Category: Market News
Sherwin-Williams Co. shares SHW, -2.81% slid 3% in premarket trade Friday, after the paint maker lowered its fourth-quarter and full-year guidance, citing a shortage of raw materials amid supply-chain constraints and labor challenges. “While availability of some raw materials has improved slightly, others including select resins and additives specific to our professional contractor products remain […]
The World Health Organization said Friday it is recommending two new drugs as treatments for COVID-19 and said the extent to which they can save lives will depend on how widely available and affordable they will be. The agency said the first drug, baricitinib, a treatment for rheumatoid arthritis, is recommended for patients with severe […]
JPMorgan Chase & Co. JPM, -6.15% shares fell 3% in premarket trades on Friday on the heels of its fourth-quarter profit update and guidance for 2022. The bank expects 2022 net interest income of about $50 billion, which is below the latest target of $55.7 billion in a survey of analysts by FactSet. JPMorgan Chase […]
The ODP Corp. ODP, +3.13% said Friday its board has decided to delay its plan to split into two companies to give it time to evaluate the potential sale of its consumer business. The office supplies retailer approved a plan for a tax-free spin off to its shareholders last May that would separate ODP from […]
Citigroup Inc. C, -1.25% said Friday its fourth-quarter net income fell to $3.17 billion, or $1.46 a share, from $4.3 billion, or $1.92 a share, in the year-ago period. Revenue increased to $17 billion from $16.8 billion. The New York-based bank beat the Wall Street targets of $1.39 in earnings on revenue of $16.85 billion, […]
Vail Resorts Inc. MTN, +2.12% said Friday that total skier visits at its North American resorts were down 1.7% in the season through Jan. 2, compared to the prior-year period and down 18.3% compared to the fiscal year 2020 season-to-date period, before the start of the pandemic. The ski resort operator said season-to-date total lift […]
The numbers: Sales at U.S. retailers such as Target and Amazon sank 1.9% in December — the biggest drop in 10 months — as the omicron variant of coronavirus spread like wildfire and shoppers confronted higher prices and shortages of some popular products. Economists polled by The Wall Street Journal had forecast a 0.1% decline […]
Shares of J.P. Morgan Chase & Co. JPM, -6.15% were the worst premarket performer of the Dow Jones Industrial Average’s DJIA, -0.56% components, as they dropped 4.3% following disappointing fourth-quarter results. The implied price decline would shave about 47 points off the Dow’s price, while Dow futures YM00, +0.15% slumped 249 points, or 0.7%, ahead […]
U.S. import prices slid 0.2% in December to mark the first decline in five months, largely because the cost of oil fell. Excluding fuel, import prices rose 0.5% in December. Import prices rose 10.4% in 2021 and contributed to the biggest increase in U.S. inflation in almost 40 years. Prices started to level off toward […]
U.S. stocks opened lower Friday, under pressure after a much weaker-than-expected reading on December retail sales and earnings from major banks. The Dow Jones Industrial Average DJIA, -0.56% fell 400 points, or 1.1%, to 35,714, while the S&P 500 SPX, +0.08% dropped 0.8% to 4,624. The Nasdaq Composite COMP, +0.59% was down 0.5% at 14,739. […]
