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[1/2] A smartphone with displayed "Disney" logo is seen on the keyboard in this illustration taken March 24, 2020. Disney said it expected to pay NBCUniversal (NBCU) parent Comcast about $8.61 billion by Dec. 1. Hulu had 48.3 million subscribers at the end of Disney's third quarter, compared with 28 million paid subscribers for Comcast's Peacock streaming service at the end of Comcast's third quarter. Disney+ had 146.1 million global subscribers at the end of Disney's third quarter. If the value is determined to be greater than the guaranteed floor value, Disney will pay NBCU the difference.

Persons: Dado, Walt Disney, Disney, Bob Iger, Goldman Sachs, Brian Roberts, Dawn Chmielewski, Helen Coster, Sriraj Kalluvila, Sayantani Ghosh, Jamie Freed Organizations: REUTERS, ANGELES, Wednesday, Disney, Comcast, Hulu, Goldman, Thomson Locations: Hulu, Burbank , California, U.S, Los Angeles, New York

☆ Estee Lauder, Canada Goose slash annual targets as China recovery falters
▼ + stars: | 2023-11-01 | by ( ) www.reuters.com time to read: +2 min

An Estee Lauder cosmetics counter is seen in Los Angeles, California, U.S., August 19, 2019. The company also estimated annual sales to decrease 2% to an increase of 1%, compared with the previous forecast of an increase between 5% and 7%. Canada Goose expects full-year revenue to be between C$1.20 billion ($864.49 million) and C$1.40 billion, compared with its previous forecast of C$1.40 billion to C$1.50 billion. Canada Goose also saw revenues in the United States region decline nearly 11% as demand for high-end goods by affluent shoppers sag. Shares of Estee fell about 13% in premarket trading while U.S.-listed shares of Canada Goose were down 11%.

Persons: Lauder, Lucy Nicholson, Estee Lauder, Estee, Goose, Tom Ford's, Ananya Mariam Rajesh, Aatrayee Chatterjee, Shounak Dasgupta, Maju Samuel, Sriraj Organizations: REUTERS, Canada Goose Holdings, L'Oreal, Canada, U.S, Thomson Locations: Los Angeles , California, U.S, China, Canada, Asia, Korea, Hainan, Estee, United States, Bengaluru

DoorDash had in August projected adjusted EBITDA of between $750 million and $1.05 billion. The company expects fourth-quarter adjusted EBITDA, a key measure of profitability, of between $320 million and $380 million, compared with analysts' estimates of $253.3 million. In the third quarter, total orders rose 24% to 543 million from a year earlier. Revenue rose 27% to $2.16 billion, compared with analysts' expectations of $2.09 billion, according to LSEG data. Net loss narrowed to $73 million, or 19 cents per share, in the third quarter, compared with $295 million, or 77 cents per share, a year earlier.

Persons: Dado Ruvic, Ravi Inukonda, DoorDash, Rachel Wolff, Granth, Anil D'Silva Organizations: REUTERS, ALDI, Reuters, Revenue, Thomson Locations: Japan, U.S, Bengaluru

☆ Pfizer swings to quarterly loss as COVID product demand slump sparks charges
▼ + stars: | 2023-10-31 | by ( ) www.reuters.com time to read: +3 min

The company recorded a $5.6 billion charge in the third quarter related to Paxlovid and vaccine Comirnaty, most of which was disclosed earlier this month. Paxlovid sales slumped 97% in the third quarter to $202 million, while vaccine revenue came in at $1.31 billion, down from $4.4 billion a year earlier. Analysts had expected sales of $1.44 billion for the vaccine and $618.20 million for Paxlovid, according to LSEG data. Sales of its recently launched respiratory syncytial virus (RSV) vaccine, Abrysvo, came in at $375 million for the quarter. Overall revenue was $13.23 billion, compared to $22.64 billion a year earlier.

