Rent-A-Center Inc: “It’s just a terrible quarter. The price is $ 27 [a share]. I would still sell it. I wish I could be more positive, but it was a very bad quarter. “
NIO Inc: “I do not recommend any Chinese stocks. I think the market situation is too dangerous and difficult to do.”
B Riley Financial Inc: “I’ve done a little work with them and I have to tell you it’s like any other broker. It’s just huge. And you can choose your broker, they are all huge and no one seems to want them. “
Alto Ingredients Inc: “I don’t know them. They are obviously very interesting after what we just saw with [Renewable Energy Group Inc]. I have to look at everything that has been done, using any biography. “
Stem Inc: “This is a very good company. Many people think that it just turned out to be in the commodity business … I think it’s better than that, but I fully understand, no one wants SPAC. “
Origin Materials Inc: “This is a speculative action … Renewable Energy was profitable and did a lot of great things. This is not the case with this particular action.”
Academy Sports and Outdoors Inc: “It’s not just a bad market, it’s a horrible market. I’m not going to tell you that stocks are sold at four times the profit. It doesn’t make any sense.”
Kramer’s Lightning: Rent-A-Center is for sale Read More »
Dow Jones futures rose modestly overnight, along with S&P 500 and Nasdaq futures, with President Joe Biden and Federal Reserve Chief Jerome Powell. The attempted stock market rally suffered heavy losses on Tuesday as crude oil prices skyrocketed and government bond yields fell amid signs that Russia’s invasion of Ukraine could become much bloodier for civilians in Kiev. Major indexes hit resistance only after the rapidly falling 21-day exponential moving average, one of several potential areas of resistance to an attempted market rally. Tesla shares turned lower after briefly surpassing their 21-day high on Tuesday. Apple (AAPL) and Nvidia shares were denied near their 21-day lines. Microsoft (MSFT), which just closed above its 21-day and 200-day lines on Monday, fell on Tuesday. Russia’s progress toward Kiev has stalled, according to U.S. military officials amid stiff Ukrainian resistance and logistical challenges. But the Russian Defense Ministry warned on Tuesday that it planned to strike Ukrainian intelligence and communications facilities in central Kiev, warning residents in the area to leave. Western officials say this is a sign that Russia’s massive strikes on Kiev’s residential areas are inevitable. President Biden will deliver his State of the Union address to Congress and the country on Tuesday night. Biden will discuss the invasion of Ukraine, saying Russian President Vladimir Putin has underestimated the resolve of the United States and Europe. He is expected to announce that the US will ban Russian aircraft from their airspace, following the European Union, the UK and Canada. He will also push for the revival of at least parts of the legislation to build better, proposing green energy plans as ways to reduce dependence on Russian energy. Republicans say Biden should push for more domestic production of crude oil and natural gas.
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Fed Chief Powell will testify before Congress at 10 a.m. ET on Wednesday. Powell is likely to signal that the Fed’s interest rate hike will begin at the March 15-16 policy meeting, but will emphasize flexibility. Russia’s invasion of Ukraine and subsequent sanctions have pushed up crude oil prices, as well as big gains for base metals and cereals. All this threatens to further boost inflation, while exacerbating supply chain problems and slowing economic growth. Meanwhile, labour force participation may increase with Covid’s cases and restrictions rapidly decreasing, easing supply chain concerns and wage inflation. Given all these big, uncertain cross-currents, Fed boss Powell will want to be nimble and ready to change course – and make sure financial markets know that. Markets, whose prices were almost fully calculated when the Fed raised interest rates by half a point a few weeks ago, still expect a quarter-point increase at the March meeting. But now there is little to modest chance of a Fed change at the March meeting. Ahead of the Fed’s next meeting, policymakers and investors will receive the February employment report on Friday and the February consumer price index on March 10.
