Manufacturing news

On Friday, auto parts manufacturers Autoliv Inc. (NYSE:ALV) and Gentex Corp (NASDAQ:GNTX) shares fell after announcing their most recent quarterly results. Both companies reported their FQ3 revenue and earnings before markets opened, missing estimates. Autoliv Autoliv posted FQ3 GAAP non-GAAP earnings per…

Mattel Inc (NASDAQ: MAT) shares are up more than 5.0% on Friday after the toy company reported market-beating results for its fiscal third quarter and raised its guidance for the full year. Highlights from CEO Kreiz interview with Bloomberg In an interview with Bloomberg, CEO Ynon Kreiz agreed…

IBM Corp (NYSE: IBM) is down a little under 10% on Thursday after the computer hardware company reported yet another miss on revenue last night, and Ritholtz Wealth Management’s Josh Brown says now is as good a time as any to sell the stock. Brown’s reasons to sell IBM…

On Thursday, Lam Research Corp (NASDAQ:LRCX) shares declined by 2.32% after announcing its most recent quarterly results. The company reported its FQ1 earnings Wednesday after markets closed, beating the average for analyst estimates. However, Lam’s revenue for the quarter fell short of expectations despite posting solid…

Tesla Inc (NASDAQ: TSLA) on Wednesday blamed supply chain challenges, and the global chip shortage as its revenue fell shy of estimates in the fiscal third quarter. Shares of the EV manufacturer are down more than 1.0% in after-hours trading. Q3 financial performance Tesla reported $1.6 billion in earnings…

Micron Technology Inc (NASDAQ: MU) will invest more than $150 billion in global manufacturing and R&D over the next decade, the semiconductor manufacturer said in a press release on Wednesday. The massive investment includes setting up a new $7.0 billion DRAM production plant in Hiroshima, Japan. CEO…

On Tuesday, Dover Corporation (NYSE:DOV) shares advanced by 2.54% after announcing its most recent quarterly results. The company reported its fiscal third-quarter revenue and earnings before the market opened, beating analyst expectations. Dover also boosted its FY2021 earnings forecast ahead of the consensus Street estimate.  The…

Toyota Motor Corp (LON:TYT) announced a $3.4 billion investment in the US automotive battery production market as it eyes the rapidly growing EV industry. The investment is part of the global layout of about $13.5 billion, with Toyota North America targeting US production by 2025. The…

Tesla Inc. (NASDAQ:TSLA) will announce its fiscal Q3 results on Wednesday after the market closes, with analysts expecting the automaker to report strong quarterly earnings and sales growth. Goldman Sachs analyst recently wrote a note to investors saying he expects the company’s…

BYD Company Ltd (SHE:002594) shares spiked nearly 12% last week amid rising interest in Chinese EV stocks. Investors pounced on Xpeng, Li Auto, and Nio, among others driving their stock prices higher.  Analysts suspect investors have shifted focus to Chinese automakers after…

On Thursday, Taiwan Semiconductor Manufacturing Co. Ltd (TAI:2330) shares spiked 3% after announcing its most recent quarterly results. The company reported its fiscal third-quarter revenue and earnings before markets opened, beating analyst expectations. TSMC also issued better-than-expected FQ4 revenue guidance. The company posted FQ3 -GAAP earnings…

Boeing Co. (NYSE: BA) has a new titanium defect it’s dealing with on its new Dreamliner airliner that’s still in the production phase. This defect is just one of the many production issues that have drawn increased regulatory scrutiny and delayed the delivery of aircrafts. According to some people close…

On Wednesday, Align Technology Inc. (NASDAQ:ALGN) shares declined by more than 5% after Stifel analyst Jonathan Block pointed to a declining sales trend in the company’s Invisalign cases. Align manufactures 3D digital scanners and the Invisalign clear aligners used in orthodontics. And…

On Wednesday, InMode Ltd (NASDAQ:INMD) shares spiked more than 12%, extending Tuesday’s gains. As a result, the stock is now up more than 21% this week after announcing better-than-expected preliminary Q3 results. InMode said it expects fiscal Q3 revenue in the range…

Shares of Sono-Tek Corporation (NASDAQ: SOTK) jumped 25% on Wednesday morning as investors welcomed strong results for its fiscal second quarter. The $87 million firm now has a PE ratio of 39.73. Financial performance Sono-Tek said its gross profit climbed by 28% in Q2 as net sales added more than…

On Tuesday, General Motors Co. (NYSE:GM) shares advanced 1.4% after a meeting with analysts from Wedbush sparked optimism. The firm said it was even more confident about GM’s turnaround plans for the electric vehicles market.  Wedbush said it expects General Motors to…

On Tuesday, Nike Inc. (NYSE:NKE) shares edged higher 1.2% after receiving a buy rating from Goldman Sachs. The firm initiated NKE coverage, saying the stock is undervalued whilst issuing a price target of $172.00 per share. Analyst Kate McShane and the Goldman…

LG Electronics (KRX: 066570) set to reimburse General Motors (NYSE: GM) nearly $1.9 billion or so. This reimbursement is for the fixing and recalling of the Bolt EVs made by Chevrolet because of the fire hazards caused by the faulty battery packs. The automaker is set to…

Cleveland-Cliffs Inc (NYSE: CLF) will buy Ferrous Processing and Trading Company (FPT), including certain related entities, for about $775 million, the Ohio-based steelmaker revealed in a press release on Monday.   Cleveland shares jumped more than 6.0% on the news this morning. The $10.86 billion company now has…

Tesla Inc (NASDAQ: TSLA) is moving its headquarters from California to Texas, CEO Elon Musk disclosed in the annual investor meeting last night. Tesla is not completely abandoning California The leading U.S. electric car manufacturer is already building a Giga factory in its new home town. The first Model…

On Thursday, Nio Inc. (NYSE:NIO) shares spiked 7% after Goldman Sachs (NYSE:GS) analysts upgraded the stock to buy from neutral. The firm also issued a price target of $56, implying an upside potential of more than 60%. The analyst thinks the EV maker’s ET7 model is…

On Wednesday, RPM International Inc. (NYSE:RPM) shares edged slightly higher after announcing its most recent quarterly results. The company reports its fiscal Q1, 2022 revenue and earnings before markets opened, beating analyst expectations. RPM posted FQ1 non-GAAP earnings per share of $1.08, beating the consensus Street…