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
PayPal Holdings Inc.’s cost-savings story began to play out in the latest quarter, but that wasn’t enough to satisfy investors as the digital payments giant also cut its revenue forecast for the full year in light of the “rough macro environment.” Shares fell 10% in after-hours trading after PayPal PYPL, -3.65% executives trimmed their revenue … Read more
Visa Inc. topped earnings expectations for its latest quarter Tuesday as the payments giant continued to call out strong consumer spending trends. Payments volume at Visa V, +1.92% grew 10% in the fiscal fourth quarter, while processed transactions increased 12%. Visa’s revenue rose to $7.79 billion from $6.56 billion and came in ahead of the … Read more
Dogged by competitive and macroeconomic threats, Meta Platforms Inc. is sinking down the ranks of the largest U.S. companies. After a 9.4% daily slide in its stock, Meta META, -9.37% ranked 10th by market value as of Tuesday’s close, falling below Visa Inc. V, -3.37% for the first time since the start of August. Meta, … Read more
A decline in gasoline prices couldn’t mask the problem that spooked investors on Sept. 13: Core consumer prices resumed their rapid increase during August. Fear of the Federal Reserve’s ongoing tightening of monetary policy to fight inflation sent the Dow Jones Industrial Average DJIA, -3.94% down 1,276 points (or 3.9%) to 31,104, with all 30 … Read more
Higher interest rates mean rising borrowing costs for consumers. But they are finally able to earn some money on their savings in return. The Federal Reserve has raised interest rates several times since March in its bid to fight high inflation and has signaled more increases are likely. Banks, in response, have gradually increased the … Read more
It’s the peak stretch of second-quarter earnings season, with roughly 150 S&P 500 firms scheduled to report this week. The highlights on the economic calendar will be a pair of purchasing managers’ index readings and jobs Friday. Wednesday’s earnings highlights will be Booking Holdings , CVS Health , eBay , and Moderna . Thursday will … Read more
U.S. stocks rose in early Monday trading as investors considered another set of earnings reports from major companies and looked ahead to a week of key central-bank meetings. The S&P 500 advanced 0.9% after the broad index on Friday ended higher, snapping a five-day losing streak. The blue-chip Dow Jones Industrial Average added 0.7% while … Read more
Text size PayPal’s has a new interim CFO. Justin Sullivan / Getty Images Walmart said late Tuesday that it had appointed John Rainey as its CFO. Rainey currently holds the same position at PayPal Holdings, but his move is not the red flag analysts keep an eye on ahead of the payment processing company’s earnings. … Read more