manufacturing
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)
Toyota recently issued a recall for about 280,000 vehicles in the US. This was primarily due to a transmission issue which could potentially cause cars to keep moving forwards even when in neutral. The move mainly concerns 2023 and 2024 Toyota Sequoia SUVs, as well as certain Lexus LX 600 SUVs and Toyota Tundra pickups. The owners of the vehicles involved will receive notification of the recall by the end of April this year. According to the company, some parts of the transmission in these models are not instantly disengaging when the vehicles go into neutral gear. This means that engine power...
Euronews (English)
Two of Europe’s largest car makers Stellantis and Mercedes-Benz have raised about €4.4 billion to set up three new electric vehicle (EV) gigafactories across the European Union (EU) in the coming years. The companies said in a press release on Monday that the total funds needed for these factories is expected to be about €7 billion. Factories will be set up in Kaiserslautern in Germany, Termoli in Italy and another undisclosed location in France. Around 6,000 people are expected to be employed in total. BNP Paribas, ING, Deutsche Bank and Intesa Sanpaolo are among the banks that have financed ...
Euronews (English)
Emirates is planning to send engineers to monitor Boeing's production lines, Sir Tim Clark, the airline's president has revealed. The decision comes after a major incident on one of Boeing's 737 MAX 9 planes last month, when a cabin panel blew out during an Alaska Airlines flight. He had seen a "progressive decline" in Boeing's performance, the Emirates boss told the Financial Times. "They have got to instil this safety culture which is second to none. They've got to get their manufacturing processes under review so there are no corners cut," he added. "I’m sure Dave Calhoun and Stan Deal are ...
Euronews (English)
Washington (AFP) - Activity in the US manufacturing sector shrank for a third straight month in January, hovering at the lowest levels since May 2020 as new orders and production slumped, according to survey data released Wednesday. The gloomy figure comes as demand softens on the back of the central bank's rapid interest rate hikes. The Institute for Supply Management's (ISM) manufacturing index slipped one percentage point to 47.4 percent in January, from 48.4 percent in December. This was a touch below analyst expectations and also lower than the 50 percent threshold indicating growth in th...
AFP
Washington (AFP) - US manufacturing activity contracted for a second month in December, remaining at the lowest levels since May 2020 as new orders and production slipped, survey data showed Wednesday. The world's biggest economy has been squeezed by decades-high inflation, prompting the central bank to raise interest rates multiple times in an all-out campaign to ease demand and rein in cost increases. While the domestic economy has largely held up, there are growing signs the Federal Reserve's policy moves are rippling through sectors -- adding to broader factors like slowing global activity...
AFP
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