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☆ Stocks making the biggest moves midday: Tesla, Wells Fargo, JPMorgan Chase, Fastenal and more
▼ + stars: | 2024-10-11 | by ( Sean Conlon | ) www.cnbc.com time to read: +4 min

Third-quarter adjusted earnings were $1.52 per share, topping the $1.28 per share expected from analysts polled by LSEG. JPMorgan Chase – Shares jumped 4.7% after JPMorgan, the biggest American bank, posted third-quarter results that beat estimates for profit and revenue. BlackRock – Shares climbed 2.8% after the asset manager beat analysts' third-quarter expectations on the top and bottom lines. Bank of New York Mellon – The bank stock dropped 1%, even after the company issued a stronger-than-expected quarterly report. Analysts surveyed by LSEG were expecting $1.42 in earnings per share on $4.54 billion of revenue.

Persons: Morgan Stanley, Wells Fargo, JPMorgan Chase, Walmex –, Fastenal, FactSet, Wells, Warren Buffett's Berkshire Hathaway, Buffett, Natalie Knight, Doug Ostermann, Stellantis, Carlos Tavares, who's, LSEG, Kinder Morgan, Ferrari, BNY, —, Alex Harring, Lisa Kailai Han, Pia Singh, Hakyung Kim, Jesse Pound, Michelle Fox Organizations: San, LSEG, JPMorgan, JPMorgan Chase –, Walmart, Apple Pay, Bank of America, Securities and Exchange Commission, Finance, BlackRock, of, Bank of New York Mellon Locations: San Francisco, LSEG .

☆ Stellantis CEO Carlos Tavares to retire in 2026 as automaker struggles in North America
▼ + stars: | 2024-10-10 | by ( ) edition.cnn.com time to read: +3 min

Detroit Reuters —Chrysler parent Stellantis confirmed on Thursday that CEO Carlos Tavares would retire at the end of his contract in early 2026 and announced major senior management changes as it struggles to turn around its lagging North American operations. The world’s fourth-largest automaker by sales said it now planned to name his successor by the fourth quarter of 2025. The automaker also appointed Antonio Filosa as its North America chief operating officer in addition to his role as Jeep brand CEO, succeeding Carlos Zarlenga, whose future role has not been announced. Stellantis last week lowered its forecast from positive cash flow to negative cash flow of between 5 billion and 10 billion euros ($5.5 billion and $10.9 billion) this year. The broad management shakeup was meant to address these concerns, Tavares said in a statement Thursday.

Persons: Carlos Tavares, Tavares ’, Stellantis, Doug Ostermann, Natalie Knight, Antonio Filosa, Carlos Zarlenga, Tavares, “, ” Bernstein, ” Organizations: Detroit Reuters, Chrysler, Analysts, North America, Fiat, Peugeot, PSA, Maserati, Jeep, United Auto Workers Locations: North America, China, Detroit

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