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sales of previously owned homes declined 15 in september from the prior month us existing home sales fell for an eighth straight month in september as rising mortgage rates made home purchases less affordable sales of previously owned homes declined 15 in september from the prior month to a seasonally adjusted annual rate of 471 million the weakest rate since may 2020 the national association of realtors said thursday september sales fell 238 from a year earlier

shares of alliance data systems corp ads slipped 488 to 6569 wednesday on what proved to be an allaround grim trading session for the stock market with the sp 500 index spx falling 097 to 453276 and dow jones industrial average djia falling 096 to 3502865 this was the stocks third consecutive day of losses alliance data systems corp closed 3654 short of its 52week high 10223 which the company achieved on june 2nd the stock underperformed when compared to some of its competitors wednesday as fidelity national information services inc fis fell 105 to 11330 fiserv inc fisv fell 033 to 10605 and global payments inc gpn fell 084 to 14586 trading volume 37 m eclipsed its 50day average volume of 907580 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 steris plc ste inched 068 higher to 21342 monday on what proved to be an allaround mixed trading session for the stock market with the dow jones industrial average djia rising 009 to 3283254 and the sp 500 index spx falling 012 to 414006 this was the stocks third consecutive day of gains steris plc closed 4251 below its 52week high 25593 which the company achieved on april 20th the stock outperformed some of its competitors monday as thermo fisher scientific inc tmo fell 107 to 58395 medtronic plc mdt rose 032 to 9358 and danaher corp dhr fell 104 to 28699 trading volume 727741 eclipsed its 50day average volume of 514962 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 quanta services inc pwr slid 205 to 11201 monday on what proved to be an allaround grim trading session for the stock market with the sp 500 index spx falling 091 to 466897 and dow jones industrial average djia falling 089 to 3565095 quanta services inc closed 1268 below its 52week high 12469 which the company achieved on november 8th the stock demonstrated a mixed performance when compared to some of its competitors monday as emcor group inc eme fell 090 to 12496 mastec inc mtz fell 238 to 8976 and dycom industries inc dy fell 169 to 9275 trading volume 988476 remained 32061 below its 50day average volume of 10 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

hummingbird resources said tuesday that swung to positive secondquarter earnings and that it expects its yanfolila gold mine in mali to meet its fullyear production target after a rise in production in the second quarter the africafocused gold miner said it expects to report adjusted earnings before interest taxes depreciation and amortization of around 155 million in the quarter compared with a loss of 23 million a year prior the malian yanfolila gold mine produced 23885 ounces of gold in the quarter an increase of 19 on the prioryear period with a total of 51147 ounces produced in the halfyear up 44 the company said allin sustaining costs fell 34 to 1234 an ounce in the quarter rampup of the guinean kouroussa mine remains on track with processing plant availability current at 68 and first gold production recorded last month the company said the operation is anticipated to reach steadystate production in the fourth quarter an updated 2023 production outlook will be given in the thirdquarter update once kouroussa is nearing steadystate production the company said

a view of the london skyline shows the city of london financial district seen from st pauls cathedral in london britain february 25 2017 reutersneil hallfile photofile photo london may 31 reuters britain set out sweeping reforms of big company audits on tuesday after highprofile collapses at builder carillion and retailer bhs in recent years hit thousands of jobs and raised questions about accounting quality the business ministry detailed changes to auditing and corporate governance that will be put into law though the measures are unlikely to come into force until 2024 or later and smaller firms will be shielded from the new rules the reforms are in response to 150 recommendations from three governmentsponsored reviews on improving auditing in a market dominated by kpmg ey pwc and deloitte known as the big four read more the new law would create a more powerful regulator the audit reporting and governance authority arga to push through changes set out by government in the meantime the current watchdog the financial reporting council frc will have powers to vet audit companies and ban failing auditors the ministry said read more britain will also review a european union definition of micro entities which benefit from simplified accounts they typically have a balance sheet of no more than 350000 euros 377230 and employ no more than 10 people loosening the definition would mean more firms saving money by filing simplified accounts though it could raise investor protection concerns other reporting requirements will also be reviewed to help attract growth companies to britain the frc currently focuses on big listed companies but argas remit would expand to include about 600 private firms with more than 750 staff and an annual turnover of over 750 million pounds 949 million a higher threshold than initially flagged bhs was unlisted to curtail the dominance of the big four the top 350 listed companies would have to appoint a nonbig four accountant or allocate a certain portion of their audit to a smaller accountant such as mazars bdo or grant thornton the business ministry could introduce market share caps on the big four if there is no improvement in competition directors of premium listed companies would also have to state why they think their internal controls are effective this would be done under britains comply or explain corporate governance code which the frc can change without legislation uk companies pushed back against enshrining in law a version of mandatory us sarbanesoxley rules which force us directors to personally attest to the adequacy of internal controls and face prison for breaches lessons from carillion and other recent company failures have been ignored with little emphasis now on tightening internal controls and modernising corporate governance said michael izza chief executive of icaew a professional accounting body frc chief jon thompson said the government’s decision not to pursue the introduction of a version of the sarbanesoxley reporting regime is the frc believes a missed opportunity to improve internal controls in a proportionate ukspecific manner big firms would also have to state what external checks if any were made on the reliability of their nonfinancial information in annual reports such as risks from climate change larger companies would have to confirm the legality of their dividends a lesson from carillion

shares of autonation inc an rallied 13 in premarket trading thursday after the auto seller reported firstquarter profit and revenue that rose above expectations as a big beat in sales of used vehicles offset a slight miss in new vehicles net income increased to 3621 million or 578 a share from 2394 million or 285 a share in the yearago period the factset consensus for earnings per share was 525 revenue grew 144 to 675 billion above the factset consensus of 651 billion that outpaced the 118 growth in cost of sales to 544 billion new vehicle sales fell 59 to 281 billion missing the factset consensus of 288 billion while used vehicle sales jumped 471 to 257 billion to beat expectations of 224 billion the company said consumer demand for vehicle ownership remains strong and its used vehicle business continues to meet that demand the stock has dropped 96 year to date through wednesday while the sp 500 spx has lost 64

a group of wealthy nations and multilateral development banks have promised to mobilise 25 billion euros to help senegal reduce its dependence on fossil fuels president macky sall said thursday senegal has committed to increasing the share of electricity generated by renewable energy to 40 percent by 2030 with financing to the order of 25 billion euros 27 billion sall told a roundtable at the twoday summit for a new global financing pact in paris

shares of stanley black decker inc tumbled 137 thursday to lead sp 500 decliners after the tool maker’s secondquarter earnings fell far short of estimates it slashed its guidance and announced cost cuts and an overhaul of its supply chain it was the stock’s swk biggest percentage decline since it fell 138 on march 18 2020 the new britain connbased maker of industrial and household tools posted net income of 876 million or 57 cents a share for the quarter down sharply from 4595 million or 275 a share in the yearearlier quarter excluding onetime charges eps came to 177 well below the 213 factset consensus sales rose 16 to 44 billion but also missed the 47 billion factset consensus “we continue to navigate a dynamic macro environment including inflation rising interest rates and now late in the quarter we started to see these factors impact retail customer demand across our global tools and outdoor markets” chief executive donald allan jr told analysts on the company’s earnings call according to a factset transcript see now toughbuilt stock soars on heavy volume after ace hardware pact to round out a very volatile two weeks “the significantly slower demand trends in june combined with a very late start to the outdoor season due to weather resulted in significant volume pressure versus expectations and revenue landed well below our plan” the poor quarter led the company to cut guidance for the full year by a wide margin the company is now expecting net eps of 80 cents to 205 down sharply from 720 to 830 previously it cut its adjusted eps guidance to 500 to 600 from a previous 950 to 1050 the factset consensus is for fullyear eps of 968 mizuho analysts said the massive guidance cut “truncates anything that occurred in the quarter” the analysts were bracing for a sizable cut “but this is significantly worse than we could have imagined” they wrote see now everything you need to know about the economic recession that we are definitely not in right now the magnitude of the cut is a concern and suggests “there are no quick fixes with the transformation now requiring a significant degree of heavy lifting” they wrote “the midpoint of the new ’22 eps guide implies 21x earnings which seems expensive relative to history” mizuho rates the stock as neutral the stock has an average overweight rating among analysts polled by factset the company has already taken a series of corrective actions said ceo allan and plans to draw down inventory and generate cash flow inventory stood at 66 billion at quarterend up about 400 million from the first quarter due to softer demand and supply chain constraints the company is aiming to cut costs by 1 billion by end2023 and by about 2 billion in three years the company is expecting to take three years to overhaul its supply chain moving closer to customers and to achieve 35 adjusted gross margins by reducing its innovation cycle time the deterioration in consumer tools and outdoor demand came fast he said although professional tool demand remained healthy like many other companies stanley black decker is competing for consumer dollars at a time when they are already paying more for essentials like food and energy “we have seen this phenomenon across many of our global markets as central banks tighten the money supply to control high inflation” he said the company is expecting activity to return to 2019 levels in the latter half of the year however and is already seeing easing of the chip shortages and an improvement in other inputs tools inventories at some major us clients are below 2019 levels limiting the destocking risk in other geographies such as europe in the company’s industrial businesses demand for aerospace fasteners is climbing as narrowbody aircraft production recovers but the auto sector recovery is sputtering but construction repair and remodel outdoor and the general industrial sector are still looking favorable on a longterm basis allan said shares have fallen 46 in the year to date while the sp 500 spx has fallen 15

shares of nrg energy inc nrg slid 322 to 3759 tuesday on what proved to be an allaround mixed trading session for the stock market with the sp 500 index spx rising 016 to 383139 and the dow jones industrial average djia falling 042 to 3096782 the stocks fall snapped a twoday winning streak nrg energy inc closed 1023 below its 52week high 4782 which the company reached on may 26th the stock underperformed when compared to some of its competitors tuesday as nextera energy inc nee fell 180 to 7911 duke energy corp duk fell 299 to 10634 and southern co so fell 317 to 7082 trading volume 28 m remained 12 million below its 50day average volume of 40 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

sage group plc sge shares inched down 092 to £930 wednesday on what proved to be an allaround dismal trading session for the stock market with the ftse 100 index ukx falling 136 to 756163 sage group plc closed 2180 pence below its 52week high £952 which the company achieved on july 27 trading volume 15 m remained 22 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

