There’s only one ‘perfect asset’ to fight all the bad news that could be coming, says this strategist

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

UiPath Stock Sinks on Cut to Fiscal-Year Revenue Forecast

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

Norwegian Stock Sinks as It Predicts Losses to Continue

Text size The cruise company predicted it would continue to be unprofitable in the third quarter. Alexandre Meneghini/Reuters/Alamy Shares of Norwegian Cruise Line Holdings fell in premarket trading Tuesday after the cruise company predicted it would continue to be unprofitable in the third quarter. Norwegian (ticker: NCLH ) posted a second-quarter adjusted loss of $478.3 … Read more

Disney, Coinbase, BioNTech, Rivian, and Other Stocks to Watch This Week

Text size Second-quarter earnings season continues this week, while a pair of July inflation figures and consumer sentiment surveys will be the highlights on the economic-data calendar. On Monday, Tyson Foods , BioNTech , AIG, and Take-Two Interactive Software will report. Coinbase Global, Norwegian Cruise Line Holdings , Sysco , and Ralph Lauren go on … Read more

Morgan Stanley upgrades freight company XPO, calls shares ‘too cheap to ignore’

A decline in freight company XPO Logistics’ stock is a buying opportunity, according to Morgan Stanley. The bank upgraded the stock to overweight from equal weight, keeping its $75 price target, in a Friday note calling XPO “too cheap to ignore” from analysts led by Ravi Shanker. Year to date, XPO has declined 37%, but … Read more

The battle over inflation-linked pay adding to European port contagion

The growing congestion at ports in Germany and the Netherlands, which could delay car and furniture shipments to the U.S. for weeks, shows no signs of clearing up as the latest round of labor negotiations between the Central Association of German Seaport Companies (ZDS) and ver.di, the German labor union, ended with no agreement. A … Read more

Ford joins First Movers Coalition, moves a step ahead to carbon neutrality

Ford Motor Company announced it will join the First Movers Coalition, a global initiative to harness purchasing power and supply chains to create early markets for innovative clean energy technologies.  Ford Chief Government Affairs Officer Chris Smith said, “Now as part of the First Movers Coalition, Ford is targeting the environmental impact of its supply … Read more

Commodity prices will shoot up because demand is good: Anil Agarwal

Metal, mining and energy conglomerate Vedanta is investing close to $20 billion over the next few years to not only scale up existing businesses but also enter new areas such as semiconductor manufacturing. In an interaction with Business Line, Anil Agarwal, Chairman, Vedanta Resources, shares his thoughts on the way ahead for the company amid … Read more

Global supply chain disruption set to get worse due to delays at Chinese ports

The already stretched global supply chain crisis is all set to get worse. In fact, with Chinese ports operating at bare minimum capacity due to the Covid-related restrictions imposed by the government, the disruption in the movement of goods is expected to reach alarming proportions. While the problem is very bad between the US and … Read more

China’s Bet on Sending Its Exports Through Russia Hits Setback

Sanctions imposed on Russia are disrupting China’s ambitions to move more exports to Europe, a setback for the $4 trillion effort championed by Chinese leader Xi Jinping to cement his country as the world’s pre-eminent trading partner. Although the European Union has yet to officially ban imports passing through Russia, inbound rail-cargo shipments have all … Read more