) forecast current-quarter profit above estimates on Thursday as soaring travel demand drove expectations of a strong summer season, sending its shares up.) plane that suffered a mid-air cabin blowout in January, also reported a smaller loss in the first quarter, despite a US$162-million impact from the more-than-two-week grounding of its 737 MAX 9 aircraft.
The Seattle, Washington-based airline would have reported an adjusted pre-tax profit of about US$5-million for the quarter, absent the groundings of its MAX 9 jets. The largest U.S. homebuilder now expects full-year revenue in the range of US$36.7-billion to US$37.7-billion, compared with its prior forecast of US$36.0-billion to US$37.3-billion.
The Texas-based homebuilder now expects full-year home deliveries in the range of 89,000 homes to 91,000 homes, above its prior forecast of 87,000 homes to 90,000 homes. The loan, announced last month, is a key part of the Biden administration’s effort to reduce dependence on lithium supplies from China. The mine is slated to open later this decade and be a key supplier to General Motors.
Lion Electric says the job cuts and cost reductions announced Thursday combined with the announcements in November 2023 and February this year are expected to result in annualized savings of about $40-million.) started lower on reports it is set to get more than US$6-billion in grants from the U.S. Commerce Department to help pay for domestic chip factory projects.
Over the past few months, Mr. Biden has announced several funding initiatives, including nearly US$20-billion in loans and grants for Intel , the world’s largest chipmaker and a major Apple and Nvidia supplier, was down despite forecasting second-quarter sales may rise as much as 30 per cent as it rides a wave of demand for semiconductors used in artificial intelligence applications.
TSMC has benefited from the AI wave that has helped it weather the tapering off of COVID-19 pandemic-led electronics demand and pushed the company’s stock to a record. “Looking at 2024, macro economy and geopolitical uncertainties persist, which could further affect consumer confidence and end-market demand,” TSMC said in a statement.
The company announced last week it would expand its planned investment in chip production in Arizona by US$25-billion to US$65-billion and to add a third fabrication plant there by 2030.), the world’s largest private equity firm, slipped after it said on Thursday that its first-quarter distributable earnings rose 1 per cent year-on-year supported by growth in fee-related earnings that was partly offset by a decline in income from asset divestments.
During the quarter, Blackstone’s opportunistic real estate funds were flat at 0.3 per cent, corporate private equity funds appreciated by 3.4 per cent, liquid credit funds gained 2.5 per cent and its hedge funds added 4.6 per cent. By contrast, the benchmark S&P 500 rose 10.2 per cent over the same period.
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