Macy’s stock slides as holiday lulls weigh on sales forecast and execs predict difficulties into 2023
Shares of Macy’s Inc. slid as much as 8% in after-hours trading on Friday after the department-store chain gave a more downbeat forecast on its fourth-quarter sales, with management citing big “lulls” in the holiday-shopping season and saying customers would likely feel the squeeze from inflation into next year. The chain issued the sales and […]
Why Snowflake shares can survive a tough winter, according to Wells Fargo
Snowflake Inc. shares have dropped almost 60% over the past 12 months amid concerns about software valuations as well as the outlook for consumption-based software companies in a choppier economic environment, but Wells Fargo’s Michael Turrin thinks that the data-warehousing name can still thrive. He initiated coverage of Snowflake’s SNOW, +1.55% stock with an overweight […]
Beer Sales Drop as Consumers Balk at Higher Prices
BusinessU.S. demand for beer fell at the end of last year after a strong run of defying inflation Source link
Your boss will no longer be able to make you sign noncompete agreements — if federal regulators have their way
Employers would be banned from making staff sign noncompete clauses, according to proposed rules that federal regulators say would boost worker pay and end a major drag on people who wish to change jobs, and stay in the same industry.The Federal Trade Commission released the proposed rules on Thursday designed to end worker noncompete clauses, […]
ADP says 235,000 private-sector U.S. jobs created in December
The numbers: Private-sector employment rose by 235,000 in December, payroll processor ADP said Thursday, in a sign that many companies are still hiring and the U.S. labor market remains strong. ADP reported a 182,000 increase in November. The increase in hiring was larger than expected. Economists polled by The Wall Street Journal had forecast a […]
Data from 235 million Twitter users reportedly exposed by hacker
Data from 235 million Twitter accounts has been leaked and posted on an online hackers forum, free for anyone to download, according to reports late Wednesday. Researchers at Privacy Affairs reported the leaked data includes account names, handles, creation dates, follower counts and email addresses, and that the data could be used for phishing, doxxing […]
Credit Acceptance shares tumble 12% after regulators sue, claim illegal subprime auto lending practices
Shares of subprime auto giant Credit Acceptance Corp CACC, -11.61% tumbled about 12% on Wednesday after New York Attorney General Letitia James and a key U.S. consumer watchdog sued the lender, saying it has been illegally tricking low-income borrowers into high-cost car loans that lead to a debt spiral. The lawsuit aims to force Credit […]
FedEx stock tanks after company withdraws outlook, says year is about to get worse
FedEx Corp. shares fell nearly 17% in the extended session Thursday after the logistics company pulled its outlook for the year, called for significantly lower quarterly profit and lower revenue, and said that fiscal 2023 is about to become worse. FedEx FDX, -0.07% said fiscal first quarter was hit by lower volumes globally, a trend […]