flow, helped by soaring demand from airlines and solid defense sales and services, and raised its 2018 sales and profit es…
Citron’s Tesla U-turn dealt short sellers a $1.11 billion loss
The sharp surge in Tesla Inc’s share price on Tuesday slammed short sellers of the stock with $1.11 billion in losses for the day on paper, pushing their performance for the year into the red, according to financial analytics firm S3 Partners.
Two Democrats say Google+ data exposure may violate FTC consent decree
Two U.S. senators said Alphabet Inc’s disclosure that private profile data of at least 500,000 users of Google+ may have been exposed to hundreds of external developers raises “serious questions” about whether the company violated a 2011 consent decre…
U.S. new home sales drop to near two-year low in September
Sales of new U.S. single-family homes fell to a near two-year low in September and data for the prior three months was revised lower, the latest indications that rising mortgage rates and higher prices were undercutting the housing market.
German court orders top VW investor to pay damages for disclosure violations
A German court on Wednesday ordered Porsche Automobil Holding SE to pay shareholders 47.2 million euros ($53.8 million) in compensation for violating disclosure rules over an emissions scandal at its main investment Volkswagen .
Boeing lifts Dow, but chipmakers pose headwind
The Dow Jones Industrial Average rose on Wednesday after Boeing raised its profit forecast, easing worries of slowing corporate profits, but a dim outlook from other China-reliant companies, including chipmakers, pressured the S&P 500 and Nasdaq.
Europe hit by steel import surge from U.S. tariffs: industry body
Steel imports into Europe have risen sharply as a result of U.S. tariffs, particularly from Turkey, threatening European steelmakers as demand growth in the continent slows, European steel association Eurofer said on Wednesday.
Tesla’s Shanghai factory to produce two models for first phase project: filing
Tesla Inc’s Shanghai Gigafactory is planning to produce two models in its first phase project, a Shanghai government filing showed on Wednesday.
Danske Bank whistleblower to testify before European parliament
The whistleblower who helped to reveal a major money laundering scandal at Denmark’s largest bank, Danske Bank , will testify before the European Parliament and the Danish Parliament at two events in November.
Chip stocks fall after Texas Instruments, STMicro warn on slowing demand
Semiconductor stocks slumped on Wednesday after Texas Instruments Inc and Franco-Italian chipmaker STMicroelectronics warned of slowing demand.
