DETROIT — Shares of General Motors saw their largest daily increase since March 2020 on Tuesday after the company topped Wall Street’s third-quarter earnings expectations, increased 2024 guidance and reconfirmed plans for shareholder returns and resilient earnings next year. Shares of the Detroit automaker closed Tuesday at $53.73, up 9.8% — marking the highest daily percentage increase for the…
Republican presidential nominee and former U.S. President Donald Trump works behind the counter during a visit to McDonalds in Feasterville-Trevose, Pennsylvania, U.S. October 20, 2024. Doug Mills | Via Reuters Though President Donald Trump visited a Pennsylvania McDonald’s location on Sunday, the fast-food giant is trying to stay neutral in the presidential race. “As we’ve seen, our brand has…
People hold sings during a strike rally for the International Association of Machinists and Aerospace Workers (IAM) at the Seattle Union Hall in Seattle, Washington, on October 15, 2024. Jason Redmond | AFP | Getty Images Boeing and its machinists’ union have reached a new contract proposal, the union said Saturday, outlining a deal that could end a more than monthlong…
People look at the holiday window displays at a Macy’s store in Herald Square on December 11, 2023 in New York City. Michael M. Santiago | Getty Images Inflation may have cooled, but retailers are still staring down a holiday season with plenty of uncertainty. Several hard-to-predict factors will influence consumers’ spending, as they deck the halls and look…
Carlos Tavares, chief executive officer of Stellantis NV, speaks to the media at the Stellantis auto manufacturing plant in Sochaux, France, on Thursday, Oct. 3, 2024. Nathan Laine | Bloomberg | Getty Images DETROIT — Automaker Stellantis plans to shutter and sell its large vehicle proving grounds in Arizona at the end of this year, CNBC has learned. The…
Airplane fuselages bound for Boeing’s 737 Max production facility await shipment on rail sidings at their top supplier, Spirit AeroSystems Holdings Inc., in Wichita, Kansas, on Dec. 17, 2019. Nick Oxford | Reuters Boeing supplier Spirit AeroSystems will furlough some 700 workers as a strike by machinists at the plane maker enters its sixth week, a spokesman for the…
Procter & Gamble on Friday reported weaker-than-expected revenue as lower demand in China again weighed on its sales. The company’s organic sales in Greater China, its second-largest market, fell 15% in the fiscal first quarter. As home prices drop and jobless rates rise in the country, shoppers have pulled back their spending, hurting P&G’s sales for shampoo, diapers and…
Pat Gelsinger, CEO, of Intel Corporation, testifies during the Senate Commerce, Science, and Transportation hearing on semiconductors titled Developing Next Generation Technology for Innovation, in Russell Senate Office Building on Wednesday, March 23, 2022. Tom Williams | CQ-Roll Call, Inc. | Getty Images Intel is looking to sell at least a minority stake in its Altera unit in a…
Nurphoto | Nurphoto | Getty Images LOS ANGELES — Netflix posted third-quarter earnings Thursday that beat on the top and bottom lines as its advertising business continued to grow. The streamer’s ad-tier memberships jumped 35% quarter over quarter. The company is on track to launch the service in Canada in the coming quarter and more broadly in 2025. While…
Carlos Tavares, chief executive officer of Stellantis NV, beside a Citroen C5 Aircross Concept automobile at the Paris Motor Show in Paris, France, on Monday, Oct. 14, 2024. Bloomberg | Bloomberg | Getty Images PARIS, France — Several of Europe’s biggest carmakers unveiled low-cost electric vehicles (EVs) at the Paris Motor Show this week, seeking to jump-start a demand…