Persons: Wolfgang Rattay, Evan Seigerman, Bhanvi Satija, Michael Erman, Sriraj Organizations: REUTERS, Pfizer, U.S, BioNTech, Analysts, BMO Capital, U.S ., Thomson Locations: Bengaluru, New York

Paxlovid, Pfizer's anti-viral medication to treat the coronavirus disease (COVID-19), is displayed in this picture illustration taken October 7, 2022. Sales of Paxlovid and the vaccine Pfizer makes with German partner BioNTech (22UAy.DE) had boosted revenue to record levels the last two years. Reuters GraphicsPfizer continues to expect 2023 revenue growth of 6%-8% from non-COVID products, with a majority occurring in the second half. Paxlovid sales slumped 97% in the third quarter to $202 million, while vaccine revenue of $1.31 billion was down from $4.4 billion a year earlier. Analysts had expected $1.44 billion for the vaccine and $618.20 million from Paxlovid, according to LSEG data.

Persons: Wolfgang Rattay, Evan Seigerman, BioNTech, Albert Bourla, Angela Hwang, Paxlovid, Bhanvi Satija, Michael Erman, Sriraj Kalluvila, Bill Berkrot Organizations: REUTERS, Pfizer, BMO Capital, Reuters Graphics Pfizer, GSK, CVS, Analysts, U.S ., Thomson Locations: Europe, Paxlovid, Bengaluru, New York

☆ Pinterest soars on rising Gen Z engagement, ad market rebound
▼ + stars: | 2023-10-31 | by ( Samrhitha A | ) www.reuters.com time to read: +2 min

A Pinterest logo is seen on a smartphone in this illustration taken October 20, 2021. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsOct 31 (Reuters) - Shares of Pinterest (PINS.N) surged 17% on Tuesday after a strong quarterly performance indicated that the image-sharing platform was riding a rebound in the advertising market and making inroads among the lucrative Gen Z. "Take the strong engagement trends as a sign that Pinterest may have found product-market fit with younger users which keeps the flywheel going," Bernstein analyst Mark Shmulik said. At least 19 analysts raised their price targets on the stock, boosting the median to $35, per LSEG data. Shares were up 17% at $29.43, and the company was on track to add nearly $3 billion in market value if the gains held.

Persons: Dado Ruvic, Bernstein, Mark Shmulik, Schmulik, Samrhitha, Sriraj Organizations: REUTERS, Z, Wall Street, Meta, Google, Thomson Locations: Bengaluru

☆ McDonald's beats sales estimates as cheaper menu, new launches drive demand
▼ + stars: | 2023-10-30 | by ( Deborah Mary Sophia | ) www.reuters.com time to read: +2 min

[1/3] The McDonald's company logo stands on a sign outside a restaurant in Bretigny-sur-Orge, near Paris, France, July 30, 2020. Global comparable sales at McDonald's jumped 8.8% in the quarter ended Sept. 30, while analysts on average expected a 7.36% rise, according to LSEG data. While overall dining traffic fell in all three months of the quarter, McDonald's saw a 7.3% jump in July, data from Placer.ai showed. U.S. comparable sales climbed 8.1% in the quarter, beating estimates of a 7.4% increase, thanks also to higher average spending at stores. Meanwhile, same-store sales in McDonald's international operated markets increased 8.3%, edging past expectations for 8.03% growth.

Persons: Benoit Tessier, McDonald's, Deborah Sophia, Sriraj Organizations: REUTERS, McDonald's, UBS, Thomson Locations: Bretigny, Paris, France, Placer.ai, U.S, Bengaluru

☆ Valero tops profit estimates in strong start to U.S. refiner earnings
▼ + stars: | 2023-10-26 | by ( Arunima Kumar | ) www.reuters.com time to read: +2 min

The logo for Valero Energy Corporation is shown at a Valero gas station in Encinitas, California, U.S., May 2, 2016. REUTERS/Mike Blake/File Photo Acquire Licensing RightsCompanies Valero Energy Corp FollowOct 26 (Reuters) - Refiner Valero Energy (VLO.N) beat analysts' estimates for third-quarter profit on Thursday, powered by sustained fuel and refined products demand against the backdrop of tight supplies. For the current quarter, Valero expects refining throughput between 2.93 million and 3.04 million bpd. The Diamond Green Diesel Port Arthur plant, which started up in the fourth quarter of 2022, boosted the sales volumes, Valero said. The 3-2-1 crack spread, a proxy for refining margins, fell around 35% during the July-September quarter.

