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The Latest Breaking News from Supply chain

Why FIGS Shares Are Trading Lower Today

FIGS Inc (NYSE:FIGS) reported first-quarter FY22 sales growth of 26.4% year-on-year, to $110.10 million, missing the consensus of $116.92 million. Active customers grew 31.1% to 2 million, and the average order value increased 16% to $116. The gross margin contracted by 40 basis points to 71.2%, driven by higher air freight spending and…

Benzinga · May 13, 2022

Iran Arrests at Least 22 Protesting Staple Food Price Hikes

Iranian authorities have arrested at least 22 demonstrators who had been protesting sudden price hikes of subsidized staple foods in two southern cities, state media reported early Friday. The arrests follow Iran's announcement this week that the cost of cooking oil, chicken, eggs and milk would rise by as much…

Asharq Al-Awsat · May 13, 2022

Technology Is Key To Weathering The Inflation Storm

By Martin Kotula

Benzinga · May 12, 2022

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Billion-dollar infrastructure budget blowout highlights impact of labour, supplies shortages

While much has been made of the effects rising costs and labour shortages are having on housing construction in Perth, the state budget lays bare the impact on the state's finances — and it's a billion-dollar problem.

ABC News · May 12, 2022

Holley Tops Q1 Amid Supply Chain Disruptions, Inflationary Headwinds

Holley Inc (NYSE:HLLY) reported first-quarter FY22 sales growth of 24.8% year-on-year, to $200.1 million, beating the consensus of $189.97 million. The gross profit increased 25.9% Y/Y to $82.7 million, with the margin expanding 30 basis points to 41.3%. Selling, general and administrative expenses increased 43% to $34.3 million. The operating margin was 18%,…

Benzinga · May 12, 2022

Better Choice Clocks 57% Revenue Growth In Q1; Plans Buyback

Better Choice Company Inc (NYSE:BTTR) reported first-quarter FY22 sales growth of 57% year-on-year, to $17 million, beating the consensus of $15.24 million. The gross profit increased 10.1% Y/Y to $4.7 million with a profit margin of 27.7%. Operating expenses declined 7.9% to $8.7 million. The operating loss narrowed to $(3.96) million versus a…

Benzinga · May 12, 2022

Texhong Eyes Vietnam in World of Diversifying Supply Chains

Key Takeaways: Texhong is preparing to launch a major facility in Vietnam that will sharply boost its fabric production to complement its larger cotton yarn business Company now manufactures nearly 40% of its output in the Southeast Asian nation and is one of the biggest U.S. cotton buyers in the…

Benzinga · May 12, 2022

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Biden to speak to baby formula manufacturers about shortage

President Joe Biden plans to speak on Thursday with baby formula manufacturers and retailers about the plight of families struggling to find formula due to supply chain disruptions and a safety recall

The Independent UK · May 12, 2022

Read How Himax Technologies Fared In Q1

Himax Technologies, Inc (NASDAQ:HIMX) reported first-quarter FY22 revenue growth of 33.6% year-on-year to $412.8 million. Net revenues declined 8.6% sequentially. Revenue from large display drivers grew 60% Y/Y to $110.6 million. Monitor and notebook IC sales decreased sequentially on the backdrop of slowing end market sell-through. TV revenue was flat sequentially, anchored by…

Benzinga · May 12, 2022

Baby formula shortage leaves parents scrambling nationwide

A combination of product recalls, rising prices and supply chain issues have particularly affected the availability of formula

The Independent UK · May 12, 2022

Rivian Announces Q1 2022 Results, Posts $1.6 Billion Net Loss

The company built 2,553 vehicles in the first quarter and says it maintains its 2022 production target of 25,000 units despite supply chain disruptions.

InsideEVs · May 12, 2022

Rivian Q1 Earnings Highlights: 2,553 Vehicles Produced, 1,227 Delivered, Supply Chain Constraints And More

Electric vehicle company Rivian Automotive Inc (NASDAQ: RIVN) reported its first quarter financial results after market close Wednesday. Here are the key highlights.

