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2022 is off to a rough start, but these businesses are doing far better than their stock prices are indicating.
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Tesla is one of dozens of hot stocks set to announce earnings results over the next few trading days.
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 Shares of PPG Industries Inc. fell nearly 3% in the extended session Thursday after the paint and coatings maker reported fourth-quarter profit and sales above Wall Street expectations but said pandemic-related "disruptions" continue to impact production and sales, and it will increase prices to mitigate soaring costs. PPG said it earned $267 million, or $1.12 a share, in the quarter, compared with $272 million, or $1.14 a share, in the year-ago period. Adjusted for one-time items, PPG earned $1.26 a share. Sales rose 12% to $4.2 billion. Analysts polled by FactSet expected adjusted EPS of $1.18 on sales of $4 billion. "Looking ahead, while demand for PPG products remains strong, the heightened supply and COVID-related disruptions experienced in the fourth quarter are expected to continue in the first quarter of the year impacting our ability to manufacture and deliver product," the company said in a statement. "We expect raw-material costs to remain at an elevated level and we are experiencing additional inflation in other cost areas, including logistics and labor." PPG said it will raise prices in all business lines "to mitigate the incremental inflation, and we continue to aggressively manage all aspects of our cost structure, including actions to minimize the cost impacts of the current supply challenges." Shares of PPG ended the regular trading day down 1.2%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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Google parent Alphabet Inc. on Thursday said it filed a final appeal of a $2.7 billion European Union antitrust fine to the EU's Court of Justice, its highest court. The latest appeal to overturn a 2017 fine linked to its shopping-ads service contends the General Court pushed beyond EU legal precedents and revised the reasoning of the underlying EU antitrust decision. "We feel there are areas that require legal clarification from the European Court of Justice," a Google spokeswoman said.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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The 10-year Treasury yield hit its highest level since early 2020 on Friday.
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