Persons: Mike Blake, Lane Riggs, Valero, refiners, TD Cowen, Jason Gabelman, Arunima Kumar, Sriraj Organizations: Valero Energy Corporation, REUTERS, Companies Valero Energy Corp, Refiner Valero Energy, Valero, Green Diesel, U.S ., Thomson Locations: Valero, Encinitas , California, U.S, Saudi Arabia, Russia, Green Diesel Port Arthur, U.S . East Coast, San Antonio , Texas, Bengaluru

[1/4] Harley-Davidson motorcycles are seen at a dealership in Queens, New York City, U.S., February 7, 2022. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsCompanies Harley-Davidson Inc FollowOct 26 (Reuters) - Harley-Davidson Inc (HOG.N) on Thursday reported a 24% fall in third-quarter profit as customers cut back on discretionary spending due to higher borrowing costs and inflationary pressures. Harley has maintained margin growth through its wealthier customer base, but hasn't been as successful in luring younger riders. Sales from motorcycles and related products fell about 9% to $1.30 billion in the quarter ended Sept. 30. Earnings per share tracked by analysts came in at $1.38 per share in the third-quarter, slightly above expectations of $1.36.

Persons: Harley, Davidson, Andrew Kelly, hasn't, Baird, Kannaki, Bianca Flowers, Sriraj Kalluvila Organizations: REUTERS, Davidson, Harley, Polaris Inc, Global, Thomson Locations: Queens , New York City, U.S, North America, Bengaluru, Chicago

☆ Keurig Dr Pepper Tops Estimates on Price Hikes but Coffee Business a Drag
▼ + stars: | 2023-10-26 | by ( Oct. | At A.M. | ) www.usnews.com time to read: +1 min

(Reuters) - Keurig Dr Pepper beat Wall Street estimates for third-quarter sales on Thursday, as higher prices and steady demand for its sodas and drinks helped limit the hit from a slowing coffee business. Keurig Dr Pepper has also largely withstood a trade-down to private label and has not witnessed a decline in demand from the price hikes. Net sales for the third quarter increased 5.1% to $3.81 billion, beating estimates of $3.77 billion, according to LSEG data. However, the U.S. coffee segment remained under pressure, with net sales falling 3.2% to $1.01 billion. Keurig Dr Pepper, however, reaffirmed its fiscal 2023 adjusted earnings per share to rise 6% to 7% and net sales to grow 5% to 6%.

Persons: Dr Pepper, Annett Mary Manoj, Ananya Mariam Rajesh, Sriraj Kalluvila Organizations: Reuters, Wall, Schweppes, Cola, PepsiCo Locations: Ukraine, U.S, Bengaluru

Alphabet (GOOGL.O) and Snap surpassed third-quarter revenue expectations on Tuesday, with the tech giant seeing strong growth both at its core Search and YouTube units. Meanwhile, Snap's efforts to revamp its ad targeting tools with technology also paid rich dividends, as average revenue per user increased in the third quarter. "We expect the larger platforms like Meta and Google to lead the wallet share growth at least initially in this ad spend recovery," analysts at Evercore ISI said. Meta has also leaned heavily on AI-powered marketing planning and ad measurement features in recent years to drive its growth. "Facebook/Instagram's tools for creating a (marketing) campaign are vastly quicker and easier to use" than smaller rivals including Snap, RBC analysts said, which could potentially give Meta an edge.

