July 27, 2022 7:18 am
McDonald’s Corp (MCD) on Tuesday reported better-than-expected comparable sales in the second quarter, as the company benefited from stable online demand, new offerings and higher prices of its products. McDonald’s international same-store sales surged 9.7% year-on-year during the second quarter, which exceeded a consensus of estimates pointing to a 6.5% growth, according to Refinitiv data. […]
Read moreJuly 26, 2022 11:41 am
Intel Corp (INTC) said on Monday that it would manufacture chips for Taiwan’s MediaTek Inc (2454), one of the leading chip design companies globally. This has been one of the most significant deals the tech giant announced since the launch of its foundry business early in 2021. “That’s a pretty big deal for us to […]
Read moreJuly 26, 2022 8:33 am
Having touched a two-week low last Friday, USD/JPY remained mostly flat in early European session on Tuesday, as markets awaited another interest rate hike from the Federal Reserve tomorrow. Futures data hints at a 75 basis point rate hike and a 10% risk of a 100 basis point move. Market players have also been trying […]
Read moreJuly 25, 2022 9:27 am
Having advanced to a two-week peak last week after the European Central Bank’s first rate hike since 2011, EUR/USD was again under pressure on Monday, as global recession concerns kept the safe haven US Dollar supported. Federal Reserve officials have indicated a 75 basis point rate hike at the central bank’s policy meeting this week, […]
Read moreJuly 25, 2022 6:48 am
Last Friday Verizon Communications Inc (VZ) revised down its full-year earnings forecast, as it gained fewer monthly phone subscribers than anticipated during the second quarter. The wireless carrier added just 12,000 net phone subscribers who pay a monthly bill, compared with a FactSet forecast of 150,800, as red-hot inflation in the US has made customers […]
Read moreJuly 22, 2022 10:41 am
Honda Motor Co Ltd (7267) said on Thursday it would reduce production by up to 30% in Japan in August, as supply chain and logistics-related issues persist. Two lines at Honda’s facility in Suzuka, western Japan, are expected to cut output by nearly 10% in July and by nearly 30% in early August versus original […]
Read moreJuly 22, 2022 7:05 am
AT&T Inc (T) on Thursday revised down its annual free cash flow forecast by $2 billion, as it continues expanding 5G and fiber internet availability. The company now forecasts full-year 2022 free cash flow of around $14 billion compared with $16 billion, as expected previously. AT&T’s total revenue of $29.6 billion was roughly in line […]
Read moreJuly 21, 2022 10:31 am
Sweden-based Volvo Car Group (VOLCARb) on Wednesday signaled a potential drop in retail sales for the full year, despite an increase in its second-quarter profit. The company said it projected full-year retail deliveries to be lower or to match those in 2021, while its wholesale volumes to increase. The auto maker said it was seeing […]
Read moreJuly 21, 2022 8:02 am
Futures on US West Texas Intermediate Crude Oil extended losses on Thursday as demand-related concerns overshadowed tight supply, with government data showing US gasoline stocks rising during the peak of the peak driving season. The official report by the US Energy Information Administration (EIA) showed on Wednesday gasoline inventories had increased by 3.498 million barrels […]
Read moreJuly 20, 2022 10:49 am
NXP Semiconductors said on Wednesday that it had signed a memorandum of understanding with Hon Hai Technology Group, the largest electronics manufacturer globally, to jointly develop platforms for the next generation of smart connected vehicles. Hon Hai Technology Group will leverage NXP’s portfolio of automotive technologies as well as its expertise in safety and security […]
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