Audi, a subsidiary of Volkswagen AG, is developing new models on a China-specific "Advanced Digitized Platform" with SAIC. This collaboration will expand Audi's BEV portfolio in China, accelerating its transformation in the world's largest market. The first model is set to launch in 2025, reducing time-to-market by over 30%.
Nordstrom Inc (NYSE: JWN) reported a 3.5% drop in net sales for the nine-week holiday period ended December 31, 2022 and lowered its annual EPS guidance.
Nordstrom cut EPS guidance to a new range of $1.50-$1.70 from $2.30-$2.60.
Nordstrom shares gained 0.5% to trade at $17.53 on Friday.
The Nasdaq Composite jumped by around 250 points on Friday. Investors, meanwhile, focused on some notable insider trades.
When insiders purchase or sell shares, it indicates their confidence or concern around the company's prospects. Investors and traders interested in penny stocks can consider this a factor in their overall investment or trading decision.