Category: Market News
Stocks ended higher Thursday, extending their weekly gains, a day after the Federal Reserve increased its policy rates for the first time since 2018 and kicked off a new era of tighter financial conditions to help combat inflation. The Dow Jones Industrial Average DJIA, +1.23% rose about 416 points Thursday, or 1.2%, ending near 34,479. […]
Shares of GameStop Corp. GME, +0.97% fell more than 8% in the extended session Thursday after the specialty retailer swung to a surprise quarterly loss and confirmed plans to launch a marketplace for non-fungible tokens, or NFTs. GameStop said it lost $147.5 million, or $1.94 a share, in the fourth quarter, versus earnings of $80.3 […]
Shares of JoAnn Inc. JOAN, -3.13% fell more than 7% in the extended session Thursday after the retailer missed Wall Street’s fourth-quarter expectations and said it had to absorb nearly $60 million in increased ocean freight costs in the full year. JoAnn said it earned $13.6 million, or 32 cents a share, compared with $38.3 […]
S&P Global took Russia’s debt rating deeper into junk territory late Thursday, saying it considers the country’s bonds “highly vulnerable to nonpayment.” S&P rated it CC/C, from CCC-/C, and kept a negative outlook. S&P downgraded Russia’s debt twice since late February, reflecting concern about sanctions and other economic difficulties after Russia’s invasion of Ukraine. Investors […]
A previous version of this report misstated the number of new hires in Toronto and Atlanta. It has been corrected. Walmart Inc. WMT, +0.15% announced plans on Tuesday to hire 5,000 associates to work in the retail giant’s global tech hubs, including new hubs in Toronto and Atlanta. Walmart Global Tech will start with 45 […]
Oil futures settled higher on Thursday, with the U.S. oil benchmark back above the $100 mark. A combination of the International Energy Agency on Wednesday reporting that upwards of 3 million barrels a day in Russian oil supply could be lost in the coming weeks, and “fading optimism” for a ceasefire deal between Russia and […]
Impossible Foods Inc. on Thursday said Peter McGuinness will start as chief executive starting April 4 to succeed founder Pat Brown. McGuinness joins from Chobani CHO, -4.04%, where he was president and chief operating officer. Source: Marketwatch
G-III Apparel Group Ltd. GIII, +12.77% shares soared 10.8% in Thursday trading after it reported fourth-quarter profit that blew past expectations and gave upbeat guidance. The Calvin Klein parent posted net income of $48.4 million, or 98 cents per share, up from $14.6 million, or 30 cents per share, last year. Sales of $748.2 million […]
Citigroup Inc. C, +3.07% said on page 20 of its latest proxy statement it began offering in 2022 “travel benefits to facilitate access to adequate resources” for reproductive health. The bank said the benefit was “in responses to reproductive healthcare laws in certain states in the U.S.” The policy allows for reimbursements of costs paid […]
A rise in COVID-19 cases in Europe driven by the highly contagious omicron variant is fueling concerns that it will be followed by a new wave of cases in the U.S., which has typically lagged Europe by a matter of weeks. Europe is seeing a fresh rise in cases that involves a subvariant of omicron […]