The Dow Jones Salesforce.com (CRM) reported better-than-expected gains late on Tuesday. CRM shares rose modestly overnight, signaling a return over the 21-day line, but fell below their rapidly falling 50-day average. Salesforce shares fell 0.8 percent to 208.89 on Tuesday. Dollar Tree (DLTR) earnings were reported early on Wednesday, with DLTR shares flirting with buying signals over the past few weeks. The line of relative strength is now at a new peak, while Dollar Tree shares are based, a bullish signal. Investors may want to use 144.56 as an entry point, just above the highest since January 6. DLTR’s official share purchase point was 149.47. Tesla (TSLA), Microsoft and Nvidia (NVDA) are in the IBD Leaderboard. MSFT shares are on IBD’s long-term leaders list. The video, embedded in this article, discusses market action on Tuesday and analyzes Northern Oil and Gas (NOG), Louisiana-Pacific (LPX) and DLTR shares.
Dow Jones futures were up 0.45 percent against fair value. S&P 500 futures rose 0.4 percent and Nasdaq 100 futures rose 0.3 percent. CRM shares listed on the NYSE offer a boost to Dow and S&P 500 futures. U.S. crude was trading at $106 a barrel late on Tuesday after the American Petroleum Institute reported a sharp drop in domestic crude oil supplies, with gasoline inventories also declining. The Energy Information Administration will release official U.S. oil inventories, production and demand wednesday morning. Remember that overnight action in Dow futures and elsewhere does not necessarily translate into actual trading in the next regular session of the stock market.
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The stock market rally opened lower, briefly improved, but then sold out. The Dow Jones industrial average fell 1.8 percent in stock market trading on Tuesday. The S&P 500 index sank 1.55 percent. The Nasdaq composite index retreated 1.6 percent. The Russell 2000 with a small capitalization fell 2%. The yield on 10-year government bonds fell 13 basis points to 1.71%, now erasing almost all of its gains for 2022. Crude oil prices exploded 8 percent to $103.41 per barrel, even as the U.S. and other countries announced a significant but ultimately modest release of strategic oil reserves. An OPEC+ meeting – with Russia making most of that “plus” – takes place on Wednesday, with the group expected to continue to modestly increase production quotas, withdrawing pandemic-era cuts. Gold futures rose 2.3 percent to a 13-month high. Energy stocks rose as crude oil prices rose. Defense contractors continued to walk vertically, while gold, steel and mining games did relatively well. Finance and travel were big losers.
Among the top ETFs, the Innovator IBD 50 ETF (FFTY) retreated 1.5%, while the Innovator IBD Breakout Opportunities ETF (BOUT) fell 0.7%. The iShares Expanded Tech-Software Sector ETF (IGV) retreated 0.9%, with the main components of Microsoft and CRM being shares. VanEck Vectors Semiconductor ETF (SMH) fell 3.15%. Nvidia’s shares are a major SMH holding. SPDR S&P Metals & Mining ETF (XME) нарасна с 2,5%, а Global X US Infrastructure Development ETF (PAVE) отстъпи с 1,9%. US Global Jets ETF (JETS) падна с 5,1%. SPDR S&P Homebuilders ETF (XHB) се оттегли с 1,3%. Energy Select SPDR ETF (XLE) напредна с 1%, а Financial Select SPDR ETF (XLF) спадна с 3,7%. Фондът SPDR за избран сектор на здравеопазването (XLV) се понижи с 0,55% Reflecting more speculative shares, ark innovation ETF (ARKK) retreated 3.1% and ark genomics ETF (ARKG) 1.7%. As elsewhere, these ETFs hit resistance near their 21-day lines. Tesla shares remain number one in ARK Invest’s ETFs.
Five best Chinese stocks to watch now
Like the market rally, several megacapas are hitting resistance on their 21-day lines. Apple shares didn’t quite get to their 21-day high, but turned around their 10-day average, falling just over 1% to 163.38. Over the 21-day line is the 50-day line. Clearing AAPL shares at this key level may offer early entry. But the official double-bottom purchase point is 176.75. Apple’s RS line for stocks is not far from the highs. Microsoft shares fell 1.15% to 295.34, back below their 21-day and 200-day lines. A move over Tuesday’s top of 299.97 could offer an aggressive entry as a long-term leader. But the 50-day moving average and february’s peak of 315.12 are also key hurdles. MSFT’s official share purchase point was 349.77. Nvidia shares fell 3.75% to 234.70, testing their 200-day line again after reaching their 21-day high on Monday. Rising above the 50-day line and february’s peak of 269.25 is probably necessary to offer an aggressive entrance. Reaching the peak of NVDA’s stock of 346.47 is a long way off. Tesla shares climbed as much as 889.88 on Tuesday morning, exceeding their 21-day period before retreating 0.75 percent to 863.93. The electric car giant holds on much better than other car stocks or highly valued growth names. TSLA resumed its 200-day line on Monday after recovering from a 700-day low of 2022 last week. Rising above the february 9 high of 946.27 and the 50-day line can offer an aggressive entrance. The official point of purchase is 1208.10.
