Tag: innovation

Automaker stocks fell Monday after President Trump's announcement of tariffs on goods from Canada and Mexico, with shares of GM, Ford, Toyota, and Honda closing down at least 2%.

Published on: February 04, 2025, 01:03 PM UTC

A potential tariff on Mexico and Canada would hit Japanese automaker Nissan hard, as the US is its top market and it sources 27% of its US sales from Mexico. Nissan is struggling financially and the tariff would wipe out its operating profit if it did not take action. Toyota and Honda are better prepared to handle the tariffs, but the move would still be a burden for them. Hyundai, which does not have any plants in Mexico or Canada, would not be hit as hard by the tariffs.

Published on: February 04, 2025, 01:00 PM UTC

Donald Trump's potential import taxes on vehicles and auto parts from Mexico and Canada have the auto industry on edge, as manufacturers scramble to assess the potential financial fallout and mitigate potential damage.

Published on: February 04, 2025, 12:09 PM UTC

Oaktree Specialty Lending Corp. reports Q1 profit of $7.2 million, in line with expectations. Revenue missed estimates with $86.6 million.

Published on: February 04, 2025, 12:07 PM UTC

Marathon Petroleum Corp. (MPC) reported fourth-quarter profit of $371 million, or $1.15 per share, beating Wall Street expectations of 6 cents per share.

Published on: February 04, 2025, 12:06 PM UTC

Estée Lauder plans to cut 5,800-7,000 jobs amid slumping sales in travel retail and China, as CEO Stéphane de La Faverie unveils turnaround plans to regain market share.

Published on: February 04, 2025, 12:05 PM UTC

Palantir stock surged over 18% premarket as upbeat annual revenue forecast fueled by strong demand for its AI-powered software solutions from businesses embracing generative AI technology.

Published on: February 04, 2025, 12:05 PM UTC

Alphabet and Meta report earnings this week as Wall Street watches for AI updates and ad market trends. Alphabet faces competition from DeepSeek's AI models, while Meta looks to build on strong Q4 results.

Published on: February 04, 2025, 12:03 PM UTC

Automaker stocks plunged after Trump imposed tariffs on Canadian and Mexican goods. GM, Ford, Toyota, Honda, and others saw losses, and experts warn of higher car prices for consumers. The tariffs also impact auto parts, with estimates suggesting a potential $3,000 increase in average US retail car prices.

Published on: February 04, 2025, 12:03 PM UTC

President Trump's new 10% tariffs on Chinese-made goods, including tech products like phones and computers, take effect today. The tech industry relies heavily on manufacturing in China and will likely pass the cost of the tariffs on to consumers, leading to higher prices. The tariffs will also impact chip stocks like Nvidia, AMD, and Intel, as the industry depends on manufacturing facilities in China.

Published on: February 04, 2025, 12:02 PM UTC