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The Latest Breaking News from Supply chain

Asian Markets Rise as Recession Talk Tempers Rate Hike Expectations

Stocks rose in Asia on Friday following another rally on Wall Street as investors try to process central bank moves to fight soaring inflation with the growing possibility that those measures will induce a recession. Global markets have been thrown into turmoil for months by a perfect storm of crises…

Asharq Al-Awsat

Congress sends school meal waivers bill to Biden, but free meals are over for many

Congress passed an extension for some of the school meal waivers that supported families and schools during the pandemic, but they'll end for many who got free meals for the last two years.

WEKU

4 "Strong Buy" Industrial Stocks to Pull the Trigger on

Although high commodity prices and supply chain disruptions are troubling the industrial sector lately, strong demand for industrial goods and favorable government policies to boost domestic production should help it stay afloat. Therefore, quality industrial stocks, Core Molding Technologies (CMT), Hillenbrand (HI), Quanex Building Products (NX), and Ryerson (RYI), could…

StockNews.com

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Canada to provide C$250 million to U.N. to address global food crisis, says Trudeau

Canada will provide C$250 million ($193 million) to the United Nations to address a food crisis exacerbated by supply chain constraints and high inflation after Russia's invasion of Ukraine, Prime Minister Justin Trudeau said on Thursday.

Reuters

Methode Electronics Clocks 4% Revenue Decline In Q4 Due To Lower Sales Volumes In Auto Segment

Methode Electronics, Inc (NYSE:MEI) reported a fourth-quarter FY22 net sales decline of 4.1% year-on-year to $288.7 million, missing the consensus of $289.5 million. The decrease was due to lower sales volumes in the Automotive segment due to supply chain constraints and the conflict in Ukraine. EPS of $0.43 missed the consensus of $0.56.…

Benzinga

Andhra Pradesh: Volvo Group launches ‘green castings’ for its engines in Tirupati

TIRUPATI

The Hindu

Read How LightInTheBox Fared In Q1

LightInThe Box Holding (NYSE:LITB) reported a first-quarter FY22 sales decline of 16.3% year-on-year to $93.8 million. Apparel sales increased 13.7% Y/Y to $67.2 million, representing 71.7% of total revenue. The gross margin for the quarter expanded 410 basis points to 50.7%. Loss from operations was $(6.4) million compared to an operating income of…

Benzinga

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Why Apogee Enterprises Shares Are Gaining Today

Apogee Enterprises Inc (NASDAQ:APOG) reported first-quarter FY23 sales growth of 9% year-over-year to $356.6 million, beating the consensus of $328.59 million. Revenue by segments: Architectural Framing Systems $163.3 million (+19% Y/Y); Architectural Glass $76.3 million (-8.1% Y/Y); Architectural Services $103.4 million (+14% Y/Y); and Large-Scale Optical $25.2 million (+4% Y/Y). The gross…

Benzinga

Real reason 99 ice creams are called 99s - and it's got nothing to do with the price

No 99 is complete without a Flake, despite a shortage expected for a second year in a row due to supply chain issues.

Irish Mirror

Elon Musk says his German and US factories are losing “billions of dollars”

The impact of supply chain problems in China on Tesla’s new battery factories in the US and Germany mean they are losing billions of dollars, according to the company’s multi-billionaire founder.

Evening Standard

Leisuretown: Diplo And Rob Dyrdek's New Cannabis Seltzers Launch In California Via Agreement With HERBL

Thomas Wesley Pentz, better known for his artistic name, Diplo, partnered with California cannabis beverage company Leisuretown, professional skateboarder Rob Dyrdek and cannabis supply chain company HERBL, to launch a new line of cannabis drinks under the Leisuretown brand name.

Benzinga

SEC's climate rule heats up debate on supply chain emissions - Roll Call

The business world is divided over whether the SEC should require disclosure of Scope 3 emissions, or those from a company's supply chain.

