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BASF raises 2022 revenue forecast, but flags lower gas supply risks

July 27, 2022 10:21 am
BASF (BASFn) on Wednesday revised up its full-year revenue forecast, as it still passed on higher raw material and energy prices to clients. The company now expects full-year sales within the range of EUR 86 billion to EUR 89 billion, compared with a prior forecast of EUR 74 billion to EUR 77 billion. “Current developments, […] Read more

McDonald’s shares hit a three-month high on Tuesday, second-quarter comparable sales top estimates on stable fast-food demand, new offerings

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 more

Verizon shares hit a five-year low on Friday, high inflation, plan pricing take a toll on second-quarter subscriber growth

July 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 more

Honda to slash Japan production by up to 30% due to continuing supply issues

July 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 more

Volvo Cars expects flat or lower full-year retail sales

July 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 more

NXP Semiconductors ties up with Foxconn on new generation vehicle platforms

July 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 […] Read more

Delta Air shares close higher on Tuesday, company to purchase 12 Airbus A220 jets

July 20, 2022 7:27 am
Delta Air Lines (DAL) said on Tuesday it would purchase 12 new A220-300 aircraft from Europe’s Airbus. “These additional aircraft in the A220 family are an excellent investment for our customers and employees and will be fundamental as we work toward a more sustainable future for air travel,” Mahendra Nair, Delta Air’s senior vice president, […] Read more