The attempted stock market rally faced resistance, with the Nasdaq and Russell 2000 interrupting a three-day winning streak. They still hold most of their recent gains. A pause here is not so disturbing. The Dow Jones and S&P 500 have given up a little more than their recent bounces, but their attempts at a rally are intact. The market remains headlined. As an investor, you don’t have to follow the headlines obsessively, but you need to be aware that news can have a big impact on the market and the sector. That’s especially true now. Many of the assumptions embedded in the markets are changing. Inflation is at a 40-year high and Europe is aggressively changing decades of defence policies overnight. Of course, this does not mean that the stock market will go in the seemingly obvious direction – the huge stock market rally in 2020 against the background of the pandemic and the collapse of the economy proves this. A subsequent day can still happen at any time to confirm the new market rally. The confirmed upward trend is not guaranteed to work, as the recent market sell-off showed, but this is a positive signal. Beyond the 21-day moving average, major indexes face resistance at their February highs, as well as their 50-day and 200-day moving averages, with their all-time highs well above that. So the next confirmed stock market rally will face many technical hurdles in addition to the main risks.
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Moving the market sideways – with or without FTD – would not be a terrible thing. More stocks are forming bases now. MarketSmith already has a large number of blue dot stocks – shares based or drilling with RS lines that are already at peaks. A few more weeks can generate a new crop of consolidations, while some hot stocks may offer new chances to buy or add shares.
Market time with IBD’s ETF market strategy
The market remains in limbo. An attempted rally hit resistance, but it’s still intact. But there is no real reason for increasing exposure. While there are reasons to maintain participation in hot groups and sectors such as energy, defence, fertilizer and steel, many of the leaders have already been extended. Given the extreme volatility, investors may want to take partial gains in some recent gains. Keep building these watch lists. The number of shares incorporated in RS-line bases at new highs is increasing. So potential leadership is growing. Read the Big Picture every day to stay in sync with the direction of the market and leading stocks and sectors. Please follow Ed Carson on Twitter at @IBD_ECarson for stock market updates and more. YOU MAY ALSO LIKE: Best stocks for buy-to-let growth the 200-day average: the last line of support? Tesla vs BYD: Which thriving EV giant is better to buy? See IBD stock lists and get sustained/unsuccessful ratings for all your IBD Digital shares .
Russia’s invasion of Ukraine has sparked demand for cryptocurrencies in both countries, which has helped raise the price of bitcoin.
Bitcoin is trading higher against the Ukrainian hryvnia on a number of exchanges, both globally and locally, a sign of high demand. At Binance, the world’s largest stock exchange, bitcoin traded for the equivalent of $ 46,646 in bracelets. On the kuna, the largest stock exchange in Ukraine, it was $ 46,614 and traded up to $ 51,240.
Bitcoin was recently traded at $ 44,178 in US markets, up 16 percent from Monday morning, according to CoinDesk.
Binance has seen a surge in bitcoin trade in exchange for rubles since just before the Russian invasion. Between February 20 and 28, about 1,792 bitcoins swapped hands in the ruble / bitcoin pair, up from just 522 in the nine days before, according to Binance.
Western sanctions have effectively cut Russia off from the global financial network, and Ukraine has imposed tight capital controls.
Crypto is popular in Ukraine and Russia. Ukraine ranked fourth in the global adoption index created by the analytical firm Chainalysis. A report by the Russian government estimates that there are more than 12 million cryptocurrency portfolios held by Russian citizens for about 2 trillion rubles, or about $ 20 billion.
“The situation in Ukraine has exposed the value of bitcoin as an alternative money network,” said Timo Lehes, co-founder of the Swarm Markets trading platform.
The reversal of bitcoin-specific demand is a break from its recent model of trading on risky assets such as technology stocks.
