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shares of relx plc rel rose 155 to £2431 monday on what proved to be an allaround favorable trading session for the stock market with the ftse 100 index ukx rising 083 to 794760 relx plc closed 4300 pence below its 52week high £2474 which the company achieved on april 8 trading volume 17 m remained 20 million below its 50day average volume of 37 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

shares of texas instruments inc txn sank 073 to 16850 monday on what proved to be an allaround mixed trading session for the stock market with the dow jones industrial average djia rising 008 to 3222342 and the sp 500 index spx falling 039 to 400801 the stocks fall snapped a twoday winning streak texas instruments inc closed 3376 short of its 52week high 20226 which the company reached on october 25th despite its losses the stock outperformed some of its competitors monday as nvidia corp nvda fell 250 to 17264 intel corp intc fell 119 to 4308 and qualcomm inc qcom fell 076 to 13391true trading volume 36 m remained 22 million below its 50day average volume of 59 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

wall street is getting more optimistic about persuading workers to come back to the office employers in the financialservices industry expect 61 of staff to be back by the end of september up from 50 in march according to a survey by the partnership for new york city about 14 of finance workers have already made their way back the secondhighest occupancy among industries surveyed but still well behind real estate at 70

us stocks posted modest gains on tuesday climbing a day after the dow and sp 500 cemented a fourth day in a row of declines and stocks slumped to their lowest levels in about a month the dow jones industrial average djia rose about 92 points tuesday or 03 ending near 32850 the sp 500 index spx gained 01 and the nasdaq composite index comp closed virtually flat according to factset stocks struggled for direction earlier in the session after the bank of japan surprised global markets by loosening a cap on 10year government bond yields a potential sign of a shift away from its ultraloose monetary policies global bond yields jumped along with japanese government rates us stocks rallied modestly in afternoon trade with the sp 500 led higher by gains in the energy communication services and materials sectors

shares of rollins inc rol shed 010 to 4111 thursday on what proved to be an allaround favorable trading session for the stock market with the sp 500 index spx rising 062 to 429393 and the dow jones industrial average djia rising 050 to 3383361 this was the stocks second consecutive day of losses rollins inc closed 195 below its 52week high 4306 which the company reached on november 2nd the stock underperformed when compared to some of its competitors thursday as ecolab inc ecl rose 099 to 17698 editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

shares of canadian natural resources ltd cnq advanced 474 to c7862 friday in what proved to be an allaround favorable trading session for the canadian market with the sptsx composite index gsptse rising 203 to 2009981 the stocks rise snapped a fourday losing streak canadian natural resources ltd closed c956 below its 52week high c8818 which the company achieved on april 21st trading volume of 24 m shares remained below its 50day average volume of 69 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

monday marks the last chance for investors to receive the next dividend payout from mfs intermediate high inc cif the company announced on monday that it would pay shareholders a monthly dividend of 144 cents per share on tuesday mfs intermediate high inc will go exdividend meaning the stock will trade lower to reflect that payout in other words the stock will likely open 144 cents lower than it would have opened on any other day in order to be eligible to receive a companys dividend shareholders must own the stock prior to the exdividend date—in this case tuesday shareholders who own cif as of the end of mondays session are eligible to receive the 144 cents dividend payout for every share that they own according to the company this dividend will be paid out to shareholders on july 31 2023 investors will then be able to either reinvest those dividends back into the stock or use the payment in some other way to keep track of which companies are distributing dividends click here to visit our dividends calendar

a committee of major oil producers recommended wednesday to maintain the cartels current reduced output strategy as the global economic outlook remains uncertain and the war in ukraine drags on the 13 members of the organization of the petroleum exporting countries opec led by riyadh and their 10 allies led by moscow agreed last october to reduce output by two million barrels per day until the end of this year collectively known as opec the group said at the time the move the biggest cut since the height of the covid pandemic in 2020 was due to market considerations but the us denounced it as a concession to moscow oil prices spiked following russias invasion of ukraine in february 2022 in a virtual meeting on wednesday the groups joint ministerial monitoring committee jmmc reaffirmed their commitment to the strategy of a production cut the jmmc has no decisionmaking power but discusses market conditions and makes recommendations which are then formally discussed and decided at the organisations ministerial meetings analysts have been widely anticipating a continuation of the status quo craig erlam senior market analyst at trading platform oanda noting the uncertainty around the global economic outlook also likely clouding their forecasts for demand investors are eyeing an increase in demand after china the worlds largest importer of crude oil lifted its zero covid policy american west texas intermediate wti currently hovers around 80 a barrel and brent north sea crude around 85 far from their peaks of more than 130 dollars reached in march after russia invaded ukraine the next jmmc meeting is set for april 3 according to a statement from the group the groups next ministerial meeting is scheduled for june 4

shares of plug power inc plug sank 099 to 2612 tuesday on what proved to be an allaround mixed trading session for the stock market with the nasdaq composite index comp remaining mostly unchanged at 1238130 and the dow jones industrial average djia falling 047 to 3290959 this was the stocks sixth consecutive day of losses plug power inc closed 2038 below its 52week high 4650 which the company achieved on november 22nd the stock underperformed when compared to some of its competitors tuesday as ballard power systems inc bldp rose 137 to 738 methanex corp meoh rose 579 to 3944 and enviva inc eva fell 014 to 6990 trading volume 144 m remained 77 million below its 50day average volume of 220 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

shares of motorola solutions inc msi rose 155 to 23932 tuesday on what proved to be an allaround rough trading session for the stock market with the sp 500 index spx falling 024 to 435065 and dow jones industrial average djia falling 034 to 3437834 the stocks rise snapped a twoday losing streak motorola solutions inc closed 765 below its 52week high 24697 which the company reached on september 9th the stock outperformed some of its competitors tuesday as l3harris technologies inc lhx rose 074 to 23712 trading volume 602332 remained 73598 below its 50day average volume of 675930 editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

shares of paramount global cl b para dropped 036 to 1936 wednesday on what proved to be an allaround grim trading session for the stock market with the sp 500 index spx falling 061 to 399532 and dow jones industrial average djia falling 042 to 3396635 paramount global cl b closed 1985 below its 52week high 3921 which the company reached on march 28th despite its losses the stock outperformed some of its competitors wednesday as apple inc aapl fell 155 to 14321 amazoncom inc amzn fell 098

shares of centene corp cnc slid 112 to 6272 friday on what proved to be an allaround positive trading session for the stock market with the sp 500 index spx rising 130 to 420545 and the dow jones industrial average djia rising 100 to 3309334 this was the stocks seventh consecutive day of losses centene corp closed 3581 below its 52week high 9853 which the company reached on august 15th the stock underperformed when compared to some of its competitors friday as hca healthcare inc hca rose 012 to 26441 iqvia holdings inc iqv rose 100 to 19945 and laboratory corp of america holdings lh rose 105 to 21560 trading volume 32 m remained 254833 below its 50day average volume of 34 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

shares of american international group inc aig slipped 304 to 6124 monday on what proved to be an allaround rough trading session for the stock market with the sp 500 index spx falling 024 to 437394 and dow jones industrial average djia falling 049 to 3389260 american international group inc closed 230 short of its 52week high 6354 which the company reached on february 9th the stock demonstrated a mixed performance when compared to some of its competitors monday as prudential plc adr puk fell 562 to 3023 arch capital group ltd acgl fell 090 to 4711 and american financial group inc afg fell 123 to 13539 trading volume 75 m eclipsed its 50day average volume of 51 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

shares of marketaxess holdings inc mktx rallied 179 to 27643 thursday on what proved to be an allaround positive trading session for the stock market with the sp 500 index spx rising 062 to 429393 and the dow jones industrial average djia rising 050 to 3383361 this was the stocks second consecutive day of gains marketaxess holdings inc closed 12335 short of its 52week high 39978 which the company reached on april 4th the stock outperformed some of its competitors thursday as blackstone inc bx rose 156 to 8866 morgan stanley ms fell 022 to 8631 and charles schwab corp schw fell 108 to 5503 trading volume 330489 remained 14071 below its 50day average volume of 344560 editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

shares of hillenbrand inc hi rallied 138 to 4274 thursday on what proved to be an allaround favorable trading session for the stock market with the sp 500 index spx rising 099 to 399895 and the dow jones industrial average djia rising 051 to 3203690 this was the stocks third consecutive day of gains hillenbrand inc closed 1141 short of its 52week high 5415 which the company achieved on december 28th the stock outperformed some of its competitors thursday as flowserve corp fls rose 136 to 2984 service corp international sci rose 078 to 7213 and matthews international corp cl a matw fell 098 to 2742 trading volume 248204 remained 136603 below its 50day average volume of 384807 editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

shares of northern trust corp ntrs slipped 191 to 9359 tuesday on what proved to be an allaround grim trading session for the stock market with the sp 500 index spx falling 113 to 385593 and dow jones industrial average djia falling 101 to 3070623 northern trust corp closed 4156 short of its 52week high 13515 which the company achieved on january 13th the stock demonstrated a mixed performance when compared to some of its competitors tuesday as jpmorgan chase co jpm fell 197 to 11583 wells fargo co wfc fell 205 to 4341 and capital one financial corp cof fell 108 to 10137 trading volume 656812 remained 275479 below its 50day average volume of 932291 editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

retail sales in the uk increased in october but growth is likely to be shortlived as high inflation rapidly rising interest rates and weak consumer confidence weaken spending retail sales volumes rose 06 on month in october rebounding from a revised 15 fall in september data from the office for national statistics showed friday economists polled by the wall street journal expected retail sales to increase 07 all of the main sectors apart from food stores registered an increase in sales the ons said octobers rebound could partly be attributed to statistical quirks due to the reversal of the bank holiday effects seen in september when many business closed during the queen elizabeth iis funeral uk consumer spending is expected to struggle in the coming months amid a continued squeeze to households incomes from high inflation and weak confidence economists say

china will increase affordablehousing construction and support the commercial realestate market to better meet reasonable demand of home buyers the ruling communist partys top decisionmaking body said monday in a meeting chaired by chinese president xi jinping the politburo said it would boost the healthy development and a positive cycle of the nations realestate sector according to the staterun xinhua news agency the meeting didnt offer further details of the property policy that has been in the spotlight for the market after the chinese authorities announced it last week in a bid to help the indebted china evergrande group deal with its crisis the politburo meeting also dropped the mention of its rhetorichousing is for living in not speculationwhich was used by president xi and later repeated by government bodies at all levels to show the governments stance regarding the property sector the meeting indicates the government may loosen policies in the property sector zhiwei zhang an economist at pinpoint asset management said in a note monday some analysts have recently anticipated beijing will shift its policy to be more supportive for economic growth as the property slump and covid19 resurgence exerted more pressure on the nations growth chinas central bank said monday that it would lower banks reserve requirement ratio by 05 percentage point releasing 12 trillion yuan 1883 billion of liquidity to the financial sector the politburo said in mondays meeting that the government would keep the economy running at a reasonable pace next year to welcome the holding of the partys congress the meeting also said to expand effective investment and help consumption continue to recover in 2022

shares of interpublic group of cos ipg slipped 240 to 3749 wednesday on what proved to be an allaround poor trading session for the stock market with the sp 500 index spx falling 001 to 415452 and dow jones industrial average djia falling 023 to 3389701 interpublic group of cos closed 203 short of its 52week high 3952 which the company achieved on february 3rd the stock demonstrated a mixed performance when compared to some of its competitors wednesday as trade desk inc cl a ttd fell 082 to 6161 and gartner inc it fell 331 to 30724 editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

tokyo stocks opened lower thursday after wall street eased overnight ahead of us inflation data the benchmark nikkei 225 index inched down 004 percent or 1039 points to 2638644 while the broader topix index slipped 021 percent or 395 points to 186505

morgan stanley goldman sachs wells fargo and bank of america said they would raise their dividends after the federal reserve gave the banks a clean bill of health in its annual stress test saying they could withstand a severe economic recession goldman sachs ticker gs said it would increase its dividend to 250 a share from 2 “we will continue to dynamically manage capital and remain well positioned to support our clients” chief executive david solomon said in a regulatory filing on monday

shares of williams cos wmb dropped 003 to 2985 monday on what proved to be an allaround positive trading session for the stock market with the sp 500 index spx rising 037 to 412451 and the dow jones industrial average djia rising 098 to 3360115 the stocks fall snapped a threeday winning streak williams cos closed 812 short of its 52week high 3797 which the company achieved on june 3rd editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

a tug boat is seen docking at tanjung priok port in jakarta indonesia january 11 2021 picture taken january 11 2021 reuterswilly kurniawan jakarta jan 17 reuters indonesias trade surplus narrowed more than expected in december to 102 billion the lowest in 20 months as a surge in exports driven by commodities slowedand imports hit a record high official data showed on monday southeast asias largest economy has been reporting a trade surplus every month since may 2020 as the coronavirus pandemic supressed local demand while exports rode a boom in prices of commodities like coal palm oil copper tin steel and rubber the december surplus was about a third of the 313 billion forecast by economists polled by reuters and was also much smaller than the 351 billion recorded in november december imports hit a record high of 2136 billion up 4793 on a yearly basis and beating the polls forecast for 3940 growth as overseas purchases of everything from consumer goods to raw materials for the manufacturing industry jumped this shows that economic activity is improving including consumption margo yuwono the head of statistics indonesia told a news conference meanwhile export growth was 3530 on a yearly basis compared with the polls expectation of 4040 growth with shipments of coal to china slowing as beijing ramped up domestic output of the fuel the resourcerich countrys total shipments in december were worth 2238 billion the second highest on record for monthly data after novembers 2284 billion economists have warned that a ban on coal exports implemented since jan 1 to avoid widespread domestic power outages could shift indonesias trade balance to a deficit coal exports make up about 14 of indonesias overall exports the ban has been eased for big miners that have met domestic sales requirements but is still affecting smaller miners whose output accounts for up to 40 of indonesias total for the whole of 2021 indonesias exports reached a record high of 23154 billion while imports totalled 1962 billion the 2021 trade surplus of 3534 billion was the biggest since 2007 reporting by gayatri suroyo and fransiska nangoy editing by martin petty and ed davies

