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U.S. Stocks Advance, Smaller Q2 GDP Contraction

Aug 25, 2022
Barry Adams
U.S. economy in the second quarter contracted at a smaller rate but a measure of inflation rose faster than previously estimated. Energy prices edged lower but traded near recent highs.

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Nordstrom Second Quarter Sales Rise 12%, Plans to Cut Inventories and Costs

Aug 24, 2022
Scott Peters
The luxury retailer reported rising sales and earnings in the second quarter but the company plans to cut costs and inventories as the demand weakens at its outlet stores.

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Stocks, Bond Yields, Energy Prices Advance In U.S. and Europe

Aug 24, 2022
Barry Adams
Stocks on Wall Street and in Europe closed higher for the second day in a row. Federal Reserve stepped up high-inflation rhetoric. Crude oil and natural gas prices advanced despite the demand worries from China.

Chili's Parent Brinker International Fiscal Q4 Net Drops 47%

Aug 24, 2022
Scott Peters
The operator of Chili's and Maggiano's restaurant chains struggled with rising food and labor costs. Comparable restaurant sales continue to decelerate in the quarter.

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Advance Auto Parts Net Income Falls 19%, Trims Sales Growth Outlook

Aug 24, 2022
Scott Peters
The auto parts retailer said higher fuel costs negatively impacted do-it-yourself business and net income and free cash flow plunged.

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Toll Brothers Net Signed Contract Value Plunged 44%

Aug 24, 2022
Scott Peters
The luxury home builder said new contract value plunged 44% as rising rates and home prices curbed the demand from move-up buyers.

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Movers: Advance Auto Parts, Brinker Intl, Farfetch, Nordstrom, Petco, Peloton, Toll Brothers

Aug 24, 2022
Barry Adams
Toll Brothers lowered its annual home delivery guidance but lifted the average home sale price outlook. Nordstrom said it plans to aggressively manage its rising inventories. Advance Auto Parts said higher fuel cost is impacting its do-it-yourself business.

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Stocks Snap 3-day Losing Streak

Aug 24, 2022
Barry Adams
Stocks on Wall Street rebound after sliding for three days in a row. The fresh batch of quarterly results from retailers highlighted the shifting demand from consumers and elevated inflation.

U.S. and Global Markets Decline as Worldwide Slump Deepens

Aug 23, 2022
Barry Adams
Global markets are turning lower as investors navigate through slowing economic activities, hawkish central bankers committed to curbing demand, and 4-decade high inflation rooted in supply disruptions.

Movers: Dick's Sporting Goods, Medtronic, Palo Alto Networks, Zoom Video

Aug 23, 2022
Barry Adams
Dick's Sporting Goods struggles with shifting consumer behavior and persistent supply chain issues. Zoom Video revenue growth continues to decelerate. Medtronic sales fall on supply chain disruptions.

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Zoom Lowers Annual Outlook, Revenue Growth Slows to 8%

Aug 23, 2022
Scott Peters
The online video communication company sharply increased its enterprise customer base as total revenue growth decelerates sharply.

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Dick's Sporting Goods Comparable Sales Drop 5%

Aug 23, 2022
Scott Peters
The sporting goods retailer said sales, comparable sales, and earnings fell in its latest quarter. The company also tightened its full-year sales decline outlook as consumers shifted purchases to basic items amid soaring food and energy prices.

DKS

U.S. Stocks Waver, Bond Yields Rise, New Home Sales Plunge

Aug 23, 2022
Barry Adams
Stocks lacked direction after a broad selloff on Monday and natural gas prices soared to the levels last seen in 2008. New home sales declined in July on rising prices and mortgage rates and longer construction time.

In Broad Selloff S&P 500 Falls 2%, Yield on 10-Year Treasury Crosses 3%

Aug 22, 2022
Barry Adams
Rate path worries resurfaced and the market selloff anchored in tech stocks spread wide and deep barring the energy sector. Natural gas prices inched near $10 a unit and the volatile oil prices erased most of the 5% loss at close.



Tech Selloff Broadens Ahead of Central Bankers Gathering

Aug 22, 2022
Barry Adams
Stocks on Wall Street declined in a broad selloff after rate path worries returned and the division between Russia and the European Union deepened.