Tag Archives: Wall

The stock market is suddenly looking up. Or is it? Equities whipsawed throughout the month of May as investors contemplated falling economic growth projections and less-than-stellar earnings forecasts from retailers. Despite the bearish news, ongoing volatility, and consistent predictions of an impending recession, the S&P 500 ended the month roughly unchanged after mounting a recovery over the last few weeks. The rebound has some on Wall Street arguing that it’s time to be opportunistic and… Source link

(Bloomberg) — Cisco Systems Inc. spooked investors with a warning that Chinese lockdowns and other supply disruptions would wipe out sales growth in the current quarter, renewing broader concerns about tech spending in a shaky economy. Most Read from Bloomberg The outlook sent Cisco shares down as much as 19% in late trading and weighed on stocks of other networking companies, dealing a fresh blow to an already-battered sector. Even before Cisco’s latest plunge, its stock was down 24% this… Source link

Goldman Sachs emerged as one of the strongest advocates of a post-pandemic return to the office this year, but the fight for talent could be forcing the investment bank to reverse course and offer employees more time away from their desks instead. In an internal memo seen by the Financial Times, the investment bank said it would offer junior staff a minimum of two extra days off each year. But senior staff will get an even bigger perk—one more commonly associated with Silicon Valley than… Source link

Getty Images; Chris Ratcliff | Bloomberg | Getty Images Shares of Amazon and Google parent Alphabet just closed out their steepest monthly drops since the 2008 financial crisis. The internet giants both reported weaker-than-expected quarterly results this week, hurt by a combination of macroeconomic factors, the war in Ukraine and tough comparisons to blowout numbers during the pandemic. Amazon tumbled 23.8% in April, its biggest decline since falling 25.4% in November 2008, the same month… Source link

War in Ukraine, raging inflation and a clouded economic outlook were top of mind for executives at financial firms last week as they recapped an underwhelming quarter on Wall Street in their post-earnings calls with investors. But another widely-cited topic in those conferences went largely under the radar: heavy talk of imminent blockchain plans from some of the industry’s biggest firms. BlackRock (BLK), JPMorgan Chase (JPM) and Goldman Sachs (GS) were among the major financial institutions… Source link

Jordan Belfort attends the premiere party for “The Wolf of Wall Street” at the Roseland Ballroom in New York.Evan Agostini/Invision/AP Jordan Belfort, the real-life “Wolf of Wall Street,” is now marketing himself as a crypto mastermind. Last week, he hosted a $40,000 cryptocurrency workshop at his Miami estate, NYT reported Friday. Three years ago, the former stockbroker and convicted felon said Bitcoin was a “mass delusion.” Jordan Belfort, the real-life inspiration behind “The Wolf of Wall… Source link

The U.S. economy added nearly half a million jobs in March. The Dow Jones industrial average is within 6% of its record high. And U.S. households accumulated roughly $2.5 trillion in excess savings throughout the pandemic. Still, despite all the good news, predictions of an impending recession are widespread on Wall Street. Billionaire investors, former Federal Reserve officials, and now even investment banks have repeatedly warned that the economy may hit a wall in 2023. What’s driving the… Source link

Rite Aid’s (RAD) outlook is a hot mess — so hot the company may not be in business much longer. At least that’s the word from Deutsche Bank analyst George Hill, who issued a damning downgrade of the struggling retailer on Thursday. Hill slashed his rating on Rite Aid to Sell and slapped the stock with a $1 price target. Most worrisome — at least if one still owns Rite Aid’s stock — is that Hill suggests Rite Aid may go under. “We see a likely risk that the company provides guidance next… Source link

Google is being probed by the EU and the U.K. over whether it and Meta Platforms sought to illegally fix prices in digital advertising. Photo: Marcio Jose Sanchez/Associated Press Source link

Investors are still reeling from a roller coaster ride — attempting to price in a bewildering array of sweeping sanctions against Russian entities with all its attendant knock-on effects. There’s a growing divide on Wall Street, with some saying that the worst is over and investors should buy the dip while others are saying investors should be cautious and concerned about lingering tail risks. Dominic Wilson of Goldman Sachs’ global markets strategy team is wary of both surging oil prices… Source link