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The Latest Breaking News from Supply chain

Some Rivian R1S Reservation Holders Hit With New Delivery Delays

Rivian sent a letter to R1S reservation holders on June 11 informing them of delivery delays caused by the supply chain crisis and its service infrastructure.

InsideEVs

Updated Mayo Clinic recommendations for infant formula shortage

Since the outbreak of COVID-19, there have been significant shortages of infant formulas in some stores, largely caused by supply chain issues, as well as a recent recall of several contaminated baby formula products.

Tribune News Service

Asian Stocks Sink again as Inflation Panic Grips World Markets

Equity markets tumbled again Tuesday to extend a global rout fueled by fears of recession, with the Federal Reserve preparing to ramp up interest rates as inflation shows no sign of slowing. Panic has swept through trading floors since data on Friday showed US consumer prices rising at their fastest…

Asharq Al-Awsat

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South Korea truckers’ strike threatens to disrupt computer chip production

Stoppage by drivers is preventing the flow of key components in the tech industry and could add to global supply chain problems

The Guardian - AU

Wells Fargo Bumps Up Greif's Price Target By 3%

Wells Fargo analyst Gabe Hajde raised the price target for Greif, Inc (NYSE:GEF) to $73 from $71 while maintaining the Overweight rating on the shares. The analyst increased the price target reflecting on what he believes to be the solid operational execution. Despite persistent supply chain challenges, Hajde is encouraged to see another quarter of…

Benzinga

GlobalFoundries-STMicro Discuss Partnering For Chip Plant In France

GlobalFoundries Inc (NASDAQ:GFS) and STMicroelectronics N.V. (NYSE:STM) are amid discussions to build a semiconductor factory in France with the help of government funds, Bloomberg reports. The European Commission looks to produce 20% of the world’s chips by 2030. The European Union executive arm proposed the 43 billion euro ($45.3 billion) Chips Act earlier to…

Benzinga

Poor working conditions persist in Leicester garment factories, finds survey

Research was funded by Boohoo amid effort to clean up sector after complaints about supply chain practices

The Guardian - UK

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Business optimism sinks to lowest level in over a year

Business optimism has dropped to its lowest level since March 2021 as firms weigh the prospect of continued inflationary pressure and supply chain disruption in the months ahead.

Evening Standard

It's not just you: Tampons are harder to find — and pricier

Many women say store shelves that once had the menstrual essentials have been sparse for months. When they are available, tampons have been a lot more expensive recently, due in part to inflation.

WEKU

Supply chain issues and higher demand are driving a tampon and menstrual product shortage

Axios

Climate crisis is ‘battering our economy’ and driving inflation, new book says

Climatenomics lays out how ‘supply chain disruptions’ has become a euphemism for the effects of climate change

The Guardian - US

Scouring Chicago alleys for scrap metal is a hard way to make a living. Just ask Francisco Garcia.

Their trucks piled high with pipes and old refrigerators, scrap metal collectors like Garcia, 71, from Pilsen, help put discarded waste back into the supply chain.

Chicago Sun-Times

Credit Suisse Cuts REV Group Price Target By 9%

Credit Suisse analyst Jamie Cook lowered the price target on REV Group Inc (NASDAQ:REVG) to $10 from $11 while maintaining the Underperform rating on the shares. The analyst stated that within the quarter, REVG did not experience supply chain improvement as expected, and in some instances, the situation worsened. REVG now expects supply chain challenges…

Benzinga

NiSun Shares Jump On Share Buyback Approval

NiSun Intl Enterprise Development Group Co, Ltd's (NASDAQ:NISN) board approved a share buyback of up to $8 million. The share buyback program will be effective in June 2022 and will likely last through the next six months. NiSun held $91.6 million in cash and equivalents as of December 31 and generated $23.9 million in operating…

Benzinga

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Benzinga

China's Xiaomi, Realme, Honor Gained Market Share At Apple's Expense Following US Sanctions On Russia - Here's How

