U.S. stocks edge higher, bolstered by tech gains, as investors await Fed meeting
Stocks crept higher Monday afternoon, pushed up by gains in technology stocks, as investors awaited the outcome of this week’s Federal Reserve meeting. What’s happening The Dow Jones Industrial Average DJIA was up 5870 points, or 0.2%, at 34,678. The S&P 500 SPX rose 9 points, or 0.2%, to 4,459. The Nasdaq Composite COMP added […]
Clorox says last month’s cyberattack is still disrupting production
Colorox brand toilet bowl cleaner sits on display at a supermarket in Princeton, Ill. Daniel Acker | Bloomberg | Getty Images Clorox on Monday warned of a material financial hit from ongoing production disruptions caused by a cyberattack last month. The company, which produces its namesake bleach products and Pine-Sol, among other household items, also […]
‘Dumb Money’ thrusts GameStop into spotlight, but don’t expect meme stocks spike
The meme stock phenomenon that sent shares of GameStop Corp. skyrocketing to dizzying heights in 2021 is getting the Hollywood treatment in the new movie “Dumb Money,” which hits select theaters Friday, but don’t expect any repeat of the events of 2021, says Dan Raju, CEO of cloud-based financial services provider Tradier. “[The movie is] expected […]
UAW strikes against Detroit carmakers will happen without contracts
The United Auto Workers union will strike against the Detroit automakers if the sides don’t reach labor deals by an 11:59 p.m. ET Thursday deadline, UAW President Shawn Fain said Wednesday on CNBC’s “Squawk Box.” Fain’s comments came the morning after he outlined plans to local union leaders about implementing targeted strikes at certain General […]
Duke up, UChicago down: Here’s the 2024 college rankings list from U.S. News
U.S. News released its influential undergraduate college rankings Monday, a list that continues to inspire both fascination and derision. Despite a change in methodology partially in response to recent criticisms, the same Ivy League and highly selective institutions still dominate the top of the list, even though there’s been some significant moves among the top-14 […]
What you need to know
A nurse prepares doses of the Pfizer vaccine during a COVID-19 vaccination event at Josephine’s Southern Cooking in Chatham, Illinois, Dec. 30, 2021. Brian Cassella | Tribune News Service | Getty Images A new round of Covid vaccines is finally here in the U.S. The Centers for Disease Control and Prevention cleared single-strain shots from […]
KKR to buy 20% stake in Singtel’s data-center business
Private-equity firm KKR has agreed to buy a 20% stake in the regional data-center business of Singapore Telecommunications for 1.1 billion Singapore dollars (US$800.0 million). The telecom company said Monday that the investment to be made by a fund managed by KKR puts the enterprise value of Singtel’s overall regional data-center business at S$5.5 billion. […]
Retailers are losing $100 billion a year from fraud: Riskified
Oscar Wong | Getty Images For the last three years, Robert has used a different email address to take advantage of a Black Friday Hulu promotion that most recently offered new customers a yearlong subscription for just $1.99 a month instead of the usual $7.99 monthly cost. The social media manager has used similar tricks […]
Cisco to cut 350 jobs in latest round of layoffs
Cisco Systems Inc. will lay off 350 employees in Silicon Valley next month, in the tech giant’s latest round of job cuts. According to a filing with California’s Employment Development Department last week, Cisco CSCO, -0.59% will lay off 227 people in San Jose, and another 123 in nearby Milpitas, Calif., effective Oct. 16.
Delta joins other airlines in cutting profit estimates on higher costs
Delta Air Lines airplanes at the Hartsfield-Jackson Atlanta International Airport (ATL) in Atlanta, Georgia, U.S., on Tuesday, Dec. 21, 2021. Elijah Nouvelage | Bloomberg | Getty Images Delta on Thursday joined other carriers in trimming its profit estimates as costs rise. The airline said it expects to report adjusted per-share earnings of between $1.85 and […]
