Business
Rent the Runway could get a big bump from 2022 ‘wedding boom,’ Jefferies says
A rebound in social events like weddings would help the apparel retailer, which saw the pandemic dampen consumer demand for designer wear. Source
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Covid upended the labor market, and now these workers are using their leverage to push for unions
Workers stand in line to cast ballots for a union election at Amazon’s JFK8 distribution center, in the Staten Island borough of New York City, U.S. March 25, 2022. Brendan Mcdermid | Reuters The Covid pandemic pushed Americans to reconsider how and where they work, resulting in a tight labor market, rising wages and what’s […]
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Biden’s budget proposes tax hike on married filers making more than $450,000
President Joe Biden introduces his budget request for fiscal year 2023 on March 28, 2022 in Washington. Anna Moneymaker | Getty Images President Joe Biden released his 2023 federal budget request on Monday, calling to hike the top marginal income tax rate to 39.6% from 37%, a proposal floated by the administration last year. The […]
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Meme stocks GameStop and AMC tumble Tuesday on heavy trading volume
A GameStop location in New York, Dec. 23, 2021. Scott Mlyn | CNBC Meme stocks tumbled on Tuesday with huge trading activity in the shares. GameStop dropped more than 9% with more than 6 million shares traded through 10:15 a.m. ET, already more than its 30-day average full-day volume of 4.6 million. AMC Entertainment shares […]
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GM looks to increase electric Hummer production as reservations top 65,000, exceeding expectations
GMC Hummer EV pickup truck Michael Wayland / CNBC PHOENIX – General Motors has received more than 65,000 reservations for its electric GMC Hummer pickups and SUVs, as the automaker attempts to expedite production of the vehicles to meet demand. The reservations number is higher than the automaker’s initial expectations, according to Duncan Aldred, global […]
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5 things to know before the stock market opens Tuesday
Here are the most important news, trends and analysis that investors need to start their trading day: 1. Stocks set to rise, with Dow, S&P 500 on winning streaks Traders on the floor of the NYSE, March 28, 2022. Source: NYSE U.S. stock futures pointed to a higher open Tuesday and a fourth straight session […]
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Fortinet shares could gain 17% from here as cyber threats mount, Barclays says
Fortinet could strong gains from here, as cyber attacks continue to rise around the world, according to Barclays. Source
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Morgan Stanley downgrades NortonLifeLock, sees ‘limited catalysts’ for the cybersecurity company
A regulatory probe into its deal with Avast, and higher inflation costs, add pressure to the cybersecurity stock. Source
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Deutsche Bank downgrades CVS as near- and medium-term risks mount
A recent crackdown on low-cost drug program 340B, and stiff competition for a lucrative drug contract from Centene, weighs on the stock. Source
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Morgan Stanley downgrades Pinterest, calls user engagement numbers ‘troubling’
Critically, U.S. time spent per user has tumbled to 2017 levels at the social media platform. Source
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