Target posts a stunning drop in profit. Stock plunges

What shape might the next recession take?

The retail giant reported a stunning 52% drop in profit for the first quarter, badly missing Wall Street’s forecasts. The company blamed higher expenses due to continued supply chain disruptions. Consumers also are holding back on nonessential purchases because of rampant inflation. Shares of Target (TGT) plunged 27% in late afternoon trading Wednesday, potentially setting … Read more

Why are stocks falling? Fragile ‘bear market’ bounce gives way to stagflation jitters

Why are stocks falling?  Fragile 'bear market' bounce gives way to stagflation jitters

Is that all there is? US stocks were back on the downswing in a big way Wednesday, ,more than erasing the previous sessions rally and underlining warnings from some market veterans that sharp rebounds in what has so far been a down year for equities may be little more than the sort of volatile, short-lived … Read more

Elon Musk Does Not Fear A Recession

Elon Musk Does Not Fear A Recession

Elon Musk makes the news. He is everywhere. The chief executive officer of premium electric vehicle maker Tesla (TSLA) – Get Tesla Inc Report is somewhat reminiscent of former Republican President Donald Trump when the latter was in office. Like Trump, Twitter is Musk’s main communication channel. Like the real estate developer, the tech tycoon … Read more

Stablecoins were supposed to be ‘stable.’ Then the crash came

Crypto: The future of money or the biggest scam?

On Twitter and Reddit, stunned Luna and TerraUSD investors tried to take stock of their losses after the cryptocurrencies’ dramatic collapses last week. The two cryptos took a beating as Terra — a supposed “stablecoin” that was meant to retain a $1 price point — lost its peg, and the connected Luna crypto dropped 99% … Read more

Home Depot’s strong quarter shows housing market is still booming

Home Depot's strong quarter shows housing market is still booming

The home improvement retail giant reported better-than-expected gains in sales and earnings for the first quarter Tuesday and lifted its outlook for the rest of this fiscal year. Shares of Home Depot (HD)one of the 30 stocks in the Dow, initially rose more than 3% before the market opened on the news but was down … Read more

JetBlue launches hostile takeover for Spirit

JetBlue launches hostile takeover for Spirit

Now, JetBlue is appealing directly to Spirit’s shareholders, urging them to vote against the Frontier deal while launching its own all-cash offer of $30 per share. JetBlue said in a statement Monday that its offer represented a “60% premium to the value of the Frontier transaction.” The airline added that it was willing to negotiate … Read more

Stocks week ahead: How resilient is the US consumer?

'Prices are still rising, but not as quickly': Romans breaks down inflation data

Retail sales rose at a healthy 0.5% clip in March when compared to February and were up 6.9% from March 2021. Economists are expecting that the strong trend for retail lasted into April as well. The government will report retail sales figures for April on Tuesday. Forecasts are calling for a 0.7% jump from March … Read more

George Soros Backs Bet on Rivian as Ford Delivers Bad News

George Soros Backs Bet on Rivian as Ford Delivers Bad News

Rivian (RIVN) – Get Rivian Automotive, Inc. Class A Report got scared but the electric vehicle maker made up for it well. The young manufacturer of electric SUVs and pickups has just cleared some of the many doubts hanging over its short-term future. The Irvine, Calif.-based company confirmed its production target of 25,000 vehicles in … Read more

Cathie Wood Watch: Ark Piles Into Coinbase and a Videogame Platform

Cathie Wood Watch: Ark Piles Into Coinbase and a Videogame Platform

Investment hotshot Cathie Wood, chief executive of Ark Investment Management, on Thursday continued to gobble up beleaguered stocks. That included a cryptocurrency exchange and a videogame-development platform. She did some selling, too. All ratings below are based on the May 12 close. Ark funds bought 240,791 shares of Coinbase (CORNER) , the largest US cryptocurrency … Read more

‘Nowhere to hide?’ Why stagflation fears put stocks on verge of a bear market

'Nowhere to hide?'  Why stagflation fears put stocks on verge of a bear market

It will take more than Friday’s big bounce to put to rest the fear of a bear market in stocks as uncertainty about the Federal Reserve’s ability to get a grip on inflation without sinking the economy stokes fears of stagflation — a pernicious combination of slow economic growth and persistent inflation. Stagflation is “an … Read more