Stocks making the biggest moves midday: Gap, MongoDB, Dell Technologies and more
Check out the companies making headlines in midday trading: Dell Technologies — The software stock plunged 18% after executives cautioned that its gross margins could face more pressure in 2025. Lionsgate Studios — Shares rose 3% after Citi initiated coverage of the film studio at a buy rating. The bank cited Lionsgate’s decision to spin off its […]
Here’s why the minimum wage and some tax breaks don’t budge despite inflation
Many Americans are likely familiar with financial thresholds that are adjusted for inflation each year. They include contribution limits to 401(k) plans, cost-of-living adjustments for Social Security benefits and federal income tax brackets, to name a few. These tweaks help households keep pace with the rising cost of living. For example, without adjustments, more households would generally creep into higher tax […]
Bill Ackman selling stake in Pershing Square at $10.5 billion valuation, aiming for IPO one day
Billionaire investor Bill Ackman is selling a 10% stake in Pershing Square, aiming to eventually take his investment firm public. Ackman’s firm is raising $1.05 billion in a funding round, worth 10% of the management company and implying a valuation of $10.5 billion, according to a source familiar with the matter. Investors on the deal are institutional […]
Stocks making the biggest moves after hours: Dell Technologies, MongoDB, Zscaler, Gap and more
Check out the companies making headlines in extended trading. Zscaler — Shares surged nearly 15% after Zscaler topped third-quarter expectations on the top and bottom lines. The cloud security company posted adjusted quarterly earnings of 88 cents per share on revenue of $553 million. Analysts polled by LSEG had expected per-share earnings of 66 cents on […]
Your guide to Wall Street analyst research and how to use it like the investing pros
Wall Street sell-side research is a key part of the financial markets, written by analysts working for brokerage firms, investment banks and other institutions. These analysts evaluate companies and issue recommendations to help investors – mostly institutions – make informed decisions. Buy-side research (by money management firms) is another kettle of fish entirely, produced in-house […]
BlackRock-backed fintech Trustly says IPO still at least one year out even as profits jump 51%
The boss of Swedish financial technology startup Trustly says an initial public offering for the company is still a year or two away from happening, even after a 51% jump in operating profit. In an exclusive interview with CNBC, Johan Tjarnberg, CEO of Trustly, said that his firm still needs time to prove the value […]
37% of Americans paid a late fee in the last 12 months, report finds
Many consumers are finding it hard to keep up with their bills. To that point, 37% of Americans have been charged a late fee on a bill in the last 12 months, according to a new report by NerdWallet. Credit card late fees were the most common, with 21% of survey respondents incurring at least one. Others had been charged […]
Kohl’s stock plummets more than 20% after massive earnings miss
Kohl’s shares plummeted more than 20% Thursday after the company posted a surprise loss per share, coming in well below Wall Street’s expectations for a slight profit. That share slide made for the stock’s biggest single-day percentage decline ever. In an interview with CNBC, CEO Tom Kingsbury chalked up slower sales to tough comparisons. He said […]
Fed’s Williams says inflation is too high but will start coming down soon
NEW YORK — New York Federal Reserve President John Williams on Thursday said inflation is still too high, but he is confident it will start decelerating later this year. With markets on edge over the direction of monetary policy, Williams offered no clear indication of his position on possible interest rate cuts. Instead, he reiterated […]
Hiring stays strong for low earners, Vanguard finds
For lower-earning Americans, the pace of hiring remains strong, holding steady above its pre-pandemic baseline even as the demand for higher-income workers has waned slightly, according to new data from Vanguard. The hire rate for the bottom one-third of workers by income, those who earn less than $55,000 a year, was 1.5% in March, the rate […]