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Tesla’s Q2 income jumps 20%, although shares stayed flat amid concerns about profits

Published Mon, 11 Nov 2024 12:27:01 GMT

SAN FRANCISCO (AP) — Elon Musk’s big bet that Tesla price cuts could boost sales and profits amid increasing competition and poor economic sentiment appears to be yielding mixed results. The company beat analyst expectations for net income in the April-June quarter, although its shares barely budged.The Austin, Texas, maker of electric vehicles, solar panels and batteries reported net income of $2.7 billion in the quarter, a 20% increase from a year ago. Earnings per share also rose 20% to 78 cents when measured via generally accepted accounting principles.Analysts, however, tend to focus on Tesla’s own measurement of profit, which excludes stock-based compensation expense. By that measure, Tesla’s net income zoomed to $3.15 billion, or 91 cents a share, sharply exceeding analyst estimates of 80 cents per share according to FactSet.Tesla shares were flat at roughly $292 after the earnings report, up a smidgeon from their close at $291.26.Total revenue rose 47% to $...

Stock market today: Wall Street climbs again to tack more onto its big rally for the year

Published Mon, 11 Nov 2024 12:27:01 GMT

NEW YORK (AP) — Another tick higher for Wall Street Wednesday added to its big rally for the year following profit reports from a spate of banks and other big U.S. companies.The S&P 500 rose 10.74, or 0.2%, to 4,565.72. After its seventh gain the last eight days, it’s now up nearly 19% for the year so far and at its highest level in more than 15 months.The Dow Jones Industrial Average gained 109.28 points, or 0.3%, to 35,061.21, and the Nasdaq composite edged up by 4.38, or less than 0.1%, to 14,358.02. Elevance Health helped lead the market after it climbed 4.4% The insurance provider reported stronger profit and revenue for the spring than analysts expected, while raising its forecast for earnings over the full year. Stocks also broadly got a boost from easing pressure from the bond market. Yields there were holding steady or falling after a report showed U.K. inflation cooled by more than expected. It eased to 7.9% in June, a 15-month low. The U.K. data follows encourag...

S&P/TSX composite up on broad strength Wednesday, U.S. markets also rise

Published Mon, 11 Nov 2024 12:27:01 GMT

TORONTO — Broad-based strength among Canadian equities led by battery metals helped lift Canada’s main stock index Wednesday, while U.S. markets also rose. After a big-tech rally fuelled narrow gains in the first half of the year, there’s some room for the TSX to “make up” in the second half, said Brianne Gardner, senior wealth manager of Velocity Investment Partners at Raymond James Ltd. “I think financials are able to weather the storm a little bit better than people have planned,” she said, noting there may also be room to the upside in the energy sector.“I think that right now, I do see still more room to run with the TSX versus where the S&P 500 is sitting,” she said. The S&P/TSX composite index was up 114.60 points at 20,491.17.In New York, the Dow Jones industrial average was up 109.28 points at 35,061.21.The S&P 500 index was up 10.74 points at 4,565.72,while the Nasdaq composite was up 4.38 points at 14,358.02.Second-quarter earnings in the U.S. have so fa...

Families of military members killed in 2020 Cyclone helicopter crash sue manufacturer

Published Mon, 11 Nov 2024 12:27:01 GMT

OTTAWA — The families of six members of the Canadian Armed Forces who were killed in a helicopter crash in April 2020 are suing the manufacturer. The suit was filed in U.S. Federal Court in Pennsylvania, where the Sikorsky helicopters are made and tested. Lawyers representing the families say a design flaw caused the electronic flight control system to take over control of the chopper, plunging it into the Ionian Sea off the coast of Greece. They also say the pilots and the Royal Canadian Air Force were not made aware of the problem before the crash — and that Sikorsky has still not fixed the computer software problem that was responsible. The lawsuit is seeking damages and recovery under American law. Master Cpl. Matthew Cousins, Sub-Lt. Abbigail Cowbrough, Capt. Kevin Hagen, Capt. Brenden MacDonald, Capt. Maxime Miron-Morin and Sub-Lt. Matthew Pyke died in the crash.This report by The Canadian Press was first published July 19, 2023.The Canadian Press

Hwy, 401 eastbound ramps closed to Hwy. 400 due to transport truck rollover

Published Mon, 11 Nov 2024 12:27:01 GMT

The eastbound Highway 401 ramp to Highway 400, both northbound and southbound, have been closed due to a transport truck rollover.Major delays are expected for the commute home as the cleanup continues. There’s no word on whether anyone has been injured.More to come

Video appears to show Russian mercenary chief Prigozhin for first time since short-lived mutiny

