In the worst year for stocks since the Great Recession, several big names are headed for their worst year on record with just one trading day left in 2022. The S&P 500 index SPX, +1.75% and Dow Jones Industrial Average DJIA, +1.05% are both headed for their worst year since 2008, with declines of 20.6% … Read more
As 2022 winds down and investors reflect on a horrendous year, they can take some comfort in the fact that the big guys had their share of misses. Among them is Harris Kupperman, the president of hedge fund Praetorian Capital, who recently blogged about his 2022 calls he nailed — a selloff of big tech … Read more
Epic Games Inc. has agreed to pay $520 million to resolve Federal Trade Commission allegations that the “Fortnite” videogame developer violated online privacy protections for children and tricked players into making unintended purchases. The FTC said the agreement consisted of two record-breaking settlements that resolve a pair of civil complaints it was filing against Epic. … Read more
The technology sector’s grip on the top spots in the annual Management Top 250 ranking slipped this year. Microsoft Corp. held its ground, ranking No. 1 in this measure of the best-run companies in the U.S. for the third straight year. But unlike last year, when tech companies took the first five spots in the … Read more
Some people turn on closed captions because they like how it helps them understand the plotlines of shows and movies, and multitask in front of the tube. Others turn them on because they can’t hear what actors are saying. That doesn’t always mean they are hard of hearing. Muddled audio is the top reason why … Read more
Well, that was something. Inflation came in a bit below forecast, and then the rockets came out — the best one-day percentage rise for the S&P 500 SPX, +5.54% since April 6, 2020, and the best one-day percentage rise for the Nasdaq Composite since March 24, 2020. If inflation has truly peaked, there’s really just … Read more
Kohl’s Corp. KSS 8.72% Chief Executive Michelle Gass is leaving the department-store chain early next month to join Levi Strauss LEVI -1.73% & Co. with plans to have her take over as the jeans maker’s CEO. At Kohl’s, Ms. Gass has been under attack from activist investors for sales declines and a steep drop in … Read more
Tyson Foods TSN, -0.49% chief financial officer John R. Tyson was arrested early Sunday morning after he was found sleeping in a house that wasn’t his own. A Fayetteville, Ark. woman arrived home and found Tyson, 32, passed out in her bed around 2 a.m., according to the arrest report shared by local news. The … Read more
Twitter Inc. has suffered “a massive drop in revenue” because of advertisers cutting back on using the social-media platform, new owner Elon Musk said Friday, as the company started sweeping layoffs just over a week after the billionaire took it over. Mr. Musk, in a tweet Friday, blamed the cutback in advertising on “activist groups … Read more
Slower, but higher rates and no pivot this side of Christmas. That was the message from Fed Chairman Jerome Powell after the central bank’s fourth-straight jumbo hike. Bruised investors look ready to keep selling stocks on Thursday as yields tear higher. Not everyone agrees with Powell. “The Fed is making a huge policy error, and they will manage to break … Read more