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Natuzzi Quarterly Sales and Loss Rise

Oct 3, 2022
Scott Peters
The Italian leather furniture maker reported sixth quarterly revenue gain in a row but struggled with long manufacturing lead times, Covid lockdowns in China and inflation pressures.

NTZ

U.S. Stocks Rebound, Oil Jumps 5%

Oct 3, 2022
Barry Adams
Stocks rebounded from the losses in the previous week, month and quarter. Crude oil jumped 5% on the hopes of a supply cut announcement at the next OPEC+ meeting on Wednesday.

Major Averages Suffer Weekly, Monthly and Quarterly Losses

Sep 30, 2022
Barry Adams
Stocks extended losses to the third quarter in a row after major averages fell on the last day of the week, the month, and the quarter. With inflation showing no signs of easing, rate hikes are likely to continue.

Movers: Blue Apron, Carnival Corp, Micron, Natuzzi, Nike, Rent-A-Center

Sep 30, 2022
Barry Adams
Carnival Corp struggled with business recovery and rising operating costs and large debt repayment loomed. Rent-A-Center lowered its quarterly outlook. Micron Technology guided 25% gross margin in the fiscal first quarter.

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Stocks Struggle After Fed's Core Inflation Gauge Advances

Sep 30, 2022
Barry Adams
Major averages struggled to bounce back after the latest PCE report showed elevated inflation and a difficult task ahead for the Fed. Inflation accelerated for the fifth month in a row in the eurozone to 10.0%.

Nike Quarterly Sales Rise 4%, Net Income Plunges 22%

Sep 29, 2022
Scott Peters
Nike sales in its latest quarter rose despite challenges in China and stronger dollar in Europe, Middle East and Africa. Higher costs dragged down quarterly earnings 22%.

NKE

Cintas Lifts Earnings Outlook

Sep 29, 2022
Scott Peters
The uniform and business supplies services provider lifted fiscal 2023 annual revenues and earnings outlook. In the latest quarter, the company expanded its operating margin despite higher costs.

CTAS


Worthington Industries Announces Business Separation, Earnings Dive

Sep 29, 2022
Scott Peters
Worthington Industries plans to separate its steel processing business as a stand-alone publicly traded company. Quarterly earnings declined on higher costs and weaker gross margins.

WOR

Averages Fall 2% With Rate Hike In Focus

Sep 29, 2022
Barry Adams
On Wall Street anxieties spiked up after the latest jobs data signaled wage and consumer price inflation may stay elevated longer than previously estimated. Major averages are set to close down at least 8% in September.

Movers: Apple, Bed Bath & Beyond, CarMax, Cintas, Occidental, Miller, Rite Aid, Vail, Worthington

Sep 29, 2022
Barry Adams
Vail Resorts guided strong demand for its ski resorts. Worthington Industries plans to split its businesses. Rite Aid lowered its annual outlook. CarMax confirmed softening demand. Miller Knoll focuses on lowering costs and improving cash flow.

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Asia: Nikkei Jumps 1%, Hang Seng and Sensex Extend Losses

Sep 29, 2022
Arjun Pandit
The Hang Seng index extended losses ahead of Golden Week holidays and the Sensex index dropped for the seventh session in a row.

European Markets Accelerate Declines, Record German CPI and Italian PPI

Sep 29, 2022
Bridgette Randall
European markets accelerated declines after the stronger-than-expected U.S. jobs report added to market anxieties underpinned by record German consumer inflation and record wholesale inflation in Italy.

Tech Stocks Lead 3% Sell-off After Jobs Report

Sep 29, 2022
Barry Adams
Major averages dropped between 2% and 3% after the latest jobs report highlighted labor market strength, stoking fears of higher rates sooner. Commodities turned lower after the release of jobs data.

Major Averages Rebound After Week of Losses, Lithium Climbs Higher

Sep 28, 2022
Barry Adams
Major averages rebounded and snapped a six-day losing streak and bond yield turned lower. Crude oil and natural gas closed higher and gold, silver and copper advanced.



Movers: Apple, BlackBerry, Cal-Maine, DocuSign, Paychex, Thor

Sep 28, 2022
Barry Adams
Thor Industries said quarterly sales inched higher driven by price increase. Cal-Maine Foods sales surged on increase in unit sales and higher prices. BlackBerry quarterly sales declined and loss shrank.

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