Latest news for Electrolux (OTC:ELUXY) Stock

A B ELECTRLX S ADR#

Electrolux AB is a Sweden-based company that is principally engaged in manufacturing home appliances and appliances for professional use. Its products are categorized into kitchen products, laundry products, small appliances, professional kitchen products, professional laundry products, and adjacent products, with kitchen products accounting for more than half of total revenue. The company's brands include Electrolux, AEG, Zanussi, Frigidaire, and Electrolux Grand Cuisine. The company has a business presence, including North America, Europe, Latin America, Africa, the Middle East, and Asia, with North America and Europe jointly contributing over half of the total revenue.

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The momentum trade has been exhausted by the large-capitalization stocks in the market, especially those in the technology sector, as names like Nvidia Co. (NASDAQ: NVDA) keep making new all-time highs.

Banks Think Small Cap Stocks Need to Catch Up: 3 Winners

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Biden&#39;s &#39;Hazard Alert&#39; Takes Aim At Worker Heat Protection Amid Sweeping US Heatwave

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7 Air Conditioner Stocks For This Summer&#39;s Infernal Heat Wave

Electrolux AB

The momentum trade has been exhausted by the large-capitalization stocks in the market, especially those in the technology sector, as names like Nvidia Co. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nvda#NASDAQ">NVDA</a>) keep making new all-time highs. For this reason, quants at PGIM believe that Wall Street may soon rotate into small-capitalization stocks to squeeze further returns.
As the soldiers follow the general, stocks like SolarEdge Technologies Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sedg#NASDAQ">SEDG</a>), AB Electrolux (OTC: <a class="ticker" href="https://www.benzinga.com/stock/eluxy#OTC">ELUXY</a>), and even Antero Resources Co. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ar#NYSE">AR</a>) were once falling behind and could now catch up to the broader indexes. Each was tied to its own set of economic tailwinds, and analysts and institutions had enough reasons to boost and buy them.
Small businesses tend to outperform bigger ones during easing economic cycles. Now that the Federal Reserve (the Fed) is looking to cut interest rates in 2024, these small-capitalization names could help retail investors expand their wealth on the next wave of economic activity.
<h2>SolarEdge: Oil&#39;s Ugly Cousin </h2>
Oil prices have finally broken out of their $80 a barrel ceiling, and analysts at The Goldman Sachs Group Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gs#NYSE">GS</a>) believe it could go as high as $100 a barrel this year.
Because the Fed could likely cut interest rates by May or June 2024, or so do traders think, according to the FedWatch tool in the CME Group Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cme#NASDAQ">CME</a>), commodities like oil are advancing in the expectation of an economic breakout.
While most may run to energy stocks, others could spot the spillover opportunity in green energy stocks like SolarEdge. When oil becomes more expensive, alternative energy sources like solar become more attractive, which is where this stock comes into play.
There must be a reason why analysts think its earnings per share (EPS) could grow by as much as 330% over the next 12 months. EPS typically drives stock prices and valuations; SolarEdge stock trades at only 22% of its 52-week high despite these growth projections, a gap to be filled by investors with enough stomach to buy a small name.
Those at The PNC Financial Services Group Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pnc#NYSE">PNC</a>) had enough stomach, increasing their stock position by 41.5%, a roughly $585,000 purchase.
More than that, analysts now have a $109 price target on the stock, calling for 55% upside from today&#39;s prices.
<h2>The Buffett Effect Hits Electrolux</h2>
Interest rate cuts could also affect the future trends in mortgage rates. Historically, mortgage rates (namely the fixed 30-year rate) follow the overall credit market, where the Fed&#39;s interest rate reigns king.
Betting on the spur of new construction activity, as a result of added real estate demand from more accessible financing, Buffett bought homebuilding stocks like D.R. Horton Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dhi#NYSE">DHI</a>) and others.
New homes put up for sale typically bring appliances with them, whether it is in the kitchen or others like air conditioning. With 35% of its sales coming from the North American market, Electrolux could represent a viable way for investors to ride the side effects of this real estate boom.
This could be one of the reasons why Wall Street analysts expect more than 1,000% growth in earnings per share (EPS) in Electrolux for the next 12 months.
More than that, the stock trades at only 50% of its 52-week high, which happens to be a price not seen since the financial crisis of 2008; even with this bearish momentum as of late, short interest in the stock dropped by 62.5% in the past month, opening the way for new buyers to come in.
<h2>Antero Leading in Oil&#39;s High </h2>
The same oil trends helping renewable energy stocks like SolarEdge are the ones that could bring Antero Resources higher. Oil is now trading at $85 a barrel, a price not seen since October 2023, bringing the cost of Antero stock back to its October 2023 levels.
At 96% of its 52-week high, the stock could break into a new prolonged uptrend if oil prices allow further expansion. Analysts and their 580% EPS growth projections could make this upward path a reality by showing Main Street where the juice is.
As of March 2024, J.P. Morgan Chase &amp; Co. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/jpm#NYSE">JPM</a>) boosted their price targets for Antero stock to $32 a share, shooting for nearly 10% upside from today&#39;s prices. Since oil has risen significantly since that last boost, investors could expect another round.
Being the macro asset manager it is, the Vanguard Group increased its position in Antero by 0.6% in the last quarter, a roughly $3.7 million purchase.
The article &quot;<a href="https://www.marketbeat.com/stock-ideas/banks-think-small-cap-stocks-need-to-catch-up-3-winners/">Banks Think Small Cap Stocks Need to Catch Up: 3 Winners</a>&quot; first appeared on MarketBeat.