european companies across sectors and markets are citing the effects of supply chain issues in their latest earnings reports with some expecting pandemicrelated disruptions supply bottlenecks and a shortage of semiconductors to stretch into the new year below is a roundup of comments made by european companies on supplychain issues german chemicals company basf se posted higher sales in the third quarter citing significantly higher prices due to strong demand alongside low product availability and higher prices for raw materials however it conceded that production and supplychain disruptions due to hurricanes in the us and raw material shortages harmed product market availability basf assumes that supply bottlenecks will continue to negatively impact the global economic recovery in the fourth quarter of 2021 it said wednesday french energymanagement company schneider electric se said wednesday that pressure in global supply chains such as from component shortages increased in the third quarter and are unlikely to abate for at least another two or three quarters the company expects it will continue to face higher input costs for raw materials freight and the sourcing of electronic components despite the stabilization of some commodity prices in the third quarter we continue to operate in an increasingly constrained supply chain environment globally resulting in shortages and increased input and freight costs which we continue to manage with our customers and suppliers against this backdrop we confirm our full year targets said chief executive jeanpascal tricoire german sportinggoods company puma se said wednesday that gross profit margin in the third quarter climbed but it confirmed that higher freight rates had a negative effect as a result of the longerthanexpected lockdown in south vietnam as well as port congestion and container shortages the industry faces delays which are having a negative impact on pumas product supply in the shortterm puma will continue to maneuver through these challenges by building on its brand momentum and operational flexibility the company said italian aperitif maker davide camparimilano nv said tuesday that sales in asia pacific rose 30 organically in the first nine months with australian sales up 57 however it attributed a normalizing trend in the third quarter to an unfavourable comparison base snap lockdowns in the country and some supply constraints regarding the outlook for the rest of the year we expect the positive brand momentum and favorable sales mix to continue in the last quarter helping to partially offset the intensifying input cost pressure particularly logistics costs accelerated brand building investments as well as structure costs phasing looking beyond the current year whilst uncertainty remains in connection with the evolution of the pandemic and its induced effects such as logistic constraints and intensified input cost pressure albeit mitigated by the improving outlook for agave we remain confident of our solid business momentum chief executive bob kunzeconcewitz said swedish homeappliance manufacturer electrolux ab said wednesday that supplychain constraints hit production output by an estimated 10 during the third quarter and will become even more challenging in the fourth quarter the tight conditions for electronics and ocean freight also led to significant temporary cost increases such as express logistics and spot buys of about sek300 million that could not be fully offset in the short term in particular our north american business area was affected since the congestion at important us ports amplified the supply constraints in addition to a negative impact on volumes and mix the business area also faced higher costs driven by the use of more express logistics and high production inefficiency caused by limited planning visibility said chief executive jonas samuelson we continue to have a tight collaboration with suppliers to mitigate global supply shortages but we estimate that the fourth quarter will be even more challenging than the third quarter although we anticipate sequential improvements in 2022 we expect challenging conditions to remain in meeting continued strong demand he added swedens lock maker assa abloy ab said wednesday that material shortages supplychain challenges and higher costs will continue to harm its markets for the rest of the year thanks to several price adjustments and operational improvements we achieved an operating leverage of 22 despite the significantly higher material costs higher logistical costs and operational challenges linked to component shortages chief executive nico delvaux said we also assume material shortages logistic challenges and cost inflation to continue to impact our markets during the rest of the year mr delvaux added londonbased book publisher bloomsbury publishing plc said wednesday that pretax profit for the first half of fiscal 2022 rose nearly fourfold with revenue up 29 the company said it mitigated print supply chain challenges in the first half as it printed well in advance of its usual peaks in the runup to christmas and the beginning of the academic year in the fall retailers and online booksellers have significantly increased stock levels over previous years to ensure they have sufficient stock for christmas given the supply chain problems our firsthalf revenues have therefore been boosted by customers ordering earlier than in previous years the company said it said it is confident of achieving market expectations for the year ending feb 28 despite supply chain impediments

rollsroyce holdings plc rr shares inched up 033 to £152 tuesday on what proved to be an allaround rough trading session for the stock market with the ftse 100 index ukx falling 018 to 776409 rollsroyce holdings plc closed 835 pence short of its 52week high £160 which the company achieved on march 9

shares of arista networks inc anet shed 050 to 12086 monday on what proved to be an allaround poor trading session for the stock market with the sp 500 index spx falling 075 to 387198 and dow jones industrial average djia falling 039 to 3273295 the stocks fall snapped a twoday winning streak arista networks inc closed 2771 below its 52week high 14857 which the company reached on december 27th the stock demonstrated a mixed performance when compared to some of its competitors monday as microsoft corp msft fell 159 to 23213 cisco systems inc csco fell 046 to 4543 and hp inc hpq fell 153 to 2762 trading volume 33 m eclipsed its 50day average volume of 21 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

market participants returned from their summer holidays apparently undaunted by the consistent and persistent message from central bank officials that shortterm policy interest rates must be lifted significantly further to bring inflation to heel us stocks broke their threeweek losing streak with the sp 500 index adding 365 even as the probability of a 75basispoint hike in the federalfunds target at the sept 2021 federal reserve policy meeting climbed to 90 by friday from a bit more than even money a week earlier according to the cme fedwatch site that followed a similarsize boost by the european central bank this past week and expectations of a further increase of 50 or 75 basis points in the bank of england’s policy rate at its sept 22 meeting which was postponed a week owing to the death of queen elizabeth ii a basis point is 1100th of a percentage point

shares of snclavalin group inc snc shed 348 to c4025 friday in what proved to be an otherwise allaround favorable trading session for the canadian market with the sptsx composite index gsptse rising 057 to 2023604 snclavalin group inc closed c168 below its 52week high c4193 which the company achieved on august 3rd trading volume of 561303 shares eclipsed its 50day average volume of 219894 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 quest diagnostics inc dgx inched 010 higher to 13162 monday on what proved to be an allaround mixed trading session for the stock market with the sp 500 index spx rising 002 to 419263 and the dow jones industrial average djia falling 042 to 3328658 this was the stocks second consecutive day of gains quest diagnostics inc closed 2672 below its 52week high 15834 which the company reached on december 29th the stock demonstrated a mixed performance when compared to some of its competitors monday as unitedhealth group inc unh rose 038 to 48062 iqvia holdings inc iqv rose 117 to 20177 and centene corp cnc fell 031 to 6520 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

bear market isnt over but markets are unlikely to see new lows in 2023 says morgan stanleys wilson mike wilson morgan stanley chief investment officer joins the halftime report to offer his technical rally call and market expectations for 2023

the stock market tanked monday morning with the sp 500 falling back into bear market territory as investors nervously look ahead to the federal reserve’s upcoming policy meeting with last week’s recordhigh inflation reading leading to a spike in recession fears stocks added to losses after a major selloff on friday the dow jones industrial average lost 21 nearly 700 points while the sp 500 dropped 22 and the techheavy nasdaq composite 27 the benchmark sp 500 is on track to hit a new low point for 2022 falling back into bear market territory on monday and down more than 20 from its record high at the start of the year markets continued to take a hit after the labor department reported that inflation unexpectedly returned to record highs last month spiking 86 compared to a year ago and adding to fears of a possible recession investors are now nervously looking ahead to the federal reserve’s upcoming policy meeting later this week with expectations that the central bank will raise interest rates by at least a halfpercentage point—if not more—amid growing urgency to combat surging consumer prices rates on government bonds surged on monday amid the negative investor sentimentthe shortterm 2year treasury yield jumped to over 32—its highest level since 2007 while also at one point trading above the 10year treasury note a socalled yield curve inversion which typically indicates a looming recession the cryptocurrency market saw a huge selloff on monday with the price of bitcoin plunging to its lowest point in nearly two years falling below 24000 as investors dumped risky assets amid rising rates “the brief window of hope that opened in the back half of may as it looked like us inflationfed tightening forecasts were hitting a peak and china was reopening has snapped violently shut” says vital knowledge founder adam crisafulli with investors now “back to wallowing in a hole of despair following the huge cpi on friday” what to watch for “concerns over inflation and its impact on economic growth have become heightened over the last several days and unlike prior periods in recent history where growth has come into question with inflation pressures as strong as they are there is little optimism that the fed can help to cushion the blow” according to bespoke investment group all three major averages recently wrapped up their worst down week since january falling by roughly 5 or more the majority of last week’s losses came on friday after hotterthanexpected inflation data spooked markets and raised recession fears with the dow plunging nearly 900 points in one day dow plunges nearly 900 points after ‘very troubling’ inflation report fuels fears of impending recession forbes inflation unexpectedly spiked 86 in may—hitting 40year high as gas prices surge again forbes

shares of eastman chemical co emn inched 063 higher to 11893 monday on what proved to be an allaround favorable trading session for the stock market with the sp 500 index spx rising 189 to 451555 and the dow jones industrial average djia rising 117 to 3513186 the stocks rise snapped a twoday losing streak eastman chemical co closed 1154 short of its 52week high 13047 which the company reached on june 1st the stock underperformed when compared to some of its competitors monday as exxon mobil corp xom rose 090 to 7596 3m co mmm rose 179 to 16602 and fmc corp fmc rose 172 to 11037 trading volume 13 m eclipsed its 50day average volume of 13 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 quest diagnostics inc dgx sank 063 to 13055 tuesday on what proved to be an allaround grim trading session for the stock market with the sp 500 index spx falling 101 to 430476 and dow jones industrial average djia falling 142 to 3359661 quest diagnostics inc closed 4361 short of its 52week high 17416 which the company reached on december 31st the stock demonstrated a mixed performance when compared to some of its competitors tuesday as laboratory corp of america holdings lh rose 078 to 26652 qiagen nv qgen rose 107 to 4920 and sonic healthcare ltd adr skhhy fell 449 to 2557 trading volume 11 m remained 192561 below its 50day average volume of 13 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 air carriers fell to start july after seeing big gains in june even after data showing that there were more fliers to start the july 4 weekend than in any day in prepandemic 2019 data from transportation security administration showed that 2884683 people went through tsa checkpoints on june 30 which topped the highest oneday total in 2019 of 2882915 on nov 27 delta air lines inc’s stock dal slipped 03 in premarket trading monday after it bested it’s rivals with a june gain of 309 the best onemonth gain since it ran up 314 in november 2020 shares of american airlines group inc aal eased 05 ahead of monday’s open after climbing 214 in june and united airlines holdings inc shares ual gave up 07 premarket after ascending 156 in june jetblue airways corp’s stock jblu gave up 05 after hiking up 297 in june to produce its biggest monthly gain since it soared 351 in april 2009 southwest airlines co shares luv which rose 212 in june the best monthly performance since the 323 rally in february 2021 inched 01 lower in monday’s premarket meanwhile futures es00 for the sp 500 spx eased 01 after the index gained 65 in june

shares of united airlines holdings inc ual plunged 1501 to 3120 monday on what proved to be an allaround rough trading session for the stock market with the sp 500 index spx falling 295 to 420109 and dow jones industrial average djia falling 237 to 3281738 this was the stocks third consecutive day of losses united airlines holdings inc closed 3250 below its 52week high 6370 which the company reached on march 18th the stock underperformed when compared to some of its competitors monday as southwest airlines co luv fell 858 to 3719 delta air lines inc dal fell 1278 to 3011 and american airlines group inc aal fell 1199 to 1284 trading volume 450 m eclipsed its 50day average volume of 128 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 broadridge financial solutions inc br slid 108 to 14769 monday on what proved to be an allaround grim 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 losses broadridge financial solutions inc closed 3771 below its 52week high 18540 which the company reached on december 28th the stock demonstrated a mixed performance when compared to some of

