Tag: Marketwatch
The U.S. Department of Justice announced Tuesday that it has obtained a settlement agreement with Meta Platforms Inc. META, -4.09%, formerly known as Facebook Inc., to resolve allegations of discriminatory advertising in violation of the Fair Housing Act (FHA). Shares of Meta reversed an earlier gain of as much as 2.5% to trade down 3.6% […]
The U.S. stock market closed sharply higher Tuesday, with the S&P 500 bouncing from its worst week since March 2020 as investors bought the dip amid concerns of an economic slowdown. The Dow Jones Industrial Average DJIA, +2.15% jumped around 643 points to close more than 2% higher, while the S&P 500 SPX, +2.45% and […]
Published: June 21, 2022 at 4:13 p.m. ET President Joe Biden on Tuesday offered signs that he could support suspending the federal gasoline tax, as he responded to a reporter’s question on how a gas tax holiday would make it difficult to pay for major infrastructure projects. “We have plenty of capacity to do that,” […]
La-Z-Boy Inc. LZB, -1.98% shares rallied more than 11% in the extended session Tuesday after the furniture maker reported fiscal fourth-quarter earnings above Wall Street expectations and said it is focusing on its backlog and long lead times. La-Z-Boy said it earned $57.5 million, or $1.33 a share, compared with $37.5 million, or 81 cents […]
President Joe Biden on Tuesday said Chevron CVX, +4.19% CEO Michael Wirth seemed thin-skinned about criticism from the White House. Asked to comment on a letter in which the oil executive said the Biden administration has at times vilified the oil industry and called for the White House to change its approach, Biden replied: “He’s […]
Department stores, like Nordstrom Inc. JWN, -0.65%, Macy’s Inc. M, +0.86%, Kohl’s Corp. KSS, +5.32% and Dillard’s Inc. DDS, +1.91% are at risk from what analysts call an “unprecedented” amount of merchandise. “First, retailers significantly overestimated consumer demand when it made inventory decisions for 2022,” UBS analysts led by Jay Sole said. “Second, consumer tastes […]
General Electric Co. GE, +0.36% said Tuesday that it has opened the claims process for the GE Fair Fund, which was established to compensate investors “harmed” by GE’s failure to disclose “material” information related to the power and insurance businesses. The industrial conglomerate said the Fund was established by the Securities and Exchange Commission to […]
Global-E Online Ltd. GLBE, +9.13% announced early Tuesday that it has entered into a definitive agreement to acquire Pitney Bowes Inc.’s PBI, +2.20% e-commerce global mailing and shipping business, Borderfree, for $100 million, financed in cash. Borderfree is expected to generate $40 million in revenue in calendar 2022. Borderfree helps e-commerce businesses manage local regulations […]
Starbucks Corp. SBUX, +1.30% announced additions to its summer menu on Tuesday, including two beverages, the Pineapple Passionfruit Refresher and Paradise Drink Refresher, which adds coconut milk to the mix; the chicken, maple butter and egg sandwich; and a Cookies & Cream Cake Pop. Pineapple and passionfruit are also heading to the grocery aisle in […]
Florida Gov. Ron DeSantis on Thursday defended his state’s decision not to apply for COVID-19 vaccines for young children ahead of expected federal approvals, the New York Post reported. Florida is the only state not to make a preorder for vaccines for children aged 6 months to 5 years, a decision met with criticism from […]