Author: Press Room

Shares of GameStop Corp. Cl A GME rallied 1.34% to $20.49 Friday, on what proved to be an all-around favorable trading session for the stock market, with the S&P 500 Index SPX rising 0.09% to 4,133.52 and the Dow Jones Industrial Average DJIA rising 0.07% to 33,808.96. The stock’s rise snapped a five-day losing streak. GameStop Corp. Cl… Read the full article here

Customers at legal medical and adult-use cannabis dispensaries will now have the option to round up their purchases to the nearest dollar to help fund Mission Green Alliance, which is working to end federal cannabis prohibition and provide support to people affected by the war on drugs. Launched by the nonprofit Weldon Project, Mission Green Alliance will promote individual clemencies among the U.S. population of roughly 3,000 people who are currently incarcerated for federal cannabis convictions, most of them on low-level… Read the full article here

A council of U.S. financial regulators voted Friday to propose new rules that would overturn Trump-era regulations that eased oversight of nonbank companies that could pose a threat to financial stability. The Financial Stability Oversight Council, composed of the heads of top U.S. financial regulators and chaired by U.S. Treasury Secretary Janet Yellen, took the first step in issuing new guidance on how the group would decide which companies are systemically important to the U.S. economy and therefore subject to enhanced… Read the full article here

© Reuters. By Yasin Ebrahim Investing.com — The Dow closed lower Wednesday, as investors weighed mixed quarterly results including from streaming giant Netflix just as the earnings season heats up. The fell 0.23%, or 79 points, while the and ended flat. Netflix (NASDAQ:) fell more than 3% after reporting mixed first-quarter and guidance that fell short of expectations as the streaming giant delayed plans to broaden its crackdown on password sharing. Netflix delayed its plans to broaden its paid-sharing option, which requires users to pay a fee for sharing their subscriptions, to the second quarter from late Q1. “The password…

By Ambar Warrick Investing.com — Gold prices moved little on Friday, but stuck to key levels as a string of weak economic readings brewed concerns over slowing growth and fed into safe haven demand for the yellow metal. While gold prices were pressured by some strength in the this week, softer-than-expected manufacturing and employment readings weighed on the greenback in recent sessions, while also fueling fears of a potential recession this year. This benefited bullion prices, helping them stay above the key $2,000 level. But hawkish signals from the Federal Reserve and other central banks limited any major gains in…

SAO PAULO (Reuters) – Brazil’s Treasury Secretary Rogerio Ceron said on Wednesday that a new fiscal framework proposed by the government was designed to last for a long time, facing different economic and political cycles. “It is a sustainable path, unlike past solutions that had an expiration date,” Ceron said in an interview with GloboNews, adding the framework puts an end to doubts about whether government spending would get “out of control”. Ceron said that government simulations showed Brazil’s downward debt trajectory starting as soon as 2026 under the new framework, depending on monetary easing. In the most pessimistic scenario,…

NetApp Inc. a company, which provides on-premises data storage systems and public cloud services, has seen some headwinds of late amid weaker IT spending and cloud cost optimization by large businesses. Over Q3 FY’23, NetApp’s NTAP revenue declined by 5.4% to $1.53 billion, with adjusted earnings also falling by a similar magnitude. Although public cloud revenues rose by about 36% over the quarter, the hybrid cloud business saw revenues decline by about 9%. Things are expected to remain tough, with the company projecting sales of $1.475 billion to $1.625 billion for Q4, implying a decline of roughly 10% year-over-year at…

Walmart is selling online apparel brand Eloquii to FullBeauty Brands, marking the retailer’s third divestiture of a direct-to-consumer brand this year.The big-box retailer sold Bonobos to WHP Global and Express earlier this month and offloaded Moosejaw to Dick’s Sporting Goods in February. The sales are a reversal of a 2017-18 strategy led by Marc Lore, Walmart’s former head of e-commerce.The retailer bought Eloquii in 2018 for a reported $100 million, one of numerous digital apparel brands with niche and loyal consumer bases. The goal was to build out the retailer’s online assortment with higher-margin apparel and home merchandise. The acquisitions would…

In June 2021, Google won approval to build an 80-acre campus, spanning 7.3 million square feet of office space, in San Jose, California, the third-largest city in the country’s most populous state. The estimated economic impact: $19 billion.The timing couldn’t have been worse.related investing newsA decade-long bull market in technology had just about run its course, and the following year would mark the worst for tech stocks since the 2008 financial crisis. Rising interest rates and recessionary concerns led advertisers to reel in spending, shrinking Google’s growth and, for the first time in the company’s history, forcing management to implement…

Lyft (LYFT) plans to “significantly reduce” its workforce, the company’s new CEO David Risher told employees on Friday, in another round of layoffs as it struggles to turn a profit and pull off a turnaround. In a company-wide memo, Risher said the cuts were aimed at making Lyft a “faster, flatter company where everyone is closer to our riders and drivers.” “I own this decision, and understand that it comes at an enormous cost,” Risher continued. “We’re not just talking about team members; we’re talking about relationships with people who’ve worked (and played) together, sometimes for years.” The announcement follows…