Markets
The price of a pint is going through the roof. Here’s why UK beer costs are far outpacing inflation
LONDON — The average cost of a pint of beer in the U.K. has soared by 70% since 2008 — well ahead of inflation — and some Londoners are parting with as much as £8 ($9.70) for 568ml of the amber nectar. According to figures from consultancy firm CGA, the average cost of a pint […]
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Stifel downgrades Twilio, slashes price target by 55%, citing weak outlook
There’s trouble ahead for Twilio after the communications software company issued weak guidance, according to Stifel. Analyst J. Parker Lane downgraded shares of Twilio to hold from buy, and slashed the target price by more than half, citing the company’s recent earnings report that came out Thursday. Twilio reported a revenue beat but offered up […]
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Hacked crypto startup Nomad offers a 10% bounty for return of funds after $190 million attack
Over $2 billion has been stolen from cross-chain bridges so far this year, according to crypto analysis firm Chainalysis Jakub Porzycki | Nurphoto via Getty Images Crypto company Nomad said it’s offering hackers a bounty of up to 10% to retrieve user funds after losing nearly $200 million in a devastating security exploit. Nomad pleaded […]
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Sunrun could surge 45% if lawmakers approve climate spending boost, Barclays says
Shares of residential solar installer company Sunrun could surge about 45% from here should an ambitious spending package pass, according to Barclays. Solar stocks got a boost last week following an announcement that Senate Majority Leader Chuck Schumer, D-N.Y., and Sen. Joe Manchin, D-W.V., reached a deal on the “Inflation Reduction Act of 2022.” The […]
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Taiwan’s trade with China is far bigger than its trade with the U.S.
Container trucks line up to enter the Port of Keelung in Keelung, Taiwan. Data show that Taiwan depends more on China for trade than it does on the U.S. Billy H.C. Kwok | Bloomberg | Getty Images BEIJING — Data show that Taiwan depends more on China for trade than it does on the U.S., […]
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Cramer’s lightning round: I like E.L.F Beauty over Coty
Ammo Inc: “I know it’s a little bit of a far field in terms of where you are versus what it is, but Dick’s is my favorite in that group.” Inmode Ltd: “It’s a good company, but the people hate the medical device companies. … I think they’re overly hated. That’s why I like [Johnson […]
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XPO Logistics’ Brad Jacobs discusses stepping down as CEO with Mario Harik to succeed him
XPO Logistics announced Thursday that Mario Harik will be taking over the role of chief executive from Brad Jacobs after the company’s spin-off of its high-tech truck brokerage business in the fiscal fourth quarter. Harik was also named president of XPO’s less-than-truckload business. He had served as acting president since last October. Jacobs will remain […]
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What this ‘play the recovery’ strategy says about the hot bond market’s future
A recent trend in the exchange-traded funds market suggests bond demand is far from cooling. Corporate, government and high-yield bond ETFs saw inflows last month after lower bond prices and higher yields contributed to the deceleration of fund outflows in May. Andrew McOrmond of WallachBeth Capital, an institutional execution service provider, believes the inflows can […]
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Jim Cramer says to consider buying these 8 stocks now that commodity prices are down
CNBC’s Jim Cramer on Thursday advised investors to take advantage of falling commodity prices by adding to their portfolios. “Oil’s down big, gasoline’s down big and you can now buy all sorts of stocks that benefit from cheaper fuel, especially the travel and leisure plays,” he said. The “Mad Money” host earlier this week criticized […]
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Virgin Galactic again delays space tourism flights, to second quarter 2023
Carrier aircraft VMS Eve takes off from Spaceport America in New Mexico, carrying spacecraft VSS Unity on July 11, 2021. Virgin Galactic Space tourism company Virgin Galactic on Thursday postponed the beginning of its commercial flights by another three months, citing delays in work refurbishing its carrier aircraft. Virgin Galactic announced that commercial service is […]
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