Economy
Stocks making the biggest moves midday: Micron, Kohl’s, Meta Platforms and more
Check out the companies making headlines in midday trading. Micron Technology – Shares of the chipmaker fell about 6% after the company issued disappointing fiscal fourth-quarter guidance and said weakening consumer demand will hurt smartphone sales. The warning pulled down other chip stocks, which were among the top decliners in the S&P 500. Western Digital and On […]
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Massive pile-up of cars, auto parts, Ikea exports bound for U.S. due to European port labor strife
Labor slowdowns and strikes at the German and Netherland ports are creating a massive pile-up of export containers bound for the U.S. that will take months to clear out. According to the bills of lading found through ImportGenius, some of the items that are exported out of these ports are critical components to the auto […]
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Ohio Governor DeWine says Intel delay on $20 billion chip plant is about ‘leverage’
Ohio Gov. Mike DeWine still has high hopes for Intel, even after the company announced that its plan for a massive semiconductor plant east of Columbus could see its scope scaled back or construction delayed. “I truly believe that this is the Midwest’s time. I believe it’s Ohio’s time,” DeWine, a Republican, said in an […]
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Stocks making the biggest moves premarket: Kohl’s, Micron, Apple and more
Check out the companies making headlines before the bell: Kohl’s (KSS) – Kohl’s tumbled 17.9% in premarket trading after the retailer confirmed an earlier CNBC report that it ended talks to be bought by Vitamin Shoppe parent Franchise Group (FRG). Kohl’s said the deteriorating retail and financial environment presented significant obstacles to concluding a deal. […]
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Priceline CEO: It’s a healthy travel economy at the moment
ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via Email Priceline CEO Brett Keller joins CNBC’s ‘Squawk Box’ to explain why higher air costs and hotel prices are not slowing down the summer travel surge. Source
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Forget the Eiffel Tower. Here’s where the French travel in France
International travelers may prioritize visits to the Eiffel Tower and the Louvre when they visit France. But French residents have other ideas. Border restrictions during the pandemic largely gave locals the chance to explore their country without foreign tourists, which in 2019 numbered some 90 million. The French did not squander the opportunity. More […]
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Stocks making the biggest moves midday: RH, Carnival, Universal Health Services and more
Interior Design area of the Restoration Hardware store in the Meatpacking District of New York. Source: RH Check out the companies making headlines in midday trading Thursday. RH — Shares of RH fell 10.6% after the high-end furniture chain slashed its full-year outlook and said consumer demand for its products could continue to soften in […]
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Natural gas drops 16%, posts worst month in more than three years
A liquid natural gas (LNG) tank. Artinun Prekmoung / Eyeem | Eyeem | Getty Images U.S. natural gas futures plunged below $6 per million British thermal units on Thursday, after an inventory report showed a larger-than-expected storage build, sparking fears of an oversupplied market. Henry Hub futures declined 16.53% to settle at $5.42 per million […]
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FTX closes in on a deal to buy embattled crypto lender BlockFi for $25 million in a fire sale
FTX is swooping in to buy crypto lender BlockFi for pennies on the dollar, sources told CNBC. The term sheet is almost over the finish line and expected to be signed by the end of the week, according to one source, who asked not to be named because the deal discussions were confidential. FTX will […]
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The market’s worst first half in 50 years has all come down to one thing
Traders on the floor of the NYSE, June 29, 2022. Source: NYSE A multitude of factors conspired to generate the stock market’s worst first-half since 1970, but they all emanated from one word: Inflation. The cost of living started the year running at levels the U.S. had not seen since the early 1980s. Worse, Federal […]
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