Mobileye’s stock melts down as inventory issues prompt grim revenue warning
Shares of Mobileye Global Inc. were tanking in Thursday’s premarket action after the company, which makes self-driving technology, issued a revenue warning as its customers deal with excess inventory. Mobileye MBLY, -3.92% expects first-quarter revenue to fall about 50% from the $458 million that it reported in the year-earlier period. Analysts tracked by FactSet had […]
‘He broke down in tears’: I gave my contractor $100,000, but he used it to pay off his debts. What chance do I have of getting my money back?
I’m in a home-renovation nightmare. My interior designer accepted $100,000 in payments for appliances, cabinets, flooring, fixtures and hardware but never paid the vendors for those items. When I confronted him, he broke down in tears and confessed that he needed to use the money for other business expenses. Meanwhile, my project is at a […]
Red Sea crisis fuels shipping costs, delays, inflation
The Maersk Sentosa container ship sails southbound to exit the Suez Canal in Suez, Egypt, on Thursday, Dec. 21, 2023. Stringer | Bloomberg | Getty Images Attacks on ships in the Red Sea continue to push ocean freight rates higher, triggering warnings of inflation and delayed goods. To avoid strikes by Iran-backed Houthi militants based […]
Mark Zuckerberg sold $428 million of Meta stock in the last two months of 2023
Mark Zuckerberg cashed in on his company’s 2023 stock rally in a big way — selling nearly $428 million worth of shares in Meta Platforms Inc. over the final two months of the year. The Meta META, -0.53% co-founder and chief executive offloaded just under 1.8 million shares over the course of every trading day […]
Ford F-150 Lightning EV price adjustments
The Ford F-150 Lightning Electric Truck. John Tlumacki | Boston Globe | Getty Images DETROIT — Ford Motor is increasing the price of some 2024 F-150 Lightning models, while lowering the costs of its most expensive models. The Detroit automaker confirmed Wednesday that new starting prices for the pickup will range from $54,995 for an […]
Best-selling personal finance author says he’s more than $1 billion in debt
A bestselling personal finance author and entrepreneur admits that he has more than $1 billion in debt — and he doesn’t think that’s a bad thing. “If I go bust, the bank goes bust,” said “Rich Dad, Poor Dad” author Robert Kiyosaki in a Nov. 30 Instagram reel. “Not my problem.” That’s because his debt […]
GM’s 2023 U.S. vehicle sales were its best since 2019
The 2024 Buick Envista. GM DETROIT — General Motors’ U.S. vehicle sales increased 14.1% last year to represent the automaker’s best year since 2019, prior to the effects of the Covid-19 pandemic and yearslong supply chain problems. The Detroit automaker on Wednesday reported sales of roughly 2.6 million vehicles in 2023, including 625,176 cars and […]
Treasury yields move higher as traders rein in rate-cut optimism ahead of Fed minutes
U.S. government-debt yields remained higher Wednesday morning as reduced expectations for a Federal Reserve rate cut in March overshadowed data on manufacturing and job openings. What’s happening The yield on the 2-year Treasury BX:TMUBMUSD02Y advanced 1.3 basis points to 4.341%, from 4.328% on Tuesday. The yield on the 10-year Treasury BX:TMUBMUSD10Y rose 3.5 basis points […]
These 3 flashpoints could spark wider Middle East war that markets can’t ignore
Oil traders are, for now, looking past rising tensions in the Red Sea. But that may not last, a top Wall Street commodities analyst warned in a note Tuesday. Iran’s decision to send a warship into the Red Sea only briefly alarmed oil traders Tuesday, with crude prices soon dipping back into negative territory after […]
Fisher Investments denies WSJ report that it’s in sale talks
Money-management firm Fisher Investments late Tuesday denied a report that it’s in sale talks with private-equity firm Advent International. The Wall Street Journal, citing sources familiar with the matter, reported Tuesday that acquisition talks were underway. No further details were revealed, and the Journal reported that it’s possible no deal will be made, or that […]
