Category: Market News
Garmin Ltd. GRMN, -1.91% said Friday that is shareholders have approved an annual dividend of $2.92 a share, up 9% from the previous dividend of $2.68 a share. The Switzerland-based navigation, communications and information devices maker said receiving shareholder approval for dividends is in accordance with Swiss corporate law. Based on current stock prices, the […]
Economists at Jefferies, like those at Barclays, now expect the Federal Reserve to hike by 75 basis points at the June 14-15 policy meeting “as inflation expectations begin to de-anchor.” In a note, Jefferies economists Aneta Markowska and Thomas Simons wrote that Friday’s inflation data — both the CPI and UMich inflation expectations — “are […]
Major U.S. stock indexes finished sharply lower Friday, after a May reading of inflation showed no signs of a slowdown in high costs of living. The Dow Jones Industrial Average DJIA, -2.73% tumbled about 881 points, or 2.7%, to end near 31,392, while also booking a 4.6% weekly skid. That marked the worst daily percentage […]
Gold prices soared on Friday after May inflation data came in hot, shattering hopes that high costs of living in the U.S. might be buckling as the Federal Reserve works to tighten financial conditions. Gold for August delivery GCQ22, +1.38% shot up 1.2% on Friday, adding $22.70, to settle at $1875.50 an ounce on Comex. […]
Freestone Acquisition, a special purpose acquisition company (SPAC), has filed Friday to withdraw its registration for an initial public offering, about a year after initially filing to go public. The SPAC had filed its S-1 Registration Statement on May 14, 2021 then set terms for the IPO on July 23, 2021, saying it planned to […]
In a note on the internet sector, Goldman Sachs downgraded several stocks, moving Netflix NFLX, -5.15%, eBay EBAY, -3.00%, Roblox RBLX, -5.80% and Frontdoor FTDR, -3.83% to sell from neutral and GoodRx Holdings GDRX, -4.43% to neutral from buy. Analysts led by Eric Sheridan say they have concerns around the impact of a consumer recession […]
COVID cases are spreading fastest in three key warm-weather tourist destinations in the U.S.,the New York Times reported Friday. Miami-Dade County in Florida, Honolulu County in Hawaii and San Juan in Puerto Rico are current averaging at least 85 new cases a day per 100,000 residents and positivity rates exceed 20%, the paper reported from […]
The U.S.-listed shares of Credit Suisse Group AG CS, -5.09% CSGN, -3.32% shed 4.0% in afternoon trading Thursday, after The Wall Street Journal reported that State Street Corp. STT, -1.30% said it was not pursuing an acquisition of, or any business combination with, the Switzerland-based bank. State Street said there was no basis to the […]
Oatly Group AB OTLY, -5.09% said Thursday that it has added five heavy-duty electric trucks to its fleet in the U.S. The plant-based dairy company has had electric vehicles in use in Europe since 2020. The company’s goal is to move entirely to sustainable ground transportation by 2029. Oatly is working with its European partner […]
Shares of cruise operators suffered sharp declines for a second-straight session, amid signs of declining pricing and what that might mean for demand. Carnival Corp.’s CCL, -9.28% CCL, -9.18% stock dove 5.6% in afternoon trading, enough to make it the second-worst performer among S&P 500 SPX, -2.38% components. The next two worst S&P 500 performers […]