Wells Fargo CEO Tim Sloan steps down
(Reuters) – Wells Fargo & Co said on Thursday Tim Sloan will resign immediately as chief executive, becoming the second CEO to leave the bank in the fallout of a…
Abercrombie expects redesigned stores to boost 2019 sales, shares surge
(Reuters) – Abercrombie & Fitch’s shares surged 20 percent after the apparel retailer forecast better-than-expected annual sales on Wednesday, betting on its remodeled stores and the popularity of its Hollister…
Kraft Heinz shares fall 28 percent after writedown, dividend cut
(Reuters) – Kraft Heinz Co shares fell to a record low on Friday a day after the food company disclosed a $15 billion write-down on its marquee brands, raising concern…
Mattel warns of weak 2019, shares drop most in 20 years
(Reuters) – Mattel Inc on Friday issued a disappointing 2019 forecast and said demand for its iconic Barbie doll was slowing, triggering an 18 percent drop in its shares, their…
Exclusive: Tesla’s delivery team gutted in recent job cuts – sources
SAN FRANCISCO (Reuters) – When Tesla Inc announced last month a second round of job cuts to rein in costs, one crucial department was particularly badly hit. The automaker more…
Mattel posts surprise profit as Barbie makeover lifts sales
(Reuters) – Mattel Inc posted a surprise fourth-quarter profit on Thursday, as the toymaker benefited from a makeover of its iconic Barbie doll, while keeping a tight lid on costs,…
High-margin pickup trucks drive GM profit, shares rise
DETROIT (Reuters) – General Motors Co on Wednesday reported a quarterly profit that exceeded Wall Street expectations, thanks to high-margin pickup trucks and small SUVs in the U.S. market and…
Disney profit beats, driven by theme parks, ABC network
(Reuters) – Walt Disney Co’s reported quarterly earnings on Tuesday that topped Wall Street estimates thanks to the company’s booming theme park business and growth at the ABC broadcast network.…
Snap user number beats Wall Street estimate, shares jump
(Reuters) – Snap Inc on Tuesday said the number of people using its Snapchat app was flat, beating Wall Street projections that it would continue to lose users to rival…
Amazon sales outlook disappoints after record holiday quarter
(Reuters) – Amazon.com Inc on Thursday forecast first-quarter sales below Wall Street estimates as new regulations in India created uncertainty around one of its key growth markets, dimming the online…