The Bitcoin rally this week erased the losses for February. Most other cryptocurrencies were also higher. The ether increased by 4.7%. XRP increased by 0.7%. Avalanche rose 3.3 percent and Cardano rose 0.9 percent.
On Tuesday, the Nasdaq Composite Technology Index fell 1.2%.
Because bitcoin trades 24 hours a day, in some cases it runs risky assets, not just follows.
The Russians are queuing up to use ATMs as ordinary citizens begin to feel the impact of Western allies’ sanctions on the country following Moscow’s invasion of Ukraine. Meanwhile, the Moscow Stock Exchange remained closed on Tuesday. Photo: AP Photo / Dmitry Lovetsky
Last Wednesday, when Russian President Vladimir Putin announced his invasion of Ukraine, US stock markets were closed. Bitcoin fell about 6% overnight, then rose 13%. On Thursday, US stocks closed slightly higher after a day of hectic trading.
Bitcoin fell by almost 9% from the afternoon of Friday, February 18, to the evening of Monday, February 21, amid news of the deteriorating crisis in Ukraine. US stock markets, closed on Monday due to a holiday, did not have the opportunity to respond to the news until Tuesday. When they did, all major indices lost more than 1%.
Attention has also been drawn to cryptocurrencies for their potential as a way out for Russians trying to circumvent sanctions. While the cryptocurrencies themselves were not part of the sanctions, the White House is considering adding them.
On Twitter on Sunday morning, Mikhail Fedorov, Ukraine’s deputy prime minister, called for cryptocurrency exchanges to block Russian accounts. “It is crucial to freeze not only the addresses of Russian and Belarusian politicians, but also to sabotage ordinary consumers.
Mr Fedorov of Ukraine did not specify whether the request was personal or on behalf of the government. An attempt to contact him was unsuccessful.
What could be the effect of blocking Russians from crypto exchanges? Join the conversation below.
Crypto exchanges have largely opposed the introduction of any voluntary restrictions in Russia.
Binance said it would not make a total ban, but that it was taking action against Western sanctions. Exchange Coinbase, Kraken and KuCoin also said they would not freeze Russian accounts without sanctions or legal requirements.
“We are trying our best to protect human rights and asset security,” said KuCoin CEO Johnny Liu. “Actions that increase tensions to infringe on the rights of innocent people should not be encouraged.”
Crypto exchanges regularly execute court orders and legal requests for data about their users, as well as regulated banks. There was no hint that the Ukrainian government, alone or in concert, would take legal steps to demand the blocking of Russian consumers.
Technically, exchanges have improved their infrastructure over the past few years and could apply these sanctions if necessary, said Jack MacDonald, CEO of PolySign, which produces software to store crypto assets for exchanges and other trustees.
Binance, led by CEO Changpen Zhao, saw a jump in bitcoin trading in exchange for rubles.
photo: DARIN ZAMIT LUPE / Reuters
Stock exchanges have the ability to monitor accounts and transactions and even know where deposits come from. Funds from known hacks, for example, can and are blacklisted.
“It will be difficult for Russia to avoid sanctions using bitcoin,” Mr MacDonald said.
However, blocked users will still be able to find unregulated exchanges or even more non-transparent markets for buying and selling their cryptocurrencies.
Some of the Western sanctions included disrupting Russia’s Swift network, a banking consortium that processes millions of daily payment instructions.
Western sanctions and restrictions “strengthen the argument for blockchain products that will compete with the SWIFT network,” said Oanda analyst Edward Moya.
Investors are buying now, he said, in anticipation of an investment wave based on the construction of these products.
Write to Paul Vinya at [email protected]
Copyright © 2022 Dow Jones & Company, Inc. All rights reserved. 87990cbe856818d5eddac44c7b1cdeb8
Demand for bitcoin is growing in Ukraine and Russia Read More »
Exxon Mobil Corp logo seen at the Rio Oil and Gas Exhibition and Conference in Rio de Janeiro, Brazil, September 24, 2018. REUTERS / Sergio Moraes
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Houston, March 1 – Exxon Mobil (XOM.N) will leave operations in Russia, including oil fields, it said on Tuesday, becoming the last major Western energy company to leave the oil-rich country after Moscow’s invasion of Ukraine. .
