Here are some of the companies the Yahoo Finance team will be watching today.
AB InBev (BUD) posted a rough quarter. The world's largest beer maker says a drop in beer shipments in China ate into its profits last quarter, and it's lowering its earnings forecast to only "moderate" growth. Just last month, AB InBev spun off its Asian business, raising some $5.8 billion.
Citigroup (C) has named Jane Fraser as its new president and head of global consumer banking. Fraser has been with Citi for 15 years in various roles, most recently as head of its Latin America unit. The appointment positions Fraser as a possible successor to CEO Michael Corbat, which would make her the first female CEO of a major US bank.
Layoffs are hitting another company backed by Softbank (SFTBY). Fair, the online car-leasing company, said it will cut about 40% of its workforce, which is about 300 people. The CEO said the layoffs are to push the company towards future profitability. This is in the wake of Softbank-backed Uber and WeWork facing increasing debt.
GM (GM) may be closer to signing a new contract with the United Auto Workers. Union staff at several GM factories have voted to back a proposed contract, a move that some are hoping will end the six-week nationwide strike. The contract offers members’ pay increases, no health care contribution changes, and signing bonuses.
Ford (F) is out with new details for its Mustang-inspired electric SUV — designed to take on Tesla. It will have an estimated range of 300 miles, but its design is still largely being kept under wraps. The full specs and price will be revealed ahead of next month's L-A auto show. Ford is hoping to sell 1 million electric vehicles by 2022.