Updated at 7:44 am EST U.S. equity futures extended declines Thursday, while the safe-haven dollar consolidated gains against its global peers and oil prices slumped, as investors reacted to white-hot June inflation reading that has re-set expectations for Fed rate hikes. Stocks were also hit by a weaker-than-expected second quarter earnings report from JPMorgan (JPM)…
Updated at 8:04 am EST JPMorgan Chase & Co (JPM) – Get JP Morgan Chase & Co. Report posted weaker-than-expected second quarter earnings Thursday as loan growth slowed amid inflation uncertainty in the world’s biggest economy and the bank set aside more than $1 billion to cover credit risk. JPMorgan said earnings for the three months…
A potential recession will not spare many multinationals, that’s what investors who are liquidating their positions in tech giants seem to think. Alphabet ( (GOOGL) – Get Alphabet Inc. Report), the parent company of Google, seems to prove them right. The Mountain View-based, California company is preparing for tough times. Indeed, Sundar Pichai, the CEO,…
Amazon’s (AMZN) – Get Amazon.com Inc. Report Prime Day – actually it’s Days, July 12-13 – appears to be going well. During the first 32 hours, the average expenditure per order was $53.14, up 13% from $47.14 in the year-earlier period, according to market research firm Numerator. To be sure, whether Amazon’s total sales for the…
Amazon (AMZN) – Get Amazon.com Inc. Report Prime Day delivers a sort of adult Christmas in July. The annual event delivers Black Friday-like sales in the heart of the summer — at a time when nothing else is happening and back-to-school and the holiday season still seem a bit far off. It’s a chance to…
Canoo (GOEV) – Get Canoo Inc. Report, a young electric-vehicle manufacturer navigating serious financial stresses, got a lifeline just when it needed it. The financial problems have clouded Canoo’s future, to the point where analysts were wondering whether the company would file to reorganize or would be bought by either a competitor or by a company…
Fear of recession abounds. The economy shrank 1.6% annualized in the first quarter, and many economists expect a contraction in the second quarter as well. So what stocks might be able to weather the carnage? “We note that food retail stocks, including grocers, mass discounters, warehouse clubs, and dollar stores, have mostly outperformed the S&P…
Elon Musk once again occupies a place he loves: at the center of attention and conversation. The billionaire entrepreneur dropped a bombshell on July 8 by announcing in a Securities and Exchange Commission filing that he was no longer buying Twitter (TWTR) – Get Twitter Inc. Report after nearly three months of a saga rocked by…
Elon Musk sees himself more as a simple chief executive officer. His name is certainly attached to the manufacturer of premium electric vehicles Tesla (TSLA) – Get Tesla Inc. Report and to the space exploration and rocket company SpaceX, but the richest man in the world sees himself as a multi-faceted personality. It is in this perspective…
The first couple of years of the streaming wars have been rough. Consumers who cut the cord with their cable and television service providers now have a plethora of options to sign up for. Between Netflix (NFLX) – Get Netflix Inc. Report, Amazon (AMZN) – Get Amazon.com Inc. Report, Disney+ (DIS) – Get The Walt…
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