07-27-2018, 02:06 AM
After reporting second-quarter earnings, both GM and FCA stock took losses in the markets. The CFOs of both automakers addressed higher steel costs due to Trump's tariffs. GM and FCA cut full-year profit guidance. Outgoing General Motors CFO Chuck Stevens has been with company for four decades, but I'm not sure he's ever used the word "headwinds" as often as he did on a conference call following the carmaker's second-quarter earnings on Wednesday.
Trump tariffs become headache for auto industry - Business Insider
Coca-Cola Company on Wednesday said they will raise the price of their signature sodas this year in part because of the financial strain caused by President Trump's tariffs. Coca-Cola's Chief Executive James Quincey told the Wall Street Journal that they are stepping up prices in response to the rising costs of delivery and metal prices after the U.S. slapped $50 billion duties on Chinese products earlier this year.
Coca-Cola says it's raising soda prices after Trump tariffs | TheHill
Qualcomm (NASDAQ:QCOM) CEO Steve Mollenkopf tells CNBC the NXP deal “got caught up in a trade war.” Mollenkopf continues: “That being said, we thought it was important to bring certainty to the process, move on and really focus on the things that we said are going to drive value.” He doesn’t think the trade war is a risk to Qualcomm’s overall business in China.
Qualcomm CEO blames trade war for NXP deal failure - Qualcomm Inc. (NASDAQ:QCOM) | Seeking Alpha