Tag: Marketwatch

Charles Schwab Corp. SCHW, +1.02% on Friday reported a $6.5 billion drop in net new assets excluding mutual fund clearing as clients sold down their asset for cash disbursements during tax season. The broker said the move marked the highest ever client cash disbursements at Schwab. “These outflows include the impact of client portfolio actions […]

Werner Enterprises Inc. WERN, -0.69% said Friday that it raised its quarterly dividend by 8.3%, to 13 cents a share from 12 cents. The trucking company’s stock was still inactive in premarket trading. The new dividend will be payable July 19 to shareholders of record on July 5. Based on Thursday’s stock closing price of […]

Shares of jeweler Brilliant Earth Group Inc. BRLT, -33.63% sank 23.6% in Friday trading as consumers pull back on big purchases during a period of sky-high inflation and global unrest. “Despite a solid 1Q22 EPS, Brilliant Earth lowered FY22 guidance reflecting moderating growth from consumers pausing on making big purchases amid macro uncertainties,” wrote Cowen […]

Shares of Ryder System Inc. R, +17.03% ran up 17.4% in afternoon trading Friday, putting them on track for the biggest one-day gain in 47 years, after the truck rental company confirmed that it received an unsolicited buyout bid from HG Vora Capital Management. The company said it will “carefully review and evaluate the indication […]

Abbott Laboratories ABT, +1.77% said Friday that it will pay rebates for other infant formula products similar to Similac through August as a result of the current formula shortage caused in part by a recall at its plant in Michigan. The company has infant formula contracts with the Special Supplemental Nutrition Program for Women, Infants, […]

White House press secretary Jen Psaki on Friday told reporters that the Biden administration’s Department of Health and Human Services has launched a “new webpage that provides resources and places that parents can go to obtain formula, including contacts with companies, food banks, healthcare providers.” The website is hhs.gov/formula, she said. The Biden administration on […]

Shares of Amazon.com Inc. AMZN, +5.73% rallied 3.9% in afternoon trading Friday, amid a broad rally in technology names, but was still on track for the longest weekly losing streak in 14 years. The rally in the ecommerce giant’s stock comes after it rose 1.5% on Thursday, which followed a 3.2% drop on Wednesday to […]

President Joe Biden on Friday addressed his administration’s response to an ongoing U.S. baby-formula shortage, with his remarks coming as he responded to reporters’ questions after his speech on policing. “There’s nothing more urgent we’re working on than that right now, and I think we’re going to be making some significant progress very shortly,” Biden […]

U.S. stocks finished higher Friday, but with the Dow still ending a seventh week in a row lower, as investors worried about the Federal Reserve’s ability to tamp down high inflation without kicking the economy into a recession. The Dow Jones Industrial Average DJIA, +1.47% gained about 465 points Friday, or 1.5%, ending near 32,196. […]

Stock market internals suggest investors are exhibiting panic-like buying behavior as the market indexes rally, according to the Arms Indexes of both major exchanges. The Arms is a volume-weighted breadth measure that compares the ratio of advancing stocks to declining stocks to the ratio of advancing volume to declining volume, in order to gauge the […]