China saw a significant market share jump in the Russian smartphone market in May as manufacturers like Apple Inc (NASDAQ:AAPL) and Samsung Electronics Co, Ltd (OTC:SSNLF) paused new sales in the country following its Ukraine invasion, Reuters reports. Chinese manufacturers Xiaomi Corp (OTC:XIACY), Realme, and Honor accounted for 42% of Russia's smartphone sales in May 2022, up…

Benzinga

Rayonier Advanced Materials Reaffirms Commitment To Debt Reduction

Rayonier Advanced Materials Inc (NYSE:RYAM) updated its FY22 Adjusted EBITDA guidance to ~$160 million, subject to supply chain volatility and timing of sales recognition. The company delivered $128 million of Adjusted EBITDA in FY21. "With the completion of the planned maintenance outages at all four of our manufacturing facilities by the end of…

Benzinga

Kennametal Names Patrick Watson As Finance Chief

Kennametal Inc. (NYSE:KMT) appointed Patrick S. Watson as Vice President and Chief Financial Officer (CFO), effective immediately. He is currently Vice President of Finance and Corporate Controller. Watson succeeds Damon Audia, who is leaving to pursue another opportunity. Watson has over 25 years of global finance and business experience. Before Kennametal, he held…

Birmingham Post

North East offshore firms selected for offshore cleantech accelerator programme

The Launch Academy North East is a seven month project designed to boost the region's offshore wind supply chain industry

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The Guardian - AU

Global supply chain crisis fuels push to local manufacturing as China’s appeal dims

Analysis: US to examine with fresh urgency easing reliance on China as pandemic disruptions expose global economic vulnerabilities

Benzinga

Krispy Kreme Looks For New CFO; Promotes Josh Charlesworth To New Role

Krispy Kreme Inc (NASDAQ:DNUT) has promoted Josh Charlesworth to Global President and Chief Operating Officer. This newly created role will oversee the expansion of the company's global footprint and growth strategy. Charlesworth has served as Krispy Kreme's CFO since April 2017 and COO since May 2019. The company has engaged a search firm…

StockNews.com

Is United Rentals a Good Growth Stock to Buy?

United Rentals (URI) reported better-than-expected first-quarter 2022 results and raised its full-year guidance. But it is expected to suffer from inflationary environment and supply chain issues. So, let’s evaluate if it is wise to bet on the stock now.

Benzinga

Daktronics Clocks 39% Sales Growth In Q4; Warns On Volatile Supply Chain, Labor Conditions

Daktronics, Inc. (NASDAQ:DAKT) reported fourth-quarter FY22 net sales growth of 38.8% year-over-year to $162.2 million, beating the consensus of $146.10 million. Orders for the quarter increased 67% Y/Y. The gross margin was 18.5% for Q4 compared to 23.6% a year earlier, and the operating margin was breakeven, compared to 1% for 4Q21. EPS…

Birmingham Post

Motorhome sales pull back to near pre-pandemic levels for Auto-Trail

Demand outstrips delivery with directors smarting over Covid-linked supply chain issues that stifled even higher growth

StockNews.com

3 Undervalued Growth Stocks in the Semiconductor Industry

COVID-19 pandemic-led supply chain issues significantly disrupted the semiconductor industry. However, the industry is now rebounding strongly, and given semiconductors varied uses across sectors, the industry’s prospects look impressive. Against this backdrop, we think growth stocks in the semiconductor industry that currently look undervalued—Micron Technology (MU), United Microelectronics (UMC), and…

Benzinga

TreeHouse Foods Finance Head Steps Down; Reaffirms FY22 Outlook

TreeHouse Foods Inc's (NYSE:THS) Executive Vice President and Chief Financial Officer William J. Kelley Jr. will step down to pursue another professional opportunity. To assist with the transition, Kelley will remain with TreeHouse through June 30, 2022. He will be succeeded on an interim basis by Chief Accounting Officer Patrick O'Donnell. The company…

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