Tag Archives: surges

Nike (NKE) is getting its inventory bloat under control, much to the delight of investors. Shares of the apparel and footwear giant surged 12% in pre-market trading on Wednesday as better-than-expected sales and earnings quieted — for now — concerns that Nike would be hammered by sluggish global economic growth. The stock is the top trending ticker on Yahoo Finance as of 5:30 a.m. ET. But the real standout from Nike’s fiscal second quarter was the company noticeably working down its excess… Source link

Former U.S. President Donald Trump’s non-fungible token (NFT) digital trading card collection sold out early Friday, the day after its initial release. According to data from OpenSea, at time of writing, the collection’s trading volume is 900 ETH, or about $1.08 million. Its floor price is about 0.19 ETH, or about $230 – more than double the original price of $99. Some tokens are selling for much higher prices. The one-of-ones, the rarest of the NFTs, which comprise 2.4% of the 45,000… Source link

Former President Donald Trump; Florida Gov. Ron DeSantis. (Photo illustration: Kelli R. Grant/Yahoo News; photos: Michael Conroy/AP, Julia Nikhinson/AP) A new Yahoo News/YouGov poll finds that Florida Gov. Ron DeSantis now leads former President Donald Trump by 5 percentage points in the race for the 2024 GOP presidential nomination. Trump previously led DeSantis by double-digit margins among registered voters who describe themselves as Republicans or Republican-leaning independents. Meanwhile,… Source link

In something of a change this earnings season, an electric carmaker (other than Tesla) actually reported a profit for the quarter. Polestar (PSNY), the Swedish-based company backed by Volvo and China’s Geely, reported its first gross profit as a public company since completing its SPAC merger earlier this year. For the quarter, Polestar reported: Though Polestar did miss on the top line, sales were up 105% for the quarter versus last year, and it was enough to eke out a $4 million gross… Source link

U.S. consumer prices in June accelerated at the fastest annual pace since November 1981. The Bureau of Labor Statistics’ Consumer Price Index (CPI) reflected a year-over-year increase of 9.1% last month, up from the prior 40-year high of 8.6% in May. Economists were expecting June’s reading to show an 8.8% increase, according to estimates compiled by Bloomberg. On a monthly basis, the broadest measure of inflation rose at a pace of 1.3%, inching up from 1% in May and climbing at a faster tempo… Source link

(Bloomberg) — The emerging multi-polar world now includes foreign-exchange markets — as China and Russia, the biggest challengers to U.S. supremacy, boost direct trading between their currencies. Most Read from Bloomberg Monthly volumes on the ruble-yuan pair have surged 1,067% to almost $4 billion since the start of the war in Ukraine as the two nations seek to reduce their reliance on the dollar and boost bilateral trade to overcome current and potential U.S sanctions. The spike coincides… Source link

Costco (COST) has turned into the ultimate safe-haven investment (yet again) as markets have gotten uprooted due to the Russian war on Ukraine. Shares of the warehouse giant have gained about 8% since the war began in late February. The S&P 500 and Nasdaq Composite are down slightly during that same span. Walmart’s stock (WMT) is up 5% The buying activity likely reflects several factors. First is that Costco is a mostly U.S.-focused operation, meaning less relative geopolitical risk to the… Source link

It’s been a rough two years for the cruise industry, where fortunes have taken another downturn with the appearance of the Omicron variant of COVID-19, and in the wake of a recent recommendation by the Centers for Disease Control and Prevention to avoid leisure travel on the high seas.  With new infections showing no sign of relenting anytime soon, the CDC has said cruises should be avoided, regardless of vaccination status. The CDC increased the travel warning for ships to level 4 — the… Source link

GameStop’s (GME) stock surged as much as 30% in after hours after a report that the video game retailer is launching a marketplace for non-fungible tokens (NFTs), a move which had been telegraphed last year.  GameStop is also reportedly creating partnerships with two crypto companies to “share technology and co-invest in the development of games that use blockchain and NFT technology, as well as other NFT-related projects,” according to people familiar with the plans who spoke to the… Source link

A deadline for COVID-era recovery loans lapsed on Friday, with questions lingering about how much funding is available to help backstop small businesses hunkering down as the Omicron variant surges across the economy.   Small business owners had until Friday to apply for the regular Economic Injury Disaster Loan (EIDL) and the Targeted EIDL Advance program. However, the Small Business Association (SBA) didn’t clarify how much remains in those funds. A representative told Yahoo Finance the… Source link