Morgan Stanley Expects Chinese Consumer Spending to Double by 2030
Chinese consumer spending is expected to grow by 7.9% a year to hit $12.7 trillion in the next ten years with services leading, according to CNBC. The projected spending is…
Eli Lilly Results: Profit Jumps 41.5% on Covid Antibody Sales Strength
Eli Lilly recorded a 41.5% growth in fourth-quarter profits ending December 31, according to the company’s press release. The earnings were boosted by higher demand for its diabetes drugs and…
Retail Frenzy, Wall Street Squeezes, and Regulatory Rhetoric in 11 Hours Trading Mania
Retail traders piled into heavily shorted shares of GameStop on Wednesday, which had already gained 276% in the past five days. According to Bloomberg, the Wednesday trading frenzy was propelled…
American Airlines Announced Q4 Results, Loss Per Share Is Lower than Expected
American Airlines posted a fourth-quarter net loss of $2.2 billion or ($3.81) per share, better than expected $3.86 loss per share, according to the company’s press release. The full-year net…
Climate Action: Biden’s Early Climate Move Swift than Anticipated
U.S president Joe Biden caught oil executives by surprise as he revoked the cross-border Keystone XL pipeline permit on his first day in office. Stopping the Keystone XL project is…
GameStop’s Surge Comes to a Standstill as Trading Platforms Block Stock Buys
GameStop’s stock traded within double-digit losses and gains in early New York trading after Robinhood markets restricted its trading, reports Bloomberg. GameStop, AMC Entertainment Holdings Inc., Express Inc., BlackBerry Ltd,…
Apple Announces Q1 Results, EPS Hits a New All-Time Record Growth
Apple’s revenue for the first quarter of 2021 rose 21% to an all-time record of $111.4 billion, according to the company’s press release. The quarterly earnings per diluted share were…
Tesla Stock Falls as Earnings Miss Expectations Despite 2021 Growth Prospects
Tesla reported earnings per share of 80 cents on revenue of $10.74 billion in the fourth quarter, less than expected 90 cents a share, according to the company’s press release.…
Airline Association Wants WHO to Back Quarantine-Free Air Travel after Vaccinations
Airlines have requested the World Health Organization to rule it’s safe to fly without quarantining after a coronavirus vaccine, according to Bloomberg. Led by the International Air Transport Association, the…
Boeing Q4 2020 Earnings. Record Net Loss of $11.9 Billion
Boeing shares fell 4% on Wednesday morning trading after a record net loss that topped $11.9 billion in 2020, according to the company’s press release. The net loss was worsened…
Sanofi to Produce 125 Million Vaccine Doses after Agreement with BioNTech, Pfizer
Sanofi is set to produce more than 125 million doses of BioNTech and Pfizer coronavirus vaccine after collaboration, according to Bloomberg. The French drugmaker will give BioNTech access to a…
Microsoft Q2 Revenues Grew by 17% on Cloud Strengths
Microsoft revenues for the second quarter ending December 31, 2020, were $43.1 billion, up 17% year over year, according to the company’s press release. The earnings growth was driven by…
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