Finance
Stocks making the biggest moves premarket: Bowlero, UiPath, Broadcom and more
Check out the companies making headlines before the bell. Bowlero – Shares gained more than 12% after the bowling alley chain’s revenue for the fiscal fourth quarter revenue topped Wall Street’s expectations. Revenue for the period came in at $283.9 million. According to FactSet, analysts had expected $273.4 million. The higher end of the company’s […]
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China should focus on fighting deflationary pressure, former central bank governor says
Key Points China’s policymakers need to focus on boosting domestic demand, Yi Gang, former head of the People’s Bank of China, said Friday at the Bund Summit in Shanghai. Yi said he expected the consumer price index to “converge above zero by the end of the year.” “Central banks should avoid prolonged deflation even if […]
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7-Eleven’s parent company rejects takeover proposal, says offer ‘grossly undervalues’ company
Key Points The company said the proposal was “opportunistically timed and grossly undervalues our standalone path and the additional actionable avenues we see to realize and unlock shareholder value in the near- to medium-term.” Even if Couche-Tard increases its offer “very significantly,” Seven & i said the proposal does not consider the “multiple and significant […]
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Stocks making the biggest moves after hours: Broadcom, DocuSign, UiPath and more
Check out the companies making headlines in after-hours trading: DocuSign — The e-signature software company ticked up nearly 1% after posting a top- and bottom-line beat. DocuSign’s adjusted earnings of 97 cents per share for the second quarter exceeded analysts’ expectations of 80 cents per share, according to LSEG. DocuSign’s revenue of $736 million also […]
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JPMorgan top economist says the Fed should cut rates by a half point this month
Key Points JPMorgan’s top economist Michael Feroli believes the Federal Reserve should cut interest rates by a half point this month. Traders are pricing in a 39% chance that the Fed’s target range for the federal funds rate will be lowered by a half percentage point, per the CME FedWatch Tool. Feroli’s remarks come as […]
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How high earners can funnel money to a Roth IRA, the ‘gold standard’ of retirement accounts
Key Points Investors with high incomes may not be able to contribute to a Roth or make deductible contributions to a traditional individual retirement account. However, a strategy called the “backdoor Roth IRA” lets high earners access Roth accounts. Investors would make a nondeductible contribution to a traditional IRA, and then convert those funds to […]
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Stocks making the biggest moves midday: JetBlue, Hewlett Packard Enterprise, Tesla, G-III Apparel and more
Check out the companies making headlines in midday trading. JetBlue Airways — The New York-based airline popped more than 8% after hiking its forward guidance for third-quarter revenue. JetBlue now expects revenue to be in a range of down 2.5% to up 1% compared to the same period a year ago. Previously, a loss between […]
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Stocks making the biggest moves premarket: C3.ai, Tesla, JetBlue and more
Check out the companies making headlines in premarket trading. C3.ai — The technology stock tumbled 19.2% after on weaker-than-expected subscription revenue during the company’s fiscal first quarter. C3.ai posted $73.5 million for the top line, while analysts polled by FactSet had penciled in $79.2 million. Verizon , Frontier Communications — Verizon announced it will purchase […]
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Visa debuts a new product designed to protect consumers making bank transfers
Key Points Visa said it plans to launch a dedicated service for account-to-account (A2A) payments, skipping the traditional — and often inflexible — direct debit process. Visa said consumers will be able to monitor these payments more easily and raise any issues by clicking a button in their banking app. The product will initially launch […]
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Cramer names the No. 1 underappreciated megacap to buy in the recent tech stock sell-off
Microsoft’s generative artificial intelligence prospects are impressive. But the stock has more to offer investors than just the new tech. Jim Cramer said Microsoft shares could bottom Wednesday — and out of all the megacap tech stocks, this Club name is the one to buy. Microsoft closed at a record high of $467 on July […]
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