Category: Business

Krispy Kreme (DNUT.O) shares fell 4% in a tepid Nasdaq debut on Thursday, valuing the maker of the “Original Glazed” doughnut at $2.62 billion in its return to stock market five years after it was taken private. The stock opened at $16.30, lower than its $17 initial public offering price. Krispy Kreme had priced its […]

The upbeat forecast from the non-partisan CBO was mirrored by a sharply higher forecast for U.S. economic output from the International Monetary Fund, which raised its projection for U.S. gross domestic product growth to 7% from 6.4%. The White House welcomed both of the rosy projections – along with others in recent weeks from the […]

Raytheon Technologies Corp (RTX.N) has been awarded an about $2 billion contract by the U.S. Air Force to develop and make a nuclear-armed cruise missile, the U.S. aerospace maker said on Thursday. The long-range standoff weapon (LRSO) will be manufactured in Tucson, Arizona, and is expected to be completed in February 2027, Raytheon said. It […]

U.S. automakers on Thursday reported a sharp rise in quarterly sales on strong demand for SUVs and pointed to the trend continuing into 2022, as more people shift to private conveyance and new electric vehicles (EVs) line up for launch. Higher vehicle prices have boosted profitability for automakers, who have also increased investments in EV […]

The S&P 500 was on its way to its sixth consecutive all-time closing high on Thursday, as investors greeted a new quarter and the second half of the year in a buying mood. The blue-chip Dow joined the bellwether S&P in positive territory, but a decline in tech shares – led by microchips – helped […]

Chinese electric vehicle maker Xpeng’s American Depositary Receipts will be added to FTSE Russell’s global equity indexes on July 8, the index publisher said. Xpeng shares will be included in the FTSE All-World Index, the FTSE Global Large Cap Index, and the FTSE Emerging Index, FTSE Russell said in a statement on its website. The […]

Qualcomm Inc’s (QCOM.O) new chief thinks that by next year his company will have just the chip for laptop makers wondering how they can compete with Apple Inc (AAPL.O), which last year introduced laptops using a custom-designed central processor chip that boasts longer battery life. Longtime processor suppliers Intel Corp (INTC.O) and Advanced Micro Devices […]