The decision involves operations on a major oil and gas project on Sakhalin Island in Russia’s Far East. Britain’s BP PLC, Shell and Norway’s Equinor ASA (EQNR.OL) have previously revealed plans to abandon operations in Russia.
“Given the current situation, Exxon Mobil will not invest in new developments in Russia,” the company said in a statement.
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Exxon did not provide a release schedule or comment on possible asset write-offs.
The company condemned Russia’s attack and said it supported the people of Ukraine.
“We deplore Russia’s military action, which violates Ukraine’s territorial integrity and threatens its people,” Exxon said.
Exxon has begun removing US nationals from Russia, Reuters reported earlier, based on two people familiar with the matter.
Last year, Exxon hired more than 1,000 people across Russia with offices in Moscow, St. Petersburg, Ekaterinburg and South Sakhalin, according to its website.
The number of evacuees evacuated was unclear on Tuesday. The company sent a plane to Sakhalin Island to pick up staff, said a source familiar with the matter.
Exxon manages three large offshore oil and gas fields with operations based on Sakhalin Island on behalf of an international consortium of Japanese, Indian and Russian companies. He was developing plans to add a liquefied natural gas export terminal to the site.
“Exxon’s Russian business is relatively small in the context of its larger company, so it doesn’t matter as much to BP or TotalEnergies if it has to abandon its Russian assets,” said Anish Kapadia, director of energy and mining researcher. case of Pallissy Advisors.
The company, which has been developing its Russian oil and gas fields since 1995, has come under pressure to sever ties with Russia over Moscow’s invasion of Ukraine. Russia calls its actions in Ukraine a “special operation.”
Sakhalin’s facilities, which Exxon has operated since its inception in 2005, are one of the largest single direct investments in Russia, according to a description of the project on Exxon’s website. The operation pumped up to 300,000 barrels of oil and gas a day.
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Report by Gary McWilliams; Edited by Jonathan Oatis, Grant McCool and Kenneth Maxwell
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Exxon leaves Russia, stops additional investments Read More »
AMC Entertainment Holdings Inc. reported lower losses for the fourth quarter late Tuesday, saying it was no longer rocking thanks to the “military chest” with memes it accumulated in 2021.
AMC AMC, -2.86% said it lost $ 134.4 million, or 26 cents a share, in the quarter, compared with a loss of $ 946.1 million, or $ 6.21 a share, in the previous quarter. Adjusted for disposable items, AMC lost 11 cents a share.
Revenue jumped to $ 1.172 billion from $ 162.5 million a year ago.
Analysts polled by FactSet expected the company to report a loss of 23 cents per share on sales of 1.09 billion dollars.
The AMC said last month that it expects revenue of $ 1.172 billion and expects quarterly losses to range from $ 194.8 million to $ 114.8 million.
“Our positive recovery from the global pandemic continued seriously in the fourth quarter,” CEO Adam Aron said in a statement Tuesday. “Although it is not yet where we want to be, our progress is significant and unmistakable.”
Aron said the company had a “cash war box” provided by its shareholders last year, and that “AMC is no longer on its heels.”
AMC was one of the most notable memes of the year last year, one of the most targeted consumer names, receiving incentives from retail investors who gathered at popular social media forums.
The AMC said it ended the year with available liquidity and cash and cash equivalents of about $ 1.8 billion and $ 1.59 billion. Shares of AMC rose less than 2% in the extended session on Tuesday after the end of the regular trading day by 2.9%.
Investors need to be “disciplined” and buy selectively when stock prices fall, CNBC’s Jim Kramer said on Tuesday.
“Remember when we said that if stocks fall a lot, they can be interesting and that a combination of redemption, dividends and excellent profits can overcome the chaos … In fact, I think the money can come back,” said the host. of “Crazy Money”.
“Take some money and let it run slowly, disciplined, on the way down … then you will catch the proverbial bottom,” he added, acknowledging that it is unclear when the market will actually reach the bottom.
Kramer’s comments came after US stocks fell on Tuesday as Russia’s invasion of Ukraine and rampant inflation continue to shake Wall Street. The Dow Jones Industrial Average fell about 1.76%, or nearly 600 points. The S&P 500 was down 1.55% and the Nasdaq Composite was down 1.59%.
