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Ford Clocks 31.5% Growth In June US Sales

Ford Motor Co (NYSE:F) reported a 31.5% increase in June 2022 U.S. sales to 152,262 vehicles. The company posted a 26.4% increase in Truck sales, a 36.1% rise in SUV sales, and a 76.6% increase in Electric Vehicles. Retail sales for June 2022 grew 30.3%. "Amid industry-wide supply constraints, Ford outperformed the industry…

Benzinga

Volcon Opens Pre-Orders For Fully Electric UTV 'Stag'

Volcon Inc (NASDAQ:VLCN) has launched an all-electric Volcon Stag utility vehicle. The company has opened pre-orders for the vehicle. The Stag has 1,550 lbs of payload and 2,000 lbs of max towing capacity (with towing mode selected). Stag's peak power is measured at 125 hp with a torque of 265 lb-ft. Including…

Benzinga

Toyota US Sales Drop 17.9% In June

Toyota Motor Corp (NYSE:TM) said its North America business (TMNA) reported U.S. sales in June 2022 of 170,155 vehicles, a 17.9% decrease on a volume basis and down 21.1% on daily selling rate (DSR) basis Y/Y. Sales of electrified vehicles totaled 39,965, representing 23.5% of total monthly sales. On a volume basis, the…

Benzinga

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JBT Acquires Germany-Based Food Processing Machinery Maker Alco

John Bean Technologies Corp (NYSE:JBT) has acquired Alco-food-machines GmbH & Co. KG, a further food processing solutions and production lines provider, for undisclosed financial terms. Alco was founded in Bad Iburg, Germany, in 1977 based on the idea of Heinz and Gertrud Algra to make the best machines in the industry, which…

Benzinga

GM Holds ~95,000 Vehicles Manufactured Without Certain Components - Here's Why

General Motors Co (NYSE:GM) provided a business update for 2Q22 and said its vehicle wholesale volumes were impacted by the timing of certain semiconductor shipments and other supply chain disruptions. The company said it had approximately 95 thousand vehicles in its inventory, manufactured mostly in June, without certain components. GM expects to complete…

Benzinga

Airbus Reveals Massive New Orders In China

Airbus SE (OTC:EADSY) has won an order for 292 A320 Family aircraft from several Chinese airlines, indicating the positive recovery momentum and prosperous outlook for the Chinese aviation market. The Chinese airlines involved are Air China, Ltd. (OTC:AICAF), China Eastern Airlines Corp. Ltd. (NYSE:CEA), China Southern Airlines Co. Ltd.(NYSE:ZNH), and Shenzhen Airlines. These orders will enter the…

Benzinga

XPeng Records 133% Growth In June Deliveries

XPeng Inc (NYSE:XPEV) has delivered 15,295 Smart EVs in June 2022, representing a 133% increase year-over-year and a 51% growth over May 2022. The company’s second-quarter delivery jumped 98% Y/Y to 34,422 vehicles. As of June 30, 2022, year-to-date total deliveries reached 68,983 units, a 124% increase Y/Y. Beginning in mid-May, XPeng resumed double-shift…

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Toyota Launches Hybrid SUV For Indian Market: Reuters

Toyota Motor Corp (NYSE:TM) has unveiled its first mass-market hybrid car for India, a sport utility vehicle (SUV), Reuters reported. Toyota will build the Urban Cruiser Hyryder SUV in alliance with Suzuki Motor (OTC:SZKMY). Related: 2 Japanese Auto Giants To Jointly Make New Hybrid SUV In India The Japanese auto major’s latest offering will compete…

Benzinga

Why Kohl's Shares Are Plunging Today

Kohl's Corp (NYSE:KSS) has called off discussions to sell its business to Franchise Group Inc (NASDAQ:FRG), CNBC reported. The decision comes at a time when there is increased volatility in the stock market and the economy as the Federal Reserve seeks to hike interest rates to contain inflation. Related: Multiple Bidders, Key Executives Departure, Mixed…

Benzinga

Constellation Brands Q1 Earnings Top Estimates; Plans To Eliminate Class B Common Stock

Constellation Brands Inc (NYSE:STZ) reported first-quarter FY23 growth sales of 17% year-on-year to $2.4 billion, beating the consensus of $2.16 billion. Net sales for the Beer segment grew 21% Y/Y to $1.89 billion, and Wine and Spirits rose 2% Y/Y to $465 million. Shipment volume for Beer increased 17.3%, while Wine and Spirits…

Benzinga

Benzinga Before The Bell: Texas Giga Tesla's Output Ramp Up, California's Lithium Tax, Spot Bitcoin ETF Proposal Rejection And Other Top Financial Stories Thursday, June 30

Reuters Hyundai, Affiliates Plan To Set Up New Company In US:

Benzinga

Read How Barnes & Noble Education Performed In Q4

Barnes & Noble Education Inc (NYSE:BNED) reported fourth-quarter FY22 sales growth of 17.1% year-on-year to $260.83 million, beating the consensus of $229.21 million. Retail segment gross comparable store sales increased 32.6%. Retail sales rose 18.3%, and wholesale sales decreased 6.5%. Gross profit rose 123.4% Y/Y to $80.2 million with a margin of 30.7%.…