shares of citigroup inc c slid 120 to 4709 tuesday on what proved to be an allaround positive trading session for the stock market with the sp 500 index spx rising 028 to 456746 and the dow jones industrial average djia rising 008 to 3543807 citigroup inc closed 747 below its 52week high 5456 which the company achieved on august 16th the stock demonstrated a mixed performance when compared to some of its competitors tuesday as jpmorgan chase co jpm fell 075 to 15682 bank of america corp bac fell 153 to 3215 and wells fargo co wfc fell 202 to 4548 trading volume 140 m remained 18 million below its 50day average volume of 158 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

the federal reserve is looking into trades that raphael bostic the head of the central banks atlanta district made during restricted periods in the wake of disclosures that there were several incidents over the past several years in which bostics investment activity violated fed restrictions and blackout periods the central bank said its office of inspector general would be reviewing the matter further we welcome this review and will cooperate fully to ensure this matter is effectively resolved the atlanta fed said in a statement this is breaking news please check back for updates

cnbcs jim cramer said on friday hes looking at this weeks stock market drop as a buying opportunity were trying to figure out what the heck to buy not what to sell cramer said on squawk on the street as the dow jones industrial average the sp 500 and the nasdaq were all falling more than 1 i am looking and looking and looking he added a short time later cramer told his cnbc investing club members that he added to his charitable trust holding in boeing which now makes up more than 25 of the portfolio the mad money host feels theres still a good chance of getting a socalled santa claus rally saying on tv that historically rallying into yearend has basically been a perfect call since 2008 for other ideas on what to buy cramer said take a look at the banks take a look at the chip stocks take a look at the oils theyre all starting to act better maybe you put some on today and put some on monday i like it cramer also told club members he would be buying more shares of chevron for the trust if he werent prohibited from doing so the trust is restricted from trading any stock that cramer mentions on tv for three full days i like the fact that everybody got so negative cramer said on squawk on the street referring to thursdays slide which rolled into friday by midday the dow was taking it on the chin the sp 500 was lower and the nasdaq was outperforming thursdays nearly 25 decline the stumble into the end of the week comes as stocks finished sharply higher wednesday after wall street seemed ok with the federal reserves decision to accelerate its bondbuying taper and to signal three interest rate hikes next year the sp 500 which traded above last weeks record close at one point thursday ended the day nearly 1 away from that level the dow on thursday ended the session nearly 15 away from last months record close the nasdaq ended thursday nearly 55 away from last months record close sign up now for the cnbc investing club to follow jim cramers every move in the market

the stock market snapped a threeyear winning streak in 2022 and while investors were battered on many fronts the roaring bear market might be summed up best in three words inflation rates and recession with prices rising at the fastest pace in 40 years the federal reserve and other central banks aggressively tightened monetary policy the result was a painful series of interestrate hikes that hammered stock valuations and raised fears of recession that in turn fueled a selloff that claimed the technology sector darlings of the past decade as its greatest casualty

in the current market session charles schwab inc nyseschw is trading at 9345 after a 144 drop however over the past month the stock spiked by 1140 and in the past year by 5906 shareholders might be interested in knowing whether the stock is overvalued even if the company is not performing up to par in the current session assuming that all other factors are held constant this could present itself as an opportunity for shareholders trying to capitalize on the higher share price the stock is currently under from its 52 week high by 168 the pe ratio measures the current share price to the companys eps it is used by longterm investors to analyze the companys current performance against its past earnings historical data and aggregate market data for the industry or the indices such as sp 500 a higher pe indicates that investors expect the company to perform better in the future and the stock is probably overvalued but not necessarily it also shows that investors are willing to pay a higher share price currently because they expect the company to perform better in the upcoming quarters this leads investors to also remain optimistic about rising dividends in the future depending on the particular phase of a business cycle some industries will perform better than others charles schwab inc has a better pe ratio of 3592 than the aggregate pe ratio of 1559 of the capital markets industry ideally one might believe that charles schwab inc might perform better in the future than its industry group but its probable that the stock is overvalued there are many limitations to price to earnings ratio it is sometimes difficult to determine the nature of the earnings makeup of a company shareholders might not get what theyre looking for from trailing earnings

shares of lowes cos low shed 459 to 20949 wednesday on what proved to be an allaround poor trading session for the stock market with the sp 500 index spx falling 063 to 460245 and dow jones industrial average djia falling 019 to 3522881 the stocks fall snapped a twoday winning streak lowes cos closed 5382 short of its 52week high 26331 which the company reached on december 13th the stock underperformed when compared to some of its competitors wednesday as home depot inc hd fell 291 to 30846 and kingfisher plc adr kgfhy fell 348 to 694 trading volume 71 m eclipsed its 50day average volume of 40 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 ford motor co f slipped 515 to 1474 tuesday on what proved to be an allaround rough trading session for the stock market with the sp 500 index spx falling 432 to 393269 and dow jones industrial average djia falling 394 to 3110497 ford motor co closed 1113 short of its 52week high 2587 which the company achieved on january 13th the stock underperformed when compared to some of its competitors tuesday as tesla inc tsla fell 404 to 29213 toyota motor corp adr tm fell 332 to 14023 and bayerische motoren werke ag adr bmwyy fell 360 to 2465 trading volume 805 m eclipsed its 50day average volume of 625 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

on cnbc’s mad money lightning round jim cramer recommended selling everbridge inc evbg as it does not make money when asked about costamare inc cmre cramer said i do not want you to touch any of these stocks the mad money host said he prefers draftkings dkng over penn entertainment inc penn cramer said harmonic inc hlit is selling way too high on a pricetoearnings multiple for me to recommend when there’s so many cheaper stocks out there tellurian inc tell remains a very good spec at 2 cramer said also read is iphone demand really slowing down apple analyst says this data point proves otherwise cramer said zim integrated shipping services ltd zim is probably not even done going down he added i think the shipping business is a terrible business when asked about cloudflare inc net cramer said it is okay to buy i know that’s a tough call but i do believe it cramer said he doesn’t like monolithic power systems inc mpwr ginkgo bioworks holdings inc dna is an interesting spec he said

shares of manulife financial corp mfc dropped 285 to c2315 monday in what proved to be an allaround poor trading session for the canadian market with the sptsx composite index gsptse falling 068 to 1997492 this was the stocks second consecutive day of losses manulife financial corp closed c494 below its 52week high c2809 which the company reached on february 10th trading volume of 281 m shares eclipsed its 50day average volume of 71 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

america’s largest public pension recently initiated positions in analyticsoftware firms palantir technologies ticker pltr and snowflake snow while buying more berkshire hathaway brkb stock california public employees’ retirement system also exited an investment in chinese ecommerce giant jdcom jd the pension known as calpers disclosed the stock trades among others in a form it filed with the securities and exchange commission

the real estate investment platform fundrise announced that it recently acquired 146 rental homes in the treeline trails community of jacksonville florida the purchase was made by a joint venture between two fundrisesponsored funds the fundrise interval fund which was backed by goldman sachs group inc gs last year with a 300 million credit facility and the growth ereit vii the joint venture acquired the community for approximately 559 million and according to fundrise approximately 90 of the homes were already occupied at the time of acquisition unlike the wall street funds that have been purchasing large portfolios of rental properties throughout the country the fundrise interval fund was designed for retail investors allowing nonaccredited investors to participate with as little as 10 through a reg a offering the company has been investing heavily in the singlefamily rental space especially in sunbelt states such as florida so far in 2022 fundrise has purchased at least 467 singlefamily rental homes across florida south carolina arizona and las vegas a portfolio update posted on the fundrise website about the latest acquisition states “at a strategic level this investment fits within our affordablypriced sunbelt apartment rental housing thesis from millennials to retirees a broad group of americans has been taking part in a migration from northern to southern states over the past decade driving continued demand for wellpriced welllocated real estate and supporting steady returns for disciplined investors” the community of homes in jacksonville was acquired from mainstreet renewal which completed construction at the community in december 2021 the community consists of three four and fivebedroom homes each with its own attached garage and fenced yard according to data from redfin singlefamily homes in jacksonville have increased in value by 255 yearoveryear housing tides shows a 204 yearoveryear increase in rent price for the area with the addition of 15300 households in the last 12 months discover private equity real estate investments with benzinga’s real estate offering screener and browse available investment opportunities based on your selected criteria

shares of parker hannifin corp ph inched 047 higher to 31001 monday on what proved to be an allaround favorable trading session for the stock market with the sp 500 index spx rising 189 to 451555 and the dow jones industrial average djia rising 117 to 3513186 the stocks rise snapped a twoday losing streak parker hannifin corp closed 2497 short of its 52week high 33498 which the company achieved on november 15th the stock underperformed when compared to some of its competitors monday as danaher corp dhr rose 166 to 28579 rockwell automation inc rok rose 162 to 28922 and dover corp dov rose 172 to 16991 trading volume 729376 eclipsed its 50day average volume of 684299 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 pfizer inc pfe rallied 175 to 4949 tuesday on what proved to be an allaround mixed trading session for the stock market with the sp 500 index spx rising 025 to 400105 and the dow jones industrial average djia falling 026 to 3216074 pfizer inc closed 1222 below its 52week high 6171 which the company achieved on december 20th the stock outperformed some of its competitors tuesday as johnson johnson jnj fell 014 to 17709 merck co inc mrk rose 019 to 8781 and novartis ag adr nvs rose 109 to 8439 trading volume 273 m remained 848071 below its 50day average volume of 282 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

lbg media plc said wednesday that earnings fell in 2022 as the tough economic environment hit advertising spending and that chief financial officer tim croston has decided to retire the londonlisted digital media publisher said adjusted earnings before interest taxes depreciation and amortizationwhich strips out exceptional

shares of home depot inc hd inched 030 higher to 28926 monday on what proved to be an allaround great trading session for the stock market with the sp 500 index spx rising 089 to 395157 and the dow jones industrial average djia rising 120 to 3224458 this was the stocks second consecutive day of gains home depot inc closed 5799 below its 52week high 34725 which the company achieved on december 13th the stock demonstrated a mixed performance when compared to some of its competitors monday as amazoncom inc amzn fell 125 to 9771 walmart inc wmt rose 108 to 14090 and lowes cos low fell 029 to 19679 trading volume 37 m remained 177723 below its 50day average volume of 39 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 automatic data processing inc adp inched 027 higher to 20740 wednesday on what proved to be an allaround grim trading session for the stock market with the sp 500 index spx falling 013 to 375989 and dow jones industrial average djia falling 015 to 3048313 this was the stocks third consecutive day of gains automatic data processing inc closed 4156 short of its 52week high 24896 which the company achieved on december 29th the stock demonstrated a mixed performance when compared to some of its competitors wednesday as accenture plc cl a acn rose 130 to 28640 intuit inc intu rose 090 to 38084 and paychex inc payx fell 056 to 11563 trading volume 15 m remained 363481 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

shares of northrop grumman corp noc slid 174 to 46827 tuesday on what proved to be an allaround mixed trading session for the stock market with the sp 500 index spx remaining mostly unchanged at 410894 and the dow jones industrial average djia rising 029 to 3368479 northrop grumman corp closed 8800 short of its 52week high 55627 which the company achieved on october 28th the stock demonstrated a mixed performance when compared to some of its competitors tuesday as raytheon technologies corp rtx rose 010 to 9972 boeing co ba rose 073 to 21232 and lockheed martin corp lmt fell 179 to 48784 trading volume 651698 remained 303030 below its 50day average volume of 954728 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

