A customer watches as Best Buy employees load his new television into his car during the state’s sales tax free weekend, beginning on Saturday. Erin Clark | Boston Globe | Getty Images BestBuy on Tuesday surpassed Wall Street’s expectations for quarterly earnings, as inflation-dented demand for pricey consumer electronics came in better than feared. The … Read more
I’ve been a shareholder of Algonquin Power & Utilities Corp. (AQN-T) for more than a decade, and it’s been a terrific investment until now. Thanks to a combination of organic growth and profitable acquisitions, the renewable power producer and utility operator has steadily increased its asset base, earnings and dividends, rewarding shareholders with double-digit total … Read more
Take a look at some of the biggest movers in the premarket: BioNTech (BNTX) – The drugmaker’s shares slide 3.4% in the premarket despite reporting better-than-expected quarterly profit and revenue. Results were down sharply from a year ago, with both profit and revenue off more than 40% from 2021’s third quarter. Berkshire Hathaway (BRK.b) – … Read more
Several days ago, President Biden made a media splash when he threatened oil companies with windfall taxes and “other restrictions” if they don’t stop returning cash to shareholders and start investing this cash in more oil production. The industry, via the American Petroleum Institute, responded with yet another reiteration of the fact that the oil … Read more
Despite a decline in refining margins in recent months, the biggest American refiners continue to post bumper profits, helped by cheaper sour crude grades and lower costs for natural gas in the United States compared to Europe. The top US refiners have reported in recent days slightly lower profits and refining margins for the third … Read more
A sign is posted in front of a Burger King restaurant on February 15, 2022 in Daly City, California. Justin Sullivan | Getty Images Restaurant Brands International on Thursday reported stronger sales at Burger King and Tim Hortons, joining the fast-food companies seeing a bump in sales as consumers look for more affordable options. The … Read more
British oil and gas supermajor BP Plc.(NYSE: BP) has announced plans to buy back $2.5 billion in shares after an impressive third quarter. BP delivered strong Q3 results that far exceeded market expectations, including adjusted net income of $8.15B that topped the $6.1B analyst consensus. The robust earnings are nearly 5 billion more than the … Read more
Advanced Micro Devices (AMD) CEO Lisa Su believes the chip designer’s blockbuster Xilinx acquisition has gone to plan since it closed in February, with more benefits awaiting on the horizon. Buying Xilinx helped AMD further diversify its business away from personal computers, significantly boosting the company’s ability to help power industries like aerospace, automotive and … Read more
Cristiano Amon, president and CEO of Qualcomm, speaks during the Milken Institute Global Conference on May 2, 2022, in Beverly Hills, Calif. Patrick T. Fallon | AFP | Getty Images Qualcomm shares fell 7% in extended trading on Wednesday after the chipmaker reported in-line fiscal fourth-quarter earnings but offered poor first-quarter guidance. Qualcomm also said … Read more
Ford F-150 pickup trucks at a dealership in Colma, California, on Friday, July 22, 2022. David Paul Morris | Bloomberg | Getty Images DETROIT- Ford Motor’s US sales last month declined by 10% as the automaker battled through supply chain issues that delayed shipments to dealers. The Detroit automaker on Wednesday reported sales of 158,327 … Read more
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