Ford Motor has finally given investors a glimpse of the electric vehicle startup it was incubating inside its 119-year-old self. Although the stock’s decline suggests disappointment, there is more to love than the market is giving it credit for. In 2022, Ford (ticker: F) announced that it was reorganizing and would now report separate results … Read more
Some of the world’s largest internet companies may have strong balance sheets, but their employees couldn’t avoid layoffs. From Microsoft to SAP, tech companies around the world have laid off thousands of employees since the start of the year. Tech companies that have laid off staff have spoken of slowing growth and that they are … Read more
The badge of a Ford Motor Co. E-Transit electric vehicle during a presentation in Washington, DC, U.S., Wednesday, July 28, 2021. Al-Draco | Bloomberg | Getty Images Ford Motor said Thursday that its electric vehicle business lost $2.1 billion last year on an operating basis, a loss that was more than offset by $10 billion … Read more
Nvidia Corp. is in a unique position to benefit from what is being called an artificial intelligence revolution, analysts say, as the chipmaker’s stock hit its best winning streak since 2007 on Wednesday. At Nvidia NVDA annual GTC developer conference, the gaming chip specialist has rolled out a slew of hardware and software products designed … Read more
Shares of GameStop Corp. jumped 48% in Tuesday’s extended session after the specialty retailer reported a surprise quarterly profit and sales above Wall Street expectations. The retailer is “aggressively focused on improving year-over-year profitability while pursuing pragmatic long-term growth,” Chief Executive Matt Furlong said on the company’s call after the results. GameStop EMG earned $48.2 … Read more
Saudi Arabia’s national oil company posted a record $161 billion annual profit for 2022, the largest ever by an energy company, bolstering the kingdom’s coffers as it seeks to showcase its trade and foreign policy ambitions global markets and to limit its heavy dependence on oil. Saudi oil Co. 2222 1.23% known as Aramco, said … Read more
Aramco logo displayed on a smartphone screen. Sopa Pictures | Light flare | Getty Images Saudi state-controlled oil giant Aramco reported record net profit of $161.1 billion for 2022 on Sunday, the biggest annual profit ever by an oil and gas company. Aramco said net income rose 46.5% on the year, from $110 billion in … Read more