As a heatwave charges across the U.S. affecting over half of the population, President Joe Biden issued a call to protect workers and invest in key areas to combat the impact of <a href="https://www.benzinga.com/topic/heat-wave">extreme weather events</a>.
What Happened: In a first, Biden directed the Department of Labor to issue a &#8220;Hazard Alert&#8221; emphasizing heat-related worker protections under federal law. Biden also pledged to step up inspections in high-risk sectors such as construction and agriculture.
The president's announcements came as scorching temperatures, especially in the South and Southwest, strained power grids, leading to power outages, heat-related injuries, and even deaths.
More than 151 million people are currently under some kind of heat alert, making the issue of climate change more urgent and palpable than ever.
Biden said his administration is set to invest up to $7 million from the Inflation Reduction Act to enhance weather forecasts and $152 million from the Bipartisan Infrastructure Law to expand water storage in drought-prone regions.
In the face of current extreme conditions, air conditioning has gone from being a luxury to a necessity.
<a href="https://www.benzinga.com/trading-ideas/long-ideas/23/07/33393424/amazon-falls-following-reports-ftc-aims-to-break-up-the-company-a-technical-analysis">Benzinga previously reported</a> on data issued by SkyQuest Technology, which showed the air conditioning market is set to grow at a 6.2% compound annual growth rate from 2022 to 2028, reaching $172.48 billion by 2028.
Demand is highest in the Asia Pacific region, but North America and Europe are catching up quickly. In North America alone, the air conditioner market is projected to reach $35.6 billion in 2030, GrandView Research data showed.
A/C Enters the Room: As climate change turns up the heat, consumer electronics companies — particularly those manufacturing air conditioning units — stand to benefit.
U.S.-based Carrier Global Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CARR#NYSE">CARR</a>) recently entered a deal to acquire Germany-based Viessmann Climate Solutions to expand in the European market. Whirlpool Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WHR#NYSE">WHR</a>) and Emerson Electric Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EMR#NYSE">EMR</a>) are also seeing positive trends, according to <a href="https://www.benzinga.com/news/23/07/33272913/7-air-conditioner-stocks-for-this-summers-infernal-heat-wave">prior Benzinga reporting</a>.
In addition, non-U.S.-based companies like Electrolux AB (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ELUXY#OTC">ELUXY</a>), Hitachi Ltd (OTC:<a class="ticker" href="https://www.benzinga.com/stock/HTHIY#OTC">HTHIY</a>), Mitsubishi Electric ADR (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MIELY#OTC">MIELY</a>), and Toshiba Corp (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TOSYY#OTC">TOSYY</a>) are seeing favorable pricing trends.
As the demand for air conditioning surges, addressing the energy demands and environmental implications linked to their usage will remain a challenge. Read Next: <a href="https://www.benzinga.com/news/23/07/33273161/heatwave-havoc-june-2023-takes-the-title-for-hottest-month-on-record">Heatwave Havoc: June 2023 Takes The Title For Hottest Month On Record</a>
Photo: Shutterstock

Biden's 'Hazard Alert' Takes Aim At Worker Heat Protection Amid Sweeping US Heatwave

