Category: Market News
Read Next Carnival stock pulls back after Stifel analysts slashes price target to incorporate a recession Shares of Carnival Corp. undefinedundefined fell 0.7% in premarket trading Monday, after Stifel Nicolaus analyst Steven Wieczynski “drastically” lowered his estimates to take account for the negative effects of a potential recession on the cruise operator. The stock pulled […]
In a note released on Wednesday, after data showed first-quarter U.S. gross domestic product contracted by more than previously estimated, JPMorgan Chase & Co.’s Bruce Kasman and Joseph Lipton said “it is reasonable to consider the risk that the US and/or global economy slips into recession this year.” They said “rising concern about persistent inflation […]
U.S. stocks ended near unchanged Wednesday, with the Dow Jones Industrial Average hanging on to a small gain, as investors weighed remarks by Federal Reserve Chair Jerome Powell. The Fed chief, speaking at a central banking conference in Portugal, said that he sees a path back to 2% inflation while sustaining a strong labor market […]
Xerox Holdings Corp. on Wednesday announced the death of Chief Executive John Visentin “due to complications from an ongoing illness.” Steve Bandrowczak, Xerox’s president and chief operations officer, will serve as interim CEO. Source: Marketwatch
Pfizer Inc. PFE, +0.55% and BioNTech SE BNTX, +1.54% said late Wednesday they have inked a new agreement with the U.S. government to supply 105 million doses of their COVID-19 vaccines, including a formulation adapted to target omicron variants, pending approval from the FDA. The two pharma companies said the doses are expected to be […]
Oil futures ended lower on Wednesday, pulling back after posting three consecutive gains, ahead of a meeting of key oil producers Thursday. The Organization of the Petroleum Exporting Countries and their allies, together known as OPEC+, are expected to confirm an existing agreement to boost production in August. The loss in oil prices came despite […]
Public Service Enterprise Group Inc. PEG, +0.06%, also known as PSE&G, said the New Jersey Board of Public Utilities has approved its Infrastructure Advancement Program (IAP), which allows it to invest $511 million over four years to update its distribution systems and improve reliability, “including during extreme weather.” The company said its program will create […]
Goldman Sachs Group Inc. GS, +2.11% rose 1.6% after Bank of America analyst Ebrahim H. Poonawala upgraded the company to buy from neutral on his view that the bank offers a relatively better value than its peers in a looming economic downturn. Poonawala raised his price target on Goldman to $380 a share from $360 […]
Performance Food Group Co. PFGC, -1.35% on Wednesday reiterated its 2022 sales forecast of $50.5 billion to $51 billion, including the impact of 10 months its Core-Mark acquisition. Analysts surveyed by FactSet currently expect the company to generate sales of $50.94 billion. By fiscal 2025, Performance Food Group forecasts sales of $62 billion to $64 […]
Gold futures fell on Tuesday, posting back-to-back losses to mark their lowest settlement in nearly two weeks. “It’s not surprising that gold continues to struggle on upticks,” said Peter Grant, vice president and senior metals strategist at Zaner Metals and Tornado Precious Metals Solutions. He points out that Federal Reserve Chairman Jerome Powell last week […]