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Toyota Announces Bullish Earnings, Plans for China EV Unit and US Battery Plant

Toyota stock surges on upbeat guidance, EV unit plans, and China expansion. Quarterly revenue up 2.9% to $80.95 billion, net profit jumps 62%. Full-year profit forecast raised, with plans for a wholly-owned EV unit in Shanghai and expanded US battery production.

Hubbell Q4 Earnings Top Estimates, Revenue Misses

Hubbell Inc. (HUBB) reported Q4 earnings of $197 million, or $3.64 per share, topping analysts' expectations of $4.02 per share. Revenue of $1.33 billion missed estimates of $1.4 billion. For the year, Hubbell reported earnings of $777.8 million, or $14.37 per share, on revenue of $5.63 billion. The company expects full-year earnings in the range of $17.35 to $17.85 per share.

Tax Season 2024: New Direct File Enhancements and 1099-K Reporting Rules

IRS tax season officially kicks off today, and while there are no major code changes, there are a few key updates to be aware of, including the expansion of the Direct File program, new reporting rules for gig workers and small business owners, and an increase in the standard deduction.