As the climate crisis keeps pushing heat metrics to new records, some territories on Earth are starting to periodically feature weather conditions that are <a href="https://www.benzinga.com/news/23/07/33177611/earth-is-screaming-meteorologist-warns-amid-unprecedented-heatwave-need-to-listen">too extreme for human life</a>.
The world is experiencing several focal points of extreme heat. Some cities in the American South and Southwest broke daily records this summer. Phoenix, Arizona is set to break a new record on Tuesday, as the Valley of the Sun enters its 19th consecutive day above 110 degrees F. The previous record of 18 consecutive days, from 1974, was tied on Monday.
During the weekend, the area of Death Valley in California marked a daily record of 128 degrees F, just a few degrees shy of reaching the highest temperature ever recorded on Earth.
But the magnitude of the crisis is global. Asia, the Middle East and Europe are also experiencing new heat records. On Sunday, the Xinjiang region of China broke its own record, reaching 126 degrees F. A heat wave is battering Italy, Greece and Spain. The heat index in Asaluyeh, Iran reached 152 degrees F on Monday.
<h3 class="wp-block-heading">The Rise Of The Air Conditioner</h3>
Far from isolated events, the rising temperature and humidity levels of recent years are consistent with climate change research. For the air conditioning industry, this means an unprecedented increase in demand, as air conditioning units shift in public perception from a luxury good to an item of first necessity.
In parts of the world where the wet-bulb temperature reaches 95 degrees F at 100% humidity, the human body is no longer able to maintain its homeostatic processes, and entering an air conditioned room becomes a matter of life and death.
Paradoxically, increased energy demand from the use of air conditioning is one of the largest contributors to greenhouse gas emissions, which in turn continue to contribute to global warming and extreme climate events. This type of process is referred to in climate science as a "positive feedback loop" and is specifically known as the "air conditioning paradox."
A global shift to clean sources of energy generation, <a href="https://www.benzinga.com/news/23/05/32355261/elon-musk-and-bill-gates-agree-on-something-how-public-support-for-nuclear-power-could-be-moving-for">including nuclear power</a>, will be needed in order to mitigate the environmental cost of rising air conditioner use.
According to a recent report published by research firm SkyQuest Technology, the air conditioning market is expected to experience an average compound annual growth rate of 6.2% from 2022 to 2028, reaching a value of $172.48 billion by 2028.
<a href="https://www.benzinga.com/news/23/06/33064887/if-summer-smoke-becomes-the-new-normal-in-the-midwest-and-northeast-which-industries-will-benefit">Worsening air quality in major urban centers</a> is another fuel for the industry's growth, which will stem primarily from the Asia Pacific region, followed by North America and Europe. Many territories that historically have not had a need for air conditioning are now seeing increased demand.
According to a separate report by GrandView Research, the total market for air conditioners in North America today stands at $24.6 billion and is expected to reach $35.6 billion in 2030.
Companies in the consumer electronics sector are some of the best situated to benefit from this growth. Some of the largest are U.S.-based, and the stocks have experienced rising prices throughout last month, partly riding <a href="https://www.benzinga.com/news/23/07/33167227/narrow-rally-top-6-tech-companies-drive-tech-sectors-historic-half-year-performance-analyst-says">the positive wave sweeping across the tech sector</a>.
<ul>
<li>Carrier Global Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CARR#NYSE">CARR</a>) is up 15.5% in the last month. Last week, four analysts raised their Carrier price targets to between $49 and $54 vs. a current stock price of $55. The company recently agreed to acquire Germany-based Viessmann Climate Solutions in a 12-billion-euro ($13.4 billion) cash-and-stock deal that will make it strategically positioned to advance in the European market. Carrier will reports its earnings for the second quarter on July 27.</li>
<li>Whirlpool Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WHR#NYSE">WHR</a>) is up 4.7% in the last month and its second-quarter results are due on July 24.</li>
<li>Emerson Electric Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EMR#NYSE">EMR</a>) is up 5.4% in the last month. Its third-quarter results are expected to come in early August.</li>
</ul>
Other air conditioner giants not headquartered in the U.S. have also experienced a positive pricing trend in the last month.
<ul>
<li>Class B ADR shares of Swedish manufacturer Electrolux (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ELUXY#OTC">ELUXY</a>) are up 10.8% in the last month.</li>
<li>Japanese conglomerate Hitachi Ltd (OTC:<a class="ticker" href="https://www.benzinga.com/stock/HTHIY#OTC">HTHIY</a>) is up 4% in the last month.</li>
<li>ADR shares of Mitsubishi Electric (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MIELY#OTC">MIELY</a>) are up 7.1% in the last month.</li>
<li>Toshiba Corp (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TOSYY#OTC">TOSYY</a>) is up 2.1% in the last month.</li>
</ul>
Image made using MidJourney AI.