shares of stryker corp syk shed 008 to 29757 wednesday on what proved to be an allaround grim trading session for the stock market with the sp 500 index spx falling 052 to 436569 and dow jones industrial average djia falling 030 to 3395152 stryker corp closed 899 below its 52week high 30656 which the company achieved on april 21st despite its losses the stock outperformed some of its competitors wednesday as medtronic plc mdt fell 070 to 8832 intuitive surgical inc isrg fell 125 to 32374 and edwards lifesciences corp ew fell 089 to 9109 editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

tempur sealy international inc’s tpx stock fell 51 before market open thursday after the mattress company’s fourthquarter sales came in below wall street’s estimates the company posted net income of 1017 million or 57 cents a share down from 1758 million or 88 cents a share in the yearearlier period adjusted pershare earnings came to 54 cents above the factset consensus of 52 cents a share revenue fell to 1187 billion from 1360 billion a year ago below the 1220 billion factset consensus “although the robust market we experienced in 2021 represented a challenging comparison for 2022 we outperformed the global bedding market expanding our leading position in the global industry” said tempur sealy ceo scott thompson in a statement for the full year 2023 tempur sealy expects adjusted earnings per share between 260 and 280 reflecting the company’s current sales outlook for mid single digit yearoveryear growth analysts surveyed by factset are looking for earnings of 276 for the full year 2023

shares of nasdaq inc ndaq inched 052 higher to 18719 thursday on what proved to be an allaround great trading session for the stock market with the sp 500 index spx rising 141 to 419912 and the dow jones industrial average djia rising 098 to 3329178 this was the stocks second consecutive day of gains nasdaq inc closed 2777 below its 52week high 21496 which the company achieved on november 5th the stock demonstrated a mixed performance when compared to some of its competitors thursday as hong kong exchanges clearing ltd adr hkxcy rose 211 to 4212 cme group inc cl a cme rose 012 to 19913 and deutsche boerse ag adr dboey rose 082 to 1715 trading volume 330897 remained 535683 below its 50day average volume of 866580 editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

short sellers taking aim at regional bank stocks are seeing windfall profits of 353 billion in march in the month to date and of more than 229 billion in the last three days of trading according to data analytics company s3 partners research which tracks short selling data that’s at least on paper based on their marktomarket positions it comes after the collapse of three banks in the last week silicon valley bank sivb signature bank sbny and silvergate capital which have sent the spdr sp regional banking sector etfkre down 23 from march 8 through march 13 both silicon valley bank parent svb financial

nov 30 reuters the ftse 100 rose on wednesday helped by consumer discretionary and energy stocks though investors were cautious ahead of us federal reserve chairs speech later in the day the bluechip ftse 100 ftse gained 03 by 0821 gmt and was on track for its best month in two years consumer discretionary shares like flutter entertainment fltrfl gained 21 after jp morgan raised the companys price target energy stocks ftnmx601010 took an early lead gaining 02 as crude oil prices climbed on falling us crude inventories and a weaker greenback a dip in the us dollar turns commodities cheaper for foreign currency holders all eyes were on fed chair jerome powells speech on the economic outlook and the labour market at a brookings institution event later in the day where investors looked for clues about the central banks future monetary policy path among single stocks home reit plc homehl gained 75 after the housing provider for the homeless said it was financially sound dismissing allegations about its finances raised by a shortseller reporting by shashwat chauhan in bengaluru editing by dhanya ann thoppil

shares of unitedhealth group inc unh slid 123 to 48957 friday on what proved to be an allaround positive trading session for the stock market with the sp 500 index spx rising 040 to 399909 and the dow jones industrial average djia rising 033 to 3430261 the stocks fall snapped a twoday winning streak unitedhealth group inc closed 6853 short of its 52week high 55810 which the company reached on october 31st the stock underperformed when compared to some of its competitors friday as cvs health corp cvs rose 083 to 8992 elevance health inc elv rose 124 to 48300 and cigna corp ci rose 129 to 31421 trading volume 54 m eclipsed its 50day average volume of 33 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

shares of molson coors beverage co cl b tap advanced 101 to 5606 monday on what proved to be an allaround poor trading session for the stock market with the sp 500 index spx falling 115 to 385443 and dow jones industrial average djia falling 052 to 3117384 this was the stocks second consecutive day of gains molson coors beverage co cl b closed 169 short of its 52week high 5775 which the company reached on june 28th the stock outperformed some of its competitors monday as anheuserbusch inbev sa adr bud fell 133 to 5478 constellation brands inc cl b stzb remained unchanged and kirin holdings co ltd adr knbwy rose 019 to 1614 trading volume 15 m remained 72261 below its 50day average volume of 16 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

even though most adults today have lived all their lives within the floating fiat monetary system that emerged accidentally in august 1971 many today still probably find it rather strange that we spend so much time talking about the federal reserve’s current everchanging policy of macroeconomic manipulation and that we actually allow this committee of mediocrities so much influence on our lives and wellbeing this is not how we did things for most of us history before 1971 we had a very simple policy the value of the dollar would be linked to gold specifically at 35oz the gold parity that franklin roosevelt defined in 193334 before 1933 the dollargold parity was 2067oz this had been our basic policy since 1789 it is actually in the constitution in article i section 10 and it helped the united states become the wealthiest country the world had ever seen some people think that even despite many technological advances the us middle class has still never had it better than it did in the mid1960s when the dollar was “as good as gold” it wasn’t just the united states germany japan britain france mexico and even the soviet union and communist china also linked their currencies to gold in the 1960s as long as the united states and all the other countries stuck to this principle there never was a problem with “inflation” today it takes about 1800 dollars to buy an ounce of gold not 35 as was the case during the kennedy administration the us dollar today is worth about 150th of its prior value compared to gold i call it “the two cent dollar” just as it takes more dollars to buy an ounce of gold it now takes more dollars to buy everything else too this is the monetary sort of “inflation” which has become chronic however during all this time from 1971 to the present nobody was ever in favor of currency depreciation and “inflation” during the 1970s the 1980s the 1990s and continuing to today everybody said the opposite there seemed to be a lot of consensus about that it just happened anyway what happened was the federal reserve became politicized people noticed that central banks could meaningfully affect the economy this seemed like a wonderful solution it didn’t seem to have any cost it could bypass the slow laborious and contentious legislative process it could act quickly in response to economic developments it could get you elected or reelected richard nixon in his close presidential race with john f kennedy in 1960 blamed his loss in part on the federal reserve’s high interest rate policy and a recession in 1960 with an election coming up in 1972 nixon did not intend to repeat his error declaring that he was “now a keynesian in macroeconomics” nixon leaned heavily on the federal reserve to resolve the 19691970 recession with “easy money” congress’ new interest in macroeconomic manipulation was codified in the employment act of 1946 it said that it was the “continuing policy and responsibility” of the federal government to “coordinate and utilize all its plans functions and resources to promote maximum employment production and purchasing power” basically this is “growth” or unemployment and “inflation” or purchasing power known as the dual mandate wikipedia notes that there is actually a third element in the federal reserve’s mandate which is to maintain low interest rates the federal reserve was very busy with managing interest rates directly in 1946 under instruction from the treasury although the employment act of 1946 was directed at the federal government as a whole including for example keynesian “stimulus” spending it was also adopted by the federal reserve this came into direct conflict with the federal reserve’s policy of maintaining the value of the dollar at 35oz of gold which resulted in the final blowup in 1971 the federal reserve act was amended in 1977 to impose the dual mandate upon the central bank directly it required the federal open market committee fomc to “promote effectively the goals of maximum employment stable prices and moderate longterm interest rates” in 1978 the full employment and balanced growth act was passed also known as the humphreyhawkins full employment act this required the federal reserve to deliver a monetary policy report to congress twice a year thus we today have the federal reserve “dual mandate” it is explicitly a program of macroeconomic manipulation its goals seem benign a healthy economy low “inflation” and low interest rates but the result has been a program of constant macroeconomic distortion ultimately resulting in a currency whose value is it seems only about a fiftieth of what it was when we started this nonsense it would seem that the “dual mandate” is a terrible way to manage a currency it has led to a huge amount of ongoing “monetary inflation” declining currency value while not obviously improving economic outcomes we still haven’t had a decade as good as that of the 1960s when the dollar’s value was still stabilized by linking it to gold even the best decade since 1971 the 1990s was according to leading keynesians of the time pretty weak tea compared to the 1960s rather i see the dual mandate as a pretty good description of the political pressures on politicians which are then translated into pressures on the federal reserve in an intensely politicized process of monetary policy when we sweep away all the economic jargon we see that the federal reserve careens between a “fix the economy” focus and a “fix inflation” focus the outcome of this has been more inflation and a worse economy that’s why gold has always been the best basis of a currency you just keep the value of the currency stable vs gold that’s the whole thing you can have small adjustments within this context as the bank of england had in the latter 19th century it doesn’t change it is not political a currency then becomes an unchanging neutral constant of commerce like a meter or a kilogram the meter doesn’t change in length the dollar doesn’t change in value this makes business a lot easier we don’t have to adjust constantly to the federal reserve’s latest whims and the distortions they cause we just do business this is actually the way most countries today operate they had independent floating currencies in the past influenced by their local politics it didn’t go very well for them either they abandoned this and adopted a simple external standard of value typically the usd or euro thus depoliticizing their domestic monetary policy this includes all the countries of europe just look at the currencies of italy greece spain or portugal before the euro pretty ugly the emerging market currencies were even worse today the imf explicitly bans member countries from linking their currencies to gold but today some countries russia and china prominent among them are thinking that maybe they can do without the imf and its various demands gold was money in russia for many centuries and it worked there too china was on the gold standard during the han dynasty 202 bc to 220 ad and also in 1970 depoliticizing money will mean abandoning the dual mandate good riddance

shares of darden restaurants inc dri dropped 042 to 14828 thursday on what proved to be an allaround favorable trading session for the stock market with the sp 500 index spx rising 053 to 401232 and the dow jones industrial average djia rising 033 to 3315391 the stocks fall snapped a threeday winning streak darden restaurants inc closed 380 below its 52week high 15208 which the company reached on january 11th despite its losses the stock outperformed some of its competitors thursday as mcdonalds corp mcd fell 069 to 26678 starbucks corp sbux fell 120 to 10351 and chipotle mexican grill inc cmg fell 193 to 152249true trading volume 11 m remained 79064 below its 50day average volume of 12 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

shares of alexandria real estate equities inc are slipped 175 to 11748 monday on what proved to be an allaround favorable trading session for the stock market with the sp 500 index spx rising 039 to 452279 and the dow jones industrial average djia rising 022 to 3458535 alexandria real estate equities inc closed 5517 short of its 52week high 17265 which the company achieved on february 2nd the stock underperformed when compared to some of its competitors monday as boston properties inc bxp fell 089 to 6091 healthpeak properties inc peak fell 107 to 2117 and medical properties trust inc mpw rose 010 to 985 trading volume 632346 remained 361805 below its 50day average volume of 994151 editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

wall street banks including goldman sachs group inc and jpmorgan chase co are facing calls from shareholders to take faster action to address their role in financing climate change the sierra club foundation and trillium asset management are part of a group that filed nine resolutions with six banks requesting that they ensure their financing doesn’t add to new fossilfuel supplies as required by the international energy agency’s socalled 2050 scenario

americas carmart reported shrinking earnings in its fiscal fourth quarter despite a 122 rise in sales as margins fell and customers had a harder time making payments sending shares lower in premarket trading shares were recently down 239 at 68 each in premarket trading the auto dealership operator posted a profit of 21 million or 32 cents a share down from 264 million or 397 a share in the same quarter a year ago earnings were 32 cents a share compared with 397 a share in the yearago quarter analysts polled by factset had been expecting 91 cents a share quarterly revenue rose to 3883 million from 3462 million last year topping analyst forecasts for 3529 million according to factset chief executive jeff williams said ongoing disruption in the used car market has made it more difficult to buy quality vehicles at affordable prices our customers face higher living costs due to persistent inflation higher interest rates and higher fuel and rent expenses the ceo said in response to these challenges we have had to extend our contract terms to keep payments affordable however we still face less favorable customer payment behavior and lower gross profit margin

robert breighner jr vice president at select medical hldgs sem reported a large insider buy on may 2 according to a new sec filing what happened a form 4 filing from the us securities and exchange commission on tuesday showed that jr purchased 7000 shares of select medical hldgs the total transaction amounted to 205030 select medical hldgs shares are trading down 009 at 2927 at the time of this writing on wednesday morning now trade stocks online commission free with charles schwab a trusted and complete investment firm insider transactions shouldnt be used primarily to make an investing decision however an insider transaction can be an important factor in the investing decision in legal terms an insider refers to any shareholder who owns at least 10 of a company this can include executives in the csuite and large hedge funds these insiders are required to let the public know of their transactions via a form 4 filing which must be filed within two business days of the transaction when a company insider makes a new purchase that is an indication that they expect the stock to rise insider sells on the other hand can be made for a variety of reasons and may not necessarily mean that the seller thinks the stock will go down investors prefer focusing on transactions that take place in the open market indicated in table i of the form 4 filing a p in box 3 indicates a purchase while s indicates a sale transaction code c indicates the conversion of an option and transaction code a indicates the insider may have been forced to sell shares in order to receive compensation that had been promised upon being hired by the company check out the full list of select medical hldgss insider trades this article was generated by benzingas automated content engine and reviewed by an editor

