By Christy Santhosh and Puyaan Singh(Reuters) -Medical device maker Abbott Laboratories (NYSE:ABT) maintained its annual profit forecast on Wednesday and said it expected the U.S. tariffs to hit earnings by a "few hundred million dollars".Shares rose 6% in morning trade, as the company also announced $500 million in new investments in manufacturing and research projects in Illinois and Texas.The ...
Investing.com -- JP Morgan downgraded U.S. Steel to “Neutral” from “Overweight” and cut its price target to $38 from $43, citing softening demand outlook, potential auto-related tariff risks, and uncertainty around the pending takeover by Japan’s Nippon Steel.The firm said it expects construction demand to face pressure, while auto and appliance demand remain stable near term. Howev ...
On Wednesday, the World Trade Organization (WTO) announced a significant revision of its global merchandise trade forecast, projecting a downturn of 0.2% for the current year. This marks a stark contrast to the 3.0% growth anticipated in October. The revised forecast is based on the current trade measures as of the start of this week.The WTO attributed the downward revision to the potential reintr ...
Investing.com -- Google parent Alphabet Inc. (NASDAQ:GOOGL) stock fell 2.2% in premarket trading following news of a class action lawsuit in the U.K. that could result in damages exceeding £5 billion ($6.6 billion). The tech gian is accused of abusing its dominance in the online search market, leading to higher prices and stifling competition.The lawsuit, filed on Wednesday in the U.K. Competitio ...