sao paulobrazils b3 stock exchange lowered the limit for a drop in americanas sas shares after the brazilian retailer said wednesday after the close of trading that it had uncovered an accounting gap of about 39 billion the stock exchange said its change to the trading limit on americanas shares which permitted a share decline of 99 from a previous limit of 75 is in effect only for thursdays session after the accounting inconsistencies were uncovered americanas chief executive officer sergio rial and its chief financial officer andre covre both resigned while executive joao guerra took over as interim ceo

shares of general motors co gm slipped 340 to 3127 wednesday on what proved to be an allaround great trading session for the stock market with the sp 500 index spx rising 036 to 384508 and the dow jones industrial average djia rising 023 to 3103768 the stocks fall snapped a twoday winning streak general motors co closed 3594 below its 52week high 6721 which the company reached on january 5th the stock underperformed when compared to some of its competitors wednesday as tesla inc tsla fell 057 to 69520 toyota motor corp adr tm fell 119 to 15283 and honda motor co ltd adr hmc fell 089 to 2340 trading volume 171 m remained 513193 below its 50day average volume of 176 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

cppgroup said tuesday that revenue for the first half rose around 22 from the 778 million pounds 1017 million reported in the yearprior period and that despite recent currency headwinds it continued to record good revenue growth in its key indian and turkish markets the londonlisted provider of assistance and insurance products said earnings before interest taxes depreciation and amortization are expected to be flat on the year priors restated gbp29 million the company said blink parametric its insurtech business focused on the travel sector secured a number of new clients in the uk european and north american markets and that it had achieved a 100 renewal rate from existing customers growth renewals and new client wins in blink provide strong evidence that our strategy and approach is appropriate and more importantly starting to deliver positive outcomes though at a somewhat more measured pace than originally expected it said cppgroup said its change management program was at the implementation stage and will see the company exiting its legacy businesses and focus on growing blinks indian and turkish operations as expected the legacy closure activity will lead to substantial exceptional provisions in both the interim and full year results it said

indias trade deficit in goods widened on year in december as a decline in exports outweighed a smaller fall in imports the trade deficitthe difference between exports and importswas 2376 billion in december compared with a 2106 billion deficit the same month a year earlier government data showed monday indias exports declined by 122 on year to 3448 billion in a sign of global waning demand as the global economy slows amid rapidly rising interest rates imports also fell albeit at a lesser pace of 35 to 5824 billion

if the only thing you know about sports is who wins and who loses you are missing the highest stakes action of all the business owners that power this multibillion dollar industry are changing and a new era of the business of sports is underway from media and technology to finance and real estate leagues and teams across the globe have matured into far more than just back page entertainment and the decisions they make have huge consequences not just for the bottom line but for communities cities even entire countries

american airlines stock was taking off thursday buoyed by the air carrier’s forecast of returning to profitability as early as the second quarter of 2022 for the first quarter of 2022 american ticker aal posted a loss of 252 a share excluding special items the company posted a loss of 232 a share narrower than estimates that called for a loss of 239 revenue was 89 billion above wall street forecasts for 879 billion and in line with american’s preliminary results that guided for 889 billion in revenue

shares of canopy growth corp weed advanced 216 to c142 friday in what proved to be an allaround favorable trading session for the canadian market with the sptsx composite index gsptse rising 001 to 2041962 canopy growth corp closed c658 below its 52week high c800 which the company reached on may 16th trading volume of 21 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

shares of royal bank of canada ry rallied 122 to c13157 tuesday in what proved to be an allaround positive trading session for the canadian market with the sptsx composite index gsptse rising 188 to 2092487 the stocks rise snapped a twoday losing streak royal bank of canada closed c266 below its 52week high c13423 which the company reached on august 25th trading volume of 29 m shares remained below its 50day average volume of 39 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 shed 171 to 5113 tuesday on what proved to be an allaround mixed trading session for the stock market with the sp 500 index spx rising 016 to 383139 and the dow jones industrial average djia falling 042 to 3096782 the stocks fall snapped a twoday winning streak american international group inc closed 1460 below its 52week high 6573 which the company achieved on april 21st despite its losses the stock outperformed some of its competitors tuesday as prudential plc adr puk fell 718 to 2365 arch capital group ltd acgl fell 329 to 4444 and american financial group inc afg fell 290 to 13847true trading volume 40 m remained 17 million 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

shares of jb hunt transport services inc jbht slipped 029 to 17629 tuesday on what proved to be an allaround rough trading session for the stock market with the sp 500 index spx falling 020 to 399097 and dow jones industrial average djia falling 114 to 3391085 this was the stocks third consecutive day of losses jb hunt transport services inc closed 4189 short of its 52week high 21818 which the company achieved on march 16th the stock underperformed when compared to some of its competitors tuesday as old dominion freight line inc odfl fell 024 to 31458 trading volume 12 m eclipsed its 50day average volume of 670674 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

sao paulo dec 8 reuters nubank has evolved in seven years from a fintech to one of latin americas biggest credit card issuers now on the brink of an ipo that could make it the regions largest listed bank but nubanks unique purple nofee credit card has not only lured 48 million clients mainly among brazilians longused to hefty charges it has also spawned a host of imitations among competitors who now threaten to knock it off its perch in the prospectus for its new york stock exchange initial public offering ipo nubank said one of its challenges is to increase the number of products sold per client brazils biggest banks generate annual revenue per client at a rate that is ten times higher than nubank the fintech said in all some 15 competitors including traditional banks like itau unibanco holding sa itub4sa and other fintechs backed by foreign investors are making nubanks once trailblazing offerings commonplace for consumers thats a potential sticking point for investors as nubank prepares to list this thursday on the new york stock exchange a recent selloff in tech stocks has already made markets less forgiving on valuations prompting nubank to slash its ipo valuation by 20 it is also boosting its reliance on certain existing and new investors like softbank latin america funds to buy at least 13 billion in shares or half the ipo deal some investors faith in nubank and other latin american fintechs has also been shaken by the woes of once highflying payments firm stoneco ltd stneo whose shares are down 80 this year after a recent failed push into lending now investors want to see clear signs of how a fintech will monetize its clients without much room for dreams said fabio fonseca a partner at rio de janeirobased asset manager jgp gestão de recursos overseas interest in brazil includes jpmorgan jpmn in june acquiring a 40 stake in digital lender c6 bank with more than 12 million clients private equity firm general atlantic financing two capital increases in neon since 2019 while japans softbank 9984t has a 15 stake in banco inter as well as growing competition an increasing number of investors are asking how nubank which has backing from warren buffetts berkshire hathaway brkan chinas tencent holdings and venture capital investors such as sequoia capital is going to monetize its giant client base nubank declined to comment on future growth or risks since launching its credit card which remains its main product in 2014 nubank has added to its portfolio including nofee checking accounts in 2017 debit cards and personal loans in 2018 and checking accounts for small companies in 2019 more recently it has bet on acquisitions and partnerships this year it bought broker easynvest to offer investment products and partnered with softbankbacked fintech creditas to make loans secured by assets like homes cars and salaries nubanks zero fees for credit card and checking accounts has been copied by both upstarts and incumbents making competition fiercer since 2015 the number of credit cards in brazil has risen by 57 to 1338 million in 2020 central bank data shows this means that nubanks ipo is not only being watched as a signal for other startups but also by central banks in the region who want to bring more competition to the banking sector and reduce loan and service prices in brazil for instance the topfive banks account for nearly 80 of outstanding loans and although they are feeling the heat from fintechs they are fighting back itau latin americas biggest bank for example has even offered to drop credit card fees for many existing clients this year calling up consumers to offer nofee charge cards this has succeeded in cutting the rate of card cancellations by half a source familiar with the situation said that means clients stay longer with the bank and generate more transaction fees for itau from card processors like visa and mastercard helped by such moves and loan offerings backed by their mammoth balance sheets brazils topthree privatesector banks itau bradesco and santander brasil added clients to their businesses and kept their return on equity above 18 this year nubanks 451 million purchase of easynvest is interpreted by some analysts and investors as a sign that it may be trying to move upmarket and collect more fees during its ipo roadshow nubank has told investors that its retail loan book could approach itaus in around five years that would mean it jumping to 450 billion reais from 264 billion reais it has also said it will double its clients to 100 million and expand beyond latin america where brazil accounts for 98 of revenue after it added mexico and colombia in the last two years nubank is already an investor in indian fintech jupiter nubanks valuation implies that it will grow absurdly and make no mistakes on its way equity analyst stefan darakdjian at asset manager meraki said adding there was a chance it could pull off such a valuation given that it is the regions biggest disruptor the new kid on the block has so far been able to assess client risk better than established banks its 90day default ratio ended september at 33 or 31 lower than brazils average ratio but investors say the fintech has never experienced a severe economic downturn since building up a sizeable loan book nubank declined to comment on the question of its loan books vulnerability to a downturn nagging questions about growth and risk signal a potentially tough sell for the closelywatched ipo as investors seek more concrete signs that fintechs can show consistent profits although nubank posted a net loss of 528 million reais 94 million in the first nine months of 2021 at the upper end of its ipo range it could hit a 41 billion market valuation which means it would trade at some nine times book value considering it may raise 26 billion in the ipo that is lower than indias one 97 communications paytns the parent of fintech paytm which after a bruising debut is trading at 18 times book value but both companies are likely to be valued close in terms of price to revenues in the last 12 months at 33 times compared with the book value of brazils lucrative incumbent banks which trade at a fraction of that nubanks valuation looks a long shot when you analyze market multiples it makes no sense but investors are buying its future performance and itau and bradesco offer limited growth prospects carlos macedo at cortex consultoria said reporting by carolina mandl editing by christian plumb and alexander smith

shares of estee lauder cos cl a el shed 172 to 32537 wednesday on what proved to be an allaround grim trading session for the stock market with the sp 500 index spx falling 051 to 455168 and dow jones industrial average djia falling 074 to 3549069 the stocks fall snapped a fourday winning streak estee lauder cos cl a closed 2245 short of its 52week high 34782 which the company reached on september 2nd the stock underperformed when compared to some of its competitors wednesday as procter gamble co pg fell 071 to 14183 unilever plc adr ul fell 085 to 5354 and beiersdorf ag adr bdrfy fell 049 to 2231 trading volume 771847 remained 343255 below its 50day average volume of 11 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 ebay inc ebay rallied 390 to 3867 tuesday on what proved to be an allaround positive trading session for the stock market with the sp 500 index spx rising 306 to 379093 and the dow jones industrial average djia rising 280 to 3031632 this was the stocks second consecutive day of gains ebay inc closed 4252 short of its 52week high 8119 which the company achieved on october 22nd the stock demonstrated a mixed performance when compared to some of its competitors tuesday as amazoncom inc amzn rose 450 to 12109 walmart inc wmt rose 130 to 13425 and costco wholesale corp cost rose 176 to 48613 trading volume 81 m eclipsed its 50day average volume of 54 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 fortune brands home security inc fbhs advanced 169 to 9732 monday on what proved to be an allaround favorable trading session for the stock market with the sp 500 index spx rising 023 to 446873 and the dow jones industrial average djia rising 076 to 3486963 fortune brands home security inc closed 1669 short of its 52week high 11401 which the company reached on may 10th the stock outperformed some of its competitors monday as masco corp mas rose 054 to 5986 armstrong world industries inc awi rose 148 to 9964 and american woodmark corp amwd rose 103 to 6643 trading volume 807529 eclipsed its 50day average volume of 616547 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

tesla shares brutal reaction to betterthanexpected fourthquarter numbers was the chance one analyst needed to upgrade its stock the upgrade has shares moving in premarket trading tesla ticker tsla stock was rising 19 to 862 a share sp 500 and dow jones industrial average futures were down 01 and 04 respectively

