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Tesla, Inc (NASDAQ:TSLA) looks to run two shifts at its Shanghai plant from May 16, Reuters reports. The additional shift would enable the EV maker to return factory output to pre-lockdown levels. Tesla aims to churn out 2,600 electric cars from the Shanghai plant per day. Also Read: Tesla Shanghai Workers Forced To…

My maternal grandfather was an artist who was a sign-writer. On commission, and under the eye of the public, he painted the giant Queen Elizabeth for the 1954 ‘Royal Visit’ and the giant Captain Cook (with map of ‘New Holland’) for the 200th ‘celebrations’. These lines, read on their own,…

Tesla, Inc (NASDAQ:TSLA) chief Elon Musk will likely serve as Twitter, Inc's (NYSE:TWTR) temporary CEO for a few months post the $44 billion takeover closes, CNBC reports. As per sources to CNBC's David Faber, Musk recently led investor presentations offering financial projections based on his analysis of Twitter. Musk complained against Twitter's EBITDA margin…

Caterpillar Inc. (NYSE:CAT) has acquired Tangent Energy Solutions, a U.S.-based energy-as-a-service (EaaS) company. Deal terms were not disclosed. Kennett Square, Pennsylvania-based Tangent offers customers turnkey solutions to lower energy costs, boost energy efficiency, reduce emissions, monetize electric grid support, and provide resiliency for customer operations. Tangent's software solutions monitor patterns from grid…

Crocs Inc (NASDAQ:CROX) reported first-quarter FY22 sales growth of 43.5% year-on-year, to $660.15 million, beating the consensus of $621.88 million. Wholesale revenue grew 48.7%, and Direct-to-consumer (DTC) sales increased 34.6% Y/Y. HEYDUDE Brand revenues were $114.9 million for the period following the closing of the acquisition on February 17, 2022, through March 31, 2022. Adjusted…

Kellogg Company (NYSE:K) reported first-quarter FY22 sales growth of 2.4% year-on-year to $3.67 billion, beating the consensus of $3.59 billion. Adjusted EPS of $1.10 beat the analyst consensus of $0.93. Kellogg North America's sales decreased 1%, Europe climbed 2%, Latin America's sales gained 8%, Asia Pacific, Middle East, and Africa's sales jumped 12%.…

Australia’s Qantas Airways (OTC:QABSY) said it is acquiring the remaining 80% stake in Alliance Aviation Services for A$610.8 million ($443.14 million) in an all-stock deal, Reuters reported. The acquisition is expected to expand Qantas’ presence in the charter business. The airways will make use of the increased activity in the mining sector after reopening international…

Shell Plc (NYSE:SHEL) reported a record Q1 profit of $9.13 billion, up 43%, boosted by higher oil and gas prices, stellar refining profits, and the strong performance of its trading division. The company reported the highest quarterly profit since 2008, even after writing down $3.9 billion post-tax due to its decision to…

Warren Buffett's Berkshire Hathaway Inc (NYSE: BRK-B) has bought another 5.9 million shares of Occidental Petroleum Corporation (NYSE:OXY), boosting its stake in the oil company to ~15.2%. Occidental's share price has doubled this year, benefiting from Berkshire's purchases and rising oil prices, with a further boost from the Ukraine crisis. The purchases made on May 2…

Cedar Fair L.P. (NYSE:FUN) reported first-quarter FY22 revenues of $98.8 million, beating the consensus of $76.93 million. During 1Q22, the parks had 130 operating days compared to zero in 1Q21 as the pandemic impacted operations. In-park per capita spending was $58.86 versus $46.13 in 1Q19. Out-of-park revenues for the quarter totaled $16…

CVS Health Corp's (NYSE:CVS) Q1 sales increased 11.2% Y/Y to $76.83 billion, beating the consensus of $75.39 billion. Adjusted operating income increased 6.6% to $4.48 billion primarily due to increased prescription and front store volume, including the sale of COVID-19 OTC test kits and the impact of COVID-19 vaccinations in the Retail/LTC…