Mercedes-Benz Shares Drop 8% After Second Full-Year Guidance Cut Due to China Slowdown

Image source: Photo by Sam Warren on Unsplash

Mercedes-Benz Shares Drop 8% After Second Full-Year Guidance Cut Due to China Slowdown. 🚗 The company shares fell 8% after the carmaker cut its full-year guidance for the second time, citing a slowdown in sales driven by China's weakening economy. With one-third of its sales in China, the luxury automaker expects lower returns and reduced earnings, impacted by weaker consumption and competition in the Chinese market. MarketWatch reports.

🚀 LaunchLaw: SpaceX 'forcefully rejects' FAA allegation it violated launch requirements. Reuters reports.

🤖 AImazon: Amazon introduces Amelia, an AI assistant for third-party sellers. CNBC reports.

⚡ IntelBoost: Mobileye jumps after Intel says it won’t sell majority stake. Yahoo Finance reports.

📱 iPhoneBan: New iPhone 16 unveiled in Russia as retailers skirt Apple's export ban. Reuters reports.

🚨 StrikeAlert: UAW warns of potential strikes at Ford, Stellantis a year after unprecedented work stoppages. CNBC reports.

🌟 AIVision: Alibaba accelerates AI push by releasing new open-source models, text-to-video. Reuters reports.

(All pricing and percent gains are based on Early Pre-Market from 4:00 AM to 7:00 AM Eastern Time)
Benzinga reports.

1. $BNZI: Banzai International
Total gain: +145.48%

2. $BATL: Battalion Oil
Total gain: +119.04%

3. $LFLY: Leafly Holdings
Total gain: +82.12%

4. $SVMH: SRIVARU Holding
Total gain: +50.16%

5. $TNON: Tenon Medical
Total gain: +32.4%

Great Recession: What It Was and What Caused It

The Great Recession was the sharp decline in economic activity that started in 2007 and lasted several years, spilling into global economies. It is considered the most significant downturn since the Great Depression in the 1930s.

The term “Great Recession” applies to both the U.S. recession, officially lasting from December 2007 to June 2009, and the ensuing global recession in 2009. The economic slump began when the U.S. housing market went from boom to bust, and large amounts of mortgage-backed securities (MBS) and derivatives plummeted in value.

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The closing price of the top three market percent gainers trading near or above $3 on September 18.

*All pricing and percent gains are based on regular market trading hours from 9:30am to 4:00pm Eastern Time

1. $GSIW: Garden Stage
Total gain: +251.98%
The stock appeared to be moving on no notable news.

2. $ZEO: Zeo Energy
Total gain: +128.84%
The stock appeared to be moving on no notable news.

3. $TBIO: Telesis Bio
Total gain: +115.44%
The stock appeared to be moving on no notable news.

*Estimate and Actual numbers represent Earnings Per Share in US Dollars

VFS: VinFast Auto
2Q 2024
Before Market Open
Estimate: -0.210
Actual: N/A

Time (ET) / Report / Period

None schedule

“There’s no shame in losing money on a stock. Everybody does it. What is shameful is to hold on to a stock, or worse, to buy more of it, when the fundamentals are deteriorating.”

― Peter LynchSourced in:
“One up on Wall Street: How to use what you already know to make money in
the market”, by Peter Lynch, published in 1989