Meta’s stock is the most ‘overbought’ in 11 years, but that could be a good thing
There’s a common belief that “overbought” is a technical condition for a stock, but in practice it seems to be more of an ability. Meta Platforms Inc.’s stock META, +20.32% soared so much Friday after a blowout earnings report, that some technical readings have reached levels not seen in 11 years. The stock rocketed 20.9% […]
Manufacturing and construction sectors are hiring
Construction workers erect a building in downtown Miami, Florida, on June 14, 2023. Jim Watson | AFP | Getty Images At Ample’s manufacturing facilities in the Bay Area, employees work on the floor alongside robots, making battery packs and other parts for its EV battery swapping technology. The job is clean, high-tech and skilled – […]
What’s behind Cathie Wood’s ARK estimate for bitcoin to surge to $2.3 million
Cathie Wood’s ARK Investment Management estimates bitcoin prices could skyrocket to $2.3 million on the back of an “optimal allocation” to the crypto currency from a massive global investable asset base. ARK made that estimate in its latest annual research report on “big ideas,” which pegged the global investable asset base at $250 trillion. A […]
Carvana targets redemption after bankruptcy concerns, restructuring
A Carvana sign and signature vending machine in Tempe, Ariz. Michael Wayland/CNBC PHOENIX – As layoffs and cost cuts roil Wall Street, from retail and shipping to tech and media, embattled online used car sales giant Carvana says its own restructuring is in the rear view. Carvana over the last 18 months aggressively restructured its […]
Bristol Myers Squibb (BMY) Q4 earnings report 2023
Bristol Myers Squibb reported quarterly earnings and revenue that topped expectations on Friday as its portfolio of new drugs posted strong sales growth. Here’s what the company reported for the fourth quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG, formerly known as Refinitiv: Earnings per share: $1.70 […]
Opinion: Has ‘funding relief’ for private sector defined-benefit plans gone too far?
In doing background reading to figure out how many companies may follow IBM IBM, +1.76% and reopen a closed defined-benefit plan, commentators kept referring to “funding relief,” which combined with the improved funded status and derisking, has dramatically reduced the likelihood that a company would be forced to contribute to its plan. I had not […]
Lululemon to launch first men’s footwear line
Canadian sportswear clothing band, Lululemon store in Hong Kong. Budrul Chukrut | Lightrocket | Getty Images Lululemon is launching its first men’s footwear line and casual sneaker as the retailer looks for new avenues of growth in the increasingly crowded athletic apparel space, the company announced Thursday. The retailer is debuting its first casual sneaker, […]
Shares of China’s Landsea Green rise on plan to buy Texas homebuilder for $185 million
Shares of Chinese developer Landsea Green Management 106, +40.68% rose after the company said its Nasdaq-listed unit will buy a Texas homebuilder for $185 million. Shares were up 19% in early Hong Kong trading Friday, lifting the stock into the green for the year. Landsea Green said ahead of trading that its Landsea Homes subsidiary […]
Small business optimism rises despite inflation: Goldman Sachs survey
U.S. President Joe Biden speaks during a Rose Garden event at the White House to mark National Small Business Week on May 1, 2023 in Washington, DC. Alex Wong | Getty Images Small business owners are more optimistic to start the year, even as they face persistent inflation and lending concerns, a new poll released […]
Intel shares dip after report of delayed opening for massive Ohio chip factory
Shares of Intel Corp. slipped in extended trading Thursday after the Wall Street Journal reported that the start of production at the chip maker’s new $20 billion manufacturing plant in Ohio will be delayed by at least a year. Intel confirmed the report, saying it will not meet its “aggressive” goal of commencing production in […]