7 Air Conditioner Stocks For This Summer's Infernal Heat Wave

Wall Street Journal
<a class="editor-rtfLink" href="https://www.benzinga.com/government/22/10/29456147/teslas-autopilot-draws-regulatory-ire-from-doj-and-sec" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Tesla&rsquo;s Autopilot Draws Regulatory Ire From DoJ and SEC</a>
<ul>
<li>Federal prosecutors and securities regulators investigated whether&nbsp;Tesla Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>) misled consumers and investors about the performance of its advanced driver-assistance system.</li>
<li>The Justice Department scrutinized Tesla&rsquo;s statements about the safety and functionality of the system known as Autopilot. The SEC conducted a similar civil investigation.</li>
<li>The U.S. auto-safety regulator and the California Department of Motor Vehicles also scrutinized Autopilot.</li>
</ul>
&nbsp;
Financial Times
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/10/29453166/tiktok-is-bullish-on-gaming-despite-china-crackdown-to-launch-standalone-gaming-channel" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">TikTok Is Bullish On Gaming Despite China Crackdown, To Launch Standalone Gaming Channel</a>
<ul>
<li>ByteDance Ltd&rsquo;s&nbsp;TikTok&nbsp;made a big push into gaming, adding a dedicated tab within the short-form video platform.</li>
<li>In the U.S.,&nbsp;Netflix, Inc&nbsp;(NASDAQ:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/nflx#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">NFLX</a>) launched mobile games in 2021, filling a void left by&nbsp;Snap Inc&nbsp;(NYSE:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/snap#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">SNAP</a>) Snapchat and&nbsp;Meta Platforms Inc&nbsp;(NASDAQ:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/meta#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">META</a>) Facebook, which scrapped their gaming platforms.</li>
<li>Users can access the games via a button on the homepage. It will feature a host of mobile games with provision for ads, and users can pay for additional content.</li>
</ul>
&nbsp;
Reuters
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/10/29457332/volkswagen-expects-supply-crisis-higher-costs-to-persist-make-significant-investments-in-mexico" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Volkswagen Expects Supply Crisis, Higher Costs To Persist; Made Significant Investments In Mexico</a>
<ul>
<li>Volkswagen AG&nbsp;(OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/vlkaf#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">VLKAF</a>) (OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/vwagy#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">VWAGY</a>) expects the volatile parts supply situation and mounting pressure from rising raw material and energy costs to continue in the fourth quarter and beyond 2022 after stagnated earnings in the third quarter.</li>
<li>Volkswagen said it will invest $763.5 million between 2022 and 2025 at its complex in the central state of Puebla, to build a new paint plant and start production of a new gasoline-powered car.</li>
<li>Continental AG&nbsp;(OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/cttaf#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">CTTAF</a>) (OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/cttay#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">CTTAY</a>) looked to invest around &euro;210 million ($209.16 million) to open a new automotive electronics factory and expand capacity at an existing brake components plant in the central state of Guanajuato.</li>
<li>Continental said it expects to generate more than 1,500 new jobs over the next three years through the expansion.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/large-cap/22/10/29456996/american-airlines-pilot-poised-to-receive-19-pay-hike-over-two-years" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">American Airlines Pilot Poised To Receive 19% Pay Hike Over Two Years</a>
<ul>
<li>American Airlines Group Inc&nbsp;(NASDAQ:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/aal#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">AAL</a>) has offered to increase the pay for its pilot by 19% over two years in a new contract.</li>
<li>American pilots will get a 12% raise when the contract is signed, with another 5% hike after a year and another 2% after two years.</li>
<li>The latest proposal compares the company&rsquo;s June offer to hike base pay by about 17% through 2024, which could cost the airline more than $2 billion.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/general/biotech/22/10/29457109/national-institutes-of-healths-long-covid-initiative-to-assess-pfizers-antiviral-pill-as-potentia" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">National Institutes of Health&rsquo;s Long COVID Initiative To Assess Pfizer&rsquo;s Antiviral Pill As Potential Treatment</a>
<ul>
<li>The National Institutes of Health&rsquo;s $1 billion RECOVER Initiative has decided to study&nbsp;Pfizer Inc&rsquo;s&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pfe#NYSE">PFE</a>) antiviral drug Paxlovid as a potential treatment for long COVID.</li>
<li>According to details posted on Clinicaltrials.gov, the randomized, placebo-controlled trial will test Pfizer&rsquo;s treatment or placebo in 1,700 adult volunteers.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/10/29455569/ford-ordered-to-pay-105m-to-versata-software-for-license-breach-report" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Ford Ordered To Pay $105M To Versata Software For License Breach</a>
<ul>
<li>Ford Motor Co&nbsp;(NYSE:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/f#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">F</a>) has been ordered to pay&nbsp;Versata Software Inc&nbsp;$104.6 million by a federal jury in Detroit for a license contract breach.</li>
<li>Ford was accused of a 2004 licensing contract breach and misappropriating trade secrets. The company was held liable after a fifteen-day trial.</li>
<li>Versata said it had licensed its automotive software to Ford from 1998 &ndash; 2015. Through the software, Ford&rsquo;s engineers and marketing agents came together to design vehicles with &ldquo;seamless real time updates&rdquo; worldwide.</li>
</ul>
&nbsp;
Benzinga
<a class="editor-rtfLink" href="https://www.benzinga.com/news/earnings/22/10/29452635/amazon-plans-to-tighten-belt-in-q4-with-hiring-freeze-after-revenue-miss" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Amazon Plans To &lsquo;Tighten Belt&rsquo; In Q4 With Hiring Freeze After Revenue Miss</a>
<ul>
