The Latest Breaking News from Supply chain

Shop prices hit highest rate of inflation in nearly 14 years

Soaring supply chain costs and a cut in household spending is sending inflation sky high.

Daily Record · Jun 29, 2022

Here's Why Cognyte Software Shares Are Crashing Premarket

Cognyte Software Ltd (NASDAQ:CGNT) reported a first-quarter FY23 non-GAAP revenue decline of 24.7% year-on-year to $86.7 million, missing the consensus of $112.6 million. Segments: Software revenue declined by 51.8% Y/Y to $24.9 million.  Software service revenue fell 9.7% Y/Y to $45.8 million.  Professional service and other revenue increased 27.8% Y/Y to $15.7 million. The…

Benzinga · Jun 28, 2022

Some cities cancel Fourth of July fireworks because of shortages and fire concerns

Some major fireworks displays are canceled again this year — some over wildfire concerns amid dry weather and others because of enduring pandemic-related staffing and supply chain issues.

WEKU · Jun 28, 2022

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,…

Benzinga · Jun 27, 2022

Some cities nix July 4 fireworks for shortages, fire dangers

The skies over a scattering of Western U.S. cities will stay dark for the third consecutive Fourth of July as some big fireworks displays are canceled again, this time for pandemic-related supply chain or staffing problems, or fire concerns amid dry weather

The Independent UK · Jun 27, 2022

Stellantis investment makes it 2nd largest shareholder in lithium supplier

Jeep maker Stellantis NV is investing nearly $53 million (50 million euro) into its European lithium partner in an effort to create a reliable supply chain of the critical mineral for electric-vehicle batteries.

Tribune News Service · Jun 24, 2022

Banks and UK supermarkets accused of backing deforestation in Brazil

By funding and stocking products from Brazilian meat giant JBS, firms have also supported land-grabbing, investigation claims

The Guardian - UK · Jun 24, 2022

Time To Drop These Beaten Down EV Stocks

Despite solid sales growth over the past year, the electric vehicle (EV) industry is grappling with supply chain issues and a shortage of key raw materials. As supply constraints are not expected to be eased anytime soon, fundamentally bleak EV stocks NIO (NIO) and Lucid Group (LCID), which have plunged…

StockNews.com · Jun 24, 2022

Here's Why Credit Suisse Sees Tesla Triumph Amid Odds

Credit Suisse analyst Dan Levy maintained Tesla Inc (NASDAQ:TSLA) with an Outperform and cut the price target from $1,125 to $1,000 (37% upside). Levy expected Tesla's 2Q deliveries of 242,000, missing the consensus of ~280,000 due to the Shanghai COVID shutdown.  Moreover, given the lower delivery outlook, the associated margin impact, and an expected Bitcoin impairment, he…

Benzinga · Jun 24, 2022

Why USA Truck Shares Are Skyrocketing Today

Logistics service provider DB Schenker has agreed to acquire all outstanding shares of USA Truck Inc. (NASDAQ:USAK) for $31.72 per share in cash, valuing USAK at ~$435 million, including assumed cash and debt. DB Schenker is a subsidiary of Deutsche Bahn. DB Schenker aims to strengthen and expand USA Truck's presence in North America…

Benzinga · Jun 24, 2022