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shares of canadian apartment properties real estate investment trust un carut slipped 170 to c4858 wednesday in what proved to be an otherwise allaround positive trading session for the canadian market with the sptsx composite index gsptse rising 019 to 2025978 canadian apartment properties real estate investment trust un closed c741 short of its 52week high c5599 which the company achieved on march 22nd trading volume of 369183 shares remained below its 50day average volume of 393102 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 norwegian cruise line holdings ltd nclh rallied 155 to 1311 thursday on what proved to be an allaround great trading session for the stock market with the sp 500 index spx rising 176 to 396028 and the dow jones industrial average djia rising 117 to 3224655 the stocks rise snapped a sevenday losing streak norwegian cruise line holdings ltd closed 1032 below its 52week high 2343 which the company reached on april 5th the stock demonstrated a mixed performance when compared to some

shares of amc entertainment holdings inc cl a amc slid 091 to 2278 monday on what proved to be an allaround mixed trading session for the stock market with the nasdaq composite index comp rising 005 to 1494283 and the dow jones industrial average djia falling 045 to 3606887 amc entertainment holdings inc cl a closed 4984 short of its 52week high 7262 which the company reached on june 2nd trading volume 376 m remained 58 million below its 50day average volume of 434 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 hologic inc holx rose 155 to 7610 thursday on what proved to be an allaround favorable trading session for the stock market with the sp 500 index spx rising 175 to 384928 and the dow jones industrial average djia rising 105 to 3322080 hologic inc closed 439 short of its 52week high 8049 which the company reached on april 8th the stock demonstrated a mixed performance when compared to some of its competitors thursday as johnson johnson jnj rose 051 to 17756 abbott laboratories abt rose 230 to 11031 and medtronic plc mdt rose 198 to 7781 trading volume 750100 remained 814140 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

shares of home depot inc hd inched 055 higher to 30160 wednesday on what proved to be an allaround great trading session for the stock market with the sp 500 index spx rising 021 to 418396 and the dow jones industrial average djia rising 019 to 3330193 home depot inc closed 11901 below its 52week high 42061 which the company achieved on december 6th the stock outperformed some of its competitors wednesday as lowes cos low fell 001 to 19957 and kingfisher plc adr kgfhy fell 032 to 622 trading volume 34 m remained 18 million below its 50day average volume of 52 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

jpmorgan chase co is nearing a deal to pay a 200 million fine and admit that it failed to properly monitor employees’ messages the first settlement to emerge from a regulatory sweep into how banks oversee traders’ chats the investigations by the securities and exchange commission and commodity futures trading commission focused on concerns that the bank didn’t have an adequate system for retaining the chats according to people familiar with the matter banks are supposed to retain employees’ communications particularly those related to customer dealings and provide the information to regulators when requested

shares of marathon petroleum corp mpc slipped 324 to 8174 tuesday on what proved to be an allaround mixed trading session for the stock market with the sp 500 index spx rising 016 to 383139 and the dow jones industrial average djia falling 042 to 3096782 marathon petroleum corp closed 3261 below its 52week high 11435 which the company reached on june 8th the stock demonstrated a mixed performance when compared to some of its competitors tuesday as exxon mobil corp xom fell 313 to 8481 chevron corp cvx fell 263 to 14266 and bp plc adr bp fell 400 to 2715 trading volume 72 m remained 9492 below its 50day average volume of 73 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 west pharmaceutical services inc wst advanced 147 to 34979 monday on what proved to be an allaround great trading session for the stock market with the sp 500 index spx rising 010 to 410911 and the dow jones industrial average djia rising 030 to 3358652 the stocks rise snapped a twoday losing streak west pharmaceutical services inc closed 6213 short of its 52week high 41192 which the company reached on april 11th the stock outperformed some of its competitors monday as abbott laboratories abt fell 117 to 10370 becton dickinson co bdx fell 046 to 25353 and baxter international inc bax fell 031 to 4217 trading volume 302022 remained 282510 below its 50day average volume of 584532 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 medtronic plc mdt inched 012 higher to 9531 tuesday on what proved to be an allaround great trading session for the stock market with the sp 500 index spx rising 019 to 430520 and the dow jones industrial average djia rising 071 to 3415201 this was the stocks third consecutive day of gains medtronic plc closed 4058 short of its 52week high 13589 which the company reached on september 9th the stock demonstrated a mixed performance when compared to some of its competitors tuesday as johnson johnson jnj rose 089 to 16757 abbott laboratories abt rose 012 to 11203 and stryker corp syk fell 018 to 22416 trading volume 37 m remained 17 million below its 50day average volume of 54 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

subscribe now to get the evening briefing five things matt levines money stuff balance of power and tech daily subscribe now to get the evening briefing five things matt levines money stuff balance of power and tech daily subscribe now to get the evening briefing five things matt levines money stuff balance of power and tech daily bloomberg may send me offers and promotions by submitting my information i agree to the privacy policy and terms of service nigerian banks are heading for their best quarterly performance in six years as a return to more conventional economic policies and a sharp devaluation of the naira are expected to boost profits in the west african nation banking stocks are up 34 this quarter and headed for the best quarterly performance since 2017 according to data compiled by bloomberg the ngx10 index which tracks the performance of the lenders on the nigerian exchange is up 45 so far this year extending its gain to 54 in the last 52 weeks that compares with a 23 loss on the msci emerging markets europe middle east and africa index over the same period nigeria’s biggest lender by market value access holdings plc contributed the most to the increase advancing 78 since the beginning of the year other top performers include fidelity bank plc which is up 61 and uba plc up 50 lenders in africa’s most populous country trade at a pricetoearnings ratio of 302 on a trailing basis still a discount compared with the 499 average among emergingmarket peers according to data compiled by bloomberg nigerian stocks rallied to a 15year high after president bola tinubu who took power last month removed the country’s central bank governor the architect of unorthodox monetary policies that had deterred local and foreign investors the strong outperformance in financial stocks suggest that equity markets are pricing an end to those policies said wale okunrinboye chief investment officer at access pensions limited in lagos “from a valuation standpoint nigerian assets have been heavily discounted over the last eight years” he said folashodun shonubi who was appointed acting central bank governor has since allowed the naira to trade more freely resulting in a rapid depreciation of the currency by nearly 40 the second biggest loss in the world after the zimbabwe dollar the depreciation will benefit some nigerian banks with large net foreign asset positions including first bank guaranty trust bank zenith uba and access banks according to lagosbased investment banking firm chapel hill these banks are set for “impressive eps expansion potential for investors” on revaluation profits it said the broader nigerian all share index with a total market value of 324 trillion naira 43 billion is up 15 in the past 52 weeks “in the event the tinubu administration is able to deliver on key measures that unlock economic economic growth and great foreign investment there is more room for nigerian stocks to rerate” okunrinboye said

shares of mckesson corp mck slid 271 to 21676 tuesday on what proved to be an allaround poor trading session for the stock market with the sp 500 index spx falling 190 to 456700 and dow jones industrial average djia falling 186 to 3448372 mckesson corp closed 1237 short of its 52week high 22913 which the company achieved on november 24th the stock demonstrated a mixed performance when compared to some of its competitors tuesday as cerner corp cern fell 331 to 7045 amerisourcebergen corp abc fell 373 to 11575 and cardinal health inc cah fell 261 to 4623 trading volume 13 m eclipsed its 50day average volume of 762576 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 in bushveld minerals dropped on friday after it said its majorityowned vrfb holdings has received notice that garnet commerce will exercise an option to buy a 60 stake in enerox holdings at 0811 gmt shares are down 068 pence or 21 at 250 pence the south africafocused vanadium miner holds a 505 interest in vrfb which bought a 50 interest in enerox from garnet in april under the option terms garnet will pay enerox 325 million in return for shares in enerox resulting in garnet holding 60 of the capital while vrfb will hold the remaining 40 londonlisted bushveld said

