Stocks resume upward push as Powell addresses path back to 2% inflation rate
Stocks resume upward push as Powell addresses path back to 2% inflation rate
Stocks resume upward push as Powell addresses path back to 2% inflation rate
Schnitzer Steel Industries Inc. rose 3.4% on Wednesday despite losses in other steel stocks after the company beat its earnings and revenue targets. Schnitzer Steel's third-quarter earnings of $2.59 a share beat the estimate of $2.30 a share and its revenue of $1.01 billion came in ahead of the forecast of $919.1 million, according to FactSet data. "The company's third quarter performance benefited from strong global demand for recycled metals and robust West Coast market conditions for finished steel products," Schnitzer said. Читать дальше...
Tune in live at noon Eastern: How the housing shortage is being addressed
The first quarter is in the books: The economy shrank at a 1.6% annual pace, the government's final appraisal shows. And the second quarter isn't looking all that great, either.
Fed Chairman Jerome Powell on Wednesday said there was no guarantee the Fed could engineer a soft landing for the U.S. economy.
Investigators say Walmart allowed scammers to run rampant, costing consumers hundreds of millions in losses.
Nasdaq off 70 points as U.S. stock indexes forfeit early Wednesday gains
Bed Bath & Beyond announced the departure of its Chief Executive Mark Tritton and first-quarter losses that were wider than Street expectations
This is a Real-time headline. These are breaking news, delivered the minute it happens, delivered ticker-tape style. Visit www.marketwatch.com or the quote page for more information about this breaking news.
This is a Real-time headline. These are breaking news, delivered the minute it happens, delivered ticker-tape style. Visit www.marketwatch.com or the quote page for more information about this breaking news.
This is a Real-time headline. These are breaking news, delivered the minute it happens, delivered ticker-tape style. Visit www.marketwatch.com or the quote page for more information about this breaking news.
This is a Real-time headline. These are breaking news, delivered the minute it happens, delivered ticker-tape style. Visit www.marketwatch.com or the quote page for more information about this breaking news.
Fed’s Powell sees path back to 2% inflation with sustained labor-market vigor
U.S. stocks opened slightly higher on Wednesday following two days of losses after the final reading on first-quarter GDP showed the American economy shrank by an even larger margin, while Federal Reserve Chairman Jerome Powell said the central bank is aiming to provoke a moderation in growth. The S&P 500 rose 3.8 points, or 0.1%, to 3,825, the Dow Jones Industrial Average gained 94 points, or 0.3%, to 31,041. The Nasdaq Composite was flat at 11,181.
Читать дальше...Shares of NIO Inc. were hit hard by a short-seller report, alleging exaggerated financial results, even as the China-based electric vehicle maker said the report is without merit and contains 'numerous errors.'
Fed’s Powell: Economy is ‘well positioned’ to withstand tighter monetary policy
A bear market leaves the S&P 500 on track for its worst first six months since 1970. Here's what's happened after stocks suffered steep first-half stumbles in the past.
Prices were higher across the precious metals space as gold, silver, palladium and platinum all traded higher.
Lewis Altfest sets parameters for screening dividend stocks ahead of a weakening economy.
Need to Know: Why this trader is back on the ‘long side of the energy market’
Shares of ALX Oncology Holdings Inc. gained 11.5% in premarket trading on Wednesday after the company said it received an orphan-drug designation for evorpacept, its experimental acute myeloid leukemia therapy. This designation is granted to drugs that treat diseases or conditions that affect fewer than 200,000 people in the U.S. ALX's stock has declined 62.5% so far this year, while the broader S&P 500 is down 19.8%.
Читать дальше...
Shares of Paychex Inc. edged up 0.1% in premarket trading Wednesday, after the human resources services company reported fiscal fourth-quarter profit and revenue that just topped expectations, while providing an upbeat full-year outlook. Net income for the quarter to May 31 rose to $296.4 million, or 82 cents a share, from $263.0 million, or 73 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share of 81 cents was above the FactSet consensus of 80 cents. Читать дальше...
Shares of Trevi Therapeutics Inc. jumped 38.1% in premarket trading on Wednesday after the company said its experimental treatment for prurigo nodularis, a type of inflammatory skin disease, met the primary endpoint in a Phase 2b/3 clinical trial. If approved, the oral treatment would be the first therapy to treat prurigo nodularis, Trevi said. The company's stock has soared 158.2% this year, while the broader S&P 500 is down 19.8%.
Читать дальше...U.S. economy contracted slightly more than previously estimated in first quarter
Performance Food Group Co. on Wednesday reiterated its 2022 sales forecast of $50.5 billion to $51 billion, including the impact of 10 months its Core-Mark acquisition. Analysts surveyed by FactSet currently expect the company to generate sales of $50.94 billion. By fiscal 2025, Performance Food Group forecasts sales of $62 billion to $64 billion. Analysts have not yet forecast sales for 2025 for the company, but they currently expected 2024 sales of $59.35 billion, according to FactSet data. Читать дальше...
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