Persons: Arnd, Philipp Schindler, Max, Samrhitha Arunasalam, Aditya Soni, Sriraj Organizations: REUTERS, Google, Facebook, YouTube, Evercore, Meta, RBC, Thomson Locations: Zurich, Switzerland, Middle East, Bengaluru

☆ Chevron target Hess beats quarterly profit estimates on production boost
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +2 min

New York-based Hess's net production was 395,000 barrels of oil equivalent per day (boepd) in the quarter, compared to 351,000 boepd a year earlier. The company forecast production to be around 410,000 boepd in the fourth quarter. Hess said its worldwide average realized crude oil selling price, excluding hedges, was $81.53 per barrel in the quarter, compared to $71.13 in the preceding quarter and $85.32 a year earlier. Production from Guyana totaled 108,000 boepd, 10% higher compared with the prior-year quarter. Production at the Stabroek oil block is expected to triple to more than 1.2 million barrels per day (bpd) by 2027.

Persons: Dado Ruvic, Hess, China's CNOOC, Seher, Sriraj Organizations: REUTERS, Companies Chevron Corp, Hess Corp, Wednesday, Wall, Chevron Corp, Chevron, Exxon Mobil, HK, Thomson Locations: New York, Guyana, North Dakota, U.S, Bengaluru

"Short term, if you're visiting a smaller biotech customer, what you're seeing is concerns about when the funding environment is going to improve. On the call, finance chief Stephen Williamson said core revenue growth and adjusted profit in 2024 will be similar to that in 2023. It also forecast 2023 adjusted profit of $21.50 per share, below analysts' estimates of $22.28. The medical equipment maker forecast adjusted earnings of $21.75 per share in 2024, short of analysts' estimates by $2.23. Third-quarter revenue of $10.57 billion missed analysts' expectations of $10.60 billion while adjusted profit of $5.69 per share topped estimates of $5.61, according to LSEG data.

Persons: Brian Snyder, Marc Casper, Stephen Williamson, Raymond James, Andrew Cooper, Bhanvi, Shinjini Ganguli, Shounak Dasgupta, Sriraj Organizations: REUTERS, Agilent Technologies, Reuters, Thomson Locations: Waltham , Massachusetts, U.S, China, Bengaluru

☆ Danaher Beats Profit Estimates on Respiratory Testing Demand
▼ + stars: | 2023-10-24 | by ( Oct. | At A.M. | ) www.usnews.com time to read: +2 min

(Reuters) - Danaher on Tuesday beat Wall Street estimates for third-quarter profit as strong demand for its diagnostic tests for respiratory diseases helped soften the blow from weaker sales at the healthcare conglomerate's life-sciences unit. "Revenue in the third quarter came in ahead of our expectations, with Biotechnology performing as anticipated, and higher respiratory testing revenue more than offsetting slightly softer-than-anticipated demand in Life Sciences," Danaher CEO Rainer Blair said in a statement. Rising interest rates squeezed funding needed for drug development programs, weighing on demand for contract research services offered by Danaher and rival Thermo Fisher. On an adjusted basis, Danaher reported a profit per share of $2.02, beating analysts' expectations of $1.87. Third-quarter sales of $6.87 billion also topped estimates of $6.63 billion.

Persons: Rainer Blair, Danaher, Christy Santhosh, Krishna Chandra Eluri Organizations: Reuters, Biotechnology, Life Sciences, Washington D.C, Danaher, Fisher, Applied Solutions

☆ Coca-Cola lifts forecasts on higher prices, steady demand
▼ + stars: | 2023-10-24 | by ( ) www.reuters.com time to read: +2 min

A Coca-Cola logo is pictured during an event in Paris, France, March 21, 2019. REUTERS/Benoit Tessier/File Photo Acquire Licensing RightsOct 24 (Reuters) - Coca-Cola Co (KO.N) on Tuesday raised its annual sales and profit forecasts for a second time this year, riding on resilient demand from consumers for its sodas, juices and energy drinks as well as higher prices. The company's shares rose more than 2% in premarket trading after it also topped expectations for third-quarter results. Coca-Cola's average selling prices rose 9% in the third quarter, the company said, while overall unit case volumes increased 2%. Third-quarter net revenue rose nearly 8% to $11.91 billion, topping analysts' estimates of $11.44 billion, according to LSEG data.

