In an aerial view, a sign is posted on the exterior of a Carvana car vending machine on in Daly City, California, on July 19, 2023. Justin Sullivan | Getty Images Shares of Carvana jumped as much as 14% during after-hours trading Wednesday as the company topped Wall Street’s expectations for the second quarter and … Read more
New Jeep vehicles sit on a Dodge Chrysler-Jeep Ram dealership’s lot on October 03, 2023 in Miami, Florida. Joe Raedle | Getty Images News | Getty Images DETROIT – The last time shares of Ford Motor dropped by more than 18% in a day, as they did last week, the U.S. automotive industry was on … Read more
DETROIT — General Motors is raising several key financial targets for 2024 after easily beating Wall Street’s earnings expectations for the second quarter, while it restructures money-losing operations such as autonomous vehicles and its China business. The Detroit automaker now expects full-year adjusted earnings before interest and taxes of between $13 billion and $15 billion, … Read more
American Airlines CEO on Thursday vowed to be “diligent” in making sure capacity doesn’t outgrow demand after the carrier slashed its profit forecast for the year after a backfired sales strategy and an industrywide glut of flights that have forced airlines to discount seats. American said it expects to earn an adjusted 70 cents to … Read more
The Ford display at the New York International Auto Show on March 28, 2024. Danielle DeVries | CNBC DETROIT — Ford Motor is set to report second-quarter earnings after the markets close Wednesday. The Detroit automaker’s results are expected to be relatively healthy, although down from the second quarter of 2023 and not as strong … Read more
General Motors CEO Mary Barra, center, at the New York Stock Exchange, Nov. 17, 2022. Source: NYSE DETROIT — Wall Street expects General Motors to be the standout among the traditional Detroit automakers when they report second-quarter results this week, with sales and vehicle prices stable during the first half of the year for America’s … Read more
Pedestrians walk past a Burberry Group Plc store, left, in the Causeway Bay shopping district of Hong Kong. Xaume Olleros | Bloomberg | Getty Images Shares in Burberry plunged over 15% in early trading on Monday after a disappointing first-quarter performance led it to issue a profit warning, replace its CEO and axe its dividend. … Read more
ATLANTA, June 20, 2024 /PRNewswire/ — Delta Air Lines’ (NYSE:DAL) Board of Directors today declared a quarterly dividend of $0.15 per share, an increase of 50% over previous levels. The dividend is payable to shareholders of record as of the close of business on July 30, 2024, and will be paid on August 20, 2024. … Read more
General Motors approved yet another stock buyback — adding to our frustration that portfolio name Ford has yet to embark on a repurchase program of its own. GM on Tuesday announced a new $6 billion buyback — weeks before its November $10 billion repurchase authorization is set to be completed. “I’m very upset with Ford,” … Read more
Ark Invest CEO Cathie Wood shot to fame when all the exchange-traded funds (ETFs) managed by her investment management firm jumped by over 100% each in 2020 compared to the S&P 500’s mere 16% returns. Wood is known for her singular investing approach and bets on disruptive, high-growth firms, including generative AI, genome development, autonomous … Read more
