Tencent (TCEHY, 0700.HK) — the parent company of social media app TikTok — shares are trading higher after announcing layoffs at video game developer Riot Games, joining the ranks of companies rolling out job cuts in 2024. Yahoo Finance Markets Reporter Josh Schafer cites Goldman Sachs' latest jobless claims analysis and what recent labor market trends could mean for the Federal Reserve's dual mandate. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Luke Carberry Mogan.
Tencent (TCEHY, 0700.HK) — the parent company of social media app TikTok — shares are trading higher after announcing layoffs at video game developer Riot Games, joining the ranks of companies rolling out job cuts in 2024.
Yahoo Finance Markets Reporter Josh Schafer cites Goldman Sachs' latest jobless claims analysis and what recent labor market trends could mean for the Federal Reserve's dual mandate.
For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Editor's note: This article was written by Luke Carberry Mogan.
Barrons.com
D.R. Horton stock is down 8.5% after the nation’s largest home builder reported mixed quarterly results, with earnings short of Wall Street’s forecasts but revenue ahead of expectations. D.R. Horton on Tuesday reported earnings of $2.82 a share on revenue of $7.73 billion in its 2024 fiscal first quarter ended Dec. 31. “Although inflation and mortgage interest rates remain elevated, our net sales orders increased 35% from the prior year quarter, as the supply of both new and existing homes at affordable price points remains limited, and demographics supporting housing demand remain favorable,” company chairman Donald R. Horton said in a statement.
Reuters
Stellantis aims to become leader in the commercial vehicle (LCV) market worldwide by 2030, by launching an "offensive" in North America and picking up opportunities in Asia, its chief executive said on Tuesday. "We need a few years, by the end of our 2030 business plan we have the potential to become market leader," CEO Carlos Tavares said in a press conference during his visit at the group's plant in the town of Atessa, in central Italy, Europe's largest van-making facility. The group sold 1.8 million commercial vehicles worldwide last year, up from 1.6 million units in 2022.
Read more --->