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Text size Japan has had to intervene to support the sliding yen for the first time since 1998, even as it tries to keep its interest rates low. Akio Kon/Bloomberg The world has been hooked on cheap money for years. Now we’re witnessing what withdrawal looks like. Lifting interest rates from nil has produced a … Read more
Ahead of Volkswagen’s IPO of Porsche AG in a few weeks, hedge fund Millennium International Management has built a large short position in Porsche SE. According to data from research firm Breakout Point, Millennium disclosed a position representing 0.6% of the company’s shares on 14 September. A rough estimate based on current market capitalisation would … Read more
Ahead of that, stock futures are falling after Ford warned on high supply costs, on the heels of FedEx’s FDX, +1.17% profit caution last week. The dollar and cash have been among the most popular havens for investors as they navigate recession risks with higher rates and higher inflation, alongside a brutal war in Europe. … Read more
Ford Motor Co. shares dropped more than 4% in the extended session Monday after the company said inflation and parts shortages will leave it with more unfinished vehicles than it had expected, reminding Wall Street supply-chain snags are far from over for auto makers. Ford F, +1.43% said it expects to have between 40,000 and … Read more
Ford Motor Co. said Monday that shortages of certain parts will result in a higher-than-planned number of unfinished vehicles in its inventory. “Vehicles on wheels” have been built but are still in need of some parts, the company said. Ford said it expected to have about 40,000 to 45,000 such vehicles in inventory at end … Read more
Facebook was a member of the exclusive $1 trillion club a year ago, but it’s fallen a long way since then. Now named Meta Platforms Inc. META, -2.18%, the company saw its market value fall below $400 billion Friday for the first time since Jan. 7, 2019, according to Dow Jones Market Data. Meta’s valuation … Read more
Text size IBM stock is one of a dozen cheap picks we’ve found in a screen. Miguel Medina/AFP via Getty Images This is looking like a throw-the-baby-out-with-the-bathwater market. Take Tuesday trading: 490 of the S&P 500 stocks are lower after August inflation came in hotter than expected. Most stocks are having a lousy year, but … Read more
Updated Sept. 15, 2022 5:42 pm ET Listen to article (1 minute) FedEx said its quarterly revenue fell below its expectations and it was closing offices and parking aircraft to offset declining volumes of packages moving around the world. FedEx shares tumbled 13% on the warning, which came after markets were closed Thursday and about … Read more
Text size Tesla was once a heavily shorted stock, with a lot of bears betting on stock price declines. That’s changed recently. Patrick T. Fallon/AFP via Getty Images The market just learned something surprising about Tesla and Apple, two mega-capitalization companies: Data from short-selling analytics firm S3 Partners revealed that the value of Apple (ticker: … Read more
Text size UiPath, the robotic-process automation software company, cut its revenue outlook for the fiscal year. Courtesy UiPath UiPath stock was sinking Wednesday after the robotic-process automation software company cut its outlook for fiscal-year revenue citing “foreign exchange and macroeconomic volatility.” For the third quarter, UpPath (ticker: PATH) said it expects revenue of $243 million to $245 … Read more