Companies & CEOs
Nike reports second biggest revenue growth in more than a decade - 12/21/2022
Nike Inc reported its second-largest quarterly revenue increase in more than a decade, which easily outperformed analysts' earnings estimates, thanks to strong demand for sportswear and footwear in North America ahead of the holidays. After the close of the regular trading session on Tuesday, shares in the world's largest sportswear manufacturer were up 13%. During the quarter, the company used...
Tesla's market cap falls below oil giant ExxonMobil - 12/21/2022
According to stock exchange data, Tesla's market capitalization fell below that of oil giant ExxonMobil last week, to $435.14 billion. ExxonMobil, on the other hand, was valued at $439.38 billion in dollar terms during trading on Tuesday. Before the start of regular stock trading, Tesla shares were up 0.92 percent, and ExxonMobil shares were up 0.3 percent. At the same time, futures for the...
Fitch upgrades BP’s rating outlook to positive - 12/16/2022
According to a press release from the international rating agency Fitch Ratings, the outlook on the rating of UK oil major BP plc has been changed from stable to positive. The company's short-term rating was raised from "F1" to "F1+," but the long-term Issuer Default Rating (IDR) was maintained at "A." The optimistic view, according to Fitch analysts, "reflects a considerable reduction in debt...
Saudi Aramco and TotalEnergies to jointly build petrochemical complex - 12/16/2022
According to a joint announcement from the two corporations, Saudi Aramco and France's TotalEnergies will collaborate to establish a petrochemical complex in Saudi Arabia. A world-scale petrochemical complex will be built in Saudi Arabia, according to a statement from Saudi Arabian Oil Company (Aramco) and TotalEnergies. The facility will be called Amiral. The complex will be connected with the...
Bloomberg: SpaceX valued at $140B - 12/14/2022
According to sources who spoke to Bloomberg, Elon Musk's SpaceX has priced its shares at $77 each, implying that the company is now worth $140 billion. Bloomberg’s source report that Elon Musk's SpaceX is offering private investors shares of the company for $77 each. As a result, SpaceX is now the most valuable private corporation in the United States with a valuation of $140 billion. According...
Microsoft purchases London Stock Exchange Group papers - 12/13/2022
As part of a 10-year strategic collaboration, Microsoft Corp. will purchase a 4 percent share in the London Stock Exchange Group (LSEG). The agreements, according to a press statement, will enable the business to expand into data, analytics, and cloud infrastructure. Microsoft stated that it would purchase shares in the Blackstone/Thomson Reuters consortium to acquire around 4% of LSEG. Subject...
Fitch affirms TotalEnergies and Shell ratings at "AA-" - 12/08/2022
Fitch rating agency confirmed the "AA-" long-term issuer default ratings (IDR) of the Anglo-Dutch energy corporation Shell and the French oil and gas company TotalEnergies. The outlooks for these firms' ratings are unchanged. According to the rating agency, "TotalEnergies' ratings are supported by large-scale international activities, solid company diversity, and a stable financial profile."...
TSMC to invest $40B in its U.S. advanced chip plant - 12/07/2022
The largest chip manufacturer in the world, TSMC of Taiwan, stated that it will increase its investment in its Arizona manufacturing facility, which will create some of the most cutting-edge chips ever. Early in November, it was revealed that TSMC will invest $12 billion to increase production at its current Arizona factory. The business noted in its release today that the Arizona facility is...
Airbus: We will not be able to reach projected aircraft deliveries in 2022 - 12/07/2022
According to a press release from the firm, the European aircraft manufacturer Airbus won't be able to meet its anticipated level of deliveries in 2022. "Given the 68 aircraft delivered in November and the difficult operating climate, Airbus feels it will be impossible to meet its target of 700 deliveries by 2022. No major deviation from the aim is anticipated in the final figure," the business...
Total to cut investments in North Sea by 25% because of UK excess profits tax - 12/06/2022
Due to the recently increased excess profits tax in the UK, French oil and gas giant TotalEnergies will reduce its expenditures in North Sea projects by 25% in 2023. The managing director of TotalEnergies UK, Jean-Luc Guiziou, made this announcement in an interview with Energy Voice. The projects will get a reduction of £100 million from the company's original plan to invest £400 million ($490...
