More Auto Payments Are Late, Exposing Cracks in Consumer Credit
MarketsFinanceBorrowers with low credit scores fall behind in numbers unseen since 2010 Source link
Flying-motorcycle maker loses altitude in stock debut
Aerwins Technology Inc.’s stock lost about 56% of its value on Monday after the blank-check company Pono Capital completed its acquisition of the maker of battery-powered flying motorcycles. Aerwins was valued at $600 million when Pono Capital announced plans to buy the company in September. The stock fell to $5 a share on Monday after […]
Adani selloff worsens after cancellation of $2.5 billion share sale
Shares of Adani Group companies continued their multi-day plunge Thursday, hours after the Indian conglomerate cancelled an up-to-$2.5 billion share sale amid a record dive in the stock price of its flagship company. Shares of Adani Enterprises 512599, -7.78% were last down 8.8%, a day after the stock fell more than 28% in its biggest […]
Meta stock spikes despite earnings miss, as Facebook hits 2 billion users for first time and sales guidance quells fears
Meta Platforms Inc. shares soared in after-hours trading Wednesday despite an earnings miss, as the Facebook parent company guided for potentially more revenue than Wall Street expected in the new year and promised more share repurchases amid cost cuts. Meta META, +2.79% said it hauled in $32.17 billion in fourth-quarter revenue, down from $33.67 billion […]
UPS foresees ‘mild recession’ in 2023 and posts first revenue decline since the 2008 financial crisis
Shares of United Parcel Service Inc. rallied Tuesday, even after the package-delivery giant reported a surprise decline in fourth-quarter revenue, missing Wall Street expectations for the first time in 12 quarters, and warned of the first yearly decline in revenue in 14 years. Investors expressed relief, however, as UPS beat fourth-quarter profit expectations, raised its […]
Royal KPN posts forecast beating profit, begins $325.5 million share buyback program
Royal KPN NV on Tuesday reported a 21% rise in fourth-quarter net profit that beat forecasts, and said it has started a new 300 million-euro ($325.5 million) share buyback program. The Dutch telecommunications operator KPN, +0.92% made a net profit for the quarter of EUR190 million compared with EUR157 million for the same period a […]
Paramount+ and Showtime to integrate content, rebrand later this year
Media giant Paramount Global Inc. on Monday announced it plans to merge its Paramount+ streaming service with its premium cable channel, Showtime. The integration, set to take effect later this year, essentially means Showtime subscribers on cable will get to watch Paramount+ content, such as “1923” and “Star Trek: Picard,” and streaming subscribers to the […]
Adani shares mixed after 413-page response to Hindenburg
Shares of Adani Group companies were mixed in early trading Monday after the Indian conglomerate hit back at criticisms by U.S. short seller firm Hindenburg Research in a 413-page rebuttal. Flagship company Adani Enterprises 512599, +3.47% and Adani Ports & Special Economic Zone Ltd. 532921, -0.74% were up 6.8% and 4.8%, respectively, reversing course from […]
S&P downgrades Bed Bath & Beyond, says beleaguered retailer has ‘insufficient funds’ to repay its financial obligations
S&P Global Ratings downgraded Bed Bath & Beyond Inc.’s credit Friday, a day after the beleaguered retailer said it was in default on loans that have been called in. The default filing sent Bed Bath & Beyond’s BBBY, +1.19% stock plunging, although it rallied to end Friday’s session up 1.2%, outpacing the S&P 500 Index’s […]
I’m still working at 75: Do I need to take RMDs from my 401(k)?
Dear Fix My Portfolio, I retired from the U.S. Postal Service in 2004 and have a yearly pension from the Office of Personnel Management (OPM). I also work part time at a big hardware chain and have a portion of my salary placed in the company’s 401(k). I have been working there for four years […]