to the surprise of exactly no one the federal reserve kicked off a new cycle of interestrate hikes last week investors are now braced for rate increases through the rest of 2022 with fed policy makers now expecting six more by yearend at least that’s the ideal scenario if the fed boosts rates fewer than six times it’s a sign the economy is slowing and perhaps headed toward recession yet if the fed needs to boost rates more than that projection and pushes them up in 2023 as well then markets will understand that the inflation genie is refusing to go back into the bottle in either scenario equity markets are bound to slump getting rate policy right slowing the economy just enough but not too much will be a herculean task speaking to clients last week at morgan stanley at work’s virtual financial wellness retreat lisa shalett laid out a series of potential economic landmines that go well beyond fed policy the chief investment officer for morgan stanley’s wealth management unit shalett is keeping close tabs on events in ukraine noting that markets had already been on edge before the russian invasion now “investors are trying to figure out how inflation will be impacted by the sudden surge in commodity prices” she said shalett noted that russia supplies 40 of europe’s oil and 35 of its natural gas “and russia and ukraine are the largest exporters of wheat and corn after the us” she added noting that food and commodity prices may keep inflation at stubbornly higher levels for longer than the fed and markets currently anticipate it’s worth noting that the fed has continually underestimated inflation and may be continuing to do so as part of a prepared statement at last week’s meeting the fomc raised its 2022 expectation for inflation to 43 considering that inflation has been galloping at a torrid clip in the early months of 2022 the fed seems to be suggesting that inflation will sharply decelerate later this year to reach that 43 annual rate yet there are ample reasons to believe that inflation will stay elevated for an extended period beyond the fed and inflation shalett expressed concerns about the impact of the current economic sanctions that have been put in place against russia “we’ve never seen such a massive level of central bank assets being tied up” she said that may not seem like a big concern since the russian economy only represents 3 of global gdp she added yet global bond markets could struggle to digest a large wave of russian bond defaults because many russian bonds are owned in institutional portfolios she predicted that “when some of these debt obligations fail global liquidity will become constrained” many bond fund managers are already marking those bonds down to zero to see how they will affect portfolio derivatives and swaps she added whither the consumer after laying out those concerns shalett shifted gears to the stillresilient us consumer in february americans boosted spending by 03 sequentially though much of that extra spending was eaten up by rising gasoline prices the strength in spending is unusual when you consider that the university of michigan’s index of consumer sentiment fell in early march to 597 the lowest reading in 11 years the fomc will have a chance to assess next month’s spending and sentiment gauges before adjusting interest rates again though as noted another rate hike at the early may meetings is almost baked in the fed acknowledges that the economy has already begun to slow which may complicate its rate hike strategy this past december the fed thought the us economy would grow 40 in 2022 but it recently revised that forecast down to just 28 as rick rieder blackrock ’s chief investment officer of global fixed income and head of the company’s global allocation investment team wrote in a note to clients the fed is now “straddling a very fine line between higher levels of inflation and potentially lower levels of growth” a slowing economy and elevated inflation bring back concerns of stagflation and the prospects of simultaneous drops in both stock and bond prices not all segments of the economy are slowing shalett said that during the pandemic spending was heavily weighted toward goods rather than services as people spent many hours making online purchases with the volume of new covid cases sharply dropping she predicted spending will shift to services such as travel dining out sporting events and other forms of entertainment yet the cio suggested that goods providers may see more of a slowdown than many currently expect “a lot of demand for various goods was pulled forward during the pandemic and that demand may now sharply slow” said shalett we’ve already seen that play out with firms such as peloton getting a fix on fixed income while clients grapple with “confusion and angst” in their equity portfolios said shalett advisors need to also keep close tabs on fixedincome markets “we’ve rarely seen bond markets this volatile” she said adding that advisors and clients are “thrashing between whether a hot economy can absorb rate hikes weighed against the fear that the economy may already be slowing and rate hikes will make that worse” in response to the fed’s quarterpoint interestrate increase last wednesday bond prices slumped and the yield on the 10year treasury bill rose to its highest level since the spring of 2019 the 10year yield retreated somewhat late last week but surged again early monday to 223 shalett said she expected it to keep rising over the next 1218 months until it reaches 25 “which matches longterm inflation expectations” cooler heads prevail while it is important to help clients process anxiety about today’s volatile economic and geopolitical issues shalett insisted it is equally important to help clients to stay focused on the long haul and avoid panic selling “the key to wealthbuilding is to avoid losses” she says “and the best way to do that is to avoid locking in a loss when prices are down” both stock and bond prices could fall further in coming weeks and months which may call for advisors to adapt hedging strategies through the use of commodity funds put options on major indexes and other such moves yet shalett’s suggestion that clients “need to stay invested during troubled times like these” is likely to prove prescient for anyone who does not need to tap into investment accounts any time soon during the economic crisis of 2008 there was an elevated level of selling which many investors later regretted as they sold at market lows “many advisors told me it was due to many clients who demanded they sell” allen roth recently noted at barron’s advisor such pressure from clients is happening again today and it’s our job to help them understand that it is wise not merely to stand firm but also become opportunistic roth wrote that “it’s far better to buy stocks after a decline than after a surge sticking to an asset allocation no matter what’s on the news forces one to buy low and sell high” it may not always be easy to give such advice while clients are in panic mode but it’s our job to help them understand the lessons learned from past market cycles david sterman is a journalist and registered investment advisor he runs huguenot financial planning a new paltz nybased feeonly financial planning firm

shares of mosaic co mos slipped 189 to 4723 thursday on what proved to be an allaround poor trading session for the stock market with the sp 500 index spx falling 088 to 378538 and dow jones industrial average djia falling 082 to 3077543 this was the stocks second consecutive day of losses mosaic co closed 3205 below its 52week high 7928 which the company reached on april 18th the stock demonstrated a mixed performance when compared to some of its competitors thursday as intrepid potash inc ipi fell 273 to 4529 cf industries holdings inc cf fell 074 to 8573 and bunge ltd bg fell 086 to 9069 trading volume 60 m remained 27 million below its 50day average volume of 87 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

thanks to the economic impact of the covid19 pandemic last year the social security trust fund will run out of money by 2034 according to an annual government report published tuesday that is one year sooner than was expected last year while the pandemic has clearly taken a toll on the financial health of the program the numbers aren’t nearly as bad as many forecasters originally feared on the one hand the pandemictriggered lockdowns have led to widespread business closures and layoffs which have significantly reduced the tax revenue from payrolls the program’s main source of income the covid19 virus has also left many survivors with damaged health that would require longterm care and thus lift costs to the social security program on the other hand the pandemic has led to the deaths of some of the most vulnerable americans such as people of old age or with underlying health conditions that could reduce the costs to the program which will now pay for a theoretically healthier group of beneficiaries the pandemic will likely lead to higher mortality rates through at least 2023 estimates the trustees for the social security trust fund there are many other factors at play a wave of baby boomers is expected to retire in the next two decades boosting the number of beneficiaries the covid19 pandemic will also likely have a negative impact on immigrant numbers and the alreadylow birthrates––both factors could weigh on the labor force growth and economic output and hurt social security revenue what’s more higher inflation this year will significantly boost the payout next year the trustees estimate that social security beneficiaries could see a nearly 6 increase in costofliving the highest annual benefit increase since 2008 the costofliving adjustment was only 13 in 2021 and 16 in 2020 by comparison the social security fund is expected to pay out more benefits than it receives in revenue in 2021 according to the report the fund had more revenue than costs in at least the past five years the fund’s retirement program will be able to pay full benefits on a timely basis until 2033 after the reserves are exhausted it would have enough income to pay about 76 of scheduled benefits unless congress steps in to fund the program the pay ratio could further decline if the program doesn’t have enough income to offset its payments the fund’s disability program meanwhile is estimated to run out in 2057 eight years earlier than last year’s projection the deadline change is mostly due to the significantly declined revenue anticipation in the near term while the benefit payouts remain the same according to the report

revlon signage is seen on display in a boots store in london britain june 16 2022 reutershannah mckayfile photo new york june 22 reuters nail polish maker revlon inc revn continued its surge as the latest socalled meme stock riding a wave of retail investor interest as the stock gained more than 50 in heavy trading on wednesday shares of the 330 million marketcap company which filed for bankruptcy last wednesday are up more than 400 since its lows on june 14 as retail investors appear to pile in to the company read more overall shares of revlon were the secondmost traded by brokerage customers of fidelity on wednesday following only the shares of tesla inc tslao according to the firm the firms market cap was less than 100 million before its recent surge one of the features that made it the perfect candidate for the most speculative retail cohort according to vanda research retail traders bought 83 million worth of revlon shares on tuesday the highest ever recorded for the stock vanda said in late afternoon trading on wednesday the stock was up 48 at 898 after rising more than 50 earlier the rally was reminiscent of the more than 500 surge in the shares of car rental firm hertz corp after it filed for bankruptcy in may 2020 following economic restrictions during the early stages of the coronavirus pandemic vanda estimated that short interest in revlon stood at 376 earlier this week making it an attractive target for retail traders who have in the past piled in to stocks in order to force a short squeeze an unwind of bearish bets that occurs when a stock price rapidly rises and can exacerbate gains in a companys shares however such an unwind is likely not the driver of revlons recent move higher said ihor dusaniwsky managing director at research firm s3 partners the recent price moves are due to long buying and selling and not short selling and covering – in other words a meme stock he said short sellers are down 153 million in marktomarket losses or 139 for the month of june according to s3 partners shares of revlon are down 22 for the year to date reporting by david randall in new york editing by matthew lewis

shares of biogen inc biib shed 198 to 27832 monday on what proved to be an allaround rough trading session for the stock market with the sp 500 index spx falling 130 to 430046 and dow jones industrial average djia falling 094 to 3400292 biogen inc closed 19023 below its 52week high 46855 which the company achieved on june 7th the stock underperformed when compared to some of its competitors monday as johnson johnson jnj fell 078 to 15922 pfizer inc pfe fell 119 to 4242 and abbvie

shares of arthur j gallagher co ajg inched 081 higher to 21083 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 arthur j gallagher co closed 177 below its 52week high 21260 which the company achieved on may 3rd the stock outperformed some of its competitors thursday as marsh mclennan cos mmc fell 031 to 17732 trading volume 947193 remained 82569 below its 50day average volume of 10 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 fortinet inc ftnt advanced 250 to 5171 thursday on what proved to be an allaround great 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 this was the stocks fourth consecutive day of gains fortinet inc closed 2264 below its 52week high 7435 which the company achieved on december 29th the stock outperformed some of its competitors thursday as cisco systems inc csco rose 078 to 4537 and hp inc hpq rose 011 to 2750 trading volume 45 m remained 838162 below its 50day average volume of 53 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 nike inc cl b nke rose 156 to 11940 tuesday on what proved to be an allaround positive trading session for the stock market with the sp 500 index spx rising 214 to 426245 and the dow jones industrial average djia rising 182 to 3354434 the stocks rise snapped a threeday losing streak nike inc cl b closed 5970 below its 52week high 17910 which the company achieved on november 5th the stock demonstrated a mixed performance when compared to some of its competitors tuesday as adidas ag adr addyy fell 051 to 11174 deckers outdoor corp deck rose 367 to 25997 and skechers usa inc cl a skx rose 354 to 3715 trading volume 104 m eclipsed its 50day average volume of 66 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

syrah resources ltd said its firstquarter graphite sales were almost double the level of the quarter immediately prior here are some remarks from its production report for the three months through march very strong forward demand for balamas high quality products has continued through the march 2022 quarter with the order book continuing to strengthen despite the seasonal restart of chinese natural graphite production demand is consistent with strong growth in chinese and global ev demand and continuing increases in chinese anode production robust forward contracting with end user customers is underpinning more than 90000 tons of natural graphite sales orders for the june 2022 quarter and into the second half of 2022 at higher prices for new contracts the weighted average sales price of natural graphite sales for the quarter was us573 per ton cif new contracts in the quarter were at prices materially higher than the average basket price fines sales accounted for approximately 79 of overall product sales fines market pricing increased through the quarter off a strong base in the december 2021 quarter with robust downstream anode demand and continued chinese natural graphite supply disruptions coarse flake prices exchina remained strong with prices increasing through the quarter due to strong industrial demand and ongoing supply disruption including from ukraine and russia the weighted average sales price of natural graphite sales was us590 per ton cif in march 2022 balama produced 46000 tons natural graphite for the quarter at approximately 15000 tons per month on average for the first time since the september 2019 quarter maximum finished product inventory positions and ongoing disruption in the global container shipping market prevented balama operating at a higher production rate strong operational performance was achieved with stable product quality and grade plant recovery was 76 which was lower than recovery achieved in campaign operations during q4 2022 this was due to higher process variability planned maintenance activities and the integration of a cyclone system in the secondary milling circuit during the quarter plant recovery was materially higher than when balama last operated at an equivalent production rate in 2019 natural graphite sales for the quarter were 35000 tons with all 30000 tons finished product inventory contracted to customers unprecedented container shipping market disruption caused by continuing china covid19 port and logistics restrictions and global trade imbalances is impacting the companys ability to secure desired container capacity for balama shipments from nacala and to match product sales to very strong underlying customer demand breakbulk shipments from pemba will continue to be utilized to supplement container shipments natural graphite production from several major processing facilities in china were negatively impacted by environmental issues prior to the seasonal winter outage and ongoing covid19 related interruptions chinese natural graphite inventory positions have been rapidly drawn down during the seasonal winter outage due to the disruption in chinese production and the challenges in the shipping market hindering imports into china the extent of ongoing disruption and environmental constraints on chinese natural graphite production is currently unclear however syrahs forward sales orders indicate customer concern regarding chinese natural graphite production availability and market balance

