A pedestrian walks by a parked FedEx delivery truck on March 21, 2024 in San Francisco, California.Justin Sullivan | Getty ImagesFedEx shares soared more than 15% after hours Tuesday after the company reported results that topped analysts' estimates in both earnings and revenue.Here's how the company did in its...
Workers assemble second-generation R1 vehicles at electric automaker Rivian's manufacturing facility in Normal, Illinois, on June 21, 2024.Joel Angel Juarez | ReutersVolkswagen plans to invest up to $5 billion in electric vehicle startup Rivian, starting with an initial investment of $1 billion.The additional $4 billion is expected by 2026....
DETROIT – General Motors' Cruise autonomous vehicle unit on Tuesday announced former Amazon and Microsoft executive Marc Whitten as its new CEO.Whitten was a founding engineer at Microsoft's Xbox before leaving the company after more than 17 years to become chief product officer of audio company Sonos in 2014,...
<p><em>Subscribers to <a href="https://store.schaeffersresearch.com/products-services/free-tools-services/schaeffers-chart-of-the-week?code=COTWLINK&_ga=2.59170029.1174022078.1632689704-1565374935.1594232752" target="_blank"><strong>Chart of the Week</strong></a> received this commentary on Sunday, June 23.</em></p> <p>On June 19, California-based electric vehicle (EV) startup Fisker (FSR) filed for Chapter 11 bankruptcy. The company had been left for dead since February, when an earnings report disclosed serious manufacturing issues and cashflow problems. FSR traded...
The housing market is unlikely to recover for several years and affordability won't get any better unless a recession hits, according to Bank of America economists. In a mostly pessimistic outlook on the sector, the bank sees a variety of factors lining up against both a major improvement in...
Cars sit on a Chevrolet dealership's lot on June 20, 2024 in Chicago, Illinois. A cyber attack on CDK Global, a software provider that helps dealerships manage sales and service, has crippled the workflow at approximately 15,000 dealerships across the United States and Canada. Scott Olson | Getty ImagesDETROIT –...
Check out the companies making headlines in midday trading: SolarEdge Technologies — Shares of the company tumbled more than 20% following the announcement that it will offer $300 million worth of convertible notes due 2029. The company also revealed in a U.S. Securities and Exchange Commission filing on Monday...
Home prices set another record high in April, even as mortgage rates rose and the supply of homes for sale increased. Usually, under those circumstances, prices would weaken, but today's housing market is unlike any other in recent history.Prices in April rose 6.3% compared with April 2023, according to...