mallorie burak president cfo at knightscope kscp reported a large acquisition of company stock options on august 2 according to a new sec filing what happened a form 4 filing from the us securities and exchange commission on wednesday showed that burak president cfo at knightscope a company in the industrials sector was just awarded stock options worth 143724 shares of kscp the options give burak the right to buy the companys stock at 151 per share knightscope shares are trading up 21 at 146 at the time of this writing on wednesday morning since the current price is 146 this makes buraks 143724 shares worth 209837 now trade stocks online commission free with charles schwab a trusted and complete investment firm insider transactions shouldnt be used primarily to make an investing decision however an insider transaction can be an important factor in the investing decision in legal terms an insider refers to any shareholder who owns at least 10 of a company this can include executives in the csuite and large hedge funds these insiders are required to let the public know of their transactions via a form 4 filing which must be filed within two business days of the transaction when a company insider makes a new purchase that is an indication that they expect the stock to rise insider sells on the other hand can be made for a variety of reasons and may not necessarily mean that the seller thinks the stock will go down investors prefer focusing on transactions that take place in the open market indicated in table i of the form 4 filing a p in box 3 indicates a purchase while s indicates a sale transaction code c indicates the conversion of an option and transaction code a indicates the insider may have been forced to sell shares in order to receive compensation that had been promised upon being hired by the company check out the full list of knightscopes insider trades this article was generated by benzingas automated content engine and reviewed by an editor

dolby labs inc dlb shares fell more than 8 in the extended session thursday after the audio company reported fiscal fourthquarter earnings and sales below expectations and guided for lower earnings in the current quarter dolby earned 278 million or 28 cents a share compared with 442 million or 42 cents a share in the yearago period adjusted for onetime items dolby earned 54 cents a share revenue fell to 278 million from 285 million a year ago analysts polled by factset expected dolby to earn 41 cents a share on sales of 305 million dolby guided for fiscal firstquarter revenue between 300 million and 330 million and gaap eps between 46 cents and 61 cents the analysts surveyed by factset expect earnings of 80 cents a share on sales of 366 million in the quarter for fiscal 2023 dolby said it expects revenue to grow by low single digits yearonyear shares of dolby ended the regular trading day down 05

shares of southern co so sank 015 to 7148 thursday on what proved to be an allaround positive trading session for the stock market with the sp 500 index spx rising 085 to 451004 and the dow jones industrial average djia rising 014 to 3439514 southern co closed 909 short of its 52week high 8057 which the company achieved on august 19th the stock underperformed when compared to some of its competitors thursday as nextera energy inc nee rose 033 to 7371 dominion energy inc d rose 066 to 5304 and american electric power co inc aep rose 005 to 8728 trading volume 41 m remained 122778 below its 50day average volume of 42 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

shares of howmet aerospace inc hwm rallied 180 to 3279 friday on what proved to be an allaround favorable trading session for the stock market with the sp 500 index spx rising 088 to 450937 and the dow jones industrial average djia rising 069 to 3545580 howmet aerospace inc closed 324 below its 52week high 3603 which the company achieved on june 8th the stock demonstrated a mixed performance when compared to some of its competitors friday as corning inc glw rose 139 to 4075 nordson corp ndsn rose 045 to 23354 and curtisswright corp cw rose 293 to 12306 trading volume 21 m remained 667852 below its 50day average volume of 27 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

shares of paypal holdings inc pypl slid 151 to 6404 wednesday on what proved to be an allaround mixed trading session for the stock market with the dow jones industrial average djia rising 027 to 3366502 and the sp 500 index spx falling 038 to 426752 paypal holdings inc closed 3899 short of its 52week high 10303 which the company achieved on august 16th the stock demonstrated a mixed performance when compared to some of its competitors wednesday as apple inc aapl fell 078 to 17782 alphabet inc cl c goog fell 389 to 12294 and alphabet inc cl a googl fell 378 to 12250 trading volume 153 m remained 298383 below its 50day average volume of 156 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

shares of conocophillips cop advanced 146 to 10832 thursday on what proved to be an allaround favorable trading session for the stock market with the sp 500 index spx rising 066 to 400618 and the dow jones industrial average djia rising 061 to 3177452 the stocks rise snapped a twoday losing streak conocophillips closed 1576 short of its 52week high 12408 which the company achieved on june 8th the stock outperformed some of its competitors thursday as exxon mobil corp xom rose 082 to 9491 chevron corp cvx rose 054 to 15595 and petrochina co ltd adr ptr fell 051 to 4685 trading volume 71 m eclipsed its 50day average volume of 69 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

shares of adobe inc adbe inched 083 higher to 51131 tuesday on what proved to be an allaround positive trading session for the stock market with the sp 500 index spx rising 084 to 452154 and the dow jones industrial average djia rising 106 to 3546278 adobe inc closed 18823 short of its 52week high 69954 which the company achieved on november 22nd the stock demonstrated a mixed performance when compared to some of its competitors tuesday as microsoft corp msft rose 120 to 30456 salesforcecom inc crm rose 021 to 21743 and sap se adr sap fell 095 to 12569 trading volume 29 m remained 955594 below its 50day average volume of 38 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

shares of willis towers watson plc wtw advanced 148 to 23238 friday on what proved to be an allaround positive trading session for the stock market with the sp 500 index spx rising 144 to 410931 and the dow jones industrial average djia rising 126 to 3327415 willis towers watson plc closed 2655 below its 52week high 25893 which the company achieved on february 9th the stock outperformed some of its competitors friday as accenture plc cl a acn rose 111 to 28581 marsh mclennan cos mmc rose 101 to 16655 and aon plc aon rose 073 to 31529 trading volume 576351 eclipsed its 50day average volume of 558065 editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

this is looking like a good year to explore those thanksgiving turkey alternatives you’ve always meant to try that’s assuming the realworld accuracy of this chart from bank of america showing surging prices of turkeys ahead of the us holiday as the food industry struggles with supply and labor issues that have helped drive the us’s annual inflation to a 31year highs according to data released wednesday

david einhorns greenlight capital was up 44 for the first quarter outperforming the sp 500s 46 return the funds management noted that a lot happened during the quarter culminating in an unexpected bout of violence is the fed doing what it takes in his firstquarter letter to investors einhorn says that he sees a decent risk that the 13year bull market and the longrunning period of relative peace and stability throughout the american sphere of influence since the end of world war ii are over he pointed to the oftrepeated sentiment that covid accelerated trends and changes already underway adding that he believes the same is true of the war einhorn notes that the war has accelerated inflation the ongoing supply chain issues and energy food materials and labor shortages and that stock prices had already started to fall as well he sees evidence that inflation is destroying demand slowing the economy in the process einhorn adds that if the federal reserve were serious about halting inflation it would be as aggressive and creative in tightening as it was when it was easing he also questions whether the fed is doing whatever it takes to deal with inflation or is merely talking tough emphasizing that he thinks the central bank is doing the latter greenlights long portfolio lost 7 during the first quarter but gains in its short book and index hedges almost totally offset that loss the fund reports that macro led by inflation swaps and gold generated a little more than all the return he segmented the funds long portfolio attribution into green brick partners which plunged sharply and contributed much more than all the loss and pretty much everything else which did quite well greenlights biggest winners were rheinmetall teck resources and consol energy russias invasion of ukraine sent rheinmetall soaring during the first quarter teck and consol both surged after sharp increases in metallurgical and thermal coal prices einhorn believes that even though there wasnt anything wrong with green bricks corporate performance its stock plunged from about 30 to around 20 during the first quarter analysts slashed their estimates for this year and next by about 2 although einhorn says that the problem was with the entire sector as most homebuilders plunged by similar percentages he explained that homebuilding stocks derated amid a new consensus view of a collapsing housing market analysts circulated the narrative that house prices have risen and noted that mortgage rates are rising theyre also saying that sales and housing starts are slowing and inventories and cancellations are rising david explains that this narrative supposedly implies a collapse in house prices leaving homebuilders in a precarious position he noted that everyone remembers when the last housing bubble popped and that the market appears to be suggesting that its about to happen again meaning the sector is now uninvestable at any valuation however the greenlight team disagrees with the new consensus view and einhorn describes the comparisons between todays housing market and that of 2006 as strained why greenlight thinks the market is wrong about homebuilding stocks overbuilding was widespread in 2006 with an average of 35 million existing homes for sale and the 30year mortgage rate averaged 64 homebuilders were also highly leveraged and homes were financed with very loose underwriting standards todays market comes amid a nationwide underinvestment in housing which has resulted in a shortage of about 2 million units only about 870000 existing homes are for sale and mortgage rates sit at around 5 underwriting standards are tight amid minimal speculation and low financial leverage among homebuilders in green bricks largest market existing homes for sale have declined 21 over the last year and are down 77 versus three years ago most of the indicators the bears are pointing to as evidence of a housing slowdown dont actually reflect a traditional slowdown instead he said they reflect the industrys inability to build houses due to factors like labor and material shortages which have lengthened construction times mortgage rates might at some point impact demand but for now homebuilders are constrained more by supply than demand further any slight decrease in demand probably wont pose a serious risk to earnings or balance sheets house prices arent the only prices that are rising as rents are up too additionally homebuilding stocks and home prices did well during the inflationary period in the midtolate 1970s greenlights short portfolio posted broadbased returns for the first quarter led by plunging prices in its basket of bubble stocks and a significant decline in the price of a medical device company that posted disappointing earnings results in midjanuary einhorn adjusted the funds positioning to reflect better his view of the weakening economy and the possibility of the end of the bull market the greenlight team added more index hedges and increased their macro positions in corporate credit default swaps and inflation swaps they focused their research efforts on short ideas so they didnt make any large additions to the funds long portfolio however they did add new small positions in international seaways ryanair holdings td synnex corporation southwestern energy and weatherford international greenlight also exited its long position in echostar during the first quarter after holding it for a year with a 22 investment rate of return fund management started to worry about the companys ability to grow its subscribers greenlight also dumped jack in the box after nearly two years with a 55 investment rate of return at the end of the first quarter the funds largest disclosed long positions were brighthouse financial change healthcare global payments green brick partners and tech resources international seaways owns and operates oil tankers and product carriers the greenlight team noted that demand for oil tumbled during the pandemic resulting in an extended period of low charter rates for tankers the fund acquired its shares at less than 60 of the companys liquidation value greenlight expects a tighter market now that demand has recovered to prepandemic levels with no shipyard slots available for the construction of new tankers for several years amid the tighter market they expect international seaways discount to its net asset value to close ryanair is the largest lowprice airline in europe it expanded during the pandemic by upgrading and improving the fuel efficiency of its fleet and reducing its airport costs ryanair has secured a competitive advantage by hedging nearterm fuel prices so the hedge fund expects its earnings to beat expectations as demand for air travel continues to recover the greenlight team reinitiated a position in td synnex as they believe its recent merger with tech data has created the top global it distributor with the potential for a sizable accretion to earnings per share through cost and revenue synergies the firm held its first analyst day since the transaction closed and management laid out a path einhorns team expects to achieve 20 per share in earnings in the coming years southwestern energy is the secondlargest natural gas producer in the us and the greenlight team feels it is wellsituated to satisfy growing domestic and export demand they explained that europe now plans to cut back on its reliance on russian energy and depend more on ln g from the us with southwestern being a key beneficiary weatherford offers drilling tools and other products and services needed to produce oil and gas the company filed for bankruptcy in 2019 due to poor execution and a high debt load but the greenlight team believes it has emerged as a less levered better managed and cashflow generating business they expect weatherford to benefit from the many years of underinvestment in exploration and production which have resulted in severe oil shortages greenlight also expects the company to benefit from the significant increase in capital expenditures on exploration and production thats underway

shares of alliant energy corp lnt slid 128 to 5263 friday on what proved to be an allaround poor trading session for the stock market with the sp 500 index spx falling 029 to 439895 and dow jones industrial average djia falling 055 to 3373488 this was the stocks second consecutive day of losses alliant energy corp closed 1199 below its 52week high 6462 which the company reached on august 18th the stock underperformed when compared to some of its competitors friday as duke energy corp duk fell 087 to 8977 exelon corp exc fell 024 to 4096 and sempra sre fell 006 to 14413 editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

shares of nutrien ltd ntr inched 091 higher to c10162 tuesday in what proved to be an otherwise allaround poor trading session for the canadian market with the sptsx composite index gsptse falling 128 to 2025264 nutrien ltd closed c4631 below its 52week high c14793 which the company achieved on april 18th trading volume of 14 m shares eclipsed its 50day average volume of 14 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

teva pharmaceutical industries ltds q1 sales reached 366 billion flat yy slightly beating the consensus of 363 billion in local currency terms revenues increased by 4 the adjusted gross profit margin was 491 in q1 compared to 542 a year ago mainly driven by rising costs due to inflationary and other macroeconomic pressures an increase in revenues with lower profitability from anda in the north america segment lower revenues from copaxone and bendeka and treanda and an unfavorable impact of hedging activities while we are seeing some positive tailwinds we are also taking decisive actions to address some headwinds mainly through improved portfolio mix driven by our innovative products and supply chain enhancements said ceo richard francis we expect these actions will improve our gross profit margin in the coming quarters adjusted eps of 040 came below the wall street estimate of 056 down from 055 a year ago outlook teva anticipates fy23 sales of 148 – 154 billion compared to the consensus of 1506 billion the company anticipates adjusted eps of 225255 versus the consensus of 240 the company anticipates fy23 adjusted ebitda of 45 49 billion and free cash flow of 17 21 billion teva plans to unveil a new strategy next week which francis said would build on tevas strong foundations key strengths and set the stage for longterm growth price action teva shares are down 604 at 855 during the premarket session on the last check wednesday now read tesla peak earnings in rear view as ev maker falters in china says analyst wall street remains criminally bullish

