Author: Press Room
With a total market capitalization of $5.8 billion and rapid growth in revenue, Lithia Motors is targeting an ambitious five-year plan to become the number one retailer of new automotive vehicles in the United States. Its stock may be undervalued by a fundamental analysis of some of its multiples, but the technical signals are a Strong Sell indicator for LAD at this time. Revenue Data by YCharts Lithia Motors revenue grew steadily from 2009 until the Covid pandemic but fell short of the 45 degree curve up the chart that I’d like to see for healthy sales growth. Then in…
Fanatics, the US merchandiser known for its American football jerseys, has outlined ambitions to sell more European soccer kit, highlighting growing American interest in the world’s most popular sport.“Soccer should be our number one business,” Michael Rubin, the billionaire chief executive of the sports retailer told the Financial Times. “We’re playing catchup.”Fanatics’ partners include the National Football League, Major League Baseball, the National Basketball Association and Nike, allowing the Florida-based group to manufacture and sell jerseys and other merchandise. The company, which expects to generate $8bn of revenue this year, already works with some of Europe’s leading clubs, including Paris…
There’s a reason why politicians have long shied away from addressing Social Security’s massive financial problems. The commonly proposed solutions involve cutting benefits or raising taxes, which would spark an outcry from a range of powerful constituents, including senior citizens and the business community. The situation, however, is only growing more critical. The combined Social Security trust funds are projected to run dry in 2034, according to the latest annual report from the entitlement program’s trustees that was released last week. At that time, the funds’ reserves will be depleted, and the program’s continuing income will only cover 80% of…
Shares of exchange-traded funds focused on energy were surging Monday after a large group of oil producers known as OPEC+ surprised markets with a planned cut in crude production. Shares of the Energy Select Sector SPDR Fund XLE, -1.52% were up 3.9% around midday Monday, while the Vanguard Energy ETF VDE, -1.48% rose 4.1%, and SPDR S&P Oil & Gas Exploration & Production ETF XOP, -1.41% climbed 3.4%, FactSet data show, at last check. The United States Oil Fund LP USO, +0.03% was trading 5.4% higher, on pace for its largest daily percentage increase since March 2022. On Sunday, OPEC+…
Dogecoin tumbled on Friday after Twitter changed its homepage logo back to the blue bird, ditching as an icon the Shiba Inu dog that represents the meme cryptocurrency and putting an end to a rally in prices. The price of Dogecoin has fallen 9% over the past 24 hours, having now dropped almost 20% since the peak hit earlier this week after Twitter changed its logo to that of the Shiba Inu icon late on Monday. Prices are now some 5% above where they were before Twitter’s surprise move, which kicked off a rally that saw the so-called memecoin surge…
My husband is 81 years old and I am 68. He was a banking professional for many years and retired in 2007. He always handled our finances but became ill a few years ago. I took it upon myself to sort out our tax situation and was appalled to find he had not done our taxes after 2018. He got sick in 2019 and is unable to manage our finances. I’m working with a tax preparer who filed for an extension for 2022 since she can’t get to us until after April 18. Will the IRS take into consideration that…
The numbers: The U.S. added a robust 236,000 new jobs in March, defying the Federal Reserve’s hopes for a big slowdown in hiring as the central bank struggles to tame inflation. The consensus economist forecast called for a nonfarm-payrolls expansion of 238,000. The solid increase in employment last month followed a revised 326,000 gain in February and a gain of 472,000 in January. While the increase in hiring was the smallest monthly rise in more than two years, the number of jobs created last month was much greater than is typical. The unemployment rate, meanwhile, slipped to 3.5% from 3.6%…
© Reuters. FILE PHOTO: The logo for McDonald’s restaurant is seen as McDonald’s Corp. reports fourth quarter earnings, in Arlington, Virginia, U.S., January 27, 2022. REUTERS/Joshua Roberts (Reuters) -McDonald’s Corp is cutting pay packages for some employees as part of a restructuring that includes layoffs and the shutting down of some offices, the Wall Street Journal reported on Friday, citing people familiar with the matter. Reuters on Monday reported that the number of corporate employees the company was planning to lay off this week will tally in the “hundreds.” The fast-food chain has offered some employees a chance to remain…
By Barani Krishnan Investing.com — stockpiles fell sharply for a second week in a row, accompanied by large drawdowns as well in gasoline and distillates inventories as domestic refiners prepared for busy summer travels, weekly government data released on Wednesday showed. in storage fell by 3.739 million barrels during the week ended March 31, the U.S. Energy Information Information, or EIA, said in its Weekly Petroleum Status Report. In the previous week to March 24, crude stockpiles tumbled by 7.489M barrels. Analysts tracked by Investing.com had expected the EIA to report a crude balance decline of 2.329M barrels instead. Adding…
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The dollar stumbled on Monday, surrendering earlier gains following unexpected oil output cuts from OPEC+, as data showed the U.S. economy continued to slow with declines in manufacturing and construction spending. Data on Monday added to the narrative that the Federal Reserve is near the end of its rate-hike cycle. An announcement on Sunday of output target cuts by the Organization of the Petroleum Exporting Countries (OPEC) and its allies, known as OPEC+, propelled oil prices higher. last traded at $84.9 per barrel, up 5.7%. [O/R] The dollar initially rose after the announcement.…