As the market rose in recent weeks, which Kramer had previously attributed to a stable US economy and investor sentiment over economic sanctions against Russia, the host warned against false optimism about the recent market recovery.
“You are a fool to think that the stock market is only now getting worse and can only get worse,” he said. “It’s been going down since November thanks to this endless sale, but you know what, maybe we’re a lot closer to the bottom than the top,” he added.
Kramer says he must selectively buy stocks while the market finds a bottom Read More »
Kirkland & Ellis consistently leads to the highest revenue in all of Biglaw. Given this – and especially against the backdrop of a glowing white side market – the company would almost certainly meet the highest levels of compensation recently announced by Cravath.
Of course, they had already announced promotions less than a week ago, but when there is a new compensation network that makes the rounds, well, you have to raise money to keep your employees happy.
So here’s Kirkland’s new Compensation Network:
As you can see from the graph, contributors receive a full match from the Cravath scale retrospectively by January 1st. And while the company maintains its commitment to paying at the top of the market for its non-shareholders, tipsters are annoyed by the retroactive date for the NSP:
However, if you are not a partner without sharing, they only send a separate note and pay by February 1 (not January 1), which actually reduces you over $ 4,000 for the month of January. I will be glad to see this accurately reported, so they have some responsibility for the NSP short circuit.
You can read the full note on the next page.
*** Wondering if the grass is greener on the inside? Click here to view the corporate advisor’s black box in our 2021 Internal Compensation Report ***
Remember everyone, we rely on your advice to keep up with important bonus updates, so when your company matches, please send us an SMS (646-820-8477) or email us (subject: “[Firm Name] Coincidences ”). Please include the note, if available. You can take a photo of the note and send it via text or email if you do not want to forward the original PDF or Word file.
And if you want to sign up for the ATL bonuses (which is the list of alerts we also use for payroll announcements), please scroll down and enter your email address in the box below this post. If you have previously signed up for bonus alerts, you do not need to do anything. You will receive an email notification within minutes of each bonus message we post. Thanks for all your help!
Catherine Rubino is a senior editor at Above the Law, host of The Jabot podcast and co-host of Thinking Like A Lawyer. AtL tipsters are the best, so please contact her. Feel free to email her with any tips, questions or comments and follow her on Twitter (@ Kathryn1).
The Biglaw company with the most revenue is making another round of promotions Read More »
A worker installs First Solar Inc. photovoltaic solar panels. at the Agua Caliente solar project in Yuma County, Arizona.
Joshua Lot Bloomberg | Getty Images
Shares of First Solar fell more than 16 percent during extended trading on Tuesday after the company reported missing earnings expectations in the fourth quarter and issued weak guidelines for the full year.
The solar panel manufacturer is facing rising costs for raw materials and bottlenecks in the supply chain.
Here’s how the company did in its fourth quarter results compared to Refinitiv’s estimates:
EPS: $ 1.23 per share compared to the expected $ 1.06
Revenue: $ 907 million versus $ 918 million
First-year management of First Solar also did not meet Wall Street’s expectations. The company expects revenue of between $ 2.4 billion and $ 2.6 billion, while Wall Street is pushing for $ 2.76 billion.
The company expects earnings per share to be between profitability and 60 cents for the full year, well below the $ 1.92 analysts had expected.
Solar’s first CEO Mark Widmar said the solar industry was facing a year of “supply chain, logistics, cost and pandemic challenges”.
The company also announced that it is at an advanced stage of discussions for the sale of its platform for development and operation and maintenance in Japan.
Looking ahead, Widmar said 2022 would be a “major year” with “significant investments” in production expansion, new producers, research and development and new negotiation strategies.
But during a conference call after the company’s quarterly update, management acknowledged that 2022 is expected to be a challenging year in terms of profits, especially due to increased transportation costs. Prices for agreed volumes have risen between 200% and 300% above pre-pandemic levels, First Solar said. In 2022, the company expects the agreed freight rates to jump by 100% on an annual basis.
Along with increased costs, transit times have also increased, while “reliability and availability have deteriorated significantly, pushing more volume into the higher-priced spot market”.
The company also pointed to rising raw material costs, including a 40% jump in steel prices in 2021.
This story is evolving, please check again for updates.
