Uber Technologies Inc is in talks to sell its autonomous driving unit, Uber Advanced Technologies Group (ATG), to selfdriving car startup Aurora, a source familiar with the matter told Reuters.Walt Disney Co's rapidly growing streaming video business and a partial recovery at its theme parks gave investors fresh hope on Thursday that the entertainment company had put the worst of the coronavirus pandemic behind it.The European Union's decision to impose tariffs of 15% on Boeing Co planes is a threat to the deployment of the manufacturer's jets in Europe, the chief executive of aircraft lessor Air Lease Corp said on Monday.Value stocks notched their best oneday performance against their growthfocused peers ever, by one measure, after Monday's news of an effective vaccine against the coronavirus sent investors into shares of companies expected to benefit the most from an economic recovery.Europe's Airbus booked 72 jet deliveries in October, approaching last year's monthly pace for the first time since the start of the coronavirus crisis and easing concerns over a cashdepleting overhang of unwanted jets.Toyota Motor Corp will likely more than double its fullyear operating profit forecast when it reports second quarter earnings on Friday as vehicle sales rebound in the United States and China, the Mainichi daily reported.TMobile US Inc on Thursday added more phone subscribers than analysts had expected in the third quarter, as demand for its services picked up with people staying at home due to the COVID19 pandemic.Qualcomm Inc forecast fiscal firstquarter revenue above Wall Street estimates on Wednesday as it predicted sales of 5G smart phones would balloon to more than half a billion units next year, powered in part by new Apple Inc iPhone 12 models.Qualcomm Inc forecast fiscal firstquarter revenue above Wall Street estimates on Wednesday, as it ramps up chip sales for Apple Inc's 5G iPhone models.
A Biden administration would likely push for even more stimulus for consumers and small businesses because of the Covid-19 pandemic -— especially if a blue wave gives Democrats control of the Senate.
Traders are looking at the contest largely through the prism of the election's impact on the US response to the pandemic, particularly the possibility that a political rebalancing could get Congress and the White House to agree on a new economic stimulus package.
Orlando (US) (AP) Walt Disney World says it plans to lay off more than 11,000 unionized workers because of the new coronavirus, bringing the total number of pandemic-related job casualties at the Florida resort to almost 18,000 positions. Disney World said in a letter to state and local leaders Thursday that the 11,350 union workers mostly part-timers will be laid off at the end of the year. Company officials previously had said that another 6,400 nonunion Disney employees in Florida would lose their jobs..Twitter Inc on Thursday widely beat analyst expectations for quarterly revenue as ad sales rose with the return of sports and other events, but it added fewer users than Wall Street had expected.Starbucks Corp forecast 2021 earnings largely above estimates on Thursday, helped by strong online orders and a recovery in demand following the initial hit from the COVID19 pandemic.Twitter Inc on Thursday added fewer users than Wall Street had expected and said a rise in expenses would accelerate in the fourth quarter, sending its shares tumbling 16%.
Alphabet rallied, Apple sank and Twitter tumbled on Thursday after a mixed bag of quarterly reports from toptier technology companies that investors have relied on this year to power a stock market rally through the coronavirus pandemic.The world's largest planemaker Airbus has taken the industry by surprise by asking suppliers to prepare for a sharp increase in production after the coronavirus crisis yet at the same time it quietly delayed its timetable for recovery.Hong Kong's Cathay Pacific Airways Ltd said on Wednesday it would cut 5,900 jobs and end its regional Cathay Dragon brand as it grapples with a plunge in demand from the coronavirus pandemic.Seven auto companies have plans to roll out new batterypowered pickup trucks over the next two years, aiming to cash in on a popular and lucrative market for expensive vehicles.Oil prices rose slightly in early trade on Thursday after data showed U.S. crude stockpiles fell last week, adding to 2% gains overnight, as OPEC and its allies were seen fully complying in September with their pact to curb output.
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