Benzinga

Earnings Miss, Margin Pressure, CEO Exit: Bed Bath & Beyond's Q1 Highlights

Bed Bath & Beyond Inc (NASDAQ:BBBY) reported a first-quarter FY22 sales decline of 25% year-on-year to $1.46 billion, missing the consensus of $1.54 billion. Comparable sales declined 23%. Adjusted gross margin contracted 1,110 basis points to 23.8%. Adjusted EBITDA loss was $(224) million, with the adjusted EBITDA margin at (15.3)% versus 4.4% last…

Benzinga

General Mills Stock Gains on Q4 Earnings Beat

General Mills Inc (NYSE:GIS) reported fourth-quarter FY22 sales growth of 8% year-on-year to $4.89 billion, beating the consensus of $4.81 billion. North America Retail segment sales increased 11% Y/Y to $3 billion. Pet segment sales increased 37% to $610 million, while International segment sales fell 21% to $750 million. Adjusted EPS of $1.12…

Benzinga

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FTC Sues Walmart For Allowing Scammers Use Money-Transfer Services

The Federal Trade Commission has sued Walmart Inc (NYSE:WMT), alleging that the retail giant allowed its money-transfer services to facilitate fraud. According to the complaint, the company did not properly train its employees, failed to warn customers, and used procedures that allowed fraudsters to cash out at its stores. The financial services offered…

Benzinga

Walgreens Retains Boots Business Ownership Amid Market Instability

Walgreens Boots Alliance Inc (NASDAQ:WBA) has decided to retain its Boots and No7 Beauty Company businesses under its existing ownership. The decision marks the conclusion of the review that began in January. The discussions Walgreens had with potential buyers did not yield expected results as the recent market instability severely impacted the financial availability…

Benzinga

Needham Remains Upbeat On DoorDash; Slashes Price Target By 29%

Needham analyst Bernie McTernan maintained DoorDash, Inc (NYSE:DASH) with a Buy rating and lowered the price target from $140 to $100 (42% upside). He believes DASH could leverage its leadership position in restaurant delivery to become one of the leading, horizontal, on-demand, last-mile fulfillment providers in North America. Ultimately, he thinks DASH would be able…

Benzinga

Ameren Acquires Huck Finn Solar Project In Missouri

EDF Renewables North America and Ameren Corp's (NYSE:AEE) subsidiary Ameren Missouri have established an agreement for Huck Finn Solar Project. Ameren will acquire, after construction, the 200 megawatt (MWac) / 270 MWdc Huck Finn Solar Project. The terms of the agreement are confidential. Developed by EDF Renewables, Huck Finn Solar is expected to create…

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Benzinga

GE Makes Leadership Changes In Aviation Unit: All You Need To Know

General Electric Co (NYSE:GE) has named its current Chairman and CEO H. Lawrence Culp, Jr., to take up the additional role of CEO of GE Aviation, effective immediately. GE Aviation's current President and CEO, John Slattery, has been named Executive Vice President and Chief Commercial Officer of the business. GE named Russell…

Benzinga

Read Why Needham Is Bullish On This Pet Care Retailer

Needham analyst Anna Andreeva upgraded Chewy Inc (NYSE:CHWY) to Buy from Hold with a price target of $55, implying a 44% upside. The analyst said the company had exceeded expectations in Q1 FY22 after missing consensus EBITDA for four quarters. Andreeva thinks the positive momentum continued in Q2 as the pet category was inelastic, with price increases sticking,…

Asharq Al-Awsat

Arcapita’s CEO: We Have Successfully Executed 100 Investment Transactions with a Total Value of $31 Billion

Atif Abdulmalik, Chief Executive Officer of Arcapita Group Holdings (Arcapita), a Sharia compliant global alternative investment firm, has set out Arcapita’s strategic transformation plan for the coming five years. The strategy aims to increase the size and volume of Arcapita’s transactions in the private equity and real estate sectors by…

Benzinga

Why Carnival Shares Are Surging Today

Carnival Corp (NYSE:CCL) (NYSE:CUK) reported second-quarter FY22 sales growth of 50% Q/Q to $2.4 billion, missing the consensus of $2.62 billion. The operating costs and expenses rose 132% to $3.9 billion. The operating loss narrowed to $(1.4) billion from $(1.6) billion a year earlier. Occupancy in the second quarter of 2022 was 69%…

Benzinga

CarMax Q1 Earnings Top Estimates

CarMax Inc (NYSE:KMX) reported first-quarter FY23 sales growth of 21% year-on-year to $9.31 billion, beating the consensus of $9.12 billion. The company sold 427,257 units through combined retail and wholesale channels, a decrease of 5.5% Y/Y. KMX cited several macroeconomic factors that weighed on Q1 unit sales performance, including the lapping of stimulus…

Benzinga

Why Shares Of Grief Are Trading Higher

Greif, Inc. (NYSE: GEF) shares are trading higher after the company announced a $150 million share buyback program.

Benzinga

Kroger Boosts Dividend By 24%

Kroger Co (NYSE:KR) Board of Directors approved a dividend increase of 24% from $0.84 to $1.04 per year. The next quarterly dividend of $0.26 per share will be paid on September 1, 2022, to shareholders of record as of the close of business on August 15, 2022. Related: Kroger Q1 Earnings Top Estimates; Raises…

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