Persons: Benoit Tessier, Sarah Henry, Ananya Mariam Rajesh, Sriraj Organizations: REUTERS, Cola, PepsiCo, Logan Capital Management, Procter & Gamble, Thomson Locations: Paris, France, Bengaluru

GE shares were up 6% at $113.14 in pre-market hours. The Boston-based group now expects 2023 adjusted profit per share of $2.55 to $2.65, compared with an earlier forecast of $2.10 to $2.30. "At GE Aerospace, we continue to experience rapid growth driven by robust demand and solid execution, largely in commercial engines and services," CEO Larry Culp said in a statement. GE's aerospace unit, which makes engines for Boeing Co (BA.N) and Airbus (AIR.PA) jets, posted double-digit growth in orders, revenue and profit from a year earlier. Shares of its aerospace unit will continue GE's listing on the New York Stock Exchange under the ticker symbol "GE", the company said.

Persons: Benoit Tessier, Larry Culp, RTX, Pratt, Whitney, Culp, Rajesh Kumar Singh, Sriraj Kalluvila, Jason Neely, Jan Harvey Organizations: Electric, GE, Boeing, Paris, REUTERS, General, GE Aerospace, Boeing Co, Airbus, New York Stock Exchange, AerCap Holdings, Thomson Locations: Le Bourget, Paris, France, Boston, Chicago, Bengaluru

☆ Dow forecasts lower-than-expected net sales in Q4 on low prices, weak demand
▼ + stars: | 2023-10-24 | by ( ) www.reuters.com time to read: +2 min

The Dow Chemical logo is displayed on a board above the floor of the New York Stock Exchange shortly after the opening bell in New York, U.S. on December 22, 2015. REUTERS/Lucas Jackson/File Photo Acquire Licensing RightsOct 24 (Reuters) - Dow Inc (DOW.N) forecast average net sales for the current quarter below analyst estimates on Tuesday, as the chemical maker continues to navigate weak demand and low prices for its products in key markets. Dow reported a sequential decline of 7% in prices of their products in Europe, the Middle East, Africa and India, primarily due to lower feedstock and energy rates. However, the company added it expects to see benefits from rising oil prices in the next few quarters. Prices of Dow products such as polyethylene, poly vinyl chloride and other base metals increase on the back of rising crude oil.

Persons: Lucas Jackson, Dow, Howard Ungerleider, Jeffrey Tate, Sriraj Kalluvila, Vinay Dwivedi, Krishna Chandra Organizations: Dow, New York Stock, REUTERS, Dow Inc, Saikeerthi, Thomson Locations: New York, U.S, China, Europe, East, Africa, India, Bengaluru

[1/2] United Auto Workers president Shawn Fain meets with striking UAW members from the General Motors Lansing Delta Plant, as they picket in Delta Township, Michigan U.S. September 29, 2023. REUTERS/Rebecca Cook/File Photo Acquire Licensing RightsWASHINGTON/DETROIT, Oct 23 - The United Auto Workers (UAW) union went on strike at Chrysler-parent Stellantis's largest assembly plant on Monday, hitting the automaker's profitable RAM 1500 pickup truck production in a major expansion of the more than month-old strike. The union has demanded a 40% wage hike, including a 20% immediate increase, improvements in benefits, as well as covering EV battery plant workers under union agreements. He said the Detroit Three had converged on a 23% wage hike offer and made progress on other issues but told UAW members "there is more to be won". Fain also told UAW members the talks were nearing an end.

