Prices Are Rising From Trump’s Tariffs—Can Supreme Court Stop It? What To Know.https://t.co/YtNO0lGPAU https://t.co/yXJnZmTefa ...

Are tariffs a tax? Do America’s massive trade deficits constitute an emergency? Does the President have the authority to unilaterally impose tariffs? Ultimately, these questions and more are likely to be answered to some extent by the Supreme Court’sMarkets rise and fall, booms come and go, and the world keeps ticking. Ultimately, I believe observing megatrends, as difficult as they can be to spot, let alone fully comprehend, can yield insights into the advance of human society, which in turn could pave the ...

Core Insights - The president's tariff authority is being challenged in the Supreme Court, with claims that tariffs have generated hundreds of billions in revenue and supported the reshoring of American manufacturing [3][19] - American Giant, a clothing company focused on domestic manufacturing, has successfully partnered with Walmart, which has committed $350 billion to American-made products by 2030 [9][12] - The company emphasizes the importance of producing goods in the U.S. despite higher costs compared to overseas manufacturing, aiming to create jobs and maintain quality [7][8] Tariff Authority and Economic Impact - The president's use of tariffs is framed as a response to a trade deficit and offshoring, with emergency powers being utilized to address these issues [2] - The Supreme Court's deliberations on tariff authority have created uncertainty in the retail sector, potentially freezing supply chain activities [6] - Despite potential changes in tariff policies, there is an expectation that some form of tariffs will remain in place [6] American Giant's Business Model - American Giant focuses on high-quality, domestically produced clothing, including a notable partnership with Walmart to offer affordable products like a $12 t-shirt [12][13] - The company has seen growth and consumer support, particularly as awareness around domestic manufacturing and tariffs increases [16][21] - The brand's commitment to American manufacturing is highlighted as a patriotic effort to revitalize local economies and create jobs [8][24] Consumer Trends and Market Outlook - The company reports a strengthening core business, with consumers increasingly valuing domestic production and quality [15][16] - There is optimism for the upcoming holiday season, with expectations of good momentum despite broader economic uncertainties [20][21] - The collaboration with former NFL star Jason Kelsey on the Underdog collection emphasizes American craftsmanship and community investment [22][24]

I want to start by saying, you know, this is ten consecutive quarters of double digit top and bottom line growth for Shark Ninja since we've been on the New York Stock Exchange and our consumer problem solving machine was on full display this quarter. I mean, we grew our top line over 14%. We grew the adjusted EBITDA with 21%.Our gross margin rate, in fact, grew 90 basis points in the quarter. And we we leverage our operating expense. So we had a great quarter.I mean, we've been managing with tariffs now fo ...

