Business
Goldman Sachs downgrades Tyson Foods, says poultry stock’s trajectory is uncertain after latest earnings
Goldman Sachs’ enthusiasm on Tyson Foods has cooled. Analyst Adam Samuelson downgraded the food producer to neutral from buy after Tyson’s latest quarterly report showed significant underperformance across the company — particularly its chicken segment. The company reported earnings per share of 85 cents for its first fiscal quarter, falling far below a StreetAccount consensus estimate […]
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Bed Bath & Beyond lines up funding in a last-ditch bid to avoid bankruptcy
A Bed Bath & Beyond store in the Brooklyn borough of New York, US, on Monday, Feb. 6, 2023. Stephanie Keith | Bloomberg | Getty Images Bed Bath & Beyond will live to see another day – at least for now. The beleaguered home goods retailer is expecting to receive more than $1 billion in […]
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Hertz fourth-quarter profit beats as costs come down and travel rebounds
Rental car giant Hertz reported fourth-quarter earnings that were better than Wall Street expected, on renewed demand for travel as the Covid-19 pandemic eased in many parts of the world. The company also benefited from improved operating performance, CEO Stephen Scherr told CNBC, helping to boost earnings even as revenue came in roughly in line […]
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Credit Suisse upgrades Lockheed Martin, says earnings growth is poised to accelerate
Lockheed Martin can return to growth this year as the outlook for the defense sector strengthens, providing a “meaningful” opportunity for earnings to surprise to the upside, according to Credit Suisse. Analyst Scott Deuschle upgraded the arms company to outperform from underperform. Deuschle also raised his target price to $510 from $427, which implies shares […]
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Turkey’s President Erdogan declares 3-month state of emergency for quake-hit regions
Turkish President Recep Tayyip Erdogan speaks to press after 7.7 and 7.6 magnitude earthquakes hit southern provinces of Turkey, on February 07, 2023 in Ankara, Turkey. Mustafa Kamaci | Anadolu Agency | Getty Images Turkish President Recep Tayyip Erdogan declared a three-month state of emergency in 10 of the country’s provinces Tuesday. Turkey, and neighboring […]
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Why traffic can’t be solved with just adding more highway lanes
Traffic and congestion have been worsening in American cities for decades. The average American driver lost 51 hours and $869 in valued time by sitting in traffic in 2022, a 54% jump from the previous year, according to a report by INRIX, a global traffic tracker. In 2019, before the pandemic, traffic snarls cost the […]
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Goldman Sachs likes Pinterest even after Q4 revenue miss, says long-term catalysts still in place
Pinterest is still on track for gains despite posting mixed fourth-quarter results, according to Goldman Sachs . Analyst Eric Sheridan reiterated his buy rating on Pinterest after its earnings announcement on Monday. He noted that while Pinterest’s overall reported monthly active users missed estimates, it still managed to reach its highest level of engagement. The […]
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5 things to know before the stock market opens Tuesday
U.S. Federal Reserve Chair Jerome Powell addresses reporters after the Fed raised its target interest rate by a quarter of a percentage point, during a news conference at the Federal Reserve Building in Washington, U.S., February 1, 2023. Jonathan Ernst | Reuters Here are the most important news items that investors need to start their […]
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Charts suggest investors should brace themselves for declines in the S&P 500, Cramer says
CNBC’s Jim Cramer on Monday warned investors to brace for market turbulence ahead by consolidating their portfolios. “The charts, as interpreted by Carolyn Boroden, suggest that the incredible rally in the S&P 500 might be running out of steam,” he said, adding, “She’s not necessarily saying we’re headed for a brutal near-term decline, but you […]
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Cramer’s lightning round: Steel Dynamics is an excellent company
Nucor Corp: “I personally think that Nucor has moved up too much. … I have my eye on $160 to $165 and not before that.” C3.ai Inc: “This stock has run up as part of the almost meme-like interest in [artificial intelligence]. … Ring the register.” Jim Cramer’s Guide to Investing Click here to download Jim […]
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