Rivian (RIVN) reported mixed quarterly results for the first quarter, but will see further cost savings from shifting its upcoming R2 production to its Normal, Illinois, plant and trimmed its capital expenditure forecast. The EV-maker also reaffirmed its full-year loss forecast, and still sees a “path” to “modest gross profit” in the fourth quarter of […]
Tag: Trims
Berkshire Hathaway Trims Its Apple Investment and Has $189 Billion in Cash
Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B) reported first-quarter results on Saturday, and there’s quite a bit to unpack. In addition to the headline revenue and earnings numbers, investors always watch Berkshire’s cash stockpile, buyback activity, and the operating income from its subsidiary businesses. With that in mind, here’s a rundown of the key numbers, a major […]
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Tesla Trims Car Output in China as EV Sales Growth Slows
(Bloomberg) — Tesla Inc. has reduced production at its plant in China, according to people familiar with the matter, amid sluggish growth in electric-vehicle sales and intense competition in the world’s biggest auto market. Most Read from Bloomberg The US carmaker earlier this month instructed employees at its Shanghai facility to lower production of both […]
Berkshire trims Apple, sheds four stocks, mum on new investment
By Jonathan Stempel (Reuters) -Berkshire Hathaway on Wednesday said it has trimmed its huge stake in Apple and shed four common stock holdings, and kept investors guessing on what could be a major new investment by Warren Buffett. In a regulatory filing describing its U.S.-listed stock holdings at the end of 2023, Berkshire said it […]
Berkshire trims Apple, sheds four stocks, mum on new investment
By Jonathan Stempel (Reuters) -Berkshire Hathaway on Wednesday said it has trimmed its huge stake in Apple and shed four common stock holdings, and kept investors guessing on what could be a major new investment by Warren Buffett. In a regulatory filing describing its U.S.-listed stock holdings at the end of 2023, Berkshire said it […]
America Movil trims 2024 capex to $7 billion on less spectrum spend
By Cassandra Garrison and Sarah Morland MEXICO CITY (Reuters) -Mexican telecommunications giant America Movil said on Wednesday it expected reduced capital expenditure of around $7 billion this year, following years of significant spending on buying spectrum and refreshing its network infrastructure. This compares with spending of $8.6 billion in 2023. In a call with analysts, […]
CVS Health beats Q4 expectations, but trims annual outlook as costs rise
CVS Health’s fourth-quarter profit fell as the drugstore chain and pharmacy benefits manager dealt with increased operating costs. Still, its adjusted profit and revenue beat Wall Street’s estimates. The Woonsocket, Rhode Island-based company also trimmed its full-year adjusted earnings forecast, citing the possibility of higher medical costs. For the three months ended Dec. 31, CVS […]
Cigna trims portfolio by selling Medicare business for $3.7 billion to Health Care Service Corp.
The Cigna Group will sell its Medicare business to another insurer, Health Care Service Corp., for about $3.7 billion. Cigna said Wednesday the deal includes its Medicare Advantage insurance, a supplemental benefits business and Medicare prescription drug coverage. Medicare Advantage plans are privately run versions of the government’s Medicare program mostly for people ages 65 […]
Stock Market Trims Losses After Fed Minutes; What The Bad Santa Rally Means For Indexes
Major stock market indexes came off session lows Wednesday afternoon after the Federal Reserve released minutes from its December meeting, while small caps took heavy fire and Treasury yields were erratic. X The S&P 500 was off 0.4% after the minutes came out at 2 p.m. ET. The Nasdaq composite fell 0.8% and is on […]