Financial Data and Key Metrics Changes - Sales for Q3 2025 were $8.3 billion, a decrease of 2% compared to Q3 2024, primarily due to weaker North America heavy and medium-duty truck demand, with unit volumes declining 40% year-over-year [8][19] - EBITDA was $1.2 billion, or 14.3% of sales, compared to $1.4 billion, or 16.4% a year ago; excluding non-cash charges, EBITDA was $1.4 billion, or 17.2% of sales, an increase of 80 basis points from the previous year [9][20] - Operating cash flow was strong at $1.3 billion, compared to $640 million a year ago [23] Business Line Data and Key Metrics Changes - Engine segment revenues were $2.6 billion, a decrease of 11% from a year ago, with EBITDA at 10%, down from 14.7% [24] - Component segment revenue was $2.3 billion, a decrease of 15% from a year ago, with EBITDA at 12.5% compared to 12.9% [24] - Distribution segment revenues increased 7% to a record $3.2 billion, with EBITDA at a record 15.5% [24] - Power systems segment revenues were a record $2 billion, an increase of 18% from a year ago, with EBITDA increasing from 19.4% to 22.9% [25] Market Data and Key Metrics Changes - North America revenues decreased 4% compared to 2024, while international revenues increased by 2% [19] - Revenues in China were $1.7 billion, up 16% from last year, driven by stronger unit demand [11] - Revenues in India were $713 million, an increase of 3% from a year ago, with power generation revenues increasing 41% [12] Company Strategy and Development Direction - The company announced a collaboration with Komatsu to develop hybrid powertrains for heavy mining equipment, aiming to support customers' sustainability efforts [5][6] - The company is undergoing a strategic review of its electrolyzer business due to significantly lower demand expectations [16][50] - The company expects near-term weakness in North America on-highway truck markets to persist, anticipating a 15% decline in unit shipments from Q3 levels [14] Management's Comments on Operating Environment and Future Outlook - Management noted that the global trade and policy landscapes remain dynamic, presenting ongoing challenges [14] - The company is hopeful for stabilization in global trade policy and clarity on EPA regulations, which will support plans to reinstate guidance for 2026 [17][28] - Management expressed cautious optimism about demand in North America on-highway markets nearing a bottom [28] Other Important Information - The company faced $240 million in non-cash charges related to its electrolyzer business, reflecting lower demand expectations [9][20] - Tariff costs increased in Q3, but the company managed to recover a greater proportion of these costs through pricing [19][26] Q&A Session Summary Question: Engine margins in the fourth quarter and power systems margin targets - Management indicated that engine business faces complexities with product changeover and additional costs, but they are managing costs effectively [32] - Power systems have shown strong performance, and management is committed to investing for profitable growth [36] Question: Capacity additions and future investments - Management confirmed that they are reaching the end of capacity expansion for large engines and are actively exploring additional capacity investments in response to strong demand [40][42] Question: Impact of Section 232 tariffs - Management stated that they need more details to quantify the headwind from tariffs and emphasized their strong manufacturing position in the U.S. [44][46] Question: Performance of Accelera segment - Management noted that most losses in the Accelera segment are from electrolyzers, and they are looking at actions to reduce these losses [48][50] Question: Natural gas engines and data center opportunities - Management highlighted their capability in natural gas engine development and the importance of high reliability for data centers [54]

Financial Data and Key Metrics Changes - Sales for Q3 2025 were $8.3 billion, a decrease of 2% compared to Q3 2024, primarily due to weaker North America heavy and medium-duty truck demand, with unit volumes declining 40% year-over-year [6][12] - EBITDA was $1.2 billion, or 14.3% of sales, compared to $1.4 billion, or 16.4% a year ago; excluding non-cash charges, EBITDA was $1.4 billion, or 17.2% of sales, an increase of 80 basis points from the previous year [7][8][19] - Operating cash flow was strong at $1.3 billion, compared to $640 million a year ago, indicating improved credit metrics and capital allocation flexibility [23] Business Line Data and Key Metrics Changes - Engine segment revenues were $2.6 billion, a decrease of 11% from a year ago, with EBITDA at 10%, down from 14.7% due to weaker North American truck volumes [23] - Component segment revenue decreased 15% to $2.3 billion, with EBITDA at 12.5% compared to 12.9% a year ago, impacted by weaker on-highway demand [24] - Distribution segment revenues increased 7% to a record $3.2 billion, with EBITDA at a record 15.5% driven by higher power generation demand [24] - Power systems segment revenues reached a record $2 billion, an increase of 18% from a year ago, with EBITDA increasing from 19.4% to 22.9% [25] Market Data and Key Metrics Changes - North America revenues decreased 4% compared to 2024, with heavy-duty truck industry production down 34% and medium-duty truck production down 51% [9][12] - In China, revenues were $1.7 billion, up 16% from a weak quarter last year, driven by stronger unit demand, with industry demand for medium and heavy-duty trucks increasing by 50% [10] - India revenues were $713 million, an increase of 3% from a year ago, with power generation revenues increasing 41% due to strong data-centered demand [11] Company Strategy and Development Direction - The company announced a collaboration with Komatsu to develop hybrid powertrains for mining equipment, aiming to support customers' sustainability efforts [4][5] - The company is undergoing a strategic review of its electrolyzer business due to significantly lower demand expectations, with potential further charges anticipated [15][49] - The company expects near-term weakness in North America on-highway truck markets to persist, with a projected 15% decline in unit shipments from Q3 levels [12][27] Management's Comments on Operating Environment and Future Outlook - Management noted that the global trade and policy landscapes remain dynamic, presenting ongoing challenges, particularly with tariff costs increasing [13][15] - There is cautious optimism regarding the bottoming of North American on-highway markets, with expectations for demand recovery in the future [27] - Management emphasized the importance of clarity in trade and regulatory policies for reinstating guidance for 2026 [16][27] Other Important Information - The company faced $240 million in non-cash charges related to its electrolyzer business, reflecting lower demand expectations due to reduced U.S. government incentives [8][19] - The effective tax rate for the quarter was 32.7%, impacted by increased tax expenses related to recent U.S. tax legislation [21] Q&A Session Summary Question: Engine margins outlook for Q4 and power systems margin targets - Management indicated that engine margins are expected to remain under pressure due to product changeovers and additional costs, but efforts are being made to manage costs effectively [32][34] - For power systems, strong performance is anticipated, with continued investment for profitable growth, although incremental margin improvements may not continue at the same rate [34][35] Question: Capacity additions and future investments in data centers - Management confirmed that capacity investments for large engines are nearing completion, with expectations for a 30-35% revenue increase in the data center market for 2025 [39][40] Question: Impact of Section 232 tariffs - Management acknowledged the uncertainty surrounding tariffs and their impact on profitability, emphasizing the need for more clarity to predict future financial implications [43][45] Question: Performance of Accelera segment and e-mobility growth - Management noted that e-mobility is growing, particularly in bus applications, while the electrolyzer segment has faced significant challenges, leading to strategic reviews [60][61]