Published Mon, 11 Nov 2024 12:27:01 GMT

MOSCOW (AP) — A video released Wednesday appears to show Russian mercenary chief Yevgeny Prigozhin for the first time since he led a short-lived rebellion last month, and he is seen telling his troops they will spend some time in Belarus training its military before deploying to Africa.Messaging app channels linked to Prigozhin’s Wagner private military company said he spoke at a field camp in Belarus and ran a blurry video purported to show him there, his silhouette seen against the sky at dusk. His gravelly voice was clearly distinguishable.“Welcome guys! I am happy to greet you all. Welcome to the Belarusian land!” the video showed him saying. “We fought with dignity! We have done a lot for Russia.”Prigozhin’s mutiny, which posed the most serious threat to President Vladimir Putin’s 23-year rule, was billed by the mercenary chief as being aimed at ousting Russia’s top military leaders whom he accused of incompetence.Prigozhin’s criticism of the conduct of ...

Netflix ditches cheapest ad-free plan

Published Mon, 11 Nov 2024 12:27:01 GMT

(KTLA) – Netflix has done away with its most affordable ad-free option for subscribers. The streaming giant has removed its $9.99 advertising-free "Basic" plan in the U.S. and in the U.K., less than a month after it made the same move in Canada.This change doesn't affect people who already have the Basic plan, but it does force new subscribers to either sign up for a $6.99 "Standard with ads" tier, the $15.49 "Standard" (without ads) tier, or the $19.99 "Premium" option. Peacock to raise prices starting in August "The Basic plan is no longer available for new or rejoining members," Netflix posted on its FAQ page as of Wednesday morning. "If you are currently on the Basic plan, you can remain on this plan until you change plans or cancel your account."According to The Hollywood Reporter, Netflix executives said the ad tier draws higher revenue per subscriber than the Basic tier they just got rid of. These are the best, worst states to win the lottery in This is just the latest a...

Austin breaks record for most days at or above 105° in a row

Published Mon, 11 Nov 2024 12:27:01 GMT

AUSTIN (KXAN) — Yet another heat record has been broken in Austin, Texas.As of July 19, Camp Mabry, Austin's official weather reporting site, has hit 105° or higher every day for 10 days in a row. That breaks a 100-year-old record, set in August 1923. Weather Extremes: What are the hottest and coldest temps in Austin history? The KXAN First Warning Weather team is currently forecasting at least seven more days of 105° heat or higher, meaning the record will be extended even further. How often does Austin hit 100°? Here’s a breakdown by date, month, year and decade Temperatures above 105° are becoming more common. Austin has weather records dating back to the 1890s. Since then, 105° has been reached a total of 195 times.While we did see a surge in the cumulative total number of 105°+ days in the 1920s, the majority have been much more recent than that. In fact, more than 60% of all days at or above 105° have been since the year 2000.Put another way, the total number of 105° days ...

Austin collector creates dream house for 600+ Barbie dolls

Published Mon, 11 Nov 2024 12:27:01 GMT

Editor's Note: The video above shows KXAN Live’s top headlines for July 19, 2023AUSTIN (KXAN) — Life in plastic really is fantastic for the vast collection of Barbie dolls that one woman keeps artfully displayed throughout her north Austin home. Diana Harris spent the past 25 years amassing more than 600 dolls, so her love of Barbie precedes the buzz whipped up recently over the movie about the iconic Mattel toy coming out Friday. However, she's incredibly excited by all the hype, just like so many others in Central Texas are. She already bought a ticket to see the new film and even added the latest Barbie and Ken dolls to her collection that sport some of the outfits worn in the movie by actors Margot Robbie and Ryan Gosling. Ken adds to ‘I love you so much’ mural ahead of ‘Barbie’ movie release "It's definitely Barbie week, so I'm excited to see the movie and see which direction it goes," Harris said. "I just say that I hope that the movie is respectful to the legacy of Barbie....

Kyle Police Department relocates headquarters to new center

Published Mon, 11 Nov 2024 12:27:01 GMT

KYLE, Texas (KXAN) -- The Kyle Police Department announced it had officially relocated its headquarters and primary operations to its new public safety center, located at 1700 Kohlers Crossing.Residents in need of filing a report or complaint as well as speaking to police in person will do so at the public safety center. The department's non-emergency line remains the same, with residents able to call 512-268-3232 with all non-emergency needs.The department, alongside City of Kyle officials, will host a ribbon-cutting ceremony at 5 p.m. on Thursday at the new public safety center. The 64,000-square-foot facility was greenlit by Kyle voters in the November 2020 election.Ribbon-cutting attendees are invited to tour the new facility and learn more about its operations following the ceremony. More details on the event are available online.