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U.S. Wholesale Inventories Increase Less Than Expected In September

Wholesale inventories in the U.S. increased by less than expected in the month of September, according to a report released by the Commerce Department on Wednesday. The Commerce Department said wholesale inventories rose by 0.6 percent in September after surging by an upwardly revised 1.4 percent in August.

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Meta Cuts More Than 11,000 Jobs; Backs Q4 Revenue View

Facebook parent Meta Platforms decided to lay off more than 11,000 employees, representing about 13 percent of its global workforce, CEO Mark Zuckerberg said. The reductions are across both Family of Apps and Reality Labs segments. In a message to Meta employees, Zuckerberg said the company intends to become a leaner and more efficient company by cutting discretionary spending...

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Tredegar Q3 Profit Plunges

Industrial manufacturer Tredegar Corp. (TG) reported Wednesday that net income for the third-quarter plunged to $1.03 million or $0.03 per share from $6.20 million or $0.19 per share in the prior-year quarter.

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Bay Street Likely To Open With Negative Bias

Canadian shares are likely to open with a negative bias on Wednesday, weighed down by weak commodity prices and European stocks.

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Wendy's Q3 Adj. EPS Tops Estimates; Backs FY22 Profit Outlook

The Wendy's reported on Wednesday that profit for the third quarter increased 23 percent from last year, driven by higher operating profit and double-digit revenue growth. Adjusted earnings per share topped analysts' estimates by a penny, while quarterly revenues missed their estimates. The company also maintained its adjusted earnings guidance for the full-year 2022.

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Performance Food Group Boosts Q2, FY23 Net Sales Outlook As Q1 Results Top Estimates

Performance Food Group Co. (PFGC) reported Wednesday that net income for the first quarter soared to $95.7 million or $0.62 per from $4.70 million or $0.03 per share in the prior-year quarter.

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RBA's Bullock Says Rate Hikes, Cost Of Living Crisis To Bring Inflation Down

Reserve Bank of Australia Deputy Governor Michele Bullock said the interest rate hikes together with the cost of living pressures are set to weigh on consumption and cool demand, thus help to bring inflation back to the target. Although inflation forecasts were revised up a little, there are good reasons to believe that the peak of the inflation is approaching, Bullock said in Sydney on Wednesday

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Capri Holdings Backs FY22 EPS Outlook, But Trimmed Revenue Forecast

While reporting financial results for the second quarter on Wednesday, fashion luxury group Capri Holdings Ltd. (CPRI) maintains its earnings guidance for the full-year 2023, while trimming annual revenue outlook. The company also provided forecast for the third quarter.

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Elon Musk Sells $3.95 Bln Worth Tesla Shares

Tesla Inc. founder and Chief Executive Officer Elon Musk has sold at least $3.95 billion worth of his stake in the electric vehicle maker after completing his $44 billion acquisition of Twitter Inc., U.S. regulatory filings showed. In pre-market activity on Nasdaq, Tesla shares were gaining around 1.5 percent to trade at $194.22.

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