Month: June 2022
Biden calls on Congress to ease Senate rules to codify Roe v. Wade
A person holds a sign reading “Codify Roe v. Wade” as abortion rights activists protest after the overturning of Roe Vs. Wade by the US Supreme Court, in Downtown Los Angeles, on June 24, 2022. Frederic J. Brown | AFP | Getty Images President Joe Biden on Thursday said he would support a suspending the […]
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Walgreens profits squeezed as Covid vaccines wane, company invests in health-care business
Walgreens Boots Alliance on Thursday said its quarterly sales declined and profits got hit by waning Covid-19 vaccination demand, heavy investments in its health care business and an opioid settlement with Florida. Shares were down by about 4% in morning trading. The drugstore chain stood by its full-year forecast, saying it expects adjusted earnings per […]
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Bitcoin on track for its worst quarter in more than a decade
Bitcoin is on track to post its worst quarterly loss in more than a decade. The world’s largest cryptocurrency has lost around 58% of its value in the second quarter of 2022, according to data from CryptoCompare. Bitcoin has fallen from $45,524 at the start of the quarter and was trading at around $18,000 on […]
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Supreme Court says EPA does not have authority to set climate standards for power plants
A view of the backside of the U.S. Supreme Court on June 6, 2022 in Washington, DC. According to media reports, Drew Angerer | Getty Images The Supreme Court on Thursday ruled the EPA does not have authority to set standards on climate-changing greenhouse gas emissions for existing power plants. The 6-3 ruling said that […]
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Bed Bath & Beyond names new chief accounting officer in latest executive change as sales plunge
Bed Bath & Beyond on Thursday named a new chief accounting officer, marking another leadership change as the retailer struggles with plunging sales. The company said Laura Crossen will take over as the senior vice president of finance and chief accounting officer, replacing John Barresi, who resigned earlier this month after stepping into the role […]
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Bath & Body Works can more than double after falling 60%, Piper Sandler says
It’s time to buy shares of Bath & Body Works , which is a “defensible growth story” that can more than double from here after its recent stock tumble, according to Piper Sandler. Analyst Korinne Wolfmeyer initiated coverage of Bath & Body Works with an overweight rating, saying in a note Thursday that the stock […]
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OPEC+ sticks with planned oil production hike as supply concerns weigh on energy markets
OPEC+ has been slowly returning the nearly 10 million barrels per day it agreed to pull from the market in April 2020. Mazen Mahdi | Afp | Getty Images A group of some of the world’s most powerful oil producers on Thursday agreed to stick to a planned output increase in August, defying calls to […]
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Fed’s preferred inflation measure rose 4.7% in May, around multi-decade highs
A customer counts his cash at the register while purchasing an item at a Best Buy store in Flushing, New York. Jessica Rinaldi | Reuters Inflation held at stubbornly high levels in May, though the monthly increased was slightly less than expected, according to a Commerce Department gauge closely watched by the Federal Reserve. Core […]
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Raymond James says it’s time to buy health care apparel stock Figs, which can surge 80%
Investors should load up on Figs shares, as the health care apparel name has already priced in much of the bad news around inflation, according to Raymond James. Analyst Rick B. Patel initiated coverage of Figs with a strong buy rating, saying note Wednesday that the company is better positioned to outperform in the second […]
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Stocks making the biggest moves premarket: Walgreens, Constellation Brands, RH and others
Check out the companies making headlines before the bell: Walgreens (WBA) – The drug store operator earned an adjusted 96 cents per share for its latest quarter, 4 cents above estimates, with revenue also beating analyst forecasts. Walgreens also reaffirmed its full-year guidance, forecasting low-single-digit adjusted earnings growth. The stock fell 2.7% in premarket action. […]
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