shares of coterra energy inc ctra inched 017 higher to 2414 thursday on what proved to be an allaround grim trading session for the stock market with the sp 500 index spx falling 072 to 406122 and dow jones industrial average djia falling 086 to 3312774 coterra energy inc closed 1241 short of its 52week high 3655 which the company reached on june 8th the stock demonstrated a mixed performance when compared to some of its competitors thursday as eog resources inc eog rose 026 to 11131 diamondback energy inc fang fell 217 to 12599 and civitas resources inc civi fell 009 to 6512 trading volume 90 m remained 41016 below its 50day average volume of 91 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

i am so pleased to welcome jeff kennett chairman ceo of macys on a day where your shares are really outperforming and lastly its about execution and what is you call a volatile macro economic environment is there any sign that that volatility is dialing down jeff you know caroline i think its pretty consistent you know when we last spoke and what we saw in the fourth quarter thats continuing and were anticipating that those macro conditions are going to play out through the balance of 2023 and you know were seeing it in savings rates were seeing it in credit balances were seeing that and just inflation and how its playing in services and in goods but we also see big opportunity and you know we can get into that in our conversation tell us about your consumer because it looks as though youre looking at the luxury end as an opportunity as a growth factor is that how we can class the consumer that the higher end luxury consumer is still strong but more income strapped are going to find it difficult to purchase in 2023 yeah what were seeing is that really all income levels are are basically at a different level than they were in the beginning of twenty one and so we expect that to persist but certainly the luxury consumer is more resilient and i think this is gonna be a shell game when you look at you know that its a crowded playing field when you look at luxury and its going to be really incumbent upon retail to have the right product the right value the right experience you know and i think our bloomingdales and our blue mercury teams are doing an outstanding job they had record performance in 20 22 and i think that they are well poised to do very well with this luxury consumer is that because the luxury consumer can look through inflationary pressure how much can you pass on costs at the moment to the purchaser oh you talk about when we think about inflation right now so what i would say is that when you look at across our portfolio of three brands youre going to have modest ticket price increases in twenty three versus more aggressive ones in 2010 so thats starting to abate a little bit and so i think this consumer is there theyve got lots of choices and so i think one of the things that is im looking to see where our competitors are with their inventory is wed control our inventory well and i think when you get the environment that has that status with demand everybody benefits from that what im very proud of is the fact that when you look at our inventory situation we had the opportunity to chase consumer demands and were doing that with slightly higher ticket increases were using our pricing science were going after demand be it in casual or be it in career being and travel you really respond to where the customer is going and were doing a good job of doing that in real time so that were were looking at having open to buy reserves so each of the merchants basically have the ability to respond to customer demand and theyre chasing after that demand and using our pricing science to get the most out of out of those those transactions dig into that pricing science dig into what has made you able to well be far more disciplined and farm execute far more efficiently when it comes to inventory now let me try to take you back to the pandemic so when the pandemic we made a big big shift in the way that we do our business with our vendors we basically went from a model that basically had markdown allowances built into the receipts to a net cost model so basically we were reducing the upfront costs that we were replacing goods on the second thing that we did is we went from a functional incentive program where a buyer would get paid based on the performance of their category to one that was enterprise wide so everybody benefited from where the consumer went so those markdowns on those receipts then became available for where the enterprise needed it to go based on consumer signals because the second you set a plan in retail is the second it begins to be wrong the consumers always voting and you always need to make adjustments so what we did through twenty two and what were really have in play for twenty three is buying very conservatively and having opened by reserve that we then use against how we play with receipts markdowns and reserves to customers signals thats helped us with inventory freshness so when 20 22 we look we ended the year with 3 percent less inventory than 21 but 18 percent less inventory than we had in 19 we are doing virtually the same level of business so that gives us a huge opportunity to expand inseason signals from the customer chase trends pull back from trends that arent working as well as we had originally planned and thats making a big difference in our in our in our relevancy for customers that have so many choices talk to us about the choices that indeed how the competitive landscape looks because as you said a lot of its to do with well what theyre doing how that discounts are do you think thats going to pull back a little bit is everyone gonna be able to look at more profitability for 20 20 three if youre seeing that now i think youre starting to see like a lot of our competitors that we do business against and west is their inventories much more in line with consumer demand so thats a heartening thing for all of us when you see that the customers are not having to respond to this glut of inventory thats out there where the only way to move it is by lowering the price so i think everybody is getting demand and supply more and status you know were seeing that and i think all of our competitors are in a similar boat with that so thats good news thats good news and i think the consumer is going to be able to respond to us giving receipts that are more in keeping with what theyre looking for so youre not stuck with excess product that you havent liquidated yet talking about product one of the innovations youve had is the marketplace to do with macys you expanding that youre looking at the luxury buyer with bloomingdales for this just explain what this offering provides and how youre leaning into the digital side so obviously when you look at customers we have many categories that we service on that end through marketplace many more are coming so in the fourth quarter we launch the macys marketplace we did this in september weve added 20 new categories and 500 new brands as a result of marketplace and that gives customers a lot more choices example so during the fourth quarter two of the hottest categories for us and marketplace and we really didnt have in our owned inventory from before was video games and electronics those are where customers they trust macys as a brand and so theyre ready to transact with us if we have the right content for them so so much of our business starts on digital where is transacted on digital so to have marketplace that a customer they dont know what whether ise marketplace or vendor direct or owned inventory they just know that when they come to macys they can get they can get a broad range of categories at great values so thats what were so encouraged by so what you heard us talk about today was were going to be adding 2000 new brands in twenty three on the on the macys side and were going to be adding a bloomingdales marketplace in the back half of 23 so it just gives us a lot of flexibility because were a trusted brand were a department store that has many categories and about to have a lot more as a result of marketplace and you really understood that omni channel balance im going to ask you that for maybe a bit of a curveball but maybe one being asked a lot more of you ai artificial intelligence it seems to be something that some of your competitors are talking up at least is this something that you embrace at macys so ill put that in the camp what kind of data and analytics you know ai absolutely so when you look at the technology that we have that weve invested in and when you look at the science that we have that were putting against the art of the business its the combination of that that makes a great retailer so art and science is so important where are the trends going you cant always see that an algorithm that boy you can look at all the signals you can aggregate them for in real time and whats going on in the balance of the industry your customers are working on instagram and how theyre responding to new trends and how do you express that in each of your individual brands what we see is that our customers at bloomingdales theyre up front with trends and when they move off a trend you can see where that might cool based on trend curves on the macys side so were using all the data that we have weve built up our data analytics capability we built a center of excellence over the past couple of years thats paying david ingles you know when you look at dynamic pricing to be able to strike the entire internet on where the prices are on commodities and now in real time you can make adjustments online and in some respects in store so we were clearly using you know where science is taking us to better we started to respond to this customer whos got so many choices and theyre looking for the best combination of product value and experience and we have a huge opportunity to get that right and to do that in real time is a important component of whos going to win i mean richard and what about the choices of your people jeff what about your talent i always ask it how are they how are they asking you for more money its all so look you know when you look at our what we call our ftse weve made a huge investment in our colleagues and our talent so just to remind when we started the pandemic we had about 30000 more colleagues than we have today but the ones that we do have we are paying at very different rates than we did before so we went to a 15 dollar minimum wage guarantee across the country were paying an average of 20 dollars or above for our frontline colleagues were giving them free education for our guild program were giving them spot incentives through our path to growth incentives this is making a huge difference in the caliber of talent that were able to reach our turnover is down our retention is at the productivity of those colleges up these are all worthwhile investments and we see it on our cultural survey which is basically we ask our customers or our colleagues twice a year what they think of us and opportunities for us to improve and we act on that then almost 90 percent of our colleagues fill it out the bulk of those give us very specific comments theyre very happy with the way that theyre being treated but we have opportunities to do even better so our pilots are our most precious resource and they make the biggest difference for our colleagues and how we can get to our overall goal of getting to low single digit growth with double digit ibex profile its going to be based on the great strengths of our amazing team so lastly fill out a quick survey for me if you had two options you were optimistic or more pessimistic pessimistic which one would you be taking unbalanced you know i have a lot of confidence in our gm i have a lot of confidence in what were controlling i think that the the outlook that were looking at right now is were assuming it continues the way that it is but you know im not an economist so we were always looking at the signals the macro signals and the micro signals what i know is that our team is poised and were ready because of our financial health and what were doing with our operational efficiency and our great desire to serve our customers in the best possible way across all three of our banners to do that it is good away as we cant so were very motivated to be there for our customers we love how youre here for us to talk about that macro that micro even if you call yourself not an economist i feel like you are in many ways jeff kennett we thank you so much for your time we appreciate it the ceo and chairman of macys

shares of pfizer inc pfe inched 047 higher to 3867 monday on what proved to be an allaround mixed trading session for the stock market with the sp 500 index spx rising 005 to 413812 and the dow jones industrial average djia falling 017 to 3361869 this was the stocks second consecutive day of gains

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shares of borgwarner inc bwa rallied 337 to 4659 monday on what proved to be an allaround positive trading session for the stock market with the sp 500 index spx rising 018 to 461367 and the dow jones industrial average djia rising 026 to 3591384 borgwarner inc closed 896 below its 52week high 5555 which the company reached on june 3rd trading volume 13 m remained 478442 below its 50day average volume of 18 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

as higher mortgage rates slow the housing market consumers—and analysts—are updating their expectations housing market sentiment last month was at its lowest level since 2011 according to fannie mae ’s september home purchase sentiment index the survey’s responses—released last week—paint a bleak picture of consumer housing expectations three fourths of respondents said it was a bad time to buy a home and the share of respondents who said home prices would go down over the next year was greater than the share that said prices would go up for the first time since the early months of the pandemic in 2020 “as long as supply is limited and affordability pressures continue to constrain potential homebuyers via elevated home prices and mortgage rates we expect home sales will remain sluggish” doug duncan fannie mae’s chief economist said in a statement consumers aren’t the only ones updating their expectations a team of citi research analysts led by anthony pettinari lowered their thirdquarter pershare earnings estimates for home builders by a median 8 and dropped their 2023 estimates by a median 3 the revisions come with higher forecasts for mortgage rates and anticipated home price drops the citi analysts see rates in 2023 in a range from 65 to 675 and a peaktotrough drop in average sale price of 12 but that doesn’t mean home builder stocks which are largely down roughly 30 this year will necessarily suffer “we see significant negativity already priced into the stocks and 3q results could follow a recent trend of positive reactions despite belowcons earnings results and deteriorating macro” the analysts wrote citing dr horton ’s upcoming earnings release scheduled for nov 9 as a potential catalyst the citi analysts said they are “selectively positive” on builders with buy ratings on dr horton ticker dhi and pultegroup phm the team raised their price targets on several housing stocks for the next 12 months revising dr horton ’s target to 87 from 83 pultegroup ’s to 51 from 49 and toll brothers ‘ tol to 47 from 46 the analysts rate toll brothers shares neutral as of midday on tuesday dr horton was up 17 to 7342 pultegroup was up 13 to 4039 and toll was up 072 to 4464 analysts at wedbush also revised price targets on several builders this week analysts jay mccanless and brian violino lowered their price targets for three builders—dr horton meritage homes mth century communities ccs—as they anticipate the impact of higher mortgage rates on the companies’ earnings “the combination of mortgage rate buydowns and weaker demand are likely to lead to lower earnings over the next four quarters” the analysts wrote about dr horton the largest of the builders the analysts lowered their dr horton price target to 83 from 97 meritage’s target to 102 from 130 and century’s target to 79 from 94 while the analysts lowered their price targets they restated their outperform ratings on meritage dr horton and century communities adding that the companies’ similar home building strategies—starting construction on a home without a contract in place—will act as an advantage in the nearterm over builders who begin construction after a contract is signed the analysts also lowered their price target for lgi homes lgih to 84 from 94 after the builder’s thirdquarter sales absorption pace announced last week with the company’s earnings release date came in below wedbush’s forecast the analysts rate lgi homes shares as neutral as of tuesday midday lgi meritage and century shares were each trading higher despite lower earnings expectations the analysts foresee a “positive demand inflection” in the first half of next year “assuming the current demand pause is similar to the pattern of events in 2018 and 2019” builders are not the only companies contending with lower demand amid higher mortgage rates r5 analyst scott mushkin downgraded shares of home improvement company lowe’s low to a hold from a buy earlier this week barron’s reported as the housing market slows all eyes are on 30year fixed mortgage rates which at an average 666 as of last week has more than doubled this year as the federal reserve has acted to combat inflation it’s likely that mortgage rates will react to economic indicators through the rest of the year barron’s reported previously while the next freddie mac reading on the average 30year fixed rate is due on thursday mortgage rates likely rose in the wake of friday’s jobs report rocket mortgage on tuesday morning quoted an interest rate of 699 on a fixed 30year purchase loan

shares of consolidated edison inc ed inched 076 higher to 9511 wednesday on what proved to be an allaround positive trading session for the stock market with the sp 500 index spx rising 142 to 402781 and the dow jones industrial average djia rising 100 to 3271760 the stocks rise snapped a twoday losing streak consolidated edison inc closed 710 below its 52week high 10221 which the company achieved on september 12th the stock underperformed when compared to some of its competitors wednesday as duke energy corp duk rose 160 to 9627 exelon corp exc rose 081 to 4115 and sempra sre rose 206 to 14845 trading volume 16 m remained 310401 below its 50day average volume of 19 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

