Month: May 2022
Senate panel investigates Abbott tax practices after contamination shut down baby formula plant
The Senate Finance Committee on Wednesday opened an investigation into Abbott Labs, the company at the center of a baby formula shortage in the U.S. Committee Chairman Sen. Ron Wyden, D-Ore., sent a letter to CEO Robert Ford requesting information on Abbott’s international tax practices and $8 billion in stock buybacks the company has authorized […]
Read More
Amazon’s Twitch, Discord, 4chan face New York AG probe after Buffalo shooting
New York State Attorney General Letitia James in New York City, November 19, 2019. Lucas Jackson | Reuters New York Attorney General Letitia James will investigate social media companies including Amazon’s Twitch in connection to the apparently racially-motivated shooting at a Buffalo supermarket that left 10 dead and three injured. James’ office will also focus […]
Read More
Hasbro slams activist investor’s proposed board directors as proxy battle heats up
Game maker Hasbro. Justin Sullivan | Getty Images Hasbro is going on the offensive against an activist investor wants to add new members to the company’s board and spin off the lucrative unit that includes Dungeons & Dragons. On Wednesday, the toymaker issued a letter to shareholders detailing why its current slate of board nominees […]
Read More
Here’s what Walmart, Target, Home Depot and Lowe’s tell us about the state of the American consumer
How well is the American consumer holding up against sky-high inflation? It depends on whom you ask. Four major retailers — Walmart, Target, Home Depot and Lowe’s — reported quarterly financial results this week, and they each offered a different perspective on where and how people are spending their money. Walmart said some of its […]
Read More
We’re adding to a health insurance stock on the dip that had great earnings
This company got off to a solid start this year, reporting at the end of last month a strong first-quarter earnings beat and a full-year outlook raise. Source
Read More
Jeremy Grantham says today’s bubble is worse than 2000, calling stocks to at least double the losses
Jeremy Grantham, a famed investor with a track record of identifying market bubbles, said the downturn today is worse than the tech bubble of 2000, calling stocks to at least double their losses. “The other day, we were down about 19.9% on the S & P 500 and about 27% on the Nasdaq. I would […]
Read More
Apple may have to slide a lot further before the market sell-off stops, trader says
Investors looking for an end to the ferocious selling of 2022 should watch Apple, which may have to tumble a good deal further yet before a market bottom is put in, according to trader Danielle Shay. The tech bellwether already is down 20% this year after a 5% drop Wednesday sent the stock into a […]
Read More
Novogratz says UST was a ‘big idea that failed’ after collapse, but he’s still confident in crypto
Crypto investor Michael Novogratz has broken his silence about the collapse of the Terra ecosystem, saying in a letter on Wednesday that he was confident in the industry over the long term. Novogratz’s investment firm Galaxy Digital invested in luna, the sister coin of TerraUSD, also known UST, in the fourth quarter of 2020 using […]
Read More
‘Pharma bro’ Martin Shkreli released from federal prison and into New York halfway house
Former pharmaceutical executive Martin Shkreli departs the U.S. District Court for the Eastern District of New York, August 3, 2017 in the Brooklyn borough of New York City. Getty Images Notorious “Pharma bro” fraudster Martin Shkreli was released from a federal prison in Pennsylvania on Wednesday and into a U.S. Bureau of Prisons halfway house […]
Read More
Why Tesla was kicked out of the S&P 500’s ESG index
An aerial view of the Tesla Fremont Factory on May 13, 2020 in Fremont, California. Justin Sullivan | Getty Images The S&P 500 booted electric vehicle maker Tesla from its ESG Index in an annual rebalancing. Meanwhile, Apple, Microsoft, Amazon and even oil and gas multinational Exxon Mobil were included on the list. The S&P […]
Read More