Bed Bath & Beyond Inc (NASDAQ: BBBY), on Friday, confirmed that it doesn’t have sufficient funds to repay its debt. Shares are still slightly in the green this morning. BBBY is considering bankruptcy JPMorgan has already presented the embattled chain of domestic merchandise retail stores with a notice of default. Consequently, Bed Bath & Beyond said in a regulatory filing today: This will lead the Company to consider all strategic alternatives, including restructuring its debt...
Chevron Corporation (NYSE: CVX) is trading down this morning after reporting its fourth-quarter profit that came in shy of street estimates. Chevron has a new stock buyback programme In its upstream business, the oil and gas behemoth took an 11.9% hit to earnings in the United States. Internationally, though, its earnings in that segment were up 31.2%. A day earlier, Chevron raised its dividend by 6.0% and authorised a whopping $75 billion share repurchase programme...
S&P 500 opened down on Friday after the U.S. Bureau of Economic Analysis said the core personal consumption expenditures price index continued to ease in December. Liz Young is still keeping cautious on equities On a year-over-year basis, the Fed’s preferred inflation gauge was up 4.4% – in line with the economists’ forecast and down from 4.7% in November. Still, Liz Young – the Head of Investment Strategy at “SoFi” is sticking to her cautious...
TOP STORIES Will CNN Ever Become a Ratings Giant Again? Are These Dividend Stocks Good Picks Right Now? Who were the Nasdaq’s Biggest Winners Yesterday? Why CNN’s Ratings Keep Plunging Actress Felicity Huffman made headlines when it was revealed that she was part of the college admissions scandal. And she has kept a low profile ever since serving her time. She’s only now returning to acting because her husband stepped in… The FTX meltdown left...
Shares of Intel Corporation (NASDAQ: INTC) slid nearly 10% in extended trading after the chipmaker reported disappointing results for its fourth financial quarter. Intel stock down on weak guidance What weighed on the stock further was the company’s guidance that also missed expectations. Intel forecasts 15 cents of adjusted per-share loss for Q1 on up to $11.5 billion in revenue. In comparison, analysts had called for 25 cents of adjusted EPS on $13.93 billion revenue....
S&P 500 is trading slightly up on Thursday after the Bureau of Economic Analysis said the U.S. economy ended the final quarter of 2022 in good shape. GDP growth beats expectations According to the Commerce Department, gross domestic product grew at an annualised pace of 2.9% in the fourth quarter – slightly better than 2.8% that the economists had forecast. In the prior quarter, though, the growth rate was a bit higher at 3.2%. Nonetheless,...
Cathie Wood seems to be having a fantastic start to the new year with her ARK Innovation ETF now up 25% year-to-date – and she’s continuing to make adjustments to her holdings in hopes of even better returns moving forward. Cathie Wood sells more of EXAS The billionaire investor continued to trim her stake this week in Exact Sciences Corp (NASDAQ: EXAS) – one of her top favourites. Wood capitalised on a more than 100%...
This year could be make or break for decentralised finance (DeFi). In 2021, DeFi innovation stagnated, even as the crypto market rose to record highs. In 2022, a spate of DeFi hacks and centralised finance (CeFi) failures blighted trust in the industry and attainable yield dropped to near zero. The coming 12 months will be pivotal in shaping the future of DeFi as a viable option for mainstream investors. From the peak of $180 billion...
Southwest Airlines Co (NYSE: LUV), on Thursday, disappointed both in terms of its quarterly results and future guidance. Shares are down 5.0% this morning. CEO Jordan apologised to customers The world’s largest low-cost air carrier had to cancel thousands of flights this holiday season as Invezz reported here, resulting in an $800 million hit. Apologising for the meltdown to customers this morning on CNBC’s “Squawk on the Street”, CEO Bob Jordan said: My full focus...
Chevron Corporation (NYSE: CVX) opened up this morning after the oil and gas behemoth authorised a massive share repurchase programme and raised its quarterly dividend. What worth of shares will it buy back? Late on Wednesday, the multinational announced a whopping $75 billion buyback to go in effect on April 1st. The new programme replaces the one it announced in January 2019 of $25 billion. The boost to shareholder returns arrives after a year...