wall street analysts pounded the table for a slew of buyrated stocks this week with summer just around the corner analysts said there are plenty of top companies for investors to choose from cnbc pro combed through top wall street research to find the mustown stocks for summer they include marketaxess bowlero zillow liberty media formula one and booking bowlero stifel analyst steven wieczynski is doubling down on shares of the bowling company after a recent meeting with company management the firm also added bowler to its stifel select list earlier this week warning investors shouldnt overlook the stock despite coming under massive pressure we come away with an even higher conviction of this storystock and believe shares remain massively undervalued he said of the meeting with executives of the company wieczynski noted that a consumer slowdown is already baked into the stock which should give shareholders some comfort also not getting enough attention is bowleros unappreciated acquisition of lucky strike which has tremendous upside according to parker meanwhile if consumers do begin to pullback wieczynski is now confident that management has plans in place we consider bowl uniquely wellequipped to weather a downturn as well as or better than the rest of our coverage both in terms of the appeal of the companys core product and levers management can pull to protect profitability in the event of topline contraction he said bowlero shares are down 112 this year zillow an enticing buying opportunity remains in zillow according to stephens analyst john campbell the firm said earlier this week theres no shortage of positive catalysts ahead for the online real estate company zillow is management is executing he said primarily by focusing on a five pillar strategy as far as the moving pieces these initiatives are designed to increase engagement increase transactions and increase revenue per transactions all of which will need to increase for zg to have a shot at hitting its 2025 financial targets he said yet even if the company doesnt reach its longterm financial targets campbell said investors should stick with the stock zg getting halfway to its ebitda target would equate to a stock trading at 10x discounted in the back half 25 target ebitda he added shares are up 39 this year but the stock still has plenty of room to run he went on to say marketaxess atlantic equities analyst simon clinch advised investors buy the dip in marketaxess the electronic trading platform for credit markets the firm said its review of the companys mostrecent may trading volume report is encouraging creating a prime opportunity for investors our analysis determines more stable pricing and market share trends than observed in april and may which gives us confidence in growth beyond the temporary market dislocation he said to be sure clinch acknowledged that pressures remain but the long term growth opportunity remains attractive and headwinds should soon turn into tailwinds we would expect fundamentals to continue improving now that the debt ceiling impasse has been resolved shares are up 15 this month however the firm said the longterm opportunity is enticing we view any weakness as an opportunity to build positions for longterm investors though patience is required clinch went on to say bowlero stifel buy rating we come away with an even higher conviction of this storystock and believe shares remain massively undervalued bowl shares have been under massive pressure since the company reported f3q23 results back on may 16th we consider bowl uniquely wellequipped to weather a downturn as well as or better than the rest of our coverage both in terms of the appeal of the companys core product and levers management can pull to protect profitability in the event of topline contraction zillow stephens buy rating enticing buying opp remains housing sentiment remains sour but we think not getting worseeventual pause and drop in rates will likely trigger housingrelated stocks including zg higher as a reminder after zg chose to wind down its ibuying business the company shifted it focus to 5 pillars of strategic focus which it announced during its 4q21 earnings call and are intended to help form the foundation of the super app zg getting halfway to its ebitda target would equate to a stock trading at 10x discounted back half 25 target ebitda marketaxess atlantic equities buy rating our analysis determines more stable pricing and market share trends than observed in april may which gives us confidence in growth beyond the temporary market dislocation but the lt growth opportunity remains attractive we would expect fundamentals to continue improving now that the debt ceiling impasse has been resolved we view any weakness as an opportunity to build positions for longterm investors though patience is required liberty formula one cowen outperform rating we are initiating coverage on liberty formula one group with an outperform rating and a 90 price target we think the market is underappreciating that fwon is still in the early laps of improving asset utilization of the commercial rights we see a clear path to above consensus 15 adj oibda and lfcf cagr through 2027 and the significant potential for buybacks to enhance shareholder value read more about this call here booking holdings argus buy rating we believe that bkng shares are undervalued at current prices near 2713 the shares are trading at 185times our revised eps estimate for 2023 below the average for other online booking companies we believe that the current valuation inadequately reflects prospects for stronger revenue and earnings over the remainder of 2023 as such our rating remains buy our revised target price of 3080 implies a potential return of 14 from current levels

shares of taketwo interactive software inc ttwo slumped 090 to 15911 tuesday on what proved to be an allaround dismal trading session for the stock market with the sp 500 index spx falling 034 to 452003 and dow jones industrial average djia falling 076 to 3510000 this was the stocks second consecutive day of losses taketwo interactive software inc closed 5580 below its 52week high 21491 which the company reached on february 8th the stock underperformed when compared to some of its competitors tuesday as microsoft corp msft fell 032 to 30018 trading volume 795121 remained 423492 below its 50day average volume of 12 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

europe and the us face a high likelihood of recession as central banks are forced to aggressively tighten monetary policy to combat inflation according to deutsche bank ceo christian sewing the us federal reserve european central bank swiss national bank and the bank of england all moved to rein in inflation last week albeit to varying degrees consumer price inflation in the euro zone hit a fresh record high of 81 in may and the ecb has confirmed its intention to begin hiking interest rates at its july meeting central bank leaders and economists around the world have acknowledged that the aggressive tightening that may be necessary to rein in inflation could risk tipping economies into recession with growth already slowing due to a confluence of global factors europes proximity to the war in ukraine and its reliance on russian energy imports render the continent uniquely vulnerable to the conflict and a potential stoppage of russian gas flows one thing is clear if there is a sudden stop of russian gas the likelihood of a recession coming sooner is obviously far higher there is no doubt sewing told cnbcs annette weisbach in an exclusive interview but i would say that overall we have such a challenging situation that the probability of a recession also in germany or in europe in 2023 or the year after is higher than we have seen it in any of the previous years and that is not only the impact of this awful war but look at the inflation look at what that means for monetary policy along with inflation stemming from the war in ukraine and associated sanctions on russia supply chains have also been stymied by resurgent postpandemic demand and a return of covid19 control measures most notably in china that is such a challenging situation that we have three four drivers which can severely impact the economy and all of that coming together in one and the same time means that there is enough pressure and a lot of pressure on the economy and hence the likelihood of a recession coming into europe but also in the us is quite high sewing said

shares of verve therapeutics inc were lower in wednesdays late trading market after the company said it commenced an underwritten public offering of 200 million of common stock all shares are being offered by verve the company said at 509 pm edt the companys shares had fallen 1445 to trade at 3072 per share the stock finished the days regular session with an 1121 gain at 3591 per share also on wednesday the company said it entered a global research collaboration with vertex pharmaceuticals inc to discover and develop an in vivo gene editing program for a single undisclosed liver disease verve has a market cap of 157 billion 4866 million shares outstanding and a public float of 2505 million shares

shares of new residential investment corp nrz were unchanged tuesday on what proved to be an allaround poor trading session for the stock market with the nasdaq composite index comp falling 060 to 1588654 and dow jones industrial average djia falling 031 to 3631998 new residential investment corp closed 040 below its 52week high 1181 which the company achieved on november 3rd the stock demonstrated a mixed performance when compared to some of its competitors tuesday as realty income corp o fell 071 to 7096 new york mortgage trust inc nymt rose 023 to 437 and nam tai property inc ntp rose 173 to 2057 trading volume 37 m remained 619366 below its 50day average volume of 43 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

shares of roper technologies inc rop shed 167 to 42093 wednesday on what proved to be an allaround dismal trading session for the stock market with the sp 500 index spx falling 070 to 389193 and dow jones industrial average djia falling 087 to 3187457 the stocks fall snapped a twoday winning streak roper technologies inc closed 6730 short of its 52week high 48823 which the company reached on april 7th despite its losses the stock outperformed some of its competitors wednesday as honeywell

export sales of us corn were net negative for the week with sales of new crop being outweighed by large cancellations of old crop the us department of agriculture reported thursday the usda reported that for the week ended april 27 export sales of corn for the 202223 marketing year were a reduction of 315600 metric tons fueling the decrease in previously announced sales was a reduction of 562800 tons by china with cancellations also announced for unknown destinations panama south korea and hong kong corn sales totaled 121000 tons for the 202324 marketing year unable to offset the big cancellation of old crop leading buyers of new crop included mexico el salvador and costa rica sales of corn fell on the low end of forecasts by analysts surveyed by the wall street journal this week meanwhile soybean sales totaled 356700 tons across both marketing years and wheat sales totaled 490800 tons across both years soybean sales were on the high end of analyst expectations while wheat sales exceeded expectations in premarket trading thursday on the cbot mostactive futures for corn are down 1 soybeans are down 04 and wheat is down 1 to see related data search us export sales weekly sales totals in dow jones newsplus

shares of charles schwab corp schw slipped 081 to 5668 friday on what proved to be an allaround favorable trading session for the stock market with the sp 500 index spx rising 123 to 445038 and the dow jones industrial average djia rising 084 to 3440760 charles schwab corp closed 2995 short of its 52week high 8663 which the company achieved on january 9th the stock underperformed when compared to some of its competitors friday as blackstone inc bx rose 017 to 9297 morgan stanley ms rose 019 to 8540 and blackrock inc blk rose 043 to 69114 editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

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the trillion dollar question for investors have chinese technology stocks already bottomed glimmers of hope are emerging on the regulatory side but this week’s selloff is a reminder that the market is still swimming in murky treacherous waters the sp 500 formally entered bear market territory monday investors are concerned persistent inflation in the us means more aggressive rate increases from the federal reserve which could push the economy into recession chinese stocks which had been rallying weren’t immune that’s true even though china will likely buck the trend of monetary tightening evident in most other places

for advisors under pressure to find new stable sources of income for their clients in the context of weak bond yields and high inflation private real assets could prove a useful addition to a portfolio though sometimes overlooked as a source of current income private real assets funds provide differentiated exposure to real estate infrastructure and natural resource assets many of which provide regular cash yield in addition they may offer higher total returns than traditional fixed income help to hedge against inflation and provide diversification benefits while bonds clearly still have a useful hedging role to play in a balanced portfolio their ability to provide sufficient income in a highinflation environment is questionable average coupons on the barclays us aggregate bond index are near alltime lows real returns from treasuries are firmly entrenched in negative territory investmentgrade corporate debt yields are minimal at best and highyield debt has become a complete misnomer with subinvestmentgrade bonds yielding just above 3 at the end of 2021 rental properties many advisors will be familiar with the strong performance of real assets over the past two decades and their comparatively low volatility a hypothetical model portfolio of real assets created for icapital by alternative investment management firm hamilton lane generated an annualized return of 96 during the period from 1999 to 2020 compared with just 50 for bonds and 72 for public equities and with relatively low volatility this low volatility is due in part to the regular—typically quarterly—yield from many of these assets among assets at the lower end of the riskreturn scale in core and coreplus strategies a significant share of returns comes in the form of income many companies in core real assets categories own or operate hard assets—frequently monopolistic—that typically generate stable predictable income on a feeforuse basis through longterm contracts concessions or leases thereby generating regular cash yield for investors core real estate strategies for example target stabilized often fully leased properties in major markets requiring little improvement and with limited leverage these generate regular and recurring rental income for investors and this yield typically accounts for more than 70 of overall returns similarly core infrastructure strategies primarily generate returns from income this income can act as a buffer in market downturns for example certain categories of real estate—principally office apartment industrial and retail—are relatively economically sensitive with demand tied fairly closely to economic fundamentals this presents a risk of capital depreciation in adverse economic environments however a decomposition of the ncreif odce return index between 1990 and 2020 showed that the income component generated by real estate investments has historically helped significantly reduce or even fully negate losses from capital depreciation as it did in 2020 after covid19 hit land farms and forests when it comes to natural resources the composition of returns—and therefore the associated risk—varies widely but income may form a significant component take agriculture for example land to grow row crops is typically leased on multiyear contracts which results in regular current income from farm rent in addition to the expected value appreciation of the land timberland investments also generate regular income during harvest furthermore if harvested at a rate equal to the natural growth of the trees then this income is achieved without loss of value to the asset which is akin to interest on principal one risk to be cognizant of for both timberland and farmland is that a combination of rising demand from institutional and individual investors and the relative scarcity of these assets could potentially lead to return compression given high recent inflation it is important to note that income from real assets is often protected against inflation for example the longterm contractual payments typical of infrastructure investments usually have builtin inflation escalators that help protect yields against the impact of rising costs real estate investments meanwhile generally offer protection against inflation via the opportunity to periodically adjust rents many assets in the natural resources space are in fact the source of and directly benefit from inflation sectors such as energy and mining with exposure to commodities priced in dollars have generated attractive average returns when inflation is high agriculture and timber are also sensitive to price changes—and are usually components of and beneficiaries from global commodity price increases factoring in illiquidity before recommending private real assets to clients as an alternative source of income it is of course important to understand the specific risks of the various asset classes that together constitute real assets more than that advisors must be clear—and communicate clearly to clients—about the liquidity risk inherent in most private investments this illiquidity is vital to provide the funding stability necessary for a private fund manager to execute their investment strategy and where relevant exit that investment at the most opportune time however the liquidity limits mean that advisors will need to rebalance portfolios around their private market investments while there are new and innovative access vehicles for investing in private real assets these funds still do not afford the liquidity necessary for advisors to quickly rebalance an investor’s allocation in the same way they can with public market options nevertheless should a client be comfortable with a little illiquidity and given the challenging environment for public fixedincome investments we believe advisors should seriously consider allocating to private real assets they not only provide complementary income to bond allocations but also offer diversification benefits for clients already invested in private markets for example the early flow of distributions from most real assets strategies can mitigate some of the cashflow challenges faced when investing in private equity private real assets are increasingly accessible to individual investors via the growing universe of funds being made available to accredited investors or in specific cases even subaccredited ones including nontraded reits interval funds and business development companies nick veronis is cofounder and one of the managing partners of icapital where he is head of portfolio management he spent 11 years at veronis suhler stevenson vss a middle market privateequity firm where he was a managing director responsible for originating and structuring investment opportunities at vss he specialized in the business information services sector and helped spearhead the firm’s investment strategy in the financial software and data sector including its investment in ipreo he was previously an operating advisor to atlas advisors an independent investment bank based in new york

