Foot Locker (FL) met second-quarter earnings expectations but fell well short of sales estimates as the company reduced its full-year outlook amid “ongoing consumer softness.” The footwear and apparel retailer’s stock plunged on the news by more than 25% at the open of Wednesday’s trading session. For the second quarter ended July 29, Foot Locker… Continue reading Foot Locker Blames Weak Quarter on ‘Consumer Softness’ As Stock Plunges
Americans are applying for mortgages at the lowest rate in 28 years
US mortgage applications for home purchases fell to their lowest mark in 28 years, Mortgage Bankers Association data showed. Refinancing also declined to a level 35% lower than the same week last year. Mortgage rates climbed to 7.31% in the week ending August 18, the highest in 23 years. Loading Something is loading. Thanks for… Continue reading Americans are applying for mortgages at the lowest rate in 28 years
Here’s what Wall Street expects from Jerome Powell at Jackson Hole
Fed chief Jerome Powell is scheduled to speak Friday at Jackson Hole, Wyoming. Markets will be hanging on his every word, and Wall Street expects him to focus on inflation and interest rates. Inflation has cooled from a year ago, the job market remains tight, and economists have lowered their near-term recession odds. Loading Something… Continue reading Here’s what Wall Street expects from Jerome Powell at Jackson Hole
Nike stock rout deepens in longest run of declines since 1980
Nike shares are on their longest losing streak since the company went public in 1980. The stock has seen nine straight days losses amid concerns about a demand slowdown in China. Nike has shed more than 20% in market capitalization so far in 2023. Loading Something is loading. Thanks for signing up! Access your favorite… Continue reading Nike stock rout deepens in longest run of declines since 1980
Big-money investors are increasingly bullish on these 8 AI beneficiaries, according to a Goldman Sachs analysis of over 744 hedge funds with a combined $2.4 trillion in equities
Hedge funds’ top holdings have performed much better this year than in 2022 or 2021. Well-timed investments in large-cap tech companies and cyclical stocks lifted returns. Here are eight artificial intelligence beneficiaries that hedge funds are gravitating toward. Hedge funds took advantage of the robust market rally in the first half of 2023 by buying… Continue reading Big-money investors are increasingly bullish on these 8 AI beneficiaries, according to a Goldman Sachs analysis of over 744 hedge funds with a combined $2.4 trillion in equities
Cathie Wood’s flagship Ark fund is ‘dead money’ as it’s actually down 18% from 5 years ago, markets guru Larry McDonald says
Cathie Wood’s flagship Ark fund is “dead money”, said Larry McDonald, citing its poor longer-term performance. Despite its gains in 2023, the Ark Innovation ETF is still down by about 18% from five years ago, the markets guru pointed out. “They said to get long sexy innovation, what they didn’t say is you are actually… Continue reading Cathie Wood’s flagship Ark fund is ‘dead money’ as it’s actually down 18% from 5 years ago, markets guru Larry McDonald says
Not all pensions are created equally, so choose wisely
Variations can impact retirement income, estate planning, control and costs Published Aug 22, 2023 • Last updated 16 hours ago • 6 minute read Individuals can pave the way towards a more secure and prosperous retirement by carefully considering the unique features and benefits of different pension plans. Photo by Getty Images/iStockphoto By Chris Warner Pensions… Continue reading Not all pensions are created equally, so choose wisely
Macy’s Sales Slide As Retailer Issues ‘Cautious’ 2023 Outlook
Macy’s (M) second-quarter revenues fell amid declines across its in-store, online, brick-and-mortar and digital businesses as well as its credit card segment due to delinquencies. The retailer’s sales and earnings results beat expectations, however, helped by clearance markdowns and promotions. In response to the mixed results, Macy’s stock fell by more than 10% in the… Continue reading Macy’s Sales Slide As Retailer Issues ‘Cautious’ 2023 Outlook
Recent Post
