Ford stock drops more than 4% as supply costs to jump by $1 billion, parts shortages to leave more cars unfinished

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

Nvidia stock fall after U.S. moves to restrict its data-center sales in China

Nvidia Corp. shares fell in extended trading Wednesday after the graphics-chip specialist disclosed that the U.S. government is seeking to restrict its data-center business in China. In a filing with the Securities and Exchange Commission, Nvidia NVDA, -2.42% revealed that the U.S. has installed new license requirements for its A100 and forthcoming H100 integrated circuits … Read more

Okta stock plunges as CEO says ‘short-term challenges’ resulted in workers leaving at a higher rate

Okta Inc. shares plummeted in extended trading Wednesday after executives revealed the software company faced issues stemming from integration of the $6.5 billion acquisition of Auth0. Okta OKTA, +0.26% executives hiked their annual earnings outlook again Wednesday, but kept their target for full-year revenue the same. Todd McKinnon, chief executive and co-founder of Okta, told … Read more

Workhorse Stock Sinks After Company Cuts Its Sales Outlook

Text size Workhorse reported a net loss of $21.2 million. Courtesy Workhorse Workhorse Group stock tumbled on Tuesday after the electric-van manufacturer said it expects to sell fewer vehicles than previously expected and cut its revenue guidance for the full year. Workhorse (ticker: WKHS) said in its second-quarter earnings release that “assuming supply chain lead … Read more

Novavax slashes sales guidance in half, stock plunges 34%

Novavax Inc. executives slashed their annual sales guidance in half Monday while wildly missing financial expectations, sending shares down more than 30% in after-hours trading. Novavax NVAX, -5.01% now projects total 2022 revenue of $2 billion to $2.3 billion, after previously stating a goal of $4 billion to $5 billion. The U.S. Food and Drug … Read more

European banks got clobbered in Q2 — here’s what you need to know

European investment banks suffered a tough second quarter, as results this week revealed sharp cuts in dealmaking fees amid tough trading conditions. The past three months have been one of the most challenging environments for investors in the last decade. A surge in inflation, Russia’s ongoing assault on Ukraine, and a continued Covid-19 hangover have shaken … Read more

Apple Earnings Day Is Here. The Dollar and Inflation Could Bite.

Text size Apple is more exposed to the consumer economy than other tech hardware companies. Photo by DANIEL SLIM/AFP via Getty Images Apple will report June quarter earnings late Thursday, and CEO Tim Cook will face questions about everything from currency headwinds to slowing Mac sales. The company faces considerable crosswinds. For starters, with a … Read more

Kraft Heinz’s Earnings Beat Forecasts. Why the Stock Is Falling Anyway.

Text size Kraft Heinz posted second-quarter adjusted earnings that beat Wall Street expectations. Alex Wong/Getty Images Kraft Heinz posted higher earnings than analysts expected and raised its full-year forecast for organic net sales, but the stock slid anyway as profit margins narrowed. Kraft (ticker: KHC) reported adjusted earnings for its second quarter of 70 cents … Read more

ASML Stock Drops. The Chip Supplier Slashes Sales Outlook Amid Delays.

Text size ASML’s machines are key to the global chipmaking industry. Courtesy Bart van Overbeeke/ASML ASML beat expectations for second-quarter earnings, but shares in the critical supplier of manufacturing equipment to the semiconductor industry were tumbling Wednesday after the group slashed its full-year sales forecast. ASML (ticker: ASML) reported second-quarter net income of €1.4 billion … Read more

Juul Ban Will Send Altria’s Strategy, and $13 Billion, Up in Smoke

Altria Group disastrous investment in Juul Labs is taking another turn for the worse. On Wednesday, The Wall Street Journal reported that the Food and Drug Administration is preparing to remove Juul e-cigarettes from the U.S. market. Banning Juul in the U.S., where it was on track to make 94% of its revenue this year, … Read more