danske bank as on friday reported lowerthanexpected earnings for the first quarter as trading and insurance income fell amid turbulent financial markets causing negative value adjustments the copenhagenbased bank made a quarterly net profit of 277 billion danish kroner 391 million with net interest income of dkk584 billion analysts polled by factset had forecast net profit at dkk309 billion with net interest income at dkk555 billion danske bank said it still expects net profit for 2022 to be between dkk13 billion and dkk15 billion compared with dkk1292 billion in 2021 while an overall cost focus remains a priority the downwards trajectory of our underlying costs continues and we remain committed to reaching our 2023 targets chief financial officer stephan engels said income from core banking activities this year is expected to be higher on the year while net income from insurance business and trading activities are expected to be at a normalised level costs this year are seen at around dkk25 billion while loan impairments are expected to be below the normalised level it added the bank maintained its ambition for a return on shareholders equity of 859 in 2023

uk groceryprice inflation in march reached a fresh record high and its ninth month of doubledigit figures as shoppers hunt for cheaper prices according to the latest report by marketresearch firm kantar annual grocery inflation for the fourweek period to march 19 rose to 175 from february levels of 171 this is the highest level since the figure started to be tracked in 2008 the report said the increase represents a potential extra 837 pounds 102834 on households annual shopping bills if they dont cut costs kantars head of retail and consumer insight fraser mckevitt said as consumers searched for lower prices supermarket footfall rose and excluding the christmas period reached the highest frequency since the start of the coronavirus pandemic the supermarkets are also tackling groceryprice inflation battling it out to demonstrate value and get customers through their doors this is a fiercely competitive sector and if people dont like the prices in one store they will go elsewhere mckevitt added as supermarkets and shoppers adapt to manage rising prices ownlabel ranges are becoming the main strategy to offer best value and protect market share from discounters ownlabel product sales were up by 158 on year compared with an increase of 132 a month ago market share of german discounter aldi reached another record high of 99 with sales for the four weeks up 254 on year lidl was the fastestgrowing supermarket as sales increased 258 with a market share now at 74 the report showed earlier in the day nielseniq and the british retail consortium reported that uk shopprice inflation in march reached 89 with all categories hitting recordhighs led by fresh food the increase was driven by poor harvests in europe and north africa while imports became more expensive due to weaker pound according to the report

shares of oreilly automotive inc orly inched 035 higher to 71373 thursday on what proved to be an allaround favorable trading session for the stock market with the sp 500 index spx rising 141 to 419912 and the dow jones industrial average djia rising 098 to 3329178 the stocks rise snapped a fiveday losing streak oreilly automotive inc closed 3715 below its 52week high 75088 which the company reached on august 16th the stock demonstrated a mixed performance when compared to some of its competitors thursday as autozone inc azo fell 037 to 222360 genuine parts co gpc rose 156 to 15972 and advance auto parts inc aap rose 060 to 18099 trading volume 414750 remained 75690 below its 50day average volume of 490440 editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

pacific western bank signage is displayed outside of bank branch in beverly hills california on may 4 2023 check out the companies making the biggest moves in premarket trading pacwest the regional bank popped 39 in premarket trading adding to its nearly 82 gain on friday pacwest said its business is fundamentally sound and cut its dividend by just 1 cent per share western alliance gained about 11 while zions bancorp added nearly 6 occidental petroleum the energy stock dipped less than 1 in premarket after warren buffett said berkshire hathaway doesnt plan on taking full control of the oil giant the oracle of omaha has amassed a stake of 235 while receiving approval to purchase up to 50 of the company berkshire hathaway the conglomerates b shares rose 14 in premarket after buffetts company reported a 126 jump in operating earnings in the first quarter the strong performance was driven by a rebound in the conglomerates insurance business overall earnings also rose sharply thanks in part to gains in its equity portfolio led by apple estee lauder shares jumped 42 in premarket trading following a sunday report from the new york post that activist investor nelson peltz was contemplating a possible shakeup at the beauty products company the campaign would reportedly target ceo fabrizio freda amc amc slid 3 in the premarket after the movie theater chain said it reached an agreement to settle a shareholder class action against the conversion of amc preferred equity units into common company shares as well as a reverse stock split investors approved the decision in march american airlines shares gained about 3 in premarket trading monday after jpmorgan upgraded the stock to overweight from neutral analyst jamie baker highlighted the companys attractive valuation and said the big 3 airlines which encompasses american delta and united are pulling away from the broader field of providers tyson foods shares of the food production company tumbled 9 after tyson cut its annual sales outlook and posted an unexpected loss for its latest quarter according to factset it also warned of a 4 decrease from the previous year in domestic beef production and flat pork production viatris shares added 24 after the healthcare stock topped earnings expectations and reaffirmed fullyear guidance despite a shortfall in revenue viatris posted 9329 million in adjusted net income for the first quarter ahead of the consensus estimate of 8358 million from analysts polled by factset revenue came in at 372 billion against a forecast of 38 billion fortinet the cybersecurity company added 33 after being upgraded to buy from neutral by bank of america the wall street firm cited fortinets solid execution and strong underlying demand

today only for only 7 you can get 2 winning options trade alerts every month click here to see trade ideas riskfree with a 14 day refund guarantee maristech ltd mtek opened up its shares for public trading for the first time since it filed for ipo in november 2021 the company agreed to initially offer 370 million shares to the public at a 420 per share on its first day of trading the stock increased 405 from its opening price of 30 to its closing price of 312 maristech ltd performance on first day of trading about maristech ltd and its ipo maristech is a b2b provider of intelligent video transmission technology founded by veterans of the israel technology sector with extensive electrical engineering and imaging experience for its ipo mtek agreed to offer 370 million shares at a price of 420 per share with an insider lockup period of 180 ending on august 01 2022 an insider lockup period is a period of time after a company first goes public where major shareholders are not allowed to sell their shares the insider lockup period makes sure that the market does not get oversupplied with shares of the company traders may short the stock leading up to the lockupperiod expiration date in hopes that the price will fall due to an increase in supply of shares retail traders should be watching this stocks short interest as it moves closer to lockup expiration see also benzingas most shorted stocks this article was generated by benzingas automated content engine and reviewed by an editor

global sales of beigene’s antitumor drug zanubrutinib more than doubled to 308 million 222 billion yuan in the quarter beigene was slapped with a patent lawsuit by us rival abbvie in june and suffered another blow to its global ambitions in july when novartis pulled out of a drug collaboration china’s beigene ltd bgne has underlined its status as a rising star of the global drugs industry posting a big jump in quarterly sales of its trademark cancer medicines but the upstart drug developer is facing resistance from other top brands in the field of cancer therapy and has yet to find a path into profit beigene reported last wednesday that its overall revenue from product sales and collaborations rose 74 in the second quarter to 595 million 425 billion yuan boosted by sales of its selfdeveloped cancer drugs the company’s net loss for the quarter shrank by almost a third from 566 million to 381 million leaving aside a 17 rise in operating expenses the underlying business was thriving with an 818 leap in product income two of the company’s three independently developed drugs were the main revenue drivers the biggest earner was zanubrutinib a drug used to treat cancer caused by defective b cells sold under the brand name brukinsa the btk inhibitor ranks as the first usapproved lymphoma treatment developed in china the drug brought in 308 million in the second quarter 139 more than in the same period a year earlier the us market generated about 224 million of that income marking a yearonyear surge of nearly 153 meanwhile beigene’s tislelizumab the best seller in china’s market for pd1 cancer drugs also drove the rise in quarterly revenues mainland sales of the drug which targets immune checkpoint proteins on cancer cells climbed 425 to 150 million buoyed by the secondquarter earnings the halfyear figures were also eyecatching sixmonth revenue rose nearly 61 to around 1043 billion the company slashed its net loss by around 27 or 271 million in the first half to around 730 million global zanubrutinib sales soared 123 to 519 million in the half year turbocharged by us demand the us market accounted for 362 million of the drug’s sales a surge of 37 year on year despite the stellar sales the stock market was in two minds about the results investors sent beigene stock tumbling 33 on the day after the earnings only to propel a 62 rebound the following day some analysts decided to raise their price targets on the back of the earnings credit suisse said secondquarter revenues exceeded expectations mainly thanks to strong zanubrutinib sales which helped to narrow the company’s losses credit suisse also highlighted continued changes in the company’s sales mix and an increase in operating leverage raising its price target slightly from hk180 to hk1806 while sticking with an “outperform” rating soochowsecurities predicted a sustained rise in overseas sales after a global headtohead trial found that beigene’s zanubrutinib outperformed a rival drug ibrutinib that was developed by us pharmaceutical giants abbvie inc abbv and johnson johnson jnj beigene’s drug also won us approval this year to treat chronic lymphocytic leukemia or small lymphocytic lymphoma providing another sales boost the securities firm also noted that beigene’s other flagship product tislelizumab had been approved in china to treat 11 conditions of which nine were covered by national medical insurance as a result the brokerage maintained its “buy” rating citing the fact that revenue growth outpaced a rise in operating expenses but for all its sales growth and burgeoning prestige the company remains stuck in the red accumulating losses of 5743 billion since 2020 squeezed by high administrative and sales costs as well as rd spending for the overseas strategy another factor was a stronger us dollar which led to losses on subsidiaries’ foreign exchange holdings commercial disputes and illfated alliances have also threatened to impede beigene’s global ambitions as rivalry in the market for novel cancer drugs intensifies in early august the company reached a settlement in a legal tussle dating from 2020 with bristolmyers squibb bmy over a troubled chinese distribution deal for the anticancer injection abraxane under a deal struck in arbitration bms agreed to return about 2327 million beigene shares in exchange for termination of the licensing and supply contract but as one headache was being eased managers were having to wrestle with bigger troubles in june us drugmaker abbvie abbv filed a complaint againstbeigene and its us subsidiary beigene usa alleging breaches of patents held by its pharmacyclics unit the focus of the lawsuit zanubrutinib was the first independently developed drug to be marketed by beigene it became china’s first novel anticancer drug to get us regulatory approval in 2019 the drug has now been approved for use in more than 65 countries and markets including china the uk and the european union the drug’s status was burnished by the victory over abbvie’s ibrutinib formerly the front runner in blood cancer therapy in the global trials beigene’s drug outperformed ibrutinib for safety and effectiveness in the headtohead tests thus gaining more traction in european and us markets beigene has insisted its drug is an original and independently developed product the company vowed to fight the patent lawsuit saying it was not surprising if a commercial competitor used every available means to thwart surging sales of a rival drug however such lawsuits can drag on for years destabilizing sales another blow landed in early july when the multinational pharmaceutical company novartisnovnswx opted to pull out of a collaboration with beigene to develop a tigit inhibitor once tipped as the future of cancer immunotherapy the end of the alliance means the drug candidate osperimab reverts to beigene under the initial external licensing agreement beigene gained the right to phased payments from novartis of more than 28 billion the novartis retreat means beigene holds on to the 300 million cash downpayment but it forfeits the remaining balance aside from sowing revenue uncertainty the move could be seen by investors as a vote of noconfidence in the project to develop a drug targeting the tigit immune receptor another innovative drugmaker that has yet to turn a profit can serve as a useful market reference for beigene shanghai junshi biosciences co ltd 1877hk 688180sh has a pricetosales ps ratio of 136 times just above beigene’s 123 times but junshi’s hong kong share price has fallen more than 50 this year compared with a 127 drop for beigene the market may be a tad more optimistic about beigene whose valuation could enjoy a more forceful rebound later in the year

the world’s largest wholesale distributor of swimmingpool supplies gets most of its revenue from recurring services like maintenance and that isn’t likely to go away

shares of indusind bank ltd 532187 slid 114 to 106940 indian rupees monday on what proved to be an allaround great trading session for the stock market with the sp bse sensex index 1 rising 002 to 5984651 indusind bank ltd closed 20585 rupees short of its 52week high 127525 rupees which the company achieved on september 20 the stock underperformed when compared to some of its competitors monday as union bank of india unionbank fell 067 to 6660 rupees and state bank of india sbin fell 026 to 52630 rupees trading volume 39173 remained 70765 below its 50day average volume of 109938 editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

shares of us bancorp usb dropped 050 to 4532 tuesday on what proved to be an allaround rough trading session for the stock market with the sp 500 index spx falling 041 to 390819 and dow jones industrial average djia falling 055 to 3114530 this was the stocks second consecutive day of losses us bancorp closed 1825 short of its 52week high 6357 which the company achieved on january 13th despite its losses the stock outperformed some of its competitors tuesday as bank of america corp bac fell 111 to 3306 citigroup inc c fell 127 to 4822 and wells fargo co wfc fell 115 to 4288true trading volume 53 m remained 438461 below its 50day average volume of 58 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

