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Vivian Wan / Bloomberg via Getty ImagesKEY TAKEAWAYSGSK’s shares are falling 4% in premarket trading Wednesday after the British pharma giant posted lower-than-estimated quarterly sales and lowered its projection for vaccine sales.The company reported third-quarter sales of 8.01 billion pounds ($9.59 billion), down 2% year-over-year on lower vaccine sales and below consensus estimates of analysts polled by Visible Alpha of 8.09 billion pounds.The U.K. firm, whose vaccines include Arexvy and Shingrix, now expects 2024 vaccine sales to decrease by a low-single digit percentage.GSK’s (GSK) shares are falling 4% in premarket trading Wednesday after the British pharma giant posted lower-than-estimated quarterly…

News of the day for October 30, 2024David L. Ryan / The Boston Globe via Getty ImagesGoogle parent Alphabet (GOOGL) shares are jumping in premarket trading after the tech giant beat earnings estimates on surging cloud revenues; Eli Lilly (LLY) shares are tumbling after its results missed the mark; Advanced Micro Devices (AMD) stock is sinking after its net income and sales guidance disappointed investors; shares of Chipotle Mexican Grill (CMG) are dropping after its same-store sales outlook came in below expectations; and Microsoft (MSFT) and Meta (META) shares are rising ahead of their earnings reports after the close. Here’s…

A flooded slum area near Valencia on Wednesday.JOSE JORDAN/AFP via Getty ImagesSpain’s eastern province of Valencia was hit by intense, historic rainfall.At least 62 people were killed in flash floods in the region, local emergency services said.The region is a big part of Spain’s economy, with significant auto and manufacturing industries.Historic, deadly flash floods in eastern Spain roiled the region.The floods, brought about by torrential rains, killed at least 62 in the province of Valencia, regional emergency services said, citing a provisional death toll.Though heavy rains are common in the region in fall — part of a phenomenon known as…

sruilk/ Getty ImagesMy grandparents took me in when I was a baby and raised me.In my mid-20s, my mom started losing her memory, which made me feel isolated.My fiancé and I are planning our wedding as fast as we so she can be part of our wedding.When I was growing up in a Jewish school, the Rabbi’s son asked me, “What’s it like to live with your grandparents?” It was an innocent question but not a surprising one. My grandparents took me in when I was a baby, and I do not remember life before them. To me, they are…

The Xiaomi SU7 Ultra is the high-performance version of the smartphone maker’s first electric car.XiaomiFord CEO Jim Farley is a big fan of Xiaomi’s SU7 EV — and it just got a major upgrade.The Chinese tech giant unveiled the SU7 Ultra, a high-performance EV with a maximum speed above 200 mph.The SU7 has already proven a hit in China.Ford CEO Jim Farley’s favorite Chinese EV just got a major upgrade.Chinese tech firm .Citibank analysts previously estimated that they expected Xiaomi’s auto operation to turn a profit after hitting annual sales of 300,000 to 400,000 vehicles.Read the original article on Business…

Volkswagen is searching for ways to cut costs. JENS SCHLUETER / AFPGermany’s automotive industry is facing an increasingly difficult outlook.Volkswagen may close factories in Germany for the first time, and BMW and Mercedes-Benz are struggling.Experts told BI that all three companies face slumping EV sales and brutal competition in China.Germany’s car giants were once the envy of the world, but now find themselves facing a myriad of threats.BMW and Mercedes-Benz have issued profit warnings in recent weeks amid slumping EV sales in Europe and brutal competition in China, while Volkswagen is also facing a reckoning.On Wednesday VW said net profit…

Source: TradingView.comKey TakeawaysReddit shares surged in premarket trading on Wednesday after the company reported earnings that topped estimates and provided a strong outlook, as the social media platform benefits from robust digital advertising spending and lucrative AI content licensing deals.Since going public in March, Reddit shares oscillated within an ascending triangle before breaking out above the pattern’s top trendline earlier this month.The measuring principle, which calculates the distance between the ascending triangle’s two trendlines and adds that amount to the breakout point, projects an upside target in the stock of $115.During retracements, investors should monitor important support levels on Reddit’s…

TKElijah Nouvelage/Getty ImagesKamala Harris has many powerful business ties to assemble a potential Cabinet.Mark Cuban and her brother-in-law, Uber’s Tony West, may be out of contention.But these are the candidates Harris could be considering if she prevails.Billionaire business leaders and Silicon Valley elites are throwing their support behind Donald Trump and Kamala Harris in ways both loud and quiet.And either candidate, if elected, is likely to lean on the business sector in building their respective Cabinets.Trump has already confirmed Elon Musk would have a role in his administration. And while Harris has her own ties to Wall Street, it appears…

AJ Mast / Bloomberg via Getty ImagesEli Lilly (LLY) shares tumbled 12% at the opening bell Wednesday after its third-quarter results fell well short of analysts’ estimates and it lowered its full-year guidance.The pharmaceutical giant registered $11.44 billion in revenue—above last year’s $9.50 billion but below the $12.18 billion consensus estimate of analysts polled by Visible Alpha—as weight-loss drugs Mounjaro and Zepbound continue to boost Eli Lilly’s sales. However, analysts were looking for greater sales of the blockbuster drugs.Lilly swung to a profit of $970.3 million, or $1.07 per share, but still well below the $1.69 billion and $1.87 per…

Screenshot showing a torpedo in a video shared by the Houthi Media Center on October 27, 2024.Houthi Media CenterThe Houthis unveiled a new torpedo, nicknamed Calamity.The weapon resembles a US sea drone the group captured years ago, analysts told BI.There are prior examples of US weaponry being turned against it, with help from Iran.The Houthi rebels in Yemen have a new torpedo to show off — and it looks familiar.The militant group .The attacks have disrupted global shipping, adding risk to a pivotal route. Freight rates doubled to nearly $4,000 per container in January and then jumped to over $5,900…