Tesla stock surges as analysts react to Q3 earnings, Musk predictions

Tesla shares soared 22% to close at $260.48 on Thursday, the stock’s best day since 2013, following the company’s better-than-expected earnings report. The company late Wednesday reported revenue of $25.18 billion, which came in just under analysts’ expectations of $25.37 billion, but was up 8% compared with a year earlier. Tesla reported earnings per share of 72 cents adjusted,…

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Southwest, Elliott strike deal to keep CEO Jordan, add six directors

Bob Jordan, CEO of Southwest Airlines, listens to questions from media during Southwest Airlines Investor day at Southwest Airlines Headquarters on September 26, 2024 in Dallas, Texas. Sam Hodde | The Washington Post | Getty Images Southwest Airlines and activist hedge fund Elliott Investment Management struck a deal to avert a proxy fight in exchange for naming six directors…

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Boeing machinists reject new labor contract, extending more than 5-week strike

Boeing workers from the International Association of Machinists and Aerospace Workers District 751 attend a rally at their union hall during an ongoing strike in Seattle, Washington, U.S. October 15, 2024.  David Ryder | Reuters Boeing machinists voted against a new labor deal that included 35% wage increases over four years, their union said Wednesday, extending a more than…

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CDC notified about outbreak last week

A customer walks out of a McDonald’s restaurant in Omaha, Nebraska, on Oct. 23, 2024. Mario Tama | Getty Images The Centers for Disease Control and Prevention told McDonald’s late last week about a potential link to an E. coli outbreak, company spokespeople said Wednesday. At that time, the number of connected cases was smaller than it is now,…

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Tesla (TSLA) Q3 2024 earnings report

Tesla reported third-quarter earnings Wednesday that topped analysts’ estimates even as revenue came in just shy of expectations. The stock popped roughly 17% in Thursday morning trading. Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG: Earnings per share: 72 cents, adjusted vs. 58 cents expected Revenue: $25.18…

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10-year Treasury yield climbs to 4.25%

The U.S. 10-year Treasury yield rose again Wednesday as traders digested the latest comments from Federal Reserve officials on the trajectory of interest rate cuts. The yield on the 10-year Treasury rose more than three basis points to about 4.24. At its session high, the benchmark rate traded at 4.26%, reaching its highest level since July 26. That move comes…

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Starbucks releases preliminary results, says sales fell again

Starbucks on Tuesday posted preliminary quarterly results that showed its sales fell again as the coffee chain tries to execute a turnaround. “Our fourth quarter performance makes it clear that we need to fundamentally change our strategy so we can get back to growth and that’s exactly what we are doing with our ‘Back to Starbucks’ plan,” CEO Brian…

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McDonald’s shares fall after CDC says E. coli outbreak linked to Quarter Pounders

McDonald’s Quarter Pounder hamburger Getty Images McDonald’s shares dropped in premarket trading Wednesday morning after the Centers for Disease Control and Prevention said an E. coli outbreak linked to McDonald’s Quarter Pounder burgers has led to 10 hospitalizations and one death. The agency said 49 cases have been reported in 10 states between Sept. 27 and Oct. 11, with…

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Market reckoning on spending is coming after election

Billionaire hedge fund manager Paul Tudor Jones is raising alarms about the U.S. government’s current fiscal deficit and the increased spending promised by both presidential candidates, saying the bond market may force the government’s hand after the election in addressing it. “We are going to be broke really quickly unless we get serious about dealing with our spending issues,”…

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General Motors (GM) earnings Q3 2024

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…

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