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PMAX News4 articles
Powell Industries Shares Slide on Record Backlog Execution Concerns
Powell Industries shares dropped 13.8% in after-hours trading as record backlog raises delivery concerns, despite Q3 revenue and EPS beating estimates.
Powell Industries Lands Record $400M Data Center Order, Backlog Hits $1.8B
Powell Industries' new orders nearly doubled to $490 million in fiscal Q2, driving backlog to a record $1.8 billion. The company also secured its largest-ever data center order of over $400 million after quarter-end.
Fed Holds Rates Steady as Powell's Future Clouds Rate Path
The Fed is expected to keep rates unchanged this week, but Powell's possible last meeting and rising inflation risks from oil prices create a cliffhanger for future rate decisions.
Dow Slumps on Inflation, Oil Surge Ahead of Powell Remarks
The Dow Jones Industrial Average dropped sharply Wednesday, pressured by a hotter-than-expected inflation report and a surge in oil prices. Traders now see the Federal Reserve's first rate cut delayed until April 2027.