Roll Call

Harrods delays summer discount sale due to global supply chain issues

Supplies are running ‘two to three weeks’ behind, a situation the store says has been exacerbated by post-Brexit staff shortages

The Guardian - UK

The troubled Brexit legacy begins to become clear six years on from the referendum

Standard City Voices: The slow-burn impact of Brexit

Evening Standard

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Birmingham Post

Offshore wind industry told how consenting work and supply chain growth will aid acceleration

Ministerial address at RenewableUK's Global Offshore Wind event

Benzinga

Winnebago Industries Q3 Earnings Top Estimates; Warns On Inflation Pressures

Winnebago Industries Inc (NYSE:WGO) reported third-quarter FY22 sales growth of 52% year-on-year, to $1.46 billion, beating the consensus of $1.20 billion. Towable segment revenue grew 45% Y/Y to $805.6 million, driven by pricing increases and solid unit growth due to a strong dealer order backlog. Motorhome revenue of $516.3 million increased 34% Y/Y.…

Benzinga

Read Why This Analyst Cut Bed Bath And Beyond's Price Target By 60%

Telsey Advisory Group analyst Cristina Fernández lowered the price target on Bed Bath & Beyond Inc (NASDAQ:BBBY) to $6 from $15, implying a 10.45% downside. The analyst maintained an Underperform rating on the shares. The analyst is taking a subdued view due to more negative commentary from mass retailers like Big Lots, Inc. (NYSE:BIG), Target Corp (NYSE:TGT), and Walmart Inc (NYSE:WMT)…

Benzinga

Options Traders Expect Tesla To Zoom Ahead

Shares of Tesla Inc (NASDAQ: TSLA) spiked on Tuesday after the company announced layoffs amid supply chain bottlenecks.

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Benzinga

Benzinga Before The Bell: Executive Shakeup At Amazon, Boeing Supply Chain Warning, Apple's Tim Cook Says 'Stay Tuned' On AR/MR And Other Top Financial Stories Wednesday, June 22

CNBC Moderna To establish New Vaccine Facility In Britain

Benzinga

Boeing Says Supply Chain Issues To Persist Through Majority Of 2023

Boeing Co (NYSE:BA) expects supply chain problems to persist almost until the end of 2023, led by labor shortages at mid-tier and smaller suppliers, partly due to the faster-than-expected return of demand, reported Reuters, citing BA's chief executive on Wednesday. "The shift from demand to now supply issues ... is remarkable, the…

StockNews.com

Which Stocks Should You Consider As Recession Hits Retail?

Retail companies have faced multiple headwinds of late, including multi-decade high inflation and persistent supply chain disruptions. With recession fears looming, many retail companies have lowered their guidance for the current year. However, not all stocks are expected to be weighed down by the recession. Kroger (KR) has raised its…

Benzinga

Mizuho Sees Qualcomm, Qorvo, Skyworks Well Positioned For Global 5G Ramps Amid Odds - Read Full Take

Mizuho analyst Vijay Rakesh reiterated Buy on Qualcomm Inc (NASDAQ:QCOM), Qorvo, Inc (NASDAQ:QRVO), and Skyworks Solutions, Inc (NASDAQ:SWKS). However, he slashed the price targets of Qualcomm from $185 to $168 (34% upside), Qorvo from $128 to $110 (12% upside), and Skyworks from $170 to $150 (62% upside). His checks into the handset supply chain indicated downside risk…

Benzinga

FedEx Takes 150 Electric Vehicle Delivery From BrightDrop; More To Come

FedEx Corp (NYSE:FDX) has received its first 150 electric delivery vehicles from BrightDrop, the technology startup from General Motors Co (NYSE:GM) decarbonizing last-mile delivery. The move marks a crucial milestone for FedEx, which plans to transform its entire parcel pickup and delivery (PUD) fleet to all-electric, zero tailpipe emissions by 2040. "In just under…

Axios

Law banning Xinjiang products goes into effect

If strictly implemented, the law could reroute certain global supply chains away from China.

The Independent UK

Why is the US facing a tampon shortage?

Sanitary products become latest everyday essential to be hit by supply chain disruption

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