Cigna expects revenue gains from launches of Humira biosimilars

By Leroy Leo (Reuters) -Cigna Corp expects its pharmacy benefit management unit to earn more from the second half of 2023 as makers of cheaper versions of AbbVie Inc’s arthritis drug Humira will boost aftermarket discounts to gain access to patients. Amgen Inc launched a biosimilar version of Humira called Amjevita in the United States […]

AMD revenue beats targets, Wall St relieved after Intel’s grim outlook

By Chavi Mehta and Jane Lanhee Lee (Reuters) -U.S. chip maker Advanced Micro Devices Inc on Tuesday posted revenue that beat Wall Street targets and said it expected business to improve in the second half, enthusing investors who saw the company gaining on rival Intel. Shares rose about 1.5% in after hours trading. Although AMD’s […]

EU commissioner: we don’t want a subsidy war with U.S

BERLIN (Reuters) – The European Union does not want to wage a subsidy war against the United States over its Inflation Reduction Act, EU Commissioner Paolo Gentiloni said in Berlin on Tuesday. The EU Commission plans to present a package to promote European industry on Wednesday in response to the U.S. government’s 370-billion-dollar subsidy package […]

Falling costs may boost McDonald’s, other restaurant profits in 2023

By Hilary Russ NEW YORK (Reuters) – With the cost of butter plunging nearly 16% in a month and wholesale broiler chickens getting cheaper, some big restaurant chains including McDonald’s and Starbucks are likely to tell investors that their restaurants will be more profitable this year. When it reports fourth quarter earnings on Tuesday, McDonald’s […]

Germany’s Bosch to Increase Stake in Sweden’s Husqvarna to 12%

BERLIN (Reuters) – Bosch has agreed to increase its shareholding in Sweden’s Husqvarna to roughly 12%, making it one of the biggest shareholders, in a move to strengthen their battery alliance, the German auto parts maker said. Shares in Husqvarna, a garden equipment company, gained as much as 16% on Friday following the announcement. At […]

Oil settles up 2% on strong U.S. data, China reopening

By Scott DiSavino NEW YORK (Reuters) – Oil prices rose about 2% on Thursday on expectations that global demand will strengthen as top oil importer China reopens its economy and on positive U.S. economic data. Brent futures rose $1.35, or 1.6%, to settle at $87.47 a barrel, while U.S. West Texas Intermediate (WTI) crude rose […]

Boeing reports loss, but first positive free cash flow since 2018

By Valerie Insinna and David Shepardson WASHINGTON (Reuters) -Boeing Co losses widened for 2022 on weakness in its defense unit as it warned of further supply chain issues, but the U.S. planemaker reported its first yearly positive cash flow since 2018. The U.S. planemaker missed Wall Street expectations on revenue and earnings per share in […]

U.S. raises ‘grave concerns’ over Mexico’s anti-GMO farm policies

By Kanishka Singh and Tom Polansek WASHINGTON (Reuters) -U.S. farm and trade officials raised “grave concerns” over Mexico’s agricultural biotechnology policies in meetings with their Mexican counterparts on Monday, as lingering disagreements threaten decades of booming corn trade between the neighbors. Washington’s concerns center on the Mexican president’s push to ban so-called biotech corn, or […]

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AMD revenue beats targets, Wall St relieved after Intel’s grim outlook

February 1, 2023

By Chavi Mehta and Jane Lanhee Lee (Reuters) -U.S. chip maker Advanced Micro Devices Inc on Tuesday posted revenue that beat Wall Street targets and said it expected business to improve in the second half, enthusing investors who saw the company gaining on rival Intel. Shares rose about 1.5% in after hours trading. Although AMD’s […]
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