Category: Market News

Twitter Inc. TWTR, +0.25% announced Tuesday that it has scheduled its special meeting at which shareholders will vote on whether to approve Tesla Inc. TSLA, -3.57% Chief Executive Elon Musk’s $44 billion takeover of the company. The meeting will take place Sept. 13. at 10 a.m. Pacific. Twitter has urged shareholders to approve the deal […]

Williams-Sonoma Inc. WSM, -2.03% said late Tuesday that Ryan Ross, president of its flagship Williams Sonoma brand, is resigning effective immediately “to assume a leadership role outside of the company.” The retailer said Chief Marketing Officer Felix Carbullido will become the president of the Williams Sonoma brand. Shares of Williams-Sonoma fell 2.2% in the extended […]

Natural-gas futures climbed on Tuesday to settle at their highest since June 7, according to Dow Jones Market Data. Prices continued to find support after reports that Russian state-owned energy producer Gazprom’s natural-gas exports through the Nord Stream pipeline to Germany would drop by half. August natural gas NGQ22, +1.65% rose 27 cents, or nearly […]

Grill maker Traeger Inc. COOK, -6.88% was downgraded to neutral from outperform at Credit Suisse, with analysts saying that recent news from both Traeger and rival Weber Inc. WEBR, -4.73% “suggest a soft start to the summer selling season and more importantly, dampened consumer sentiment.” Credit Suisse cut Traeger’s price target to $4 from $8. […]

Shopify Inc. SHOP, -15.51% is planning to lay off around 10% of its workforce as it admits that e-commerce growth hasn’t continued as robustly as expected. The Wall Street Journal first reported the news Tuesday, citing a memo to staffers. Shopify confirmed the details in a blog post. The layoffs are expected across the company […]

U.S. stocks opened lower on Tuesday after Wal-Mart WMT, -8.90% cut its profit outlook and blamed food inflation for forcing American consumers to curtail spending on other items. The S&P 500 SPX, -0.81% retreated 16 points, or 0.4%, to 3,951. The Dow Jones Industrial Average DJIA, -0.35% shed 97 points, or 0.3%, to 3,189. The […]

McDonald’s Corp. MCD, -1.42% posted net income totaling $1.188 billion, or $1.60 per share, down from $2.219 billion, or $2.95 per share, last year. Adjusted EPS of $2.55 beat the FactSet consensus for $2.47. Revenue of $5.718 billion was down from $5.888 billion last year and missed the FactSet consensus of $5.801 billion. Global comparable […]

Shares of Travelers Companies Inc. TRV, +2.28% rallied 1.8% in afternoon trading Monday, after Raymond James analyst C. Gregory Peters swung to bullish on the insurer via a double upgrade. Peters boosted his rating to strong buy from market perform, skipping the broker’s outperform rating in the process. He set his stock price target at […]

President Joe Biden on Monday played down the potential for a U.S. recession, as he responded to questions from reporters following a virtual event on a microchips bill. “God willing, I don’t think we’re going to see a recession,” Biden said. He said the unemployment rate is “still one of the lowest we’ve had in […]

Victor Reklaitis is MarketWatch’s Money & Politics reporter and is based in Washington, D.C. Prior to joining MarketWatch, he served as an assistant editor and reporter at Investor’s Business Daily. Before IBD, he worked for several newspapers in Virginia. Follow Victor on Twitter at: @vicrek. Source: Marketwatch