Silvergate, Bed Bath & Beyond, Walgreens and more
Signage outside a Bed Bath & Beyond retail store in New York, Aug. 25, 2022.Gabby Jones | Bloomberg | Getty ImagesCheck out the companies making headlines in midday trading.Silvergate — Shares of the crypto-focused bank tumbled more than 42% after Silvergate disclosed massive customer withdrawals during the fourth quarter. The bank said it $3.8 billion […]
Bed Bath & Beyond warns of potential bankruptcy
Bed Bath & Beyond warned Thursday it’s running out of cash and is considering bankruptcy.The retailer, citing worse-than-expected sales, issued a “going concern” warning that in the upcoming months it likely will not have the cash to cover expenses, such as lease agreements or payments to suppliers. Bed Bath said it is exploring financial options, […]
Dow closes 300 points lower after strong jobs data signals more rate hikes
Stocks fell Thursday after jobs data showed the labor market is still strong despite the Federal Reserve’s interest rate hikes to tame inflation.The Dow Jones Industrial Average fell 339.69 points, or 1.02%, to 32,930.08. It was weighed down by Walgreens, which lost 6.13% after earnings showed a $5.2 billion opioid litigation settlement drove a quarterly […]