shares of hdfc bank ltd 500180 inched up 009 to 167475 indian rupees thursday on what proved to be an allaround great trading session for the stock market with the sp bse sensex index 1 rising 052 to 6578564 hdfc bank ltd closed 8305 rupees below its 52week high 175780 rupees which the company reached on july 3

shares of t rowe price group inc trow inched 092 higher to 10768 tuesday on what proved to be an allaround rough trading session for the stock market with the sp 500 index spx falling 038 to 373548 and dow jones industrial average djia falling 050 to 3036483 this was the stocks fifth consecutive day of losses t rowe price group inc closed 11688 short of its 52week high 22456 which the company achieved on august 30th the stock demonstrated a mixed performance when compared to some of its competitors tuesday as ameriprise financial inc amp rose 111 to 24307 and franklin resources inc ben rose 004 to 2308 trading volume 16 m remained 84530 below its 50day average volume of 17 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 agilent technologies inc a slipped 012 to 13836 wednesday on what proved to be an allaround dismal trading session for the stock market with the sp 500 index spx falling 041 to 409195 and dow jones industrial average djia falling 011 to 3364650 agilent technologies inc closed 2191 below its 52week high 16027 which the company reached on december 13th trading volume 11 m remained 434860 below its 50day average volume of 15 m

what do we think about those october lows do you think we go through them do you think we have formed a base with them what is it for the s p 35 70 circa somewhere around that mike do we go through that or do we hold with that i mean art art work or fundamental work which suggests that we will take out the october lows i think at a minimum we will retest those because what we dont know guy is probably two things is we still can have other policy support dynamics were hearing about now fiscal stimulus perhaps coming out of germany and france and sort of a coalition that could be a positive the fed could pause maybe and cut rates well see later this year that could be an offset on liquidity that has been a headwind so but we think that at a minimum youre not down to retest those lows our base case would be 30 300 if we got really nasty to be 3000 and heres the best news i can give you if its going to happen that way you need the bad outcome its going to be its going to be early part of the year its not going to be the second half of the year if we make it that far that means we probably did orchestrate a soft landing at that point the earnings growth will be turned back up again and we can look forward

shares of sage group plc sge advanced 161 to £744 tuesday on what proved to be an allaround great trading session for the stock market with the ftse 100 index ukx rising 179 to 753622 sage group plc closed 7900 pence short of its 52week high £823 which the company reached on november 24 trading volume 12 m remained 19 million below its 50day average volume of 31 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

brasilia nov 1 reuters brazils trade surplus in october was lower than forecast even though exports grew faster than imports for the first time since february official figures showed on tuesday the trade surplus reached 39 billion in october according to the economy ministry below the median forecast of a 42 billion surplus in a reuters poll exports grew by 271 from the same month last year to 273 billion herlon brandao undersecretary of intelligence and foreign trade statistics said the move was driven by a large increase in volumes exported to china brazil is a strong exporter of commodities such as soybeans iron ore coffee and beef but had seen imports rise faster for seven straight months the government pointed out that purchases from abroad were being affected by higher prices of fuel and fertilizers which surged after the ukraine war during a news conference brandao said it was difficult to tell whether octobers performance represents a trend reversal for brazilian exports in a scenario of broad global uncertainties with the monetary tightening in advanced economies threatening consumer demand on the other hand he pointed out that the sale of food products which are also representative of the country tends to be less sensitive to economic deceleration

shares of amerisourcebergen corp abc shed 026 to 15861 monday on what proved to be an allaround favorable trading session for the stock market with the sp 500 index spx rising 114 to 413729 and the dow jones industrial average djia rising 111 to 3424593 amerisourcebergen corp closed 1602 below its 52week high 17463 which the company reached on december 2nd the stock underperformed when compared to some of its competitors monday as amazoncom inc amzn rose 198 to 9954 unitedhealth group inc unh rose 022 to 49535 and cvs health corp cvs rose 023 to 8987 trading volume 13 m remained 108296 below 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

shares of tyson foods inc cl a tsn inched 058 higher to 6536 tuesday on what proved to be an allaround rough trading session for the stock market with the sp 500 index spx falling 020 to 399097 and dow jones industrial average djia falling 114 to 3391085 this was the stocks second consecutive day of gains tyson foods inc cl a closed 3536 short of its 52week high 10072 which the company reached on february 8th the stock outperformed some of its competitors tuesday as mondelez international inc cl a mdlz fell 006 to 6702 kraft heinz co khc fell 021 to 4233 and hormel foods corp hrl rose 054 to 4635 trading volume 26 m remained 490884 below its 50day average volume of 31 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

jeffrey r geygan board member at rocky mountain chocolate rmcf reported a large insider buy on august 7 according to a new sec filing what happened a form 4 filing from the us securities and exchange commission on monday showed that geygan purchased 155925 shares of rocky mountain chocolate the total transaction amounted to 920992 rocky mountain chocolate shares are trading up 281 at 567 at the time of this writing on tuesday 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 rocky mountain chocolates insider trades this article was generated by benzingas automated content engine and reviewed by an editor

rates traders are continuing to price in the prospects of an aggressive start to the federal reserve’s next ratehike cycle in coming months despite friday’s release of a disappointing 199000 jobs gain for december after the jobs report was released futures reflected a 68 chance of a 25 basis point hike in march and 27 likelihood the fed funds target rate will be 50 basis points higher than it is now by the fed’s may meeting according to cme’s fedwatch tool that’s not too far from where both odds stood on thursday such moves would lift the fed funds rate target to between 025 and 05 in march and to 05 to 075 in may from zero to 025 currently also on friday overnight indexed swaps were reflecting the likelihood that fed officials deliver something more than just a single 25 basis point hike by the end of their may meeting according to ben emons managing director of global macro strategy at medley global advisors in new york the market is attempting to envision what emons is calling “dual” or “double” tightening by the fed after the central bank’s december minutes revealed on wednesday that nearly all policy makers were interested in reducing the fed’s more than 8 trillion balance sheet at some point in conjunction with hiking rates friday’s jobs report contained enough encouraging ingredients such as a declining unemployment rate higher average hourly earnings and job gains in previously hardhit sectors like leisure to “intensify expectations for a sooner and faster tightening of fed policy” earlier in the day the strategist said read the us jobs report is not as weak as looks for the second month in a row here’s why “the headline jobs number was a bit misleading and there are a lot of elements in the report to suggest that the us may be approaching maximum employment” emons said via phone “the market is trying to work out this possibility of a double or dual tightening and doesn’t know what the impact of a smaller balance sheet will be so it’s extrapolating that into fed funds futures” “the market is pricing in a campaign of sooner and faster tightening” he said expectations for a more aggressive hikingcampaign are also being projected in real yields which continued to rise from steeply negative levels on friday interestingly though such expectations aren’t fully reflected nominal treasury yields which eventually moved higher after friday’s jobs report read ‘frankly i’m surprised by how little yields moved’ since fed minutes with the jobs report looming rates in the belly and long end of the treasury curve led the gains in yields the 10year yield tmubmusd02y rose to as high as 18 on friday adding to a roughly 24 basis point gain in the prior four trading sessions the 30year yield tmubmusd30y which was up this week by 21 basis points as of thursday rose to just above 21 as us benchmark stock indexes were mixed in afternoon trading sign up for our market watch newsletters here on friday san francisco fed president mary daly said that the central bank could start to shrink its balance sheet after one or two rate hikes her remarks came a day after her colleague in st louis james bullard said the first rate increase could come as soon as march bullard is a 2022 voter on the ratesetting federal open market committee

shares of microchip technology inc mchp slipped 176 to 7434 monday on what proved to be an allaround dismal trading session for the stock market with the sp 500 index spx falling 154 to 396394 and dow jones industrial average djia falling 145 to 3384946 this was the stocks second consecutive day of losses microchip technology inc closed 1566 short of its 52week high 9000 which the company achieved on december 28th trading volume 48 m remained 417941 below its 50day average volume of 52 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 metlife inc met slipped 119 to 6549 tuesday on what proved to be an allaround poor 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 metlife inc closed 769 short of its 52week high 7318 which the company reached on april 21st the stock demonstrated a mixed performance when compared to some of its competitors tuesday as prudential plc adr puk fell 205 to 2195 assurant inc aiz fell 272 to 15079 and unitedhealth group inc unh fell 014 to 52280 trading volume 42 m remained 6593 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

rite aid corp is closing stores and looking for ways to boost its revenue as it faces widening losses and a pile of debt “it’s really about driving growth that will ultimately generate increased ebitda and allow us to pay down more of this debt” chief financial officer matt schroeder said rite aid said its net debt totaled 27 billion in february down from 29 billion a year earlier the camp hill pabased drugstore operator has amassed debt over the years largely through its 2015 purchase of pharmacybenefit manager envision pharmaceutical services which it bought for about 2 billion from investment firm tpg inc the company’s ratio of net debt to earnings before interest taxes depreciation and amortization stood at 54 times when its latest fiscal year ended on feb 26 down from 67 times a year earlier the company said the company wants to reduce its leverage ratio to 45 times by february 2025 which would still be higher than those of some of its rivals including walgreens boots alliance inc and cvs health corp rite aid lags its rivals in part because it generates less revenue per store due to more locations in lowerincome areas said elizabeth anderson a managing director at evercore isi the research arm of the financialservices firm the company’s debt position is “overall not great” ms anderson said “if your ebitda has been declining it’s hard to reduce your debt load” she said rite aid plans to reduce its leverage ratio in part through closing stores and building prescription volume which in turn would bolster the cash flow it uses to repay debt mr schroeder said rite aid also expects investments in its ecommerce operations will help boost ebitda by reducing operating expenses and increasing prescriptions mr schroeder said those investments include expanding capabilities in prescription refills which are intended to give pharmacists more time for customer consultations he said “i want to find the right balance where we can make those investments and still chip away at the debt to some extent and grow that ebitda” mr schroeder said “that’s the sweet spot we’re looking at” the company said it expects to spend about 250 million on capital expenditures during its current fiscal year compared with 2207 million during the prior year rite aid over the past nine months closed about 145 stores it deemed unprofitable it operated 2450 drugstores across 17 states as of feb 26 the company meanwhile plans to start opening smaller stores focusing on prescription services with five set to open by december store closures are expected to help strengthen the company’s cash flow enabling it to further repay debt mr schroeder said cash and cash equivalents totaled 561 million as of may 28 down from 53 the year before rite aid last week said its firstquarter loss widened to 1102 million partly due to impairment charges driven by the store closures compared with a loss of 131 million a year earlier the company projected a wider net loss for the year ending in february 2023 of between 2033 million and 2463 million up from an april estimate of 167 million to 210 million rite aid reported 60 billion in revenue for the quarter ended may 28 down 24 from the prioryear period the company said it expects to book 130 million in impairment charges for the year due to its store closures and spend 210 million on interest expenses compared with 1916 million for the prior fiscal year rite aid on tuesday completed a 150 million cash tender offer its latest move to pay down debt and buy back some of its publicly traded bonds at a discount according to mr schroeder the company has no debt coming due until 2025 when 485 million in bonds mature he said the federal reserve’s recent rate increases are “certainly something for us to keep an eye on” mr schroeder said about half of the company’s debt has floating rates meaning interest costs go up when interest rates rise rite aid hopes that creditratings firms will lift its ratings by “a couple notches” over the next three years which will likely make future refinancings easier mr schroeder said sp global ratings earlier this month downgraded rite aid from ccc to cc—10 notches lower than an investmentgrade rating—saying the company lacked significant excess cash reserves to fund its cash tender without incurring additional debt fitch ratings inc and moody’s investors service have rated it b and b3 respectively both six notches away from investment grade “time will tell how we get there but if we execute this leverage ratio target i’m confident we will get credit rating increases over time” mr schroeder said

