Tag: Marketwatch
Shares of Goodyear Tire & Rubber Co. GT, -9.49% rose 0.7% in premarket trading Friday, even after the tire marker reported first-quarter profit and sales that beat expectations, while gross margin contracted as cost of sales growth outpaced sales growth. Net income rose to $96 million, or 33 cents a share, from $12 million, or […]
The numbers: The U.S. added a solid 428,000 new jobs in April, but an acute labor shortage showed little improvement last month and threatens to add to the highest inflation in 40 years. Employment has risen by 400,000-plus for 12 straight months and the number of people working is likely to return to pre-Covid levels […]
Bank of America Corp. BAC, -0.24% said Thursday its 67 million consumer and small business clients hiked their aggregate credit and debit card spending by 13% in April. David Tinsley, senior economist for the Bank of America Institute, said the data “continues to paint a healthy picture of the U.S. consumer.” Credit card spending rose […]
Wells Fargo & Co. said it’s kicking off a new program to hire 100 spouses per year of people actively serving in the military over the next five years. The move coincides with Military Spouse Appreciation Day on Friday. Wells Fargo said Thursday it’ll offer mid- to high-level remote, hybrid, and in-office career opportunities with […]
U.S. stocks opened lower on Friday, extending Thursday’s selloff which saw the Dow Jones Industrial Average and Nasdaq Composite Index book their worst daily drops since 2020. Data released on Friday showed that the U.S. added a solid 428,000 new jobs in April, but an acute labor shortage showed little improvement last month and threatens […]
Shares of Nvidia Corp. NVDA, -0.90% fell 1.5% in morning trading Friday, after the semiconductor company agreed to pay a $5.5 million penalty, to settle charges made by the Securities and Exchange Commission regarding inadequate disclosures concerning the impact of cryptomining on Nvidia’s gaming business. The company also agreed to a “cease-and-desist” order, the SEC […]
The Surface Transport Board said late Friday that it will require certain railroads to submit “service recovery plans” and additional data and regular progress reports on rail service, operations, and employment after several railroad customers and others complained about delays and other problems. There were several accounts of “severe rail service issues” reported by several […]
U.S. stock indexes finished lower on Friday, capping a turbulent week on Wall Street with modest losses after the Federal Reserve moved its policy rate up by a half-percentage point and signaled similar increases were likely at the central bank’s next two policy meetings. The Dow Jones Industrial Average DJIA, -0.30% shed about 96 points, […]
Fed-funds futures traders see an 83% likelihood that the Federal Reserve will raise its main policy rate target by 75 basis points in June, to between 1.5% and 1.75%, according to the CME FedWatch Tool. Though down from 94% a week ago, the expectations have remained relatively unshaken even after Fed Chairman Jerome Powell said […]
Bausch + Lomb Corp.’s stock BLCO, +5.72% debuted Friday with a slight gain, which helped justify the disappointing pricing overnight of the lenses and medical devices maker’s initial public offering. The company said late Thursday that its IPO priced at $18 a share, which was well below the expected range of between $21 and $24, […]