Persons: Shawn Fain, Rebecca Cook, Tim Ghriskey, Ingalls & Snyder, Fain, Arthur Wheaton, Stellantis, Wheaton, Bill Ford, Henry Ford, Ford, David Shepardson, Joe White, Ben Klayman, Sriraj Kalluvila, Deepa Babington Organizations: United Auto Workers, General Motors Lansing Delta Plant, Michigan U.S, REUTERS, WASHINGTON, UAW, Chrysler, Detroit, Ford, General Motors, Detroit Three, EV, Sterling, Ford's, Ingalls &, Labor, Korean, Twitter, Cornell University, GM, Anderson Economic, Thomson Locations: Delta Township, Michigan, DETROIT, Ford's Kentucky, U.S, Milan, New York, Washington, Detroit, Bengaluru

The benchmark S&P 500 index (.SPX) bounced above 4200, a key technical level, after falling almost a percent during the open. Microsoft (MSFT.O), Alphabet (GOOGL.O), Amazon.com (AMZN.O) and Meta Platforms (META.O), which have helped power the S&P 500 (.SPX) higher in 2023 while the other indexes lagged, report later this week. Chipmaker Intel (INTC.O), oil major Exxon Mobil (XOM.N), General Motors (GM.N) are among other major companies set to report results this week. Overall, earnings are expected to grow at 1.2% in the third quarter for S&P 500 companies, as per LSEG data. Seven of the 11 major S&P 500 sub sectors were in the green, with industrials (.SPLRCI) and communication services (.SPLRCL) leading gains.

Persons: Brendan McDermid, Hess, Bill Ackman's, David Bahnsen, Piper Sandler, Morgan, advancers, Shubham Batra, Shashwat Chauhan, Sriraj Kalluvila, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Chevron, Walgreens, Dow, Nasdaq, Capital Management, Microsoft, Intel, Exxon Mobil, General Motors, Dow Jones, Walgreens Boots Alliance, Hess Corp, FMC, NYSE, Thomson Locations: New York City, U.S, East, Israel, Gaza, Lebanon, Bengaluru

☆ Chevron to buy Hess Corp for $53 billion in all-stock deal
▼ + stars: | 2023-10-23 | by ( ) www.reuters.com time to read: +2 min

Chevron has offered 1.025 of its shares for each Hess share held, or $171 per share, implying a premium of about 4.9% to the stock's last close. Chevron's shares were trading 3% lower premarket. Exxon and partners Hess and China's CNOOC (0883.HK) are the only active oil producers in the country. Hess Corp CEO John Hess is expected to join Chevron's board of directors once the deal closes around the first half of 2024. Goldman Sachs was the lead adviser to Hess while Morgan Stanley was the lead adviser to Chevron.

Persons: Liz Hampton, Hess, China's CNOOC, John Hess, Chevron, Goldman Sachs, Morgan Stanley, Mrinalika Roy, Nivedita Bhattacharjee Organizations: REUTERS, Chevron, U.S, Exxon Mobil, Natural Resources, Exxon, RBC, Pioneer, HK, Hess Corp, Thomson Locations: Chevron, Kersey , Colorado, U.S, Guyana, American, Brazil, Mexico, Bengaluru

Fain confirmed the Detroit Three had converged on a 23% wage hike offer and made progress on other issues. But he told UAW members "there is more to be won". While warning of possible expanded strikes, Fain also told UAW members the talks were closing in on an end. Walkouts began at the three automakers on Sept. 15 and now more than 34,000 union members are waging the UAW's first simultaneous strikes against the Detroit Three. Fain declared "the days of the UAW and Ford being a team to fight other companies are over."

Persons: Rebecca Cook, Shawn Fain, we've, Fain, Walkouts, Bill Ford, Henry Ford, Ford, Tesla, Stellantis, Joseph White, Ben Klayman, Pratyush Thakur, Sayantani Ghosh, Sriraj Kalluvila, Peter Henderson, David Gregorio Our Organizations: General Motors, REUTERS, Rights, United Auto Workers, Detroit Three, UAW, Chrysler, Detroit, Ford, GM, Toyota, Anderson Economic, Thomson Locations: Detroit , Michigan, U.S, Ford's, Kentucky, Detroit, Bengaluru

Fain acknowledged some union members want to vote on the offers the union bargainers have in hand. He urged UAW members not to give in to what he called "fear, uncertainty, doubt and division" sowed by the companies. More than 34,000 union members working at the three automakers are on strike since the walkouts began on Sept. 15. The demand included a 20% immediate increase, elimination of different pay scales among UAW workers and restoration of defined benefit pension plans. The GM offer "suggests we may be in the endgame," said University of California Berkeley labor professor Harley Shaiken.

