Category: Market News
Shares of Big Lots Inc. BIG, -12.10% plunged 21.2% toward a two-year low in premarket trading Friday, after the home discount retailer swung to a surprise fiscal first-quarter loss and sales that fell more than forecast, as gross margin fell amid challenging changes in consumer demand. The net loss for the quarter to April 30 […]
The White House on Thursday announced more steps to make the antiviral treatment Paxlovid more accessible across the U.S. as it projects COVID-19 infections will continue to spread over the summer travel season, the Associated Press reported. The nation’s first federally backed test-to-treat site is opening Thursday in Rhode Island, providing patients with immediate access […]
The U.S. listed shares of Pinduoduo Inc. PDD, +15.19% charged 9.5% higher in premarket trading Friday, after the China-based mobile marketplace reported first-quarter profit and revenue that rose well above expectations, as gross margin improved sharply with costs falling. The company swung to net income of RMB2.60 billion ($410.1 million), or RMB1.84 a share, from […]
Hibbett Inc. shares HIBB, +2.74% slid 4% in premarket trade Friday, after the sporting goods retailer missed profit estimates for its fiscal first quarter amid rising costs. The company posed net income of $39.3 million, or $2.89 a share, for the quarter to April 30, down from $84.8 million, or $5.00 a share, in the […]
Shares of LyondellBasell Industries N.V. LYB, +5.00% rose 1.1% in premarket trading Friday, after the U.K.-based chemical company said it will pay a special dividend of $5.20 a share, after setting new records for cash generation in 2021. With 327.6 million shares outstanding, the special dividend represents a payout of $1.70 billion. The company also […]
Immersion Corp. IMMR, +5.86% said Friday that it has filed a patent-infringment complaint against Facebook-parent Meta Platforms Inc. FB, +1.83% in a Texas court. Immersion stock rose 0.7% in premarket trading, while Meta shares shed 0.8%. Immersion alleges that Meta’s augmented and virtual reality systems, including the Meta Quest 2, infringe on six patents that […]
The PCE inflation index is forecast to rise 0.2% in April in what would be the smallest increase in a year and a half. The core PCE, which strips out food and energy, is also seen rising a smallish 0.3%. Consumer spending is expected to increase 0.7% in April, based on a survey of economists […]
President Joe Biden had planned to announce forgiveness for student loans as soon as this weekend as he gives a speech at the University of Delaware’s commencement, but that timing has changed after Tuesday’s school shooting in Uvalde, Texas, according to a Washington Post report on Friday citing unnamed sources. White House officials currently plan […]
Shares of Lowe’s Companies LOW, +2.10% rose 0.8% in premarket trading Friday, after the home improvement retailer raised its dividend by 31.3%. The new quarterly dividend of $1.05 a share, up from 80 cents, will be payable Aug. 3 to shareholders of record on July 21. Based on Thursday’s stock closing price of $195.53, the […]
Stocks ended sharply higher Friday, cementing a bounce that saw the Dow Jones Industrial Average end a streak of eight straight weekly declines, while the S&P 500 and Nasdaq Composite end a run of seven consecutive weekly declines. The Dow DJIA, +1.76% rose around 576 points Friday, or 1.8%, to close near 33,214, according to […]