according to benzinga pro following are the gainers and losers in insurance industry for todays intraday session tian ruixiang holdings shares increased by 916 to 119 during tuesdays regular session the current volume of 178k shares is 421 of tian ruixiang holdingss average fullday volume over the last 100 days last updated at 1340 est the market value of their outstanding shares is at 39 million fg annuities life stock rose 418 to 1842 as of 1340 est fg annuities lifes stock is trading at a volume of 743k which is 356 of its average fullday volume over the last 100 days the market value of their outstanding shares is at 23 billion hippo holdings shares rose 399 to 1798 as of 1340 est this security is trading at a volume of 319k shares making up 344 of its average fullday volume over the last 100 days the market value of their outstanding shares is at 4191 million hallmark financial servs shares rose 389 to 694 hallmark financial servss stock is trading at a volume of 26k shares as of 1340 est this is 205 of its average fullday volume over the last 100 days the companys market cap stands at 126 million trupanion stock rose 361 to 4389 trading volume for this security as of 1340 est is 2653k which is 398 of its average fullday volume over the last 100 days the market value of their outstanding shares is at 17 billion genworth finl stock increased by 341 to 575 genworth finls stock is trading at a volume of 27 million shares as of 1340 est this is 710 of its average fullday volume over the last 100 days the companys market cap stands at 28 billion huize holding shares decreased by 445 to 129 during tuesdays regular session trading volume for this security as of 1340 est is 159k which is 391 of its average fullday volume over the last 100 days the market value of their outstanding shares is at 668 million oxbridge re holdings stock declined by 362 to 17 as of 1340 est this security is trading at a volume of 84k shares making up 537 of its average fullday volume over the last 100 days the companys market cap stands at 101 million crawford stock decreased by 29 to 804 crawfords stock is trading at a volume of 27k shares as of 1340 est this is 311 of its average fullday volume over the last 100 days crawford stock decreased by 214 to 87 as of 1340 est this security is trading at a volume of 199k shares making up 422 of its average fullday volume over the last 100 days kingstone companies stock fell 163 to 121 kingstone companiess stock is trading at a volume of 133k shares as of 1340 est this is 898 of its average fullday volume over the last 100 days the market value of their outstanding shares is at 129 million hagerty stock fell 143 to 864 the current volume of 160k shares is 145 of hagertys average fullday volume over the last 100 days last updated at 1340 est the companys market cap stands at 7168 million this article was generated by benzingas automated content engine and reviewed by an editor

msci the largest esg rating company doesn’t even try to measure the impact of a corporation on the world it’s all about whether the world might mess with the bottom line

the vast majority of college freshmen say they are pursuing higher education “to get a better job” and “to be able to make more money” but too many degrees do not increase students’ earnings enough to justify the costs of college a group of state lawmakers in missouri want to change that by altering the incentives facing public colleges and universities the university rewarding workforce readiness act introduced by state senator karla eslinger and state representative mike henderson would link the funding of public universities and community colleges directly to their students’ earnings after enrollment schools which deliver higher average earnings for their students would receive more funding from the state the plan aligns schools’ financial incentives with their mission of expanding economic opportunity for young missourians under the proposed framework each of missouri’s nine public universities and thirteen community colleges would receive a performance score based on several indicators the indicator with the largest weight would be the average annual earnings of students six to ten years after they first enrolled in the institution all students who are currently employed and not pursuing a higher degree would be included in this average the performance score also gives schools credit for enrolling more students who receive pell grants a federal scholarship program for low and middleincome students institutions’ scores rise if they enroll a higher share of pell students and produce higher average earnings specifically for students who receive pell grants these provisions address concerns that the funding formula would incentivize colleges to enroll only wealthier students who have high preexisting earnings potential both fouryear universities and community colleges would be subject to the new formula but fouryear schools would also get credit for placing graduates into public service jobs such as law enforcement and social work universities can also boost their scores if a greater proportion of their former students are working or pursuing a higher degree once the missouri government calculates performance scores for each university it multiplies the scores by the number of students enrolled at each school the product determines each institution’s annual appropriation from the state government schools with better outcomes as measured by the performance score receive more funding per student for example the state technical college of missouri is a public community college that provides several highvalue programs such as registered nursing and electrical technology according to estimates prepared by the cicero institute the school’s annual appropriation would rise between 10 and 23 by 2027 if the performance funding formula were adopted the college could use that new revenue to cut tuition and attract more students towards its highpaying vocational programs alternatively it could use the funds to scale up highvalue but expensive programs like nursing most importantly though the state technical college of missouri would be incentivized to continue offering programs that deliver high earnings for graduates—just as other institutions in missouri’s system would be encouraged to expand programs that produce stellar economic outcomes performance funding works with the right targets the idea of tying state funding to colleges’ performance is not new most states have some sort of performance funding formula that determines all or part of their public colleges’ annual appropriation but the missouri plan is unique in that its primary measure of colleges’ performance is also the most important how much students earn after leaving school according to third way most existing performance funding formulas rely on metrics such as graduation rates and credit hours earned while these are important outcomes to measure they are vulnerable to manipulation there have been cases of schools churning out more shortterm certificates or lowering academic standards to goose their completion numbers labor market outcomes are used only occasionally in performance funding formulas and even then metrics like job placement rates or graduate licensure rates are the most common outcomes measured those are fine things to care about but earnings concern students most and earnings are also the metric that schools are least able to manipulate employers will not pay top dollar to hire students with degrees that lack labor market value one role model for the missouri plan is texas state technical college a community college in the lone star state that receives 100 of its state funding from a formula based on graduate earnings the experiment has been a massive success after the school moved to an earningsbased funding formula during the 2010s the school closed 13 poorlyperforming educational programs and reallocated resources towards degrees and certificates that were more in demand while closing the programs was a “tough decision” according to chancellor michael reeser “we decided that we would rather take a temporary reduction in enrollment than offer programs lacking a strong employment value for students” the results speak for themselves graduates of texas state technical college witnessed a 26 increase in their starting wages between 2009 and 2017 while the number of students placed in jobs rose by 65 in recognition of these outcomes the school enjoyed a 45 increase in state funding unlike the texas formula the missouri plan doesn’t rely totally on graduate earnings fiftyfive percent of the performance score for universities and 70 of the score for community colleges is based on earnings while the remainder is determined by the share of students receiving pell grants and other factors still the missouri plan is a massive step forward that will fundamentally change the incentives facing the state’s public colleges there are ways to improve the plan for one the share of students receiving pell grants is not the best proxy for lowincome student enrollment a large number of middleclass students receive the grant meaning institutions can boost their pell shares without necessarily enrolling more lowincome students moreover if congress increases the maximum pell grant as it did this week the number of higherincome pell students would go up while the number of lowerincome pell students remains roughly the same missouri’s funding allocations would change even if schools did nothing to improve their earnings outcomes or enroll more lowincome students fortunately there’s a solution give students receiving larger pell grants more weight in the funding formula pell grant awards are meanstested so a lowerincome student receives a larger grant than a middleclass student rather than weighting all pell students equally the formula could weight a student receiving a 6000 pell grant six times higher than a student receiving a 1000 pell grant this puts more weight on truly lowincome students and limits the degree to which institutions can boost their performance scores by enrolling more students from nonlowincome families the pell issue however is a minor quibble overall the missouri plan is a strong proposal that would encourage colleges to improve their earnings outcomes and give more students a shot at middleclass careers hopefully it will be among the first of many proposals to tie more of colleges’ state and federal funding to whether they fulfill their most important mission expanding economic opportunity for america’s students

when insiders purchase shares it indicates their confidence in the companys prospects or that they view the stock as a bargain either way this signals an opportunity to go long on the stock insider purchases should not be taken as the only indicator for making an investment or trading decision at best it can lend conviction to a buying decision

semiconductor stocks have struggled this year as investors fretted about a potential economic slowdown pointing to concerns about demand analysts at briley securities just downgraded shares of eight semiconductor and semiconductorequipment manufacturers analysts craig ellis and michael mani wrote in a note wednesday that the changes reflect concerns about results in the second half of 2022 and in 2023 due to slowing demand and rising input costs

bud light is in the headlines again the ceo of anheuserbusch inbev bud the multinational brewing company behind bud light is reportedly planning to go on a tour this summer to listen to consumers but “shark tank” star kevin o’leary also known as mr wonderful doesn’t believe it will turn things around “i don’t think that’s going to work” o’leary said in a recent interview with fox business “he’s going to get an earful there’s no question about it the problem with that tour and that idea is it keeps it as a frontline press item” mr wonderful then highlighted how bud light’s situation is unprecedented in the beer industry “beer brands take decades to build and usually are fighting for 1 to 2 share per year by spending hundreds of millions of dollars on advertising” he explained “this has never happened before no beer brand has ever lost 25 market share in a matter of hours it’s so unprecedented that there’s no playbook for this” investing in real estate just got a whole lot simpler this jeff bezosbacked startup will allow you to become a landlord in just 10 minutes and you only need 100 elon musk has reportedly bought 6000 acres of land just outside of austin heres how to invest in the citys growth before he floods it with new tech workers in april bud light partnered with transgender social media influencer dylan mulvaney who has 106 million followers on tiktok the collaboration triggered a backlash on social media and led to a boycott by some beer drinkers according to consulting company bump williams using data from nielseniq bud light is no longer america’s bestselling beer the top spot now belongs to modelo especial brewed by constellation brands inc stz o’leary pointed out why bud light has been facing such strong headwinds “beer is a commodity the only difference is brand so you really have to protect your brand every way you can” he said “if you don’t understand who’s buying your brand and you enrage them which seems to be what happened here you don’t know the outcome and now we can measure it 25 market share” o’leary also intends to share the insight with his students “this is so extraordinary that i’m planning to teach it this fall in the colleges that i visit and guest lecture at i’ve never seen a brand case like this one” he said later adding that “bud light is the gift that keeps on giving” anheuserbusch inbev’s share price has also taken a hit since april 1 when mulvaney first promoted the beer on social media bud stock has tumbled 15 resulting in the loss of billions of dollars of market cap as a “shark tank” star o’leary has invested plenty in startups but he’s also an advocate for investing in dividend stocks “over the last 40 years 71 of the stock market’s return came from dividends not capital appreciation” he said in a forbes interview “so rule 1 for me is i’ll never own stuff that doesn’t pay a dividend ever” dividends can be a source of passive income for investors but it’s important to remember that dividend stocks can still fluctuate anheuserbusch inbev is a largecap dividendpaying company and its shares have been volatile to say the least if you don’t like that kind of volatility you might want to look into reliable income plays outside the stock market such as investing in rental properties with as little as 100 while staying completely handsoff bezosbacked startup lets you become a landlord with 100 closing the wealth gap investment fund delivers impressive returns to its investors and tenants

investors are preparing for a gloomy 2023 by doubling down on cashrich companies we prefer companies generating cash rather than those that need capital to grow not only are rates likely to remain higher than they have been in recent past but we are likely exiting an era of hyperaccommodative monetary policy bank of america said in a jan 16 note the higher the free cash flow yield the better a companys position to meet its debt obligations a company with a high free cash flow is also able to access cash more quickly in the event of an emergency or opportunity companies that pay dividends companies with great cash flow quality balance sheets international stocks international value in particular this is where the puck has been headed already and i think it will continue josh brown ceo of ritholtz wealth management told cnbc last week using factset data cnbc pro screened for stocks that boast lots of cash and could be well positioned for a rocky year these were the criteria used stocks with high free cash flow yield of more than 10 low volatility beta of less than 1 potential upside to price target buy rating of at least 40 stocks that appeared on the screen below include those in the telecom health care and consumer sectors which are generally regarded as safe havens in a downturn uslisted chesapeake energy corporation was the only energy stock to appear on the screen with its free cash flow yield at nearly 14 analysts gave it a 537 upside and the majority 765 gave it a buy rating the stock like most energy firms did well in the past year already climbing around 40 last week the firm announced that it had agreed to sell part of its operations in south texas for 143 billion in cash firms in the health care or pharmaceutical industries also made the cut such as us companies bristolmyers squibb and cvs health financial services firm cantor fitzgerald said in a jan 17 note that 2023 could be bristolmyers squibbs breakout year and gave the stock an overweight rating bmy has one of the best 2023e growth profiles of the us pharma group … which stands out in a recession year cantor wrote canadian financial firm fairfax stood out for having the highest fcf yield in the list at 304 while hong konglisted wh group the largest pork producer in the world received the highest buy rating at 94 two telecommunication firms britains vodafone group and germanybased deutsche telekom had among the highest fcf yields at 27 and 237 respectively argus research in a jan 20 report noted that vodafone shares outperformed the benchmark over the past three months it added that its current valuation is reasonable given the slow growth outlook cnbcs michael bloom and fred imbert contributed to this report

shares of cocacola co ko inched 014 higher to 6405 friday on what proved to be an allaround favorable trading session for the stock market with the sp 500 index spx rising 009 to 413352 and the dow jones industrial average djia rising 007 to 3380896 this was the stocks fifth consecutive day of gains

shares of brookfield infrastructure partners lp biput shed 160 to c4376 wednesday in what proved to be an allaround rough trading session for the canadian market with the sptsx composite index gsptse falling 160 to 1937884 brookfield infrastructure partners lp closed c1332 short of its 52week high c5708 which the company achieved on april 5th trading volume of 383563 shares eclipsed its 50day average volume of 375616

shares of paramount global cl b para inched 005 higher to 2214 thursday on what proved to be an allaround great trading session for the stock market with the sp 500 index spx rising 133 to 414622 and the dow jones industrial average djia rising 114 to 3402969 paramount global cl b closed 1484 below its 52week high 3698 which the company reached on april 14th the stock underperformed when compared to some of its competitors thursday as apple inc aapl rose 341 to 16556 amazoncom inc amzn rose 467 to 10240 and netflix inc nflx rose 458 to 34619 trading volume 97 m remained 19 million below its 50day average volume of 116 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

shares of midamerica apartment communities inc maa inched 081 higher to 15292 wednesday on what proved to be an allaround favorable trading session for the stock market with the sp 500 index spx rising 024 to 456572 and the dow jones industrial average djia rising 031 to 3506121 midamerica apartment communities inc closed 3725 short of its 52week high 19017 which the company achieved on august 16th the stock demonstrated a mixed performance when compared to some of its competitors wednesday as avalonbay communities inc avb rose 071 to 19443 equity residential eqr rose 104 to 6806 and udr inc udr rose 083 to 4276 editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

shares of fedex corp fdx dropped 15 toward a threemonth low in premarket trading tuesday after citi analyst christian wetherbee downgraded the package delivery company citing concerns over the pace of freight activity with upcoming data expected to skew negatively in the peak season wetherbee cut this rating to neutral from buy and slashed his stock price target to 225 from 270 we believe ground volume has been weakening through f1q and further macro weakness highlighted by management in july and august make doubledigit eps growth difficult even with better pricing through peak wetherbee wrote in a note to clients and because wetherbee is more confident fedex rival united parcel service incs ups ability to lower costs and execute in a challenging macro environment he is suggesting a pair trade in which he recommends overweighting upss stock and underweighting fedex shares fedexs stock has lost 63 over the past three months through friday while upss stock has gained 48 the dow jones transportation average djt has shed 56 and the dow jones industrial average djia has declined 49

hays plc said thursday that net fees rose 32 on a likeforlike basis in the third quarter of fiscal 2022 to a record high and reiterated its fullyear operating profit guidance the uk recruitment company said growth and activity levels for the three months ended march 31 were excellent with likeforlike net fee growth in australia and new zealand at 24 in germany at 32 and in the uk and ireland at 29 the company posted likeforlike net fee growth of 36 for the rest of the world hays reiterated guidance for fullyear operating profit at between 210 million and 215 million pounds 2755 million2820 million while we are mindful of increased macroeconomic and geopolitical uncertainties client and candidate confidence remains strong with continued skill shortages and rising wage inflation globally chief executive alistair cox said hays said that cash collection remained strong and that at march 31 quarterend net cash was around gbp240 million compared with gbp385 million in the yearprior period and gbp2369 million on dec 31

