Huawei reported net profit for 2022 totaling 35.6 billion yuan ($5.18 billion), down 69% year-on-year. That’s the largest annual decline since 2011, according to CNBC calculations. Huawei blamed rising commodity prices, China’s strict pandemic controls last year and a one-time gain related to the sale of Honor last year as reasons for the profit drop. … Read more
Bed bath & beyond Inc. said it will try to sell up to $300 million of common stock on the open market while terminating a fundraising deal with hedge fund Hudson Bay Capital Management LP in the troubled home goods retailer’s latest effort to to avert bankruptcy. The Union, NJ-based company broke its deal with … Read more
Bed Bath & Beyond said Thursday it is offering $300 million in stock as the company warns again it may need to file for bankruptcy protection. The troubled retailer is looking for buyers to stave off a bankruptcy filing. In February, Bed Bath & Beyond proposed a stock offering that would bring $1 billion into … Read more
AMC shares rose Tuesday amid rumors Amazon could bid for the movie theater chain, and was poised for more gains on Wednesday. Exuberance – this is a “meme stock” after all – is understandable, but investors need to see what Amazon stock is doing. That is to say: very little. Amazon (ticker: AMZN) lost 0.8% … Read more
AMC shares rose Tuesday amid rumors Amazon could bid for the movie theater chain, and was poised for more gains on Wednesday. Exuberance – this is a “meme stock” after all – is understandable, but investors need to see what Amazon stock is doing. That is to say: very little. Amazon (ticker: AMZN) lost 0.8% … Read more
Shares of Micron Technology were slightly higher at the end of trading on Tuesday after the memory chip company posted financial results for its fiscal second quarter, which ended March 2, that were roughly in line with expectations as a weak market for PCs and smartphones continued to weigh on the company’s results. Micron also … Read more
Walgreens’ quarterly results beat Wall Street’s expectations, even as earnings fell. Hundreds of stores returned to regular pharmacy hours during the quarter, increasing prescriptions Walgreens’ growing healthcare division posted a revenue jump. A man walks near a Walgreens pharmacy in New York City on March 9, 2023. Leonardo Munoz | Corbis News | Getty Images … Read more
Ford Motor finally gave investors a glimpse into the electric vehicle start-up it was hatching into its 119-year-old self. While the stock’s decline suggests disappointment, there’s more to appreciate than the market is admitting. In 2022, Ford (ticker: F) announced that it was rebalancing itself and would henceforth report separate results for its traditional automotive … Read more