Author: Press Room

As the broader stock market has been on a tear for about a month, things are looking grim for investors with big short positions in stocks like AMC Entertainment Holdings Inc. and GameStop Inc., and one analyst has listed the “most squeezable” of those stocks. With that in mind, Ihor Dusaniwsky, head of predictive analytics at financial technology and analytics firm S3 Partners, compiled a list of those most vulnerable stocks, headed by such names as AMC AMC, -6.23%, GameStop Inc. GME, -0.40%, Coinbase Global Inc. COIN, +1.39% and CarMax Inc. KMX, +0.65%. Over the past month, the Dow Jones…

Cutera Inc. CUTR, +4.42%, a maker of devices used for skincare and body-sculpting, on Thursday said it would hold a special shareholder meeting on June 9 to weigh whether to remove five directors — the latest in the drama over the company’s CEO succession plans. The proposals on those removals, following concerns the directors were acting too slowly on those plans, were offered by two higher-ups that the company fired on Wednesday — executive chair Daniel Plants and chief executive David Mowry. Their dismissals came amid allegations from Cutera’s management that the two waged “an apparent campaign to seize control of the…

April is National Financial Literacy Month. To mark the occasion, MarketWatch will publish a series of “Financial Fitness” articles to help readers improve their fiscal health, and offer advice on how to save, invest and spend their money wisely. Read more here.Millions of Americans file taxes every year in a process that might fill more than a few people with anxiety and confusion.Part of the stress could be related to people’s lack of familiarity with how tax rules work. That’s no blame, considering the arcane twists and turns of an intricate tax code that changes with new laws, and has…

France’s level of inflation eased less than first anticipated in March, as soaring food prices offset cooling energy prices. The country’s consumer price index was revised upward to 5.7% in the month, from a preliminary figure of 5.6%, data from the country’s statistics office Insee showed Friday. However, the figure remains the lowest level of inflation in six months, declining from 6.3% registered in February, as energy prices decelerated markedly compared with a year earlier, which came shortly after Russia’s invasion of Ukraine. Food prices continued to drive inflation, jumping an upwardly revised 15.9%, compared with 14.8% in February. France’s…

© Reuters. FILE PHOTO: Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., March 16, 2023. REUTERS/Brendan McDermid By Caroline Valetkevitch NEW YORK (Reuters) – As quarterly U.S. earnings got under way with upbeat reports from JPMorgan Chase & Co (NYSE:) and other major banks Friday, analysts marginally brightened their dim outlook for first-quarter U.S. results compared with a week ago. Based on actual results from 30 of the companies and estimates for the rest, analysts now expect earnings for the S&P 500 in aggregate to have declined 4.8% in the first…

By Tom Polansek CHICAGO (Reuters) -The U.S. government is testing four potential bird flu vaccines for poultry, officials said on Friday, after more than 58 million chickens, turkeys and other birds have died in the nation’s worst outbreak ever. The trials, conducted by the U.S. Department of Agriculture’s (USDA) Agricultural Research Service, are the first step in a lengthy process toward the possible first use of vaccines to protect U.S. poultry from the lethal virus. Bird flu, also known as highly pathogenic avian influenza (HPAI), has killed hundreds of millions of birds around the world, raising interest in vaccines. The…

By Hannah Lang, Chris Prentice and Ann Saphir (Reuters) – The Federal Reserve’s Board of Governors on Friday said it has approved UBS Group AG (SIX:)’s acquisition of the U.S. subsidiaries of Credit Suisse, clearing another major hurdle for the completion of the Swiss-brokered rescue deal.     UBS has committed to give the U.S. central bank an implementation plan for combining its U.S. business and operations with those of Credit Suisse within three months of consummating the deal, the Fed’s Board said in a statement. The plan will include more stringent requirements including liquidity standards for the bank, due to…

Key Takeaways Banks Stocks Beat On Earnings Data Shows Inflation Is Slowing Earnings Reports Pick Up Steam Next Week Investors have received some welcome news this week both with respect to inflation and now this morning, big banks. After a gain of over 1% on Thursday in the S&P 500 and a 2% gain in the Nasdaq Composite, we’ll see if stocks can finish the week strong. Then next week, we’ll start getting a look at first quarter earnings from some bigger names in tech, like Netflix NFLX and Tesla TSLA . JP Morgan, Wells Fargo WFC , PNC Bank…

Former Home Depot CEO Bob Nardelli issued a grim warning over the U.S.’s “very complex” economy, cautioning consumers that middle market companies are under “tremendous pressure.” “I think we’re going to see a lot of bankruptcies. Like Bed, Bath and Beyond. We got Walmart not only laying people off, but closing stores. We got Accenture laying people off. We got Amazon closing distribution centers. So I think there’s a tremendous-mixed message,” Nardelli said during an appearance on “Cavuto: Coast to Coast.”WALMART CLOSING THREE TECH HUBS, ASKING EMPLOYEES TO RELOCATE The former CEO continued, saying that the “complexity” of the U.S.…

Larry Fink, chairman and CEO of BlackRock, believes the U.S. could skirt a major economic downturn this year, but inflation is going to be around for a while.”No I don’t see a big recession,” Fink said on CNBC’s “Squawk on the Street” Friday. “I’m not sure we’re going to have a recession in 2023, we may have it in early 24.”The head of the world’s largest asset manager said the chance of a recession is dependent on the Federal Reserve’s battle against inflation. The central bank has raised its benchmark interest rate nine times for a total of 4.75 percentage points,…