The Russian rouble extended gains in early Moscow trade on Thursday, supported by month-end tax payments that led to increased conversion of foreign currency into roubles, while stock indexes posted solid gains. Movements on the Russian market are partly artificial as the rouble is propped up by capital controls, while stocks are trading with a…
Amgen Says IRS Seeks Another $5.1 Billion in Back Taxes
Amgen Inc on Wednesday said the U.S. Internal Revenue Service (IRS) is seeking additional back taxes of $5.1 billion, plus interest and penalties, related to the drugmaker’s 2013 to 2015 accounting for profits between the United States and Puerto Rico, the location of most of its manufacturing operations. Shares of Amgen, which also reported higher…
Some Celebrities Leave Twitter, Other Notables Return: What Investors Should Know Some
News that Tesla Inc. CEO Elon Musk reached a deal to acquire Twitter Inc. has drawn mixed reactions from investors, Twitter users and celebrities. Here’s the latest. Obama Down by 300,000 A large number of deactivations have happened on Twitter since the news that Musk was paying $54.20 or around $44 billion to acquire the social media…
Boeing Shares Plunge on Array of Charges, 737 MAX Target in Doubt
Boeing Co unveiled $2.7 billion in charges and added costs across its aircraft portfolio on Wednesday, and expressed doubts over hitting jet delivery targets as technical problems, inflation and supplier risks cloud its path toward recovery. Shares of the U.S. planemaker fell to a nearly 1-1/2 year low after it posted a quarterly loss and…
Musk Loses Bid to End SEC Agreement on Oversight of Tesla Tweets
A U.S. judge slammed Elon Musk on Wednesday for trying to escape a settlement with regulators requiring oversight of his Tesla Inc tweets, saying the billionaire was “bemoaning” the 2018 deal now that he felt Tesla was “invincible.” The ruling comes after the Twitter Inc board accepted on Monday Musk’s $44 billion deal to buy…
T-Mobile US Shares Gain on Q1 Performance; Boosting Sprint Merger Synergies Outlook
T-Mobile US, Inc. reported first-quarter FY22 revenue growth of 1.8 percent year-on-year to $20.12 billion, beating the consensus of $20.11 billion. EPS of $0.57 beat the consensus of $0.32. Service revenues of $15.1 billion grew 7 percent Y/Y, including Postpaid service revenue growth of 9 percent. T-Mobile added 348 thousand postpaid net accounts and 1.3 million…
US Pending Home Sales Post 5th Straight Monthly Decline in March
WASHINGTON—Contracts to buy U.S. previously owned homes dropped to the lowest level in nearly two years in March as soaring house prices and mortgage rates reduced the pool of buyers. The National Association of Realtors (NAR) said on Wednesday its Pending Home Sales Index, based on signed contracts, fell 1.2 percent last month to 103.7….
US Auto Sales to Fall in April on Tight Inventories, Rising Rates: Data
April 28, 2022
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U.S. new vehicle sales is expected to fall in April, as low inventories and rising interest rates boost prices amid high demand, consultants J.D. Power and LMC Automotive said. U.S. retail sales of new vehicles in April could fall 23.8 percent to 1.1 million units from a year earlier, according to a report released by…
Boeing Posts $1.2 Billion Loss in Q1, Worse Than Expected
Boeing said Wednesday that it lost $1.2 billion in the first quarter as it took large write-downs and lost money in both its civilian airplane and defense businesses. The loss was bigger than Wall Street had forecast, and the company’s quarterly revenue also fell short of expectations. Boeing burned through $3.2 billion in cash. “Messier…
US Mortgage Interest Rates Rise Further, Loan Demand Ebbs
The average interest rate on the most popular U.S. home loan rose to its highest level since June 2009 last week and demand for mortgages ebbed as the impact of rising costs began to bite, Mortgage Bankers Association (MBA) data showed on Wednesday. The average contract rate on a 30-year fixed-rate mortgage increased to 5.37…
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