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
The Walt Disney Co.’s shares closed Wednesday at their lowest price since before the House of Mouse began releasing “Star Wars” films, as a massive 2022 decline wiped away all their pandemic-era gains and a bit more. Disney DIS, -2.55% stock closed 2.6% lower Wednesday at $84.16, the second worst performance of the day for … Read more
U.S. stocks finished sharply lower on Thursday as the Dow logged its worst day since Sept. 13, according to Dow Jones Market Data. Investors dumped stocks as fears that the Federal Reserve will keep interest rates higher for longer coincided with the weakest retail sales data in nearly a year. The S&P 500 SPX finished … 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
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
On the heels of last week’s bullish turn for stocks, the setup is looking slightly less positive for Monday. Hong Kong stocks may be affecting the mood with a giant slump after China’s leader cemented his power. And we’re entering Fed blackout period ahead of next week’s meeting that’s expected to deliver yet another three-quarters … Read more
Netflix Inc. executives on Tuesday detailed their plans to crack down on users sharing their accounts on the streaming service, which is expected to arrive early next year. In a letter to shareholders in conjunction with their third-quarter earnings report, Netflix NFLX, -1.73% executives said that they would offer those currently using other people’s accounts … Read more
Netflix Inc. added more than 2 million subscribers in the third quarter after stumbling into 2022 with two consecutive quarterly declines, a rebound that sent shares more than 15% higher in after-hours trading Tuesday. Netflix NFLX, -1.73% reported a net gain of 2.41 million subscribers in the third quarter, while analysts on average were forecasting … Read more
Microsoft Corp. is laying off nearly 1,000 workers across multiple divisions, according to news reports Monday. Axios and Business Insider reported the cuts late Monday. Sources told the news organizations that the number of layoffs was under 1,000, and span various regions and departments — including Xbox and Edge. Microsoft MSFT, +3.92% has about 221,000 … Read more
This may surprise you: Wall Street analysts expect earnings for the S&P 500 to increase 8% during 2023, despite all the buzz about a possible recession as the Federal Reserve tightens monetary policy to quell inflation. Ken Laudan, a portfolio manager at Kornitzer Capital Management in Mission, Kan., isn’t buying it. He expects an “earnings … Read more