ground in the premarket – up more than seven per cent – after the company reported record fourth-quarter revenue and topped profit expectations in Q4, in spite of some margin compression. The company is also teasing the potential for a significant ramp-up in production, with CEO Elon Musk saying there's potential to produce two million vehicles this year as the company increases output “as quickly as possible” – including bringing the Cybertruck to market in 2023.
The New York Stock Exchange says a manual error caused those wild price swings and trading halts in hundred of stocks in early trading Tuesday, due to an issue with the exchange's “disaster recovery configuration.” IBM is joining the ranks of big tech firms slashing jobs, announcing plans to eliminate about 3,900 positions, or about 1.5 per cent of its global workforce.
Shares of Diageo are under pressure – down six per cent or so – after the booze purveyor reported a slowdown in sales in North America. RBC is trimming its price target on shares of Cineplex to $12 due to concerns over lower attendance in the fourth quarter, but still says the company is among its top picks in the media industry.Notable data: Survey of Employment, Payrolls and Hours, U.S. Initial Jobless Claims, U.S. Real GDP, U.S. Advance Economic Indicators Report, U.S. Durable Goods Orders, U.S. New Home Sales
Source: News Formal (newsformal.com)
Margin is the metric to watch
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