Intel (INTC) CEO Pat Gelsinger debuted the company’s 13th-generation Intel Core processors on Tuesday during the chip giant’s annual Intel Innovation event in San Jose, California. The new chips, codenamed Raptor Lake, are designed to put Intel in the performance lead ahead of arch rival AMD (AMD) in the desktop […]
Finance
Home buyers are canceling purchase contracts. What to know before you do
Steve Pfost | Newsday | Getty Images Amid higher interest rates and a softening housing market, home buyers are continuing to back out of purchase contracts at an elevated rate. About 64,000 home-purchase agreements were canceled in August, according to a new report from Redfin. That’s equal to 15.2% of […]
Larry Summers blasts UK’s ‘utterly irresponsible’ fiscal policy
Larry Summers Cameron Costa | CNBC LONDON — Former U.S. Treasury Secretary Larry Summers on Tuesday warned that the U.K. has lost sovereign credibility after the new government’s fiscal policy sent markets into a tailspin. The British pound hit an all-time low against the dollar in the early hours of Monday morning, before recovering […]
Tesla rental demand ‘very, very solid,’ Hertz CEO says
Tesla (TSLA) rental demand appears to be off to a brisk start for Hertz (HTZ). “Demand has been very, very solid,” Hertz CEO Stephen Scherr said in an exclusive Yahoo Finance Live interview Tuesday (video above). “We’re seeing demand not just among leisure travelers but also among corporate travelers, where […]
Stock market losses wipe out $9 trillion from Americans’ wealth
Falling stock markets have wiped out more than $9 trillion in wealth from U.S. households, putting more pressure on family balance sheets and spending. Americans’ holdings of corporate equities and mutual fund shares fell to $33 trillion at the end of the second quarter, down from $42 trillion at the […]
Here’s one veteran strategist’s guess at a bear market bottom
Investors would be wise to buckle up for more downside to an already battered stock market, veteran CFRA Chief Investment Strategist Sam Stovall warns. “I think this will be a bear market with a recession,” Stovall said on Yahoo Finance Live (video above). “Bear markets with recessions have ended up […]
S&P 500 sputters to another new 2022 low as stocks waver
U.S. stocks closed mixed on Tuesday, with the S&P 500 closing at a new 2022 low and the Dow Jones Industrial Average falling deeper into a bear-market, a day after a tumultuous trading period. The S&P 500 was off by roughly 0.2% after dipping below its June 16 intraday low, […]
Applied Optoelectronics Announces Definitive Agreement to Sell its Chinese Manufacturing Facilities and Certain Assets Related to its Transceiver Business for
Applied Optoelectronics, Inc. Positions the Company to Focus on Higher Margin and Higher Growth Opportunities Transaction is Expected to Close in 2023Company to Host Conference Call and Webcast at 5 p.m. ET Today SUGAR LAND, Texas, Sept. 15, 2022 (GLOBE NEWSWIRE) — Applied Optoelectronics, Inc. (NASDAQ: AAOI) (the “Company” or “AOI” […]
The 164-year history of America’s oldest department store, Macy’s
Long before oversized, cartoon-inspired balloons reigned supreme over American televisions on Thanksgiving day, Rowland Hussey Macy was hawking dry goods to New Englanders and Californians in the mid-nineteenth century. Though the founder of the modern-day Macy’s department stores couldn’t seem to spin gold from the prospecting 49ers, he did produce […]
Tech giants have bigger problems than rising interest rates: Morning Brief
This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe Friday, September 16, 2022 Today’s newsletter is by Julie Hyman, anchor and correspondent at Yahoo Finance. Follow Julie on Twitter @juleshyman. Another day, another […]
FedEx earnings miss ‘the weakest set of results’ Deutsche Bank has seen in 20 years
FedEx (FDX) gave investors a stark announcement on how business conditions continue to weaken on Thursday, withdrawing its full-year guidance while CEO Raj Subramaniam warned that global volumes “significantly worsened” and are likely to decline even further. Wall Street noticed: FedEx stock fell more than 21% on Friday following the […]
Stocks slide as traders mull economic data, corporate news
U.S. stocks tumbled in a back-and-forth session Thursday as a flurry of corporate headlines held investor attention over any moves from the major averages. [Click here to read what’s moving markets on Friday, Sept. 16] The benchmark S&P 500 dropped 1.1%, while the Dow Jones Industrial Average shed 170 points, […]
Weekend reads: This may cause the next financial crisis
The Federal Reserve invigorated the economy before and during the coronavirus pandemic by purchasing Treasury bonds. The central bank was the main purchaser of newly issued U.S. debt and created trillions of new dollars while doing so. The Fed is now allowing its securities portfolio to run off as bonds […]
New Ford Mustang sticks with gas power as dealers must go electric
Ford is throwing a bone to traditional Mustang fans, but the good times won’t last too long as the Dearborn-based automaker continues to push its electrification game plan. Ford took the wraps off the latest Mustang, the seventh generation, at the Detroit Auto Show last night. The 2024 Mustang will […]
SEC Chair Gensler says ‘vast majority’ of cryptocurrencies are securities
U.S. Securities and Exchange Commission Chair Gary Gensler is again calling on crypto projects and businesses to register with the agency. In prepared remarks at an event organized by the Practising Law Institute, Gensler said Thursday morning the “vast majority” of cryptocurrencies are securities and crypto investors buying such assets […]
Bed Bath & Beyond’s biggest problem, according to Goldman’s top retail analyst
Goldman Sachs analyst Kate McShane is sticking with her $2 price target on struggling home goods retailer Bed Bath & Beyond (BBBY), which assumes a 75% crash in the stock from current levels. McShane’s biggest concern — among many — is Bed Bath & Beyond winning back enough customers to […]
GameStop, American Eagle, Dave & Buster’s
GameStop (GME): GameStop shares spiked in after hours trading after the retailer announced a partnership with crypto platform FTX. The agreement “is intended to introduce more GameStop customers to FTX’s community and its marketplaces for digital assets,” according to the release. GameStop and FTX will collaborate on eCommerce and online […]
Zscaler Reports Fourth Quarter and Fiscal 2022 Financial Results
Zscaler, Inc. Fourth Quarter Highlights Revenue grows 61% year-over-year to $318.1 million Calculated billings grows 57% year-over-year to $520.4 million Deferred revenue grows 62% year-over-year to $1,021.1 million GAAP net loss of $97.7 million compared to GAAP net loss of $81.0 million on a year-over-year basis Non-GAAP net income of $36.4 […]
Charles Schwab Says High-Yield Dividend Stocks Are the Best Play Right Now; Here Are 2 Names That Analysts Like
As we close in on the final quarter of 2022, investors are looking for an answer to one question: was June’s low the bottom for stocks, or do they have more room to fall? It’s a serious question, and there may be no easy answer. Markets are facing a series […]
After hours stock movers: RH, DocuSign, Zumiez
RH (RH): RH shares rose 1% after hours after the retailer beat on both the top and bottom lines for the second quarter but cut its full year revenue forecast. Sales for the quarter totaled $991.6 million, up 0.3% from a year ago, on adjusted earnings of $8.08 per share. […]