Benzinga · May 11, 2022

Raymond James Says 'Supply Chain Challenges Made Q1 Messy' For This Medtech Stock

ICU Medical Inc (NASDAQ:ICUI) reported Q1 sales of $543.1 million vs. Raymond James' estimate of $530 million. Core ICU beat by $7 million, while newly acquired Smiths Medical missed by $5 million. With an Outperform rating, the analysts lowered the price target from $265 to $235. Adjusted EPS was $1.82, down from Raymond James' estimate…

Benzinga · May 11, 2022

Tesla Urges Panasonic To Fast-Track Development Of Next-Gen Batteries

Tesla, Inc (NASDAQ:TSLA) urged Panasonic Holdings Corporation (OTC:PCRFY) to speed up the development of its next-generation 4680 batteries, Bloomberg reports as per Panasonic CFO Hirokazu Umeda. Umeda disclosed ongoing robust demand for batteries at a post-results briefing, including the 2170 cells it supplies for Tesla’s electric vehicles. Umeda said, “We seeing continued strong demand from…

Benzinga · May 11, 2022

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Benzinga · May 11, 2022

WiSA Shares Drop On 50% Revenue Decline In Q1; Margin Shrinks

WiSA Technologies, Inc (NASDAQ:WISA) reported a first-quarter FY22 revenue decline of 50% year-on-year to $0.6 million, missing the consensus of $1.38 million. The gross margin contracted 1,500 bps Y/Y to 11%, impacted by lower sales volumes. WiSA held $9.1 million in cash and equivalents. "As we communicated in our Q4 2021 announcement, Q1…

France 24 · May 11, 2022

‘Hurt, angry, anxious, scared’: Converging crises lead to US baby formula shortage

Along with much of the globe, US consumers are reeling from a cost of living and supply-chain crisis. One example is a shortage of baby formula caused by a constellation of factors, from rampant inflation to a massive recall over safety concerns.

Axios · May 11, 2022

Why you should care about falling lumber prices

Lumber is the poster child for the wild inflation and supply chain ride of the past year or so

The Independent UK · May 11, 2022

US casinos had best month ever in March, winning $5.3B

Inflation may be soaring, supply chains are snarled and the coronavirus just won’t go away

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The Independent UK · May 11, 2022

KFC and UK supermarkets’ chicken ‘hide indigenous rights abuses in Brazil’

Exclusive: Chicken supply chains depend on land from which native people have been forcibly evicted, claims report

Evening Standard · May 11, 2022

Elon Musk hints Tesla may stop taking orders as supply chain problems bite

Inflation and supply chain issues continue to hit carmakers, with Toyota and Tesla both sounding the alarm.

Asharq Al-Awsat · May 11, 2022

IEA: Renewable Energy to Grow to New Record in 2022

The world will set a new record for renewable power capacity this year led by solar energy in China and Europe, but growth could lose steam in 2023, the International Energy Agency said Wednesday. A record 295 gigawatts of new renewable power capacity was added in 2021 despite supply chain…

Axios · May 10, 2022

FDA says it is "doing everything in our power" to improve baby formula supply

The shortage has intensified in recent weeks due to supply chain issues and a devastating recall.

Benzinga · May 10, 2022

Dentsply Sirona's Q1 Earnings Miss Street Expectations, Cuts FY22 Guidance

Dentsply Sirona Inc's (NASDAQ:XRAY) Q1 FY22 sales decreased 6.1% Y/Y to $965 million, missing the consensus of $988.43 billion. Adjusted EPS decreased to $0.52 from $0.72 a year ago and missed the consensus of $0.56. "The first quarter was a challenging quarter, and our financial performance and revised outlook reflect the impact…

StockNews.com · May 10, 2022

2 Laser Stocks Wall Street Predicts Will Rally 60% or More

Despite various supply chain constraints and semiconductor shortages, the laser industry is expected to achieve significant growth in 2022, thanks to substantial demand from multiple sectors, including industrial, telecommunications, electronics, automotive, defense, and medical devices. And an increase in technological investments in these sectors should benefit the laser industry. So,…

InsideEVs · May 10, 2022

Supply Chain Issues May Keep Mercedes-Benz From Meeting Rising EV Demand

Mercedes’ CEO notes these issues “have been like an unwanted experiment” but says the manufacturer will try to get EVs in customers' hands as soon as possible.

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