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Major Indexes Drop 4% In August After 4-day Decline

Aug 31, 2022
Barry Adams
World markets closed down more than 4% as central banks around the world set the stage for rate hikes beginning as early as next week. Energy prices remained in focus after inflation accelerated in Europe.

Movers: Bed Bath & Beyond, Chewy, Express, HP, HPE, PVH, Snap

Aug 31, 2022
Barry Adams
Bed Bath & Beyond announced a restructuring plan as same store sales plunge and consumers look elsewhere for popular branded goods. Snap plans to cut its operating costs. PVH lowered its annual outlook.

BBBY EXPR HPQ CHWY HPE SNAP

Stocks Lack Direction at Open, Crude Oil Drops

Aug 31, 2022
Barry Adams
Private sector job additions slowed sharply in August as employers struggle with economic uncertainties. Mortgage applications and volumes declined as rates continue to climb.

Stocks Extend 3-day Slump and Look Beyond Labor Market Strength

Aug 30, 2022
Barry Adams
U.S. stocks extended losses for the third day in a row and 2-year Treasury yield rises to a high since 2007 on stagflation worries. Crude oil prices fell 4% after Iraq confirmed that oil exports are not affected by the current civil unrest.

Big Lots Swings to Quarterly Loss, Inventories Rise 23%

Aug 30, 2022
Scott Peters
The bargain outlets operator is struggling with rising costs, weakening consumer demands and elongated supply times. The retailer's core customer base is struggling with high fuel prices and high inflation.

BIG

Best Buy Domestic Comparable Second Quarter Sales Fall 12.7%

Aug 30, 2022
Scott Peters
The electronic retailer reported sales, comparable sales and net income declined in the second quarter as high inflation and energy prices kept consumers away from purchasing expensive electronic item purchases.

BBY

Movers: Baidu, Best Buy, Big Lots, First Solar, Lucid Group, Netflix, Peloton

Aug 30, 2022
Barry Adams
Best Buy sales, comparable sales and earnings dropped as consumers avoid shopping expensive electronics. Big Lots comparable sales declined lapping stimulus driven purchases. Peloton said it needs more time to file its annual report.



Stocks Lack Direction, Bond Yields and Energy Prices Ease

Aug 30, 2022
Barry Adams
Corporate stock repurchase activities are likely to accelerate in the remainder of the year ahead of the start of the buyback tax next year.

BIDU BIG BBY FSLR

Treasury Yields Rise and Stocks Extend Losses

Aug 29, 2022
Barry Adams
Central bankers in the U.S. and Europe are expected to lift rates by at least 50 basis points at their next meetings and policymakers are playing catch up after four-decade high inflation spread wide and deep in the broader economies across the Atlantic.

Movers: Bristol-Myers, Catalent, Etsy, Moderna, Pinduoduo, Walmart

Aug 29, 2022
Barry Adams
Walmart announced a public offer to acquire remaining shares in South Africa-based retailer. Bristol-Myers said it plans to continue additional trials for its new blood thinner products despite the latest setback.

MRNA ETSY BMY WMT PDD CTLT

Stocks On Wall Street Fall On Rate Path Worries, Bond Yields Rise

Aug 29, 2022
Barry Adams
Stocks extended Friday's market selloff as investors focus on the implications of rising rates on the broader economy and company earnings. Energy complex stocks advanced.

Major Indexes Plunge 3% After Powell's Tough Talk

Aug 26, 2022
Barry Adams
Fed chief's tough stance against high inflation prompted a sharp selloff on Wall Street and in Europe. Indexes sank as investors recalibrated rate outlook after Powell hinted taming inflation may take longer and need tougher measures.

European Markets Extend Weekly Losses On Rate-hike Jitters

Aug 26, 2022
Barry Adams
European markets extended weekly losses after comments from the U.S. Fed Chairman Powell heightened rate jitters. U.K. regulator lifted price cap on energy bills, reflecting sharp jump in market prices.

Workday Q2 Revenues Rise 22%

Aug 26, 2022
Scott Peters
The human resource software provider said revenues in the quarter rose but also reported a wider loss on the account of non-cash expenses.

WDAY


Ulta Same Store Sales Growth Plunges to 14%

Aug 26, 2022
Scott Peters
The cosmetic retailer revised higher annual sales outlook as the company battles decelerating sales growth. Net income in the latest quarter rose 18%.

ULTA