Tesla is not alone: 18 (and a half) other big stocks are headed for their worst year on record

Tesla is not alone: 18 (and a half) other big stocks are headed for their worst year on record

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

Christie’s Sells Record $8.4 Billion in Art, Spurred by Big Estates and Young Bidders

Christie’s Sells Record $8.4 Billion in Art, Spurred by Big Estates and Young Bidders

Christie’s International said Monday it sold $8.4 billion in art this year, up 17% from the year before, lifted by the $1.6 billion total estate sale of Microsoft co-founder Paul Allen and an influx of millennial collectors globally. Christie’s said its sales broke down to $7.2 billion in auction sales this year, up 33% from … Read more

Sotheby’s Sold $7.7 Billion in 2022; Art Market Shows Signs of Possible Slowdown

Sotheby’s Sold $7.7 Billion in 2022; Art Market Shows Signs of Possible Slowdown

The shiny veneer of a resilient art market is starting to show some cracks. Sotheby’s said its fine art and collectible sales topped $6.8 billion this past year, down 7% from 2021, a sum that still represents the second-highest total in the 278-year-old company’s history. The house’s sales include $5.4 billion in auctioned art sales … Read more

SEC Set to Propose Rules That Would Squeeze Stock-Market Middlemen

SEC Set to Propose Rules That Would Squeeze Stock-Market Middlemen

WASHINGTON—Regulators are set to propose the biggest changes to U.S. stock-market rules since the mid-2000s, aiming to give small investors better prices on their trades and reduce some advantages enjoyed by high-speed trading firms. The Securities and Exchange Commission is preparing to vote on four proposals, along with a separate final rule related to insider … Read more

Albertsons’ $4 Billion Dividend Payout Remains Blocked

Albertsons’ $4 Billion Dividend Payout Remains Blocked

Kroger is the top U.S. supermarket operator by sales. Photo: elijah nouvelage/Agence France-Presse/Getty Images Updated Dec. 10, 2022 3:16 pm ET A Washington state judge on Friday extended a temporary restraining order blocking a $4 billion dividend that Albertsons ACI -0.88% Cos. planned to pay its shareholders amid its plans to be bought by Kroger … Read more

CVS Tries Out Remote System to Help Fill Prescriptions

CVS Tries Out Remote System to Help Fill Prescriptions

CVS Health Corp. CVS 0.91% is testing a system that allows pharmacists to process prescriptions in part remotely, a move it said could improve store working conditions and the experience for customers as the company grapples with a shortage of pharmacists. CVS has equipped roughly 8,000 of its more than 9,000 U.S. drugstores with technology … Read more

Hennes & Mauritz to lay off 1,500 workers, book restructuring charge of around $75.6 million

Hennes & Mauritz to lay off 1,500 workers, book restructuring charge of around $75.6 million

STOCKHOLM–Sweden’s Hennes & Mauritz AB said Wednesday that it expects to book a restructuring charge of just over 800 million Swedish kronor ($75.6 million) in the fourth quarter related to its cost-cutting program. The fashion retailer HM.B, +0.49% has previously outlined plans to reduce annual administrative and overhead costs by around SEK2 billion in a … Read more

Hennes & Mauritz to Book 4Q Restructuring Charge of Around $76 Mln

Hennes & Mauritz to Book 