• Shares of Disney have continued to be negative for this year in 2021 and remain behind the S&P 500 Index Return
• As Disney’s3rd quarter earning swerve announced, it shows that streaming subscriber additions slowed down and costs for its content and Parks business rise

GM aims to produce vehicle-based on Hummer EV for the US military in 2022

• According to company officials from General Motors, the eLRV from GM Defense is expected to be based on the company’s Hummer EV
• The new vehicle will use and change components of the Hummer EV like the motors, frame, and the automaker’s “Ultium” batteries starting in 2022

Major fast-food restaurants affected by labor shortages 

• For the entire fast-food industry, the unemployment rate fell by 7% in September 2021, while food services and drinking establishments added almost 120,00 new jobs during the same month 
• Fast-food chains like Burger King and Taco Bell have reported that the lack of workers is causing restaurants to cut back open hours and some menu items

Past GM factory of Lordstown Motors bought out by Foxconn for $230 million

• By the end of April 2022, Foxconn plans to sign a contract to assemble Lordstown Motors’ first vehicle, an all-electric pickup truck named the “Endurance”
• Both companies benefit as EV start-up Lordstown Motors get desperately needed capital, and Foxconn gets to go into the EV space by producing fully electric trucks
• After the news, shares of Lordstown rose more than 13%

Elon Musk has sold more than 3.5 million shares of Tesla stock valued at over $3 billion

• In a series of trades that happened on November 8 and 9, Elon Musk sold more than 3.5 million shares that are worth over $3.88 billion
• Filings show that Musk had planned to sell a block of Tesla shares set in motion on September 14, 2021
• Musk still currently holds over 166 million shares in Tesla 

The post Business News – 11-11-2021 appeared first on Easy Ad - Local Small Business Resources.

• Angela Strand, the new chairwoman at Lordstown Motors has said that the productions plans for their electric pickup trucks Endurance will be on track to be produced in limited quantity in September
• Lordstown Motors shares have risen this Tuesday afternoon by up to 15% and evened out at $10 a share
• 2021 has been rough for Lordstown Motors lately and their stock price had been reduced by 50% this year and an additional 18.8% this Monday

• Best Buy is now beginning to sell outdoor grills, luggage, and patio furniture on their website 
• The retailer’s goal is to take advantage of the reopening economy along with other companies who want to expand their customer base online 

• Yesterday (Monday), Ford has begun shipping their Bronco SUVs from their Assembly line in Michigan
• This comeback of the Bronco SUV is seen as one of the most important product launches from Ford in decades 

The post Business News – 06-16-2021 appeared first on Easy Ad - Local Small Business Resources.

• Microsoft expects the Nuance deal to expand its market opportunity in health care
• Nuance’s CEO will report to Microsoft cloud chief Scott Guthrie, who says both companies want to target software developers, not health-care providers themselves

• Moderna said Tuesday its Covid-19 vaccine was 100% effective in a study of adolescents ages 12 to 17
• The company said it plans to ask the FDA to expand the emergency use of its Covid vaccine for teens early next month
• It is the second vaccine behind Pfizer’s to demonstrate high efficacy in younger age groups

• Shares of Lordstown Motors have tumbled after the company cancelled its production guidance for the year and says it needs to raise additional capital
• Lordstown CEO Steve Burns said the company has “encountered some challenges” as it prepares to begin producing its Endurance electric pickup truck in late September
• Lordstown said it expects to produce only about half the number of vehicles it previously forecast for this year, while increasing its planned expenses to between $335 million and $350 million

• Domestic leisure yields for tickets issued in May surpass 2019 levels, United said
• It expects that trend to continue through the summer
• Higher revenue compared with its capacity is helping the carrier narrow its losses

Amazon’s ad revenue has now become twice as big as 4 large companies combined

• The major growth in Amazon’s advertising unit means its revenue contribution is now 2.4 times larger than Snap, Twitter, Roku and Pinterest combined, and it’s growing 1.7 times as quickly, according to Loop Capital
• Amazon’s “Other” unit, which is primarily made up of advertising but also includes sales related to other service offerings, grew revenue a massive 77% year-over-year to more than $6.9 billion in the first quarter, the company reported last month

The post Business News – 5-25-2021 appeared first on Easy Ad - Local Small Business Resources.