business news
Cramer’s lightning round: I want to buy Flex
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United Airlines, pilots’ union to renegotiate contract after last deal faced opposition
United Airlines and its pilots’ union are going back to the negotiating table for a new contract, a setback for the carrier after it was the first to reach a tentative agreement since the pandemic started. The United branch of the Air Line Pilots Association acknowledged Wednesday that the current agreement “fell short” of some […]
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Truist initiates coverage of Tesla with a buy rating and $1,000 price target
Tesla has another bull in its corner. Truist Securities on Wednesday initiated coverage of the electric vehicle maker with a buy rating and price target of $1,000. That represents a more than 40% upside from where shares closed at $711.12 during Wednesday’s session. “We believe the company’s best days, in terms of volume production, product […]
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Stock futures slip after Wednesday’s session as Wall Street awaits bank earnings
Stock futures slipped Wednesday night as traders look ahead to earnings from major U.S. banks. Dow Jones Industrial Average futures shed 117 points, or 0.38%. S&P 500 and Nasdaq 100 futures were down 0.41% and 0.47%, respectively. Stocks slipped during Wednesday’s session after June inflation data came in hotter than expected, hitting its highest level […]
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Ritholtz’s Josh Brown says stocks are never down three years after a recession
Stocks could have further downside from here, but Ritholtz Wealth Management’s Josh Brown has some good news for investors: Markets are never down three years after a recession. “We studied every post-World War II recession, and the effects of the stock market before, during and after,” Brown said Wednesday on CNBC’s ” Closing Bell: Overtime […]
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Tesla AI leader Andrej Karpathy announces he’s leaving the company
A Tesla Model S car equipped with Autopilot David Paul Morris | Bloomberg | Getty Images Tesla AI and Autopilot leader Andrej Karpathy announced Wednesday that he’s no longer working for the electric vehicle maker. “It’s been a great pleasure to help Tesla towards its goals over the last 5 years and a difficult decision […]
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Americans are paying record-high prices for new vehicles
A sign advertises to purchase cars at a used car dealership in Arlington, Virginia, February 15, 2022. Saul Loeb | AFP | Getty Images DETROIT – If investors are looking for signs of a recession or weakening consumer spending, they can skip over new vehicle prices, which hit a new record in June. Fueled by […]
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Apparel prices remain high even as retailers use markdowns to clear excess inventory
A customer shops for shirts at an American Eagle Outfitters store in San Francisco. David Paul Morris | Bloomberg | Getty Images Excess inventory has racked up in many retailers’ warehouses and stores. But shoppers are still paying more as they refresh the closet. Apparel prices rose 0.8% in June compared to May, and 5.2% […]
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Casino CEOs say the industry isn’t yet seeing signs of recession, but is prepared for a pullback
Evan Savar and Nabu Reyes, both of Nevada, play blackjack with dealer Leah Prerost at the Red Rock Resort after the property opened for the first time since being closed on March 17 because of the coronavirus (COVID-19) pandemic, on June 4, 2020 in Las Vegas, Nevada. Ethan Miller | Getty Images Las Vegas has […]
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FDA authorizes Novavax Covid vaccine for adults as the first new shots in U.S. in more than a year
In this photo illustration the Food and Drug Administration (FDA) and Novavax logos are seen behind a medical syringe and vials. Pavlo Gonchar | LightRocket | Getty Images The Food and Drug Administration has authorized Novavax’s two-dose vaccine for adults ages 18 and over, the fourth Covid shot to get emergency approval in the U.S. […]
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