Author: Press Room
Stocks traded mixed Friday with Wall Street concerned that higher interest rates will curb economic growth in the coming months. These stocks were making moves Friday: Procter & Gamble (ticker: PG) rose 4.4% Friday after the consumer goods giant posted better-than-expected fiscal third-quarter earnings and raised its outlook. XPO (XPO) shares jumped 7.6% after the logistics provider was upgraded to Overweight from Neutral by analysts at J.P. Morgan, and raised to Buy from Neutral at Citi. On Thursday, the company named Dave Bates as chief operating officer of North American LTL. HCA Healthcare (HCA) stock jumped 5.1% after the hospital…
Meta Platforms Inc. Chief Executive Mark Zuckerberg reportedly said the embattled company may not be done with layoffs even as it goes through its latest round of 4,000 this week and braces for another batch in May. The parent company of Facebook and Instagram, which announced its intention to slash 21,000 jobs late last year, is also likely to dramatically slow down hiring, Zuckerberg told employees in a town hall on Thursday, according to a Wall Street Journal report. “I… Read the full article here
This is reprinted by permission from . Wondering just how savvy you could be with your bank accounts? Brush up on ways to boost your savings balance and get smarter about banking strategies. Here are five actions you can start today.1. Overcome account anxiety When was the last time you took a look at your bank… Read the full article here
The numbers: The U.S. leading economic index sank 1.2% in March and fell for the 12th month in a row, continuing to signal a recession later in 2023. The decline was the biggest in three years. Economists polled by the Wall Street Journal had forecast a 0.7% drop. The… Read the full article here
By Yasin Ebrahim and Senad Karaahmetovic Investing.com — Tesla (NASDAQ:) reported Wednesday first-quarter earnings that just missed Wall Street estimates as margins were hurt by price cuts. Tesla shares are down over 7% in premarket Thursday following the news. Tesla earnings per share of 85 cents on revenue of $23.30 billion. Analysts polled by Investing.com anticipated EPS of 0.86 cents on revenue of $23.78B. Gross margins, which have been closely watched after Tesla cut the prices of its EVs several times, fell to 19.3% from 29.1% in the same period last year, missing estimates of 21%. Tesla cut prices worldwide on its EVs including…
By Rowena Edwards LONDON (Reuters) – Oil prices were on track for a weekly loss, despite a rise on Friday on strong economic data in the euro zone and Britain, as economic and interest rate uncertainty weighed. futures for June delivery rose 70 cents, or 0.86%, to $81.80 a barrel by 1343 GMT. West Texas Intermediate crude (WTI) for June delivery was up 74 cents, or 0.96%, at $78.11. Both benchmarks had slid by more than 2% on Thursday – to their lowest since the unexpected announcement in early April of production cuts by some OPEC countries – and remain…
(Reuters) -Costs in Russia’s manufacturing sector rose for the second month running in March, data from the state statistics service Rosstat showed on Wednesday, driven by a sharp jump in the cost of mining, extraction and some petroleum product production. The producer prices index (PPI), a measure of costs in the manufacturing sector, increased 0.9% in March. In February, the index rose for the first time month-on-month since April 2022. On an annual basis, the PPI fell 10.7% in March, Rosstat said. In the same month last year, the index had risen 26.9% year on year. Prices for ores and…
Week in Review Real evidence of China’s recovery and “revenge spending” came to the fore this week with the release of first quarter GDP growth at 4.5% year-over-year (YoY), exceeding expectations, and March retail sales growth at 10.6% YoY. The STAR Board saw some momentum this week on positive earnings releases from technology companies in Mainland China, though gains were clipped on Friday. Nonetheless, the technology-focused STAR 50 Index is up +16% year-to-date. In a speech at Johns Hopkins University on Thursday, Janet Yellen said that the US should seek a positive economic relationship with China, cooperating on issues such…
Topline Stock picker Cathie Wood’s Ark Invest bought Tesla’s dip in a big way on Thursday, boldly forecasting the electric vehicle company will surge to a more than $6 trillion valuation over the next four years on the same day its stock tanked 10%. Key Facts Wood’s firm disclosed it bought 219,810 shares of Tesla in its flagship Ark Innovation ETF and another 36,213 shares of Tesla in its Next Generation Internet ETF. That’s a roughly $41.7 million buy-up, using Tesla’s $163 closing price Thursday, when the stock slid 9.8% and the company lost $51 billion in market value as…
Nearly one-third of the Club’s 35-stock portfolio has hiked its dividend so far this year, underlining confidence in the businesses and bolstering the total return prospects for shareholders like us. Johnson & Johnson (JNJ) and Costco Wholesale (COST) became the latest Club holdings to hike their payouts this week, bringing the year-to-date total to 11. On average, those 11 companies have increased their dividends by a healthy 10.4% this year on prior quarterly payouts. The biggest increase of 2023 came from oilfield services firm Halliburton (HAL), which in January raised its dividend by a third, to 16 cents per share.…