Swiss companies have expressed keen interest in expanding in the US as part of their nation's effort to ease American tariffs, Trump's top trade adviser says https://t.co/WbINnxUhuF ...

分组1 - Tesla shareholders are voting on a proposed $1 trillion pay package for CEO Elon Musk, with significant opposition from major shareholders like Norway's Sovereign Wealth Fund [3][4] - US companies announced over 153,000 job cuts in October, marking the highest number in over two decades, driven by cost-cutting measures and the impact of AI on industries [3][4] - The Federal Aviation Administration plans to cut flights by 10% at 40 major airports due to a government shutdown, affecting approximately 3,500 to 4,000 daily flights [4][5] 分组2 - AstraZeneca reported its largest quarterly revenue of $15.2 billion, driven by strong sales of cancer drugs, exceeding market expectations [13][14] - AstraZeneca's revenue grew by 11% year-to-date, with earnings per share increasing by 15%, although market reaction to the results has been muted [14][15] - The company aims for the US market to represent 50% of its global ambition of $80 billion by 2030, indicating significant investment plans in the US [16][17] 分组3 - AstraZeneca has paused investment plans in the UK due to declining government funding for pharmaceutical innovation, while committing to invest $50 billion in the US by 2030 [20][21] - The company is transitioning to a dual listing, allowing shares to be traded on the New York Stock Exchange, which is expected to enhance accessibility for American investors [22][24] 分组4 - Alphabet's shares rose by 2.41% as the company continues to push for dominance in AI, with potential earnings from a $1 billion deal with Apple to enhance Siri [27][28] - Snap's shares surged by around 20% after reporting stronger-than-expected earnings and a rebound in ad demand, forecasting a 15% revenue growth for the current quarter [30] - Qualcomm reported better-than-expected fourth-quarter earnings and issued optimistic guidance, despite facing a one-time non-cash tax charge of $5.7 billion [49][50]

German Chancellor Friedrich Merz backed proposed EU tariffs to protect the continent’s struggling steelmakers and reaffirmed his government’s commitment to securing steel production and jobs https://t.co/EfwTBolTDa ...

Good to have you with us this morning. I'm Joe Frier >> and I'm Savannah Sers. We're going to begin this morning with a major warning that could impact air travel this weekend and beyond.Officials from the Trump administration say they are going to start cutting air traffic at dozens of the nation's busiest airports starting tomorrow. >> If you thought traveling was unpredictable now, well, just wait. This move could prompt airlines to cut thousands of flights on short not the holiday travel rush starts to ...