Category: Market News
Oil futures finished Wednesday with a loss for a third consecutive session, with the U.S. oil benchmark at its lowest settlement since Feb. 25. Data from the Energy Information Administration released Wednesday revealed the first rise in U.S. crude supplies in three weeks, and traders showed concern that high fuel prices may lead to less […]
Stocks ended sharply higher Wednesday in a session marked by big swings after the Federal Reserve delivered a widely expected quarter-point rate hike and penciled in a series of increases over the rest of the year. The Dow Jones Industrial Average DJIA, +1.55% dipped into negative territory after the Fed announcement, but roared back by […]
WD-40 Co. WDFC, +2.55% said late Wednesday that Chief Executive Garry Ridge will retire from his post on Aug. 31 as part of a “planned leadership transition.” Steve Brass, the company’s chief operating officer, has been appointed CEO, effective Sept. 1. Brass will also serve on the company’s board of directors, WD-40, the maker of […]
Shares of Williams-Sonoma Inc. WSM, +2.65% rallied more than 10% in the extended session Wednesday after the retailer reported quarterly profit above expectations and raised its dividend. Williams-Sonoma said it earned $403 million, or $5.41 a share, in the fourth quarter, compared with $309 million, or $3.92 a share, in the year-ago quarter. Revenue rose […]
Lennar Corp. LEN, +2.60% shares rose more than 2% in the extended session Wednesday after the home builder reported first-quarter profit that topped Wall Street expectations and said its “strong sales” reflected ongoing strength in the housing market. Lennar said it earned $503.6 million, or $1.69 a share, in the first quarter, compared with $1 […]
Nordstrom Inc. JWN, +3.32% said late Wednesday it is reinstating a quarterly dividend, with the company’s board of directors approving a quarterly dividend of 19 cents a share payable April 13 to shareholders of record at the close of business on March 28. Nordstrom shares rose 1.2% in the extended session after ending the regular […]
White House press secretary Jen Psaki on Wednesday urged operators of gasoline RB00, -1.11% stations to pass on the recent retreat in oil prices CL00, -1.59% to Americans. “Retail gasoline prices are updated at least daily, and if gas retailers’ costs are going down, they need to immediately pass those savings on to consumers,” she […]
A trade group representing Europe’s largest energy traders asked governments and central banks for emergency assistance, warning of a cash crunch resulting from commodity-market volatility following Russia’s invasion of Ukraine, the Financial Times reported Tuesday. In a letter, the European Federation of Energy Traders, whose members include BP, Shell and commodity traders Vitol and Trafigura, […]
The Energy Information Administration reported on Wednesday that U.S. crude inventories rose by 4.3 million barrels for the week ended March 11. That followed two consecutive weeks of declines. On average, the EIA was expected to show crude inventories up by 200,000 barrels, according to analysts surveyed by S&P Global Commodity Insights. The American Petroleum […]
Plant-based Very Good Food Co. Inc. VGFC, -20.06% said Wednesday that it is temporarily lowering both production and headcount, halting non-critical capital expenditures, and taking other steps to manage liquidity and drive profitability. Supply chain disruptions have driven inventory to levels that require a pullback in production. The company says it will also focus on […]