<li>Amazon.com Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amzn#NASDAQ">AMZN</a>), which had a revenue miss in its third-quarter earnings, is preparing to tighten its belt in the fourth quarter.</li>
<li>The company&rsquo;s CFO&nbsp;Brian Olsavsky&nbsp;said the company encountered &ldquo;moderating sales&rdquo; and saw foreign currency headwinds in the third period and expects these impacts to remain in place during the fourth quarter.</li>
<li>Olsavsky said, during the company&rsquo;s earnings call, on Thursday, &ldquo;As we&rsquo;ve done at similar times in our history, we&rsquo;re also taking actions to tighten our belt, including pausing hiring in certain businesses and winding down products and services where we believe our resources are better spent elsewhere.&rdquo;</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/10/29454962/youtube-rolls-out-dedicated-tab-for-shorts-to-make-it-easy-for-viewers-to-filter-content" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">YouTube Rolls Out Dedicated Tab For Shorts To Make It Easy For Viewers To Filter Content</a>
<ul>
<li>Alphabet Inc.&rsquo;s&nbsp;(NASDAQ:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/goog#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">GOOG</a>) (NASDAQ:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/googl#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">GOOGL</a>)&nbsp;YouTube&nbsp;has rolled out separate tabs for&nbsp;Shorts, live streams, and long-form videos on all channel pages.&nbsp;</li>
<li>On Thursday, YouTube said that based on &ldquo;feedback&rdquo;, it was &ldquo;beginning to roll out separate tabs for Shorts, live streams, and long-form videos on all channel pages.&rdquo;</li>
<li>As a result, Shorts won&rsquo;t appear in the same tab as videos on channel pages.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/earnings/22/10/29455850/exxon-boosts-quarterly-dividend-after-four-fold-increase-in-q3-earnings" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Exxon Boosts Quarterly Dividend After Four-Fold Increase In Q3 Earnings</a>
<ul>
<li>Exxon Mobil Corp&nbsp;(NYSE:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/xom#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">XOM</a>) has posted a&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/22/10/b29454810/exxonmobil-announces-third-quarter-2022-results" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Q3 profit of $4.45 per share</a>, a robust increase over $1.58 a year ago versus the consensus of $3.65. But the company&rsquo;s revenue, at $112.07 billion, jumped 52% Y/Y, missing the $134.28 billion analysts were expecting.</li>
<li>The oil giant raised the quarterly by $0.03 to $0.91 per share, payable on December 9th. The company said the increase reflects confidence in its strategy, business performance, and financial strength.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/10/29453195/apple-defies-smartphone-market-slump-in-q3-as-shipments-climb-8-yoy-report" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Apple Defies Smartphone Market Slump In Q3 As Shipments Climb 8% YoY</a>
<ul>
<li>Apple Inc&nbsp;(NASDAQ:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/aapl#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">AAPL</a>) was the lone smartphone vendor to register year-over-year growth in shipments in the third quarter, which suggests the&nbsp;iPhone&nbsp;revenue upside the company reported for the quarter was in part due to volume growth.</li>
<li>Cupertino-based Apple&rsquo;s smartphone shipments rose 8% to 53 million units in the third quarter, according to a new report released by market research firm Canalys.&nbsp;</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/10/29456412/home-appliance-maker-electrolux-to-cut-jobs-as-demand-wanes" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Home Appliance Maker Electrolux To Cut Jobs As Demand Wanes</a>
<ul>
<li>Swedish home appliance manufacturer&nbsp;Electrolux AB&nbsp;(OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/eluxy#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">ELUXY</a>) has initiated a cost reduction plan and North American turnaround program in the wake of a demand slump.</li>
<li>The proposed plan is expected to affect 3,500 &ndash; 4,000 positions.</li>
<li>The company said it would take a restructuring charge of SEK 1.2 billion - SEK 1.5 billion in the final three months of 2022.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/general/biotech/22/10/29454036/justice-department-launches-probe-into-poultry-companies-payment-practices-report" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Justice Department Launches Probe Into Poultry Companies&rsquo; Payment Practices</a>
<ul>
<li>The U.S. Justice Department has launched an investigation into the method of payments made to chicken farmers by poultry companies.</li>
<li>Pilgrim&rsquo;s Pride Corp&nbsp;(NASDAQ:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/ppc#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">PPC</a>) disclosed in a regulatory filing that it learned on October 6, 2022, that DOJ opened a civil investigation into grower contracts and payment practices.</li>
<li>PPC said it would cooperate with the DOJ in its investigations.</li>
<li>The Justice Department has notified other poultry companies as well.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/earnings/22/10/29456698/chevron-clocks-over-80-jump-in-quarterly-earnings" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Chevron Clocks Over 80% Jump In Quarterly Earnings</a>
<ul>
<li>Chevron Corp&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cvx#NYSE">CVX</a>) posted a Q3 net profit of $11.2 billion, up 84% Y/Y, with an adjusted EPS of $5.56, better than the consensus of $4.91 and $2.96 posted a year earlier.</li>
<li>Sales in Q3 were $66.64 billion, compared to $44.71 billion in the year-ago period, surpassing the consensus of $59.17 billion.</li>
<li>Net oil-equivalent production was 3.03 million barrels per day, almost unchanged from Q3 FY21.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/earnings/22/10/29457086/abbvie-reports-mixed-earnings-tightens-guidance-lifts-quarterly-dividend" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">AbbVie Reports Mixed Earnings, Tightens Guidance, Lifts Quarterly Dividend</a>
<ul>
<li>AbbVie Inc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/abbv#NYSE">ABBV</a>) reported Q3 adjusted EPS of $3.66, up 29.3% Y/Y and beating the consensus of $3.59.</li>
<li>Overall sales increased 3.3% Y/Y (5.4% on an operational basis) to $14.81 billion, missing the consensus of $14.96 billion.</li>
<li>AbbVie increased the quarterly dividend by 5% from $1.41 per share to $1.48 per share.</li>
</ul>

