Business

Rheinmetall shares plunged more than 17% after the company cut its annual sales and profit margin forecasts, citing delays in a major German military order and other issues.

BMW warns its car division could post a full-year operating loss as restructuring costs and weak China sales take a toll.

Saudi Aramco’s Q3 profit rose 35% to 135.9 billion riyals despite attacks on oil facilities, as geopolitical tensions continue to disrupt global energy markets.

AstraZeneca’s profit jumped 23% to $3.12 billion, driven by cancer drug sales, as the company announced a $1.5 billion savings plan to reinvest in its pipeline.

Alphabet shares fell sharply in after-hours trading as AI investment costs outweighed revenue growth, while Microsoft gained on strong earnings.

Asian tech stocks surged on Wednesday after SK hynix reported a 632% jump in operating profit, reinforcing confidence in the AI trade ahead of major earnings reports.

Boeing shares dropped about 9% after the company said 737 MAX production won’t reach 52 per month until late 2027, disappointing investors.

Elon Musk confirmed that Tesla and SpaceX are exploring a merger, potentially creating a $3.5 trillion giant before Trump leaves office.

Barclays will cut 5,000 jobs as it turns to AI to improve efficiency, alongside a 13% rise in Q3 net profit.

The Portuguese government has chosen Lufthansa Group to acquire a 44.9% stake in TAP Air Portugal, beating Air France-KLM with a higher and more certain offer, while the state retains majority control.