Tag: brokerswatch
In the run-up to Wednesday’s policy announcement by the Federal Reserve, SEI, an overseer of $1.3 trillion in assets, sees a likelihood that the central bank’s hiking cycle will end at a level that leaves interest rates twice as high as they are now. The Oaks, Pennsylvania-based firm sees a “reasonable base case” that the […]
U.S. stocks are paring their losses as the final hour of trading begins on Tuesday, although the Dow Jones Industrial Average remained down more than 400 points on the day. The blue-chip gauge DJIA, -1.01% was off 413 points, or 1.3%, at 30,615, leaving it within 1,000 points of its 52-week low from mid-June. The […]
Oil futures declined on Tuesday, with U.S. benchmark prices settling at their lowest in almost two weeks. “A strong U.S. dollar, rising yields and concerns over demand as the global economy slows is weighing on crude oil prices again,” said Michael Hewson, chief market analyst at CMC Markets UK. Markets are gearing up for “multiple […]
Shares of Charter Communications Inc. CHTR, -2.37% dropped 2.1% in afternoon trading Tuesday toward a 3 1/2-year low, buy pared earlier losses of as much as 2.7%, after a Texas judge reduced what the cable company must pay in damages to a murder victim’s family to $1.15 billion, according to a report in The Wall […]
Shares of Weyerhaeuser Co. WY, -5.85% took 6.4% dive in afternoon trading, toward a 21-month low, after BofA Securities analyst George Staphos downgraded the paper and forest products company, citing a lower outlook for operating rates and pricing for wood products and a “looming recession.” Staphos cut his rating to neutral from overweight, and lowered […]
California Gov. Gavin Newsom has signed 10 new cannabis bills into law ranging from SB 1326 to create a basis for interstate cannabis transactions with entities outside California, to SB 1186, which will grow patients’ access to legal cannabis. AB 1706 will seal old cannabis-related convictions and AB 2188 aims to protect against employment discrimination […]
Ford Motor Co. F, -11.51% stock on Tuesday fell to its lowest since July 27 and was on pace for its largest one-day percentage drop in two years a day after the auto maker said inflation and parts shortages will leave it with more unfinished vehicles than it had expected and paying more for the […]
Shares of Papa John’s International Inc. PZZA, -3.21% slid 2.6% toward a near 2-year low in morning trading Tuesday, after Stifel Nicolaus analyst Chris O’Cull cut his price target, citing signs that the pizza seller was “not delivering” in recent months. “We believe quick-service pizza may report the weakest SRS [same-restaurant sales] performance of any […]
The head of the United Nations is highlighting the challenge of dealing with the persisting COVID pandemic as one of the major challenges that has the world in “great peril” in speeches and remarks leading up to this week’s General Assembly. The climate crisis, increasing poverty and inequality are also featuring as key issues for […]
Shares of Etsy Inc. ETSY, -3.01% slumped 3.2% in morning trading Tuesday, after the BofA Securities analyst Curtis Nagle’s lackluster call on the online crafts marketplace, calling the company an “eclectic, high margin” e-commerce company, but “not at a bargain price.” Nagle initiated Etsy with a neutral rating and stock price target of $120, as […]