Manufacturing
Rivian Automotive Inc (NASDAQ: RIVN) is in focus today after it named Javier Varela is new chief operations officer. Who is Javier Varela?Varela will replace Frank Klein at the electric vehicles company who’s quitting after two years in that role. He has most recently served in a similar role at Volvo Cars. The 59-year-old executive expressed admiration for Rivian’s “commitment to pushing the industry forward with technologically advanced, highly innovative vehicles” in a press release on Friday. Note that Varela will assume the role of COO at the EV firm in August. The news arrives only days ...
Invezz
Shares of Xpeng Inc (NYSE: XPEV) are up 15% on Thursday after the EV maker reported a big increase in deliveries for the month of April. X9 success is helping Xpeng stock in 2024The electric vehicles company delivered a total of 9,393 vehicles last month – up a whopping 33% versus last year. Its monthly deliveries came in up 4.0% sequentially as well. In April, $XPEV delivered 1,959 units of X9 – the ultra smart seven-seater it launched in January. The New York listed firm has now delivered close to 10,000 units of that vehicle to date. X9 is the “top-selling all-electric MPV in China”. The ne...
Invezz
Manufacturing activities across the Eurozone decreased in April as the drop in demand caused prices to fall in factories again, pushing firms to reduce employment. Europe’s regional disparity in performanceCircumstances differ throughout the European region. France and Italy underperformed, while Spain expanded at the fastest rate in almost two years. Unlike France and Italy, Spain recorded a quick increase in activity. According to the newest Eurozone manufacturing Purchasing Managers’ Index reported by S&P Global and published by HCOB, manufacturing dropped to 45.7 in April after March’s 46....
Invezz
Peloton Interactive Inc (NASDAQ: PTON) is pushing to the upside this morning even though it came in shy of Street estimates for the third quarter. Why is Peloton stock up today?The price action is particularly interesting considering the connected fitness company failed to impress with its guidance as well. $PTON now forecasts its revenue to fall between $2.68 billion and $2.70 billion in the current quarter. Analysts, in comparison, were at $271 million. But the stock is up perhaps because of what CEO Barry McCarthy said in a letter to shareholders today: We are announcing a new restructuring...
Invezz
Qualcomm Inc (NASDAQ: QCOM) is trading up in extended trading after reporting market-beating financial results for its second quarter. Qualcomm stock gains on upbeat guidanceShares are pushing to the upside also because the chipmaker issued upbeat guidance for the future. $QCOM now forecasts its revenue to fall between $8.80 billion and $9.60 billion on up to $2.35 of adjusted EPS in Q3. Analysts, in comparison, were at $9.05 billion and $2.17 per share, respectively. Cristiano Amon – the chief executive of Qualcomm said in a press release today: We are excited about our continued growth and d...
Invezz
Leggett & Platt (NYSE: LEG) stock price plunged by more than 37% on Wednesday as the company lost its dividend king status. It crashed to a low of $11.5, its lowest level since October 11th. It has plunged by over 76% from its highest level in 2021. $10,000 invested in the company during its peak would be about $2,200 today. Dividend king stumblesLeggett & Platt, a leading manufacturer of bedding components, home and work furniture products, and floor underlayment solutions, has lost its dividend king status. The company, which has boosted its dividends for 52 years, announced that it would sl...
Invezz
A post-earnings dip in Advanced Micro Devices Inc (NASDAQ: AMD) is an opportunity to buy a quality name at a discount, says a Barclays analyst. AMD stock is well positioned after Q1 earningsShares of AMD are down some 7.0% at writing after the chipmaker issued in-line guidance for its current financial quarter. Still, Blayne Curtis reiterated his “overweight” rating on the semiconductor giant this morning that he continues to see as well positioned after its Q1 earnings report. In all, AMD remains one of the best positioned names in AI coupled with an improving core business. Note that AMD sto...
Invezz
Aston Martin Lagonda’s (LON: AML) share price collapsed to a low of 128p on Wednesday, its lowest level since November 2022. The stock crashed by over 65% from its highest point in 2023. It has lagged behind other UK companies now that the FTSE 100 index has soared to a record high. Aston Martin’s woes are continuingAston Martin, the biggest luxury vehicle company in the UK, is facing substantial challenges and it is unclear whether it will survive. The company published an extremely weak financial statement. Its wholesale volumes dropped by 26% in the first quarter to 945. Unit sales dropped ...
Invezz
Germany’s factory orders were up 0.2% in February, a monthly increase that fell short of experts’ forecasts. A Reuters poll of analysts had estimated an increase of 0.8%, whilst Bloomberg had predicted a jump of 0.7%. According to Germany's official statistics agency, this marginal uptick was driven by increased demand in the machinery and equipment sector (+10.7% on the previous month), and more orders within the chemical (+3.1%) and pharmaceutical (+6.6%) industries. Experts slash economic growth forecast for 'ailing' Germany February’s growth figure comes after a dramatic monthly fall of -1...
Euronews (English)
France's industrial production fell further than expected at the beginning of the year, as the country's economy struggles to return to full strength amid the cost of living crisis. Total production across industries slumped by 1.1% in January compared to the previous month, according to new figures from Insee, France's statistical office. This is after economists surveyed by Bloomberg and the Wall Street Journal had forecast a drop of just 0.1%, as reported by both news outlets. Bogof! No more 'Buy one, get one free': France forbids supermarket mega sales Slower-than-expected inflation declin...
Euronews (English)
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