Author: Benjamin Hall

Stellantis reports significant drop in first-half earnings due to weak U.S. sales
26Jul Avatar photoBy Benjamin HallNo Comments
News

Stellantis reports significant drop in first-half earnings due to weak U.S. sales

More news - Latest news Stellantis, the multinational automaker behind brands including Jeep, Dodge and Chrysler, announced a 48% drop in net profit for the first half of 2024, mainly due to declining sales and production issues in the U.S. market. The company reported net income of €5.6 billion ($6.07 billion) in the first six months, down significantly from the same period in 2023. Adjusted operating income fell to €8.5 billion, down €5.7 billion, largely attributed to challenges in North America. Following the announcement, Stellantis shares in Milan fell 8.5%. CEO Carlos Tavares acknowledged the underperformance, citing a challenging industry landscape and internal operational challenges. He noted that many of the problems stemmed from U.S. operations, which were plagued by poor ...
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‘Deadpool & Wolverine’ Set to Break R-rated Box Office Records
26Jul Avatar photoBy Benjamin HallNo Comments
Business

‘Deadpool & Wolverine’ Set to Break R-rated Box Office Records

Related media - Recent news Ryan Reynolds and Hugh Jackman return to the Marvel Universe in “Deadpool & Wolverine,” a film set to make history this weekend as it debuts with an R rating in Disney’s Marvel Cinematic Universe (MCU). The highly anticipated third installment starring Reynolds’ wisecracking antihero is expected to gross between $160 million and $180 million domestically during its opening weekend. It’s already the highest-grossing film of 2024 in advance, according to Fandango, and is on track to break several records, including the biggest domestic opening of the year and the biggest debut ever for an R-rated film. Disney and Pixar’s “Inside Out 2” currently holds the title as the year’s highest-grossing film with $154.2 million, while the original “Deadpool” boasts the ...
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Ford Reports Significant Revenue Drop Due to Warranty Issues
25Jul Avatar photoBy Benjamin HallNo Comments
News

Ford Reports Significant Revenue Drop Due to Warranty Issues

More news - Latest news DETROIT — Ford Motor Company fell significantly short of Wall Street expectations for second-quarter earnings, despite beating revenue forecasts, as long-running warranty issues plague the automaker. Here's how the company performed against analyst estimates reviewed by LSEG: Earnings per share: 47 cents adjusted vs. 68 cents adjusted expected Automotive revenue: $44.81 billion vs. $44.02 billion forecast Ford shares are up about 15% this year as prices in the auto sector have remained more resilient than expected. However, as the industry-wide shift to electric vehicles proceeds more slowly than expected, the automaker has adjusted its production plans, focusing less on fully electric vehicles and more on hybrids. Most recently, Ford announced last week tha...
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76ers sign Paul George, secure Maxey extension, set championship aspirations
25Jul Avatar photoBy Benjamin HallNo Comments
Sports

76ers sign Paul George, secure Maxey extension, set championship aspirations

More news - Recent news PHILADELPHIA — Tyrese Maxey was patient. Despite the uncertainty, he waited, and now the Philadelphia 76ers have rewarded him handsomely. A year ago, the 76ers asked Maxey to delay signing a contract extension, promising that it would be worth it. At the time, Maxey was not yet an All-Star and had not scored 50 points in a game. The delay allowed the team to effectively manage the salary cap, entering free agency with about $65 million to spend. This strategic move paid off when the 76ers acquired Paul George from the Los Angeles Clippers on a four-year, $212 million deal. Maxey, the NBA’s Most Improved Player, also received his due: a five-year, $204 million extension. With these signings, the 76ers have committed more than $400 million to two players they be...
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AMC Reports Second-Quarter Revenue, Profit Drop Amid Strike-Related Movie Delays
25Jul Avatar photoBy Benjamin HallNo Comments
Business

AMC Reports Second-Quarter Revenue, Profit Drop Amid Strike-Related Movie Delays

More news - Latest news NEW YORK — AMC Entertainment on Wednesday warned investors of significant declines in key second-quarter financial metrics that led to a more than 7% drop in its stock price. The company attributed the decline to the actors' and screenwriters' strikes of the previous year, which led to fewer film releases and the resulting "weakness" in the quarter ended June 30. Preliminary results show AMC’s revenue fell more than 23% to $1.03 billion. The company also expects to report a net loss of $32.8 million, a stark contrast to the $8.6 million profit it reported in the second quarter of 2023. Full financial results are due on August 2. “As we anticipated and previously communicated, the prolonged actor and writer strikes of 2023 have significantly reduced the number ...
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Alphabet Hits Revenue Goals But Fails to Match YouTube Ad Revenue
24Jul Avatar photoBy Benjamin HallNo Comments
News

Alphabet Hits Revenue Goals But Fails to Match YouTube Ad Revenue

Related media - Latest news Google parent company Alphabet reported its second-quarter results after the market closed on Tuesday, meeting analysts’ expectations for revenue and profit but falling short on YouTube advertising revenue. Following the announcement, Alphabet shares rose about 1% in after-hours trading. Here's how the company performed against analyst estimates reviewed by LSEG: Earnings: $1.89 per share vs. $1.84 per share expectedRevenue: $84.74 billion vs. $84.19 billion expectedAdditional key figures tracked by Wall Street: YouTube Ad Revenue: $8.66 Billion vs. $8.93 Billion, According to StreetAccountGoogle Cloud Revenue: $10.35 Billion vs. $10.20 Billion, According to StreetAccountTraffic Acquisition Cost (TAC): $13.39 billion vs. $13.54 billion according to StreetA...
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