manufacturing
3M (NYSE: MMM) stock price has rebounded sharply this year even as the company continued facing substantial challenges. It has soared to over $100 and is hovering at its highest point since August 2022. The stock has jumped by more than 47% from its lowest level in December last year. Turnaround continues3M, one of the biggest industrial companies in the United States, has done well this year as the turnaround continues. This has been one of the most expensive turnaround approaches in corporate America. It has agreed to pay $10.3 billion to settle its forever chemicals settlement. These funds ...
Invezz
BAE Systems (LON: BA) share price has done well and is sitting at its highest level on record. It has soared to a high of 1,416p, 62% above its lowest point in 2023, meaning that it has outperformed most companies in the FTSE 100 index. Rising global risksBAE Systems stock price has done well, joining other companies of the military-industrial complex like RTX, General Dynamics, and Lockheed Martin. This growth happened as countries in North America and Europe continued boosting their defense spending. In the US, Senator Roger Wicker has made the case of boosting defense spending to 5% of the ...
Invezz
Producer prices saw a 1% fall in April, revealing a slightly bigger drop than the 0.5% seen in March, the latest eurozone month-on-month producer price index (PPI) report published by Eurostat has revealed. The greater-than-expected fall was mainly due to a cut in energy prices of 3.6% against the -2.3% cut in March. Producer prices, excluding energy prices, inched up 0.2% in April, down from 0.3% in March. Costs for non-durable goods, such as food, cosmetics, fuel, clothes, rose 0.1% in April, a slower rate than March's 0.6%. However, prices for durable goods, such as consumer electronics, fu...
Euronews (English)
The final eurozone manufacturing PMI from Hamburg Commercial Bank (HCOB) grew to 47.3 in May, announced S&P Global on Monday. That was up from April's figure of 45.7 and just below the preliminary estimate of 47.4. The PMI figure looks at five indices to measure economic health: new orders, output, employment, suppliers' delivery times, and stocks of purchases. A reading above 50 points to expansion, whereas one below 50 signals contraction. Manufacturing PMI Output at a 14-month highThe Manufacturing PMI Output Index, a separate figure that makes up the broader Manufacturing PMI, looks at the...
Euronews (English)
Porsche AG (P911) share price is in deep trouble and the situation could worsen in the coming weeks as its electric vehicle (EV) business slows. The stock crashed to a low of €76 on Monday, its lowest swing since January 26th. It has plunged by over 36% from its highest point on record. Porsche’s China woesPorsche’s stock has imploded as the company has reported weak financial results. Its total sales crashed frm €10.09 billion in Q1’23 to over €9.0 billion in Q1’24. Its battery electric vehicles segment’s revenue tumbled from over €11.4 billion to over €5.7 billion in Q1’24. Porsche’s profits...
Invezz
Ford Motor Co (NYSE: F) is up roughly 20% versus its year-to-date low but a Bernstein analyst is convinced it has significant room still to the upside. Ford stock could climb to $16Daniel Roeska assumed coverage of the legacy automaker last week with a “buy” rating and said it shares could climb to $16 which translates to about a 33% upside from here. The EV segment of $F known as the “Model e” lost $4.7 billion in 2023. Still, the Bernstein analyst told clients in a recent research note: While electric execution looms large, we see a clear path to significant operating leverage and ultimately...
Invezz
Boeing Co (NYSE: BA) is in focus this morning after announcing a new contract with the U.S. Air Force. Details of new Boeing-Air Force dealThe aerospace and defence giant has signed a $7.48 billion agreement related to JDAM (Joint Direct Attack Munition) with the Air Force Life Cycle Management Center, Hill Air Force Base, UT. $BA expects the contract that will see it deliver JDAM tail kits, repairs, spares, technical and Laser Joint Direct Attack Munition sensor kits to be completed by early 2030. The news arrives about a month after Boeing Co reported its financial results for the first quar...
Invezz
Innovative Eyewear Inc (NASDAQ: LUCY) is up nearly 500% at writing even though there hasn’t been any particular news to catalyse that kind of a rally in shares of the smart glasses company. Innovative Eyewear stock trading volume is up massively$LUCY did not post a press release or file with the Securities and Exchange Commission of the United States on Friday. None of the Wall Street analysts issued a bullish note in its favour either. Still, more than 85 million shares of the Florida based company have exchanged hands today as of writing. The daily trading volume is up sharply from close to ...
Invezz
Lilium N.V. (NASDAQ: LILM) is in focus this morning after announcing a $114 million financing. Details of $LILM financingInsiders and existing shareholders participated significantly in the announced financing, as per the press release on Friday. $LILM plans on using the net proceeds to fund operations and for general corporate purposes. The financing is another step towards the “first manned flight of the Lilium Jet targeted for late 2024”. The news arrives about a month before Lilium is scheduled to report its financial results for the first quarter. Consensus is for it to lose about 14 cent...
Invezz
It’s another bad week for Chinese electric vehicle companies like Li Auto (LI), XPeng (XPEV), Nio (NIO), and Lotus Technology (LOT) as signs show that the industry is deteriorating with no end in sight. Last week, the biggest news was the decision by Joe Biden to levy tariffs on Chinese companies in a bid to protect the domestic industry. Of course, these tariffs will likely not work out as most companies will simply move their manufacturing plants to Mexico. The European Commission is also considering additional tariffs for these companies, a move that will attract retaliation from Beijing. R...
Invezz
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