(Reuters) - Apple supplier Skyworks Solutions forecast third-quarter revenue below Wall Street estimates on Tuesday on demand concerns, as clients struggle to offload excess inventory, sending its shares down 6% in extended trading. The chip company forecasts revenue of $900 million, plus or minus 2%, in the third quarter, below analysts' average estimate of $1.02 billion, according to LSEG data.
It expects adjusted earnings of $1.21 per share for... (continue reading...)
By Amina Niasse
NEW YORK (Reuters) - Almost all U.S. hospitals were hurt financially by the cyberattack on United Health Group’s Change Healthcare unit earlier this year, according to a survey from the American Hospital Association (AHA).
The AHA said that 94% of hospitals reported damage to cash flow and more than half reported significant or serious financial damage due to Change's inability to process claims.
"While... (continue reading...)
By Brendan Pierson
(Reuters) - The first trial over claims that blockbuster heartburn drug Zantac, once sold by GSK and other companies, causes cancer is set to begin this week in Chicago.
Jury selection began on Tuesday before Judge Daniel Trevino of the Circuit Court of Cook County, with lawyers' opening statements expected to follow. GSK is the sole defendant in the trial, after other companies settled.
The plaintiff,... (continue reading...)
(Reuters) - Swedish electric-vehicle maker Polestar Automotive will delay the publication of its fourth-quarter and full-year 2023 financial results for a second time, a spokesperson for the company said on Tuesday.
Polestar did not provide a date for the release but said it still intends to publish first-quarter financial results on May 23.
The delay is partly because the company needs more time to finalize its financial statements over... (continue reading...)
(Reuters) -President Joe Biden's administration on Tuesday released guidance on its sustainable aviation fuel (SAF) subsidy program that allows corn-based ethanol to qualify as a feedstock provided it is sourced from farms that use climate-friendly growing techniques.
The plan is likely to be bittersweet for the politically powerful U.S. ethanol industry that is eager to secure the subsidies but had hoped for a lower hurdle.
Air travel so far... (continue reading...)
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