heightened inflation fears are threatening to do something to computer and software makers that hasn’t happened in two decades make them the worst stocks in the market they haven’t however made them anything close to cheap with a threeweek drubbing of the nasdaq 100 index showing no signs of easing up a few analysts are asking what happens if superhigh valuations in companies like alphabet inc and facebook inc revert and drag everything back to average levels

shares of danaher corp dhr slid 220 to 26116 monday on what proved to be an allaround dismal trading session for the stock market with the sp 500 index spx falling 154 to 396394 and dow jones industrial average djia falling 145 to 3384946 the stocks fall snapped a threeday winning streak danaher corp closed 7053 below its 52week high 33169 which the company reached on november 30th trading volume 23 m remained 561966 below its 50day average volume of 29 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

thursday marks the last chance for investors to receive the next dividend payout from allison transmission alsn the company announced on thursday that it would pay shareholders a quarterly dividend of 23 cents per share on friday allison transmission will go exdividend meaning the stock will trade lower to reflect that payout in other words the stock will likely open 23 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 friday shareholders who own alsn as of the end of thursdays session are eligible to receive the 23 cents dividend payout for every share that they own according to the company this dividend will be paid out to shareholders on march 17 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

when europe’s antitrust regulators barred illumina ’s 8 billion acquisition of cancertest developer grail this past tuesday illumina stock rose that reaction showed that many illumina investors wish the genesequencing giant would just end its beleaguered marriage with grail illumina ticker ilmn may be required to unwind its 2021 purchase of grail even as it continues to fight antitrust regulators in both europe and the us that would deal an expensive defeat to illumina ceo francis desouza who placed the bet on grail’s blood tests which can detect genetic traces of many kinds of cancer before symptoms appear see “i tried a new test that screens for 50 kinds of cancer what i learned” april 25 2022 but grail’s launch has proved slower and more costly than illumina expected the shares were near their alltime high of 525 in august 2021 when desouza closed the grail purchase in defiance of antitrust authorities’ concerns illumina stock has since fallen to about 200 as it fights regulators and grail startup losses mount illumina declined to speak with barron’s about its regulatory challenges most questions about illumina seem to concern grail jp morgan securities analyst julia qin tells barron’s “a great number of investors out there would love to see grail out of illumina that’s why the negative european commission attitude toward the deal caused a positive stock reaction” the investors who lifted illumina shares to 525 and an 77 billion market capitalization were attracted by its near monopoly in genesequencing systems which earned 20 net margins on 4 billion in revenue last year before its bet on grail illumina had marketed some clinical tests but in niches pioneered by its sequencer customers it can take years for a new genetic test to go through clinical trials and gain regulatory approval and insurance coverage that’s why clinical labs such as guardant health gh natera ntra invitae nvta and exact sciences exas have incurred years of losses while their sequencingtool supplier illumina has minted profits as the first multicancer blood screen grail lost 360 million on sales of 22 million in the first six months of this year that doesn’t include 450 million that illumina set aside to cover fines the european commission may impose “this is a brandnew technology” says grail president josh ofman “fortunately or unfortunately the weight of educating the clinical community falls squarely on us there’s nobody else even close” ofman looks forward to new data that grail will release on sept 11 at the european society for medical oncology conference tallying cancers found by grail’s blood screen in a study of 6662 healthy volunteers us and ec antitrust regulators have argued that illumina might favor grail over other sequencing labs striving to develop cancer blood screens on sept 1 a federal trade commission administrative law judge issued a surprise decision that rebuffed the agency and supported the illuminagrail merger ftc lawyers vowed to appeal to the full commission then on sept 6 the ec found that the merger violated its antitrust laws illumina said it would appeal the sequencing business isn’t worryfree challengers have waited for the august expiration of some illumina patents before introducing tools they claim will outperform illumina’s illumina will unveil its own new products in late september at 200 illumina shares still trade for 50 times next year’s earnings but those forecasts include grail losses if the ec decides to issue a divestment order in coming weeks the breakup would remove a burden from illumina’s sequencing profits and the multiple would be closer to 30 times the grail mess persuaded most analysts to put a hold rating on illumina stock though their price targets still average some 240

shares of kroger co kr inched 018 higher to 4949 friday on what proved to be an allaround poor trading session for the stock market with the sp 500 index spx falling 053 to 447803 and dow jones industrial average djia falling 043 to 3506562 this was the stocks third consecutive day of gains kroger co closed 251 below its 52week high 5200 which the company achieved on september 9th the stock demonstrated a mixed performance when compared to some of its competitors friday as amazoncom inc amzn rose 827 to 13957 walmart inc wmt fell 058 to 15834 and costco wholesale corp cost fell 101 to 55204 trading volume 46 m remained 753881 below its 50day average volume of 53 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 estee lauder cos cl a el slipped 411 to 18403 wednesday on what proved to be an allaround rough trading session for the stock market with the sp 500 index spx falling 061 to 417983 and dow jones industrial average djia falling 041 to 3290827 this was the stocks second consecutive day of losses

banking crisis may not be over on monday i made the comment that i felt the fed had largely contained the banking crisis perhaps i spoke a bit early following a rough day for stocks yesterday and regional banks in particular investors are now focused on what the fed will do when they conclude their meeting this afternoon on interest rate policy tuesday the sp 500 and nasdaq composite both dropped by over 1 regional banks were especially hard hit with the sp 500 regional banking etf falling 7 the sector was led lower by pacwest bancorp whose stock is down nearly 40 for the week the weakness in regional banks creates a bit of a conundrum for fed policy makers the fallout in the banking sector will likely take months before the full effects on the economy and subsequent credit tightening are understood in the meantime we’ve heard a lot of talk lately about the fed perhaps pausing in raising rates i find that particularly interesting because fed chair powell has not changed his tune in any public statements heading into trading on wednesday there is a better than 90 probability the fed will raise rates another quarter point after that it’s largely expected the fed will be done with this rate tightening cycle and there is some economic evidence suggesting the fed has achieved its objective therefore the more important part of today’s fed meeting will likely be the press conference following the announcement and what powell has to say about future policy on tuesday the latest job openings report jolts was released economists were forecasting nearly 98 million job openings however the number came in at a weaker than expected 96 million that is the lowest reading in two years on friday we’ll get a look at april employment currently it is expected that 179 thousand new jobs were created with an unemployment rate of 36 while that level of unemployment probably isn’t causing anyone to start stealing hotel linens just yet i wouldn’t be surprised to see the unemployment rate come in slightly higher in light of the large scale layoffs we’ve seen in the last year there are some other anecdotal signs the economy may be slowing as well after trading above 84barrel last month oil prices have since come crashing down it’s common to see oil prices fall if there are concerns of an economic slowdown or recession in the premarket crude oil is down nearly 3 and trading below 69 another sign the economy may be cooling is in bond yields in march yields on the benchmark tenyear note were well above 4 since then yields have trended lower and currently sit at 34 two year notes which tend to be the most sensitive to changes in the economy are currently yielding 395 well off their march highs of over 5 in individual stock news shares of starbucks are down 5 in premarket the company actually beat on revenues profits and same store sales in a call with analysts last night starbucks reaffirmed their full year outlook perhaps disappointing some who were hoping for an more optimistic forecast finally the volatility we began seeing yesterday could continue for the remainder of the week following this afternoon’s fed meeting we have apple earnings thursday after the close and friday’s employment number the vix is currently under 18 however that is up 10 from monday’s close the uptick in volatility comes on the heels of the market again trying but failing to break through that 4200 level in the sp 500 on monday as always i would stick with your investing plan and long term objectives tastytrade inc commentary for educational purposes only this content is not nor is intended to be trading or investment advice or a recommendation that any investment product or strategy is suitable for any person

feb 21 reuters london copper prices edged higher on monday supported by a weaker dollar while prospects of a deescalation in russiaukraine tensions bolstered appetite for risky assets us president joe biden and russian president vladimir putin have agreed in principle to a summit over ukraine us and french leaders said one condition for the summit was that putin did not invade ukraine read more asian share markets pared sharp early losses and wall st futures rallied following the news threemonth copper on the london metal exchange lme was up 03 at 99855 a tonne as of 0255 gmt while the mosttraded march copper contract on the shanghai futures exchange was steady at 71540 yuan 1131264 a tonne the dollar index dipped 03 making the greenbackdenominated metal cheaper for holders of other currencies lme aluminium eased 02 to 32545 a tonne lead slipped 1 to 23245 zinc was flat at 3576 and tin dipped 02 to 44045 nickel rose 05 to 20435 a tonne having earlier hit its highest since august 2011 shfe aluminium fell 09 to 22540 yuan a tonne nickel rose 1 to 178340 yuan zinc shed 14 to 24800 yuan lead was down 09 at 15350 yuan and tin dipped 02 to 336600 yuan nickel stocks in lmeregistered warehouses have fallen about 69 since april last year to 83328 tonnes while the premium for cash nickel over the threemonth contract rose to 465 a tonne on friday data last week showed copper inventories in warehouses monitored by the shanghai futures exchange rose 279 to 136300 tonnes from the previous week indonesias pt smelting a joint venture between mitsubishi materials corp and freeport indonesia on saturday launched construction of a 32 trillion rupiah 223 million expansion of its east java copper smelting facility federal reserve officials on friday squelched what had been rising market expectations for an aggressive initial response to 40yearhigh us inflation signalling that steady interest rate hikes should be enough to do the trick read more the state planner in china the biggest metals consumer said on friday it will take steps to stabilise the commodity market and hasten construction of new infrastructure in the effort to promote steady industrial growth for the top stories in metals and other news click or reporting by eileen soreng in bengaluru editing by devika syamnath

shares of iron mountain inc irm inched 053 higher to 5552 monday on what proved to be an allaround rough trading session for the stock market with the sp 500 index spx falling 020 to 427379 and dow jones industrial average djia falling 059 to 3356286 this was the stocks second consecutive day of gains iron mountain inc closed 169 short of its 52week high 5721 which the company achieved on february 2nd the stock outperformed some of its competitors monday as prologis inc pld fell 023 to 12463 international business machines corp ibm rose 017 to 13264 and digital realty trust inc dlr fell 046 to 10482 trading volume 885731 remained 425090 below its 50day average volume of 13 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