Persons: Rebecca Cook, Shawn Fain, Fain, General Motors GM.N, Harley Shaiken, Ford, We've, Stellantis, Ford hasn't, Shaiken, it's, Tesla, Bill Ford, Joseph White, Ben Klayman, Pratyush Thakur, Sayantani Ghosh, Sriraj Kalluvila, Peter Henderson, David Gregorio Our Organizations: General Motors, REUTERS, Rights, United Auto Workers, UAW, General, Chrysler, GM, Ford, Bloomberg News, Detroit Three, of California, Ford's, Toyota, Anderson Economic, Detroit, Thomson Locations: Detroit , Michigan, U.S, of California Berkeley, Kentucky, Arlington , Texas, Detroit, Bengaluru

☆ GM makes new offer to UAW, sees movement in all key areas
▼ + stars: | 2023-10-20 | by ( ) www.reuters.com time to read: +2 min

[1/2] The GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan, U.S., March 16, 2021. "We have made substantial movement in all key areas in an effort to reach a final agreement with the UAW and get our people back to work," the company said in a statement. The automaker said the new 23% general wage increase offer represents a 25% compounded wage rise over the life of the agreement, with 10% hike in the first year. The UAW had no immediate comment ahead of a planned Facebook address by its president, Shawn Fain, at 4 PM ET. The total economic losses from the UAW strike have reached $7.7 billion, according to the latest data from economic consultancy Anderson Economic Group, with the Detroit Three suffering losses of $3.45 billion.

Persons: Rebecca Cook, Shawn Fain, Fain, Tesla, Bill Ford, Pratyush Thakur, Sriraj Organizations: General Motors, REUTERS, UAW, Ford's, Motors, Chrysler, Detroit Three, Toyota, Ford, Anderson Economic, Detroit, Thomson Locations: Detroit , Michigan, U.S, Kentucky, Arlington , Texas, Bengaluru

☆ Software firm Okta's shares slump on cyber breach
▼ + stars: | 2023-10-20 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsOct 20 (Reuters) - Okta (OKTA.O) on Friday disclosed a breach of its customer support system that allowed some hackers to view files uploaded by certain clients, pushing the software company's shares down about 12%. "Okta security has identified adversarial activity that leveraged access to a stolen credential to access Okta's support case management system," Chief Security Officer David Bradbury said in a blog. The company said its support case management system was different from production Okta service, which was fully operational and was not impacted. Okta shares ended down 11.6% at $75.57. Reporting by Yuvraj Malik in Bengaluru; Editing by Sriraj KalluvilaOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, David Bradbury, Okta, Yuvraj Malik, Sriraj Organizations: REUTERS, Microsoft, Thomson Locations: San Francisco, Bengaluru

☆ Robot maker Intuitive's sales miss as weight-loss drugs cut into bariatric surgery demand
▼ + stars: | 2023-10-19 | by ( Khushi Mandowara | ) www.reuters.com time to read: +2 min

Oct 19 (Reuters) - Intuitive Surgical (ISRG.O) missed analysts' estimates for quarterly sales on Thursday and flagged sagging demand for its robots used in bariatric surgeries amid the growing popularity of weight-loss drugs. Shares of the da Vinci surgical robots maker tumbled nearly 7.8% to $252 in trading after the bell. On Tuesday, Johnson & Johnson (JNJ.N) signaled a hit to sale of devices used to perform abdomen surgeries such as bariatric. Such patients will eventually become increasingly interested in bariatric surgery but this will get delayed in the short term, Curet said. Bariatric surgeries grew at modestly lower rate in third quarter compared to the previous quarter, financial head Jamie Samath said, adding the company was gaining market share in the surgical segment.

Persons: Johnson, Myriam Curet, Curet, Jamie Samath, Khushi, Sriraj Organizations: Thomson Locations: U.S, Bengaluru

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