Page 4 - Efinitiv News Today

Palantir: The company launched the platform, which includes an AI assistant that can help enterprises make decisions about their operations, in April. Its shares have more than doubled since.

Tyson Foods: The company hiked prices last year to offset spiraling feed and labor costs, but has been hit in 2023 by lower prices in core protein segments, such as pork. The company has also struggled to predict sales and previously said reduced demand for beef made it difficult to pass on higher costs to consumers.

Fisker Incs Q2 loss was smaller than expected. Deliveries of electric SUVs brought in revenue, boosting shares by 2%. 2023 production outlook lowered due to supplier delays. EV startups face supply chain issues. First revenue of USD 825,000 reported. Excluded from tax credit due to manufacturing location. Q2 loss per share beat analyst expectations. Operating profit predicted in Q4 according to Refinitiv data.

Magna reported adjusted earnings per share of USD 1.50 during the Fsecond quarter, compared with analysts average estimate of USD 1.23 per share, according to Refinitiv data.

Occidental Petroleum raised production forecast but missed Q2 profit due to low oil/gas prices. Q2 realized oil price down 32%, gas down 78%. Q2 production up 6%, full-year guidance raised by 1%. No exploration in Wyoming, took USD 164M charge. Marathon Oil, APA Corp beat estimates, adjusting production and spending. Apache cut spending outlook.

The company posted net income for the second quarter ended June 30 of USD 650 million, or USD 5.52 per share, compared with USD 406.8 million, or USD 3.46 per share, in the year-ago period. Sales in the companys Energy Storage division, which sells lithium, more than doubled to USD 1.76 billion. For the year, Albemarle expects the price at which it sells its lithium to jump nearly 30% from 2022 levels.

Amazon: Investors tuning into the companys earnings call this week also want updates on the tech giants cloud business, ad revenue growth and signals on consumer health heading into the holidays as inflation continues to impact spending for corporations and consumers.

Amazon, Google, IBM and Microsoft aren't just cloud providers anymore—and their tentacles are going to spread deep into trading systems going forward.

P&Gs better-than-expected results, like those of Unilever and Nestle, show that major global consumer product and food makers managed to raise their product prices enough to offset recent increases in their transportation, commodity and labor costs.

AT&T: The company also said it had achieved its $6 billion cost-cutting goal ahead of schedule and was now targeting another $2 billion-plus over the next three years.