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Tesla's Autopilot Draws Regulatory Scrutiny, Volkswagen Expects Supply Crisis To Continue, TikTok To Launch Standalone Gaming Channel: Top Stories Friday, Oct. 28

<ul>
<li>Swedish home appliance manufacturer&nbsp;Electrolux AB&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/eluxy#OTC">ELUXY</a>)&nbsp;<a class="editor-rtfLink" href="https://www.electroluxgroup.com/en/electrolux-q3-2022-interim-report-weak-north-america-and-strength-in-emerging-markets-34615/" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">has initiated a cost reduction plan</a>&nbsp;and North American turnaround program in the wake of a demand slump.</li>
<li>The proposed plan is expected to affect 3,500 &ndash; 4,000 positions.</li>
<li>The company said it would take a restructuring charge of SEK 1.2 billion - SEK 1.5 billion in the final three months of 2022.</li>
<li>The cost reduction from the program includes and replaces the previously communicated benefits from the SEK 8 billion global re-engineering investments.</li>
<li>The cost reduction element will focus on three areas: eliminating cost inefficiencies in the supply chain, leveraging the organizational changes that took effect on July 1 this year, and optimizing R&amp;D and marketing investments.</li>
<li>Total savings from the program are estimated to be more than SEK 7 billion.</li>
<li>The company reported an operating loss in the third quarter of SEK (385) million.</li>
<li>Price Action:&nbsp;ELUXY shares closed higher by 1.98% at $23.74 on Thursday.</li>
</ul>

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