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with so many stores closing their doors for thanksgiving day online shopping is poised to hit a new record according to the latest adobe data which forecasts between 51 billion and 59 billion in spending on thursday the list of retailers that are shutting down on turkey day so that employees can spend time with their families continues to grow such as target announcing monday that it’s going to be closed every thanksgiving from here on out other big name retailers giving their workers the day off include apple inc aapl costco wholesale corp cost home depot inc hd and ikea which notes that it has closed on thanksgiving day in the us for nearly a decade even if finding that musthave item is a bit more difficult many people approve of the act of kindness according to retailmenot’s recent holiday poll it found that 68 of surveyed shoppers said stores should be closed on thanksgiving us financial markets are also closed for thanksgiving and they will close early on black friday as well there are still some nationwide chains that plan to stay open on thursday often with reduced holiday hours and it should be noted that most retailers will still host early black friday deals on their websites of course for those itching to do some holiday shopping online while they’re digesting their turkey related 5 things not to buy on black friday among those that will be open are big lots inc big cvs health cvs and dollar general corp dg many retailers are shortening or otherwise amending their hours for the holiday more information on stores with opening times on thanksgiving can be found on holiday shopping hours which tracks operating hours and open or closed status of stores shopping centers and restaurants even with shoppers ready to clickandpurchase after the last bite of turkey and pie they may have a hard time finding the goods they want adobe adbe also found that outofstock messages are up 227 for the month of november compared with january 2020 consumer electronics are the most scarce also best buy stock plunges as high expectations and supply constraints overshadow earnings beat “we’re on our way to a massive recordbreaking 207 billion holiday shopping season and thanksgiving weekend will continue to play a major role especially online as many physical stores have decided to close on thursday” said taylor schreiner director of adobe digital insights in a statement schreiner notes that shoppers have already spent 20 more yearoveryear due to supply chain constraints and inflation online sales totaled 722 billion between nov 1 and nov 23 shoppers who decide to wait until black friday shouldn’t expect deeper discounts wedbush analysts say lean inventory and high customer demand have hindered discounting “specifically there are no brands in our coverage that are noticeably more promotional yearoveryear at this point and there are several that are less promotional” wedbush said the national retail federation forecasts a record holiday shopping season with sales reaching between 8434 billion and 859 billion the amplify online retail etf has dropped nearly 10 for the year to date the spdr sp retail etf xrt has jumped 547 and the benchmark sp 500 index spx has gained 248 for the period and here’s a look at many of the convenience stores retailers and restaurants that are open for thanksgiving as well as some of the ones that are closed

wendy’s new capital allocation strategy leaves room for upside and could reduce the fast food restaurant chain’s debt say analysts on friday wendy’s co gave upbeat fourthquarter guidance and its board doubled the company’s quarterly dividend to 25 cents a share the board also approved a new 500 million sharerepurchase authorization and announced an organizational restructuring also on friday nelson peltz’s trian fund management said it will not pursue a takeover of wendy’s peltz is wendy’s nonexecutive chairman as well as ceo of trian fund management which is wendy’s largest shareholder last year trian which owns 194 of the company’s shares pushed for a possible sale of wendy’s see now wendy’s stock climbs on upbeat fourthquarter guidance dividend hike citing wendy’s samestore sales momentum expected margin expansion following the company’s reorganization and trian’s announcement truist securities increased its wendy’s price target to 28 from 27 the company’s announced return of cash to shareholders appears conservative leaving room for upside according to truist analyst jake bartlett in a note released monday “we continue to expect accelerating development despite nt pressure” he added stifel also raised its wendy’s price target to 22 from 20 on monday “historically the company has returned more capital through share repurchases than dividends however the new capital plan has likely shifted that strategy” wrote stifel analyst chris o’cull “although the large dividend and likely annual increases theoretically reduce the company’s financial flexibility we do not expect the cash balance to fall quickly due to these actions and believe the company could use a portion of excess cash to reduce debt” wendy’s stock has fallen 16 over the last 12 months compared with the sp 500 index’s spx decline of 142 the fast food chain’s stock fell 06 tuesday outpacing the sp 500 index’s gain of 004 of 29 analysts surveyed by factset 12 have an overweight or buy rating 16 have a hold rating and one has an underweight rating for wendy’s last week trian fund management nominated peltz for the walt disney co dis board the hedge fund owns approximately 94 million common shares of walt disney valued at approximately 900 million in a filing on tuesday walt disney brushed off the billionaire activist investor’s bid for a board seat dismissing his lack of “skills and experience”

welcome to the weekly fix the newsletter that’s hoping for a cool change that probably won’t come i’m bloomberg’s chief rates correspondent garfield reynolds june has turned into a tough month for bonds investors are caught between their rockhard consensus that rates will soon peak and the hard place of central banks that keep hiking to try and tame inflation the bank of england’s shock halfpoint increase on thursday was the latest and perhaps greatest demonstration of the dynamics at play what’s more the us and europe are signalling that the bias is to do more sooner policymakers just don’t share investors’ confidence that the inflation genie is headed back into the bottle federal reserve chair jerome powell used his two days of testimony to ram home to congress the us central bank’s expectations that further rate hikes are needed to get annual inflation back down to 2 that leaves plenty of work to do with core inflation rates currently more than double the fed’s target european central bank officials also fretted that their job is far from over executive board member isabel schnabel said price gains need careful monitoring as corporate profits and higher salaries push up costs bundesbank head joachim nagel cautioned there’s “still a way to go” bond investors remain at least as concerned about the economic outlook driving them into the longer end of the market the us yield curve inverted by a full percentage point once more to approach the lows reached in march before the collapse of silicon valley bank janus henderson group plc meantime sees a rising threat of a credit crunch as the fed hikes there are also concerns that some of biggest private equity players are getting caught out by the swift rise in interest rates threatening to cost the companies they own billions in extra interest t rowe price group inc and allspring global investments are among the big buyers calling the federal reserve’s bluff by seeking opportunities in longerdated highgrade corporate bonds others are buying bonds from developed nations where they believe interest rates will be cut sooner and faster than many economists expect such as in australia and sweden where households are highly leveraged foreign investors are snapping up indian debt in the best buying streak in almost four years as the nation sees better growth prospects and economic stability and the world’s riskiest sovereign bonds are having a moment in the sun as wall street investors seek out high yields from countries showing early signs of marketfriendly pivots china meantime is one major economy looking to ease policy rather than make it more restrictive even if such efforts are having a mixed impact on reviving confidence in the nation’s economic outlook the people’s bank of china also looks to be far from done with its job to stimulate output that’s certainly the view put forward by several prominent state media outlets and top government advisers who are eager for further moves after the central bank’s surprise rate cut last week such calls could reflect disappointment that chinese banks followed the central bank’s reduction by lowering their benchmark lending rates by less than had been expected there are also signs that the yuan’s tumble past the 72 per dollar mark is a key part of stimulus efforts even with the current policy mix bringing little relief for china’s beleaguered junk bond market at least one fund manager thinks it’s time to buy lombard odier singapore ltd reckons some highyield bonds are attractive as prices have fallen enough and china’s growth is likely to pick up egypt climate bond may get vital guarantee from asian bank

shares of morgan stanley ms slipped 229 to 8528 tuesday on what proved to be an allaround grim trading session for the stock market with the sp 500 index spx falling 126 to 452512 and dow jones industrial average djia falling 080 to 3464118 morgan stanley closed 2445 below its 52week high 10973 which the company reached on february 10th the stock demonstrated a mixed performance when compared to some of its competitors tuesday as jpmorgan chase co jpm fell 116 to 13334 bank of america corp bac fell 169 to 4014 and citigroup inc c fell 231 to 5158 trading volume 116 m eclipsed its 50day average volume of 112 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

shares of gamestop corp and amc entertainment holdings and other meme stocks numbered among the hardest hit by monday’s market turmoil the latest blow to the favorite bets of many online day traders videogame retailer gamestop and movie theater operator amc fell around 6 and 7 respectively in afternoon trading monday outpacing broader stock market declines before major indexes turned higher in late trading the drops extended a slump that has dragged down gamestop shares by onethird this year while amc shares have lost about 40 during the same period

the philippine central bank will cut its reserve requirement ratio effective june 30 in a bid to ensure stable domestic liquidity and credit conditions it said thursday the bangko sentral ng pilipinas said that it will reduce the reserve requirement ratio by 25 percentage points to 95 for universal and commercial banks and nonbank financial institutions with quasibanking functions the central bank said that the lowering of reserve requirements doesnt represent any shift in its monetarypolicy settings in may the central bank kept its policy rate unchanged at 625 as domestic inflation had slowed the monetary board is scheduled to meet on june 22

shares of berkeley group holdings plc bkg slid 139 to £4181 monday on what proved to be an allaround positive trading session for the stock market with the ftse 100 index ukx rising 025 to 778487 berkeley group holdings plc closed £324 short of its 52week high £4505 which the company reached on january 16 trading volume 292119 remained 40537 below its 50day average volume of 332656 editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

credit suisse shares have dropped to record lows this week and derivatives bets against it have surged but the swiss lender is not even the most shorted european bank in europe make no mistake short interest in the beleaguered bank has seen the second largest increase in the last 30 days according to new research by s3 partners which combined the short interest in local shares with its uslisted shares short interest in the last month has ramped up 2 by 167 million to a total 303 million s3 says it’s likely because credit suisse csgn cs is undergoing a restructuring ceo ulrich korner attempted to draw attention away from its 12 stock price slump on monday saying the bank maintained a “strong capital base and liquidity position” credit suisse shares fell 4 in zurich trade on wednesday and have dropped 53 this year the bank is still reeling from the collapse of two major firms – us family office archegos and uk finance firm greensill – which cost credit suisse billions of dollars and ignited the need to restructure creditdefault swaps which are bets on whether an issuer will collapse have climbed past levels during the 2008 financial crisis in a new report by s3 partners ihor dusaniwsky managing director of predictive analytics and matthew unterman director of predictive analytics the firm predicted that with its recent market volatility credit suisse “should see continue short selling in the stock as traders look to increase their exposure” dusaniwsky told marketwatch that credit suisse isn’t the most shorted european bank stock because of its plan to become “more efficient and better capitalized as such” “i think that the shorts are waiting to see what happens and what’s announced” he explained meanwhile french lender bnp paribas bnp ranked first with the largest consolidated short interest of 4 or 168 billion followed by ukheadquartered bank hsbc hsba hsbc and finnish lender nordea ndafi both with 11 billion in short interest european banks with the largest increase in short selling in the last 30 days with the fed and the bank of england raising interest rates and the assumption that european central banks will follow suit dusaniwsky explained that short sellers will see that as a sign to rebuild their exposure “big banks that have the most exposure to interest rates and have the most exposure to credit counterparties are going to have the biggest short interest just because they’re going to feel the effects straight on” dusaniwsky added going forward the biggest factor impacting banks’ short interest will be currency swings and interest rates european currencies’ weakened stance against the us dollar will see capital flows going in and out of european banks and rising rates will make them look more profitable in the short to medium term dusaniwsky says “we might see short interest in some banks going down because their nearterm and mediumterm profit estimates look better” he said

ingersoll rand inc raised its fullyear view for adjusted earnings before interest taxes depreciation and amortization the company guided for adjusted ebitda to range between 14 billion to 1425 billion for the year despite an expected 20 million hit from currency translations that compares with its prior outlook of 1395 billion to 1425 billion for the year ingersoll rand also raised its fullyear view for organic revenue growth to be between 12 to 14 up from its prior view of 11 to 13 the company maintained its total revenue growth of 11 to 13 for the year including foreign currency fluctuations

shares of wynn resorts ltd wynn inched 082 higher to 10721 tuesday on what proved to be an allaround rough trading session for the stock market with the sp 500 index spx falling 016 to 397127 and dow jones industrial average djia falling 012 to 3239425 wynn resorts ltd closed 930 below its 52week high 11651 which the company achieved on march 3rd the stock outperformed some of its competitors tuesday as las vegas sands corp lvs rose 059 to 5458 draftkings inc cl a dkng fell 112 to 1761