Summary: U.S. industry groups are requesting a one-month extension to comment on the electric vehicle tariffs against China set to start on August 1, 2024, leading to Chinese EV stocks slumping. Boeing (BA) delays production milestones on its 737 jets. Tesla (TSLA) faces challenges with declining profit margins and consumer cancellations, resulting in higher risks for its stock. Whirlpool (WHR) is negatively impacted by the struggling consumer.
Full articleSummary: Bank of America boosted Whirlpool's price target from $63.00 to $75.00. Several research firms have provided ratings and price targets for WHR, with consensus target price of $111.00. Whirlpool announced a quarterly dividend of $1.75 per share.
Full articleSummary: Whirlpool Corp. is trying to boost sales by introducing high-end espresso machines under the KitchenAid brand, targeting Starbucks Corp. customers.
Full articleSummary: Whirlpool Corp. is targeting Starbucks customers by launching high-end KitchenAid automatic espresso makers priced at $2,000 amid struggling large appliance sales due to cautious consumer spending. The company aims to tap into the growing trend of at-home coffee consumption.
Full articleSummary: Various companies reported earnings after the bell. Align Technology beat analysts' expectations and saw a 3.6% increase, Meta Platforms fell 12% due to weak second-quarter revenue guidance, Ford Motor rose 2% after a first-quarter earnings beat and raised outlook, Ethan Allen Interiors slipped 4% following a decline in earnings and revenue, IBM slid 6.6% on revenue miss and plans to buy HashiCorp, Whirlpool rose 2% after an earnings beat, Chipotle Mexican Grill gained 3% on strong profits, Lam Research dropped 2% despite beating earnings estimates, ServiceNow fell 5% despite narrowly beating revenue expectations, Churchill Downs climbed 5.4% after exceeding earnings estimates, and United Rentals added 2.4% after beating earnings and revenue estimates.
Full articleSummary: Nasdaq and S&P 500 futures signaled a higher open on Wednesday based on positive guidance from Tesla and Texas Instruments. Market rallied after weak private-sector activity data as traders saw it as a catalyst for the Fed to remain dovish. Major indices opened higher, IT and communication services stocks led the gains, while only the material space came under selling pressure. Multiple companies reported earnings with notable moves in Tesla, Texas Instruments, and other major firms.
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