VW H1 operating profit falls 11.6% on US ID.4 exit, China slump
Volkswagen’s first-half operating profit fell 11.6% to €5.93bn, driven by US ID.4 production exit costs and a 31.6% decline in China amid challenging market conditions.
Morning Bid: China chip champ
Chinese chipmaker CXMT surged nearly 500% in its Shanghai debut, becoming China’s most valuable stock. The $8.6 billion IPO reflects growing focus on chip sector amid geopolitical tensions.
Tesla misses on earnings, as free cash flow turns negative and margins slide
Tesla reported weaker-than-expected earnings for the second quarter as free cash flow turned negative and profit margins declined significantly, causing the stock to slide in extended trading.
Southwest Airlines’ third-quarter forecast falls short as fuel bill climbs
Southwest Airlines reported second-quarter profit growth but issued a disappointing third-quarter forecast below analyst expectations, citing elevated fuel costs despite recent fare increases.
Mobileye Stock Is Down Despite Strong Results as Its Founder Steps Down. View the CEO Switch as a Reset, Not a Red Flag.
Mobileye beat second-quarter earnings expectations and raised guidance, but shares fell 15% after founder-CEO Amnon Shashua announced his departure following 27 years leading the autonomous-driving company.
After 80 stores close, 63-year-old chain gives Chapter 11 warning
Leslie’s Pool Supply, a 63-year-old chain, closed 80 stores in March and is reportedly exploring Chapter 11 bankruptcy as it grapples with declining consumer discretionary spending in the luxury market.