Shell, WPP Plummets, Volkswagen Gains
On this episode of Stock Movers:
- Shell posted 3Q profit that beat analyst estimates, helped by a rebound in performance by its oil and gas traders even as weaker energy prices weighed on earnings.
- WPP shares hit their lowest level since 2008 after it cut its revenue growth guidance for the year. New CEO Cindy Rose said the company needs to simplify its offer to clients.
- Volkswagen shares rose after free cash flow and margin came in strong. The carmaker warned about shortages of Nexperia chips, but said it secured enough components for the coming week to keep its German plants running.
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