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On January 29th, Tesla reported a 3% drop in fourth-quarter revenue, losing its title as the worlds largest electric vehicle manufacturer to BYD. Tesla reported quarterly revenue of $24.9 billion. Full-year 2025 revenue is projected at $94.8 billion, a 3% year-over-year decrease. Net income was $840 million, a 61% year-over-year decrease. Non-GAAP earnings per share were $0.50, exceeding analysts expectations of $0.45. Free cash flow for the quarter was $1.4 billion, a 30% year-over-year decrease due to Teslas significant investments in robotics and artificial intelligence research, but this result was still better than the generally negative expectations of analysts. Teslas stock price rose more than 3% in after-hours trading. Furthermore, Tesla announced a $2 billion investment in xAI, indicating the companys increasing focus on artificial intelligence.Muyuan Foods Co., Ltd. announced that it plans to issue 273.9 million H shares in Hong Kong (subject to the exercise of the over-allotment option), with a maximum price of HK$39 per share. Trading of the shares is expected to begin on February 6.On January 29th, Meta Platforms (META.O) released its fourth-quarter earnings report and gave stronger-than-expected sales guidance, causing its stock price to rise 10% in after-hours trading. The company reported earnings per share of $8.88 for the fourth quarter, exceeding the expected $8.23. Revenue reached $59.89 billion, surpassing the estimated $58.59 billion. The company stated that its advertising business generated $58.1 billion in revenue for the quarter, accounting for nearly 97% of its total revenue. Daily active users in the fourth quarter reached 3.58 billion, in line with Wall Street expectations. Meta indicated that it expects first-quarter sales to be between $53.5 billion and $56.5 billion, higher than analysts estimates of $51.41 billion.On January 29th, Microsoft (MSFT.O) shares fell as much as 8% in after-hours trading on Wednesday, despite the tech giant reporting better-than-expected second-quarter results. Microsoft reported adjusted earnings per share of $4.14 and revenue of $81.3 billion. Analysts surveyed by FactSet had expected earnings per share of $3.91 and revenue of $80.3 billion. Investors were likely reacting to the companys performance in its Azure cloud service. Azure revenue grew 39% in the quarter. This figure exceeded Wall Streets expectations of 37.8%, but was slightly lower than the 40% growth rate in the first fiscal quarter.US Treasury Secretary Bessenter: Increased Venezuelan crude oil supply means lower gasoline prices.

US Restricts Exports To Russian and Belarusian Firms

Aria Thomas

Apr 02, 2022 09:17

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The Commerce Department said Friday's move intends to "degrade Russian and Belarusian military, aerospace, marine, and other vital sectors in reaction to Russia's savage attack on Ukraine's sovereignty."


The White House contended that the limits would help prevent equipment and software from reaching Russia's and Belarus' military sectors.


"These parties are effectively isolated from the inputs required to maintain Putin's war," Commerce Secretary Gina Raimondo said in a statement.


The regulations are based on a major extension of the so-called Foreign Direct Product Rule, which requires enterprises manufacturing high- and low-tech things abroad using American equipment to get a license from the US prior to exporting to Russia.


Additionally, the measures direct the Commerce Department to refuse virtually all of those licensing applications.


The Commerce Department added 260 organizations to the entity list as a result of Russia's invasion of Ukraine, which Russia describes as a "special operation."

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