On Wednesday, Symbotic Inc (NASDAQ:SYM) announced a delay in filing its Annual Report on Form 10-K for the fiscal year ending September 28, 2024. The company cited the need for additional time to evaluate revenue recognition errors’ financial impacts and address related internal control weaknesses. The stock is down 31% in premarket trade. Also Read: Apple Faces Modest Growth As IDC Forecasts Smartphone Market Rebound These issues were initially identified in Symbotic’s recent earnings release.
Trump's tariffs in his first term did little to alter the economy, but this time could be different
Donald Trump loved to use tariffs on foreign goods during his first presidency. “There's going to be a lot more tariffs, I mean, he's pretty clear,” said Michael Stumo, the CEO of Coalition for a Prosperous America, a group that has supported import taxes to help domestic manufacturing. The president-elect posted on social media Monday that on his first day in office he would impose 25% tariffs on all goods imported from Mexico and Canada until those countries satisfactorily stop illegal immigration and the flow of illegal drugs such as fentanyl into the United States.
Urban Outfitters Stock Jumps as 'Remarkably Resilient' Consumer Drives Sales
Urban Outfitters shares jumped Wednesday morning after the company reported third-quarter results better than analysts had expected, thanks to rising sales across its non-Urban Outfitters brands.
French borrowing costs surge above Greece as stock market plunges
French borrowing costs have soared and the country’s stock market has slumped, as investors take fright at political chaos and mounting debts.
Asia likely to benefit from cheaper Canadian, Mexican oil if Trump imposes tariffs
SINGAPORE/LONDON (Reuters) -Oil producers in Canada and Mexico will likely be forced to reduce prices and divert supply to Asia if U.S. President-elect Donald Trump imposes 25% import tariffs on crude imports from the two countries, traders and analysts said. Two sources familiar with Trump's plan told Reuters that oil would not be exempted from potential tariff hikes on imports from Canada and Mexico, despite the U.S. oil industry's warnings that the policy could hurt consumers, industry and national security. Canada and Mexico are the top two petroleum exporters to the United States, contributing 52% and 11% of its gross imports, respectively, data from the U.S. Energy Information Administration showed.
5 Things to Know Before the Stock Market Opens
News of the day for Nov. 27, 2024
Stocks Down Pre-Bell Ahead of Key Inflation Report; Asia Gains, Europe Falls
The main US stock measures were pointing lower in Wednesday's premarket activity as traders await th