Tesla, Profit and Shares Fall
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Volkswagen's Q2 profit drops
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A solid earnings season shows Corporate America’s profit engine is humming along, potentially easing worries that the record-setting rally in US stocks is starting to overheat.
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Tesla revenue dropped 12%, and profits slumped 16% in the three months through June as buyers continued to steer clear, and in some cases, turn to more affordable competitors' offerings.
India's SBI Cards and Payment Services reported first-quarter profit below expectations on Friday, weighed by a surge in the credit card service provider's write-offs. The country's lenders are grappling with rising bad loans,
HCA Healthcare and Tenet Healthcare, for-profit chains that collectively own 240 hospitals, both said their revenue and profit came in stronger than expected in the second quarter, which ended June 30, prompting them to issue more optimistic financial forecasts for the year.
General Motors' profit and revenue declined in its second-quarter but the automaker's results managed to easily top Wall Street's expectations and the company stuck by its full-year financial outlook that it lowered in May.
Steel Authority of India reported a rise in first-quarter profit on Friday, helped by a marginal rise in steel prices due to a temporary tariff imposed on some imports, easing input costs and strong domestic demand.
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Daniel Roper allegedly lost money while executing more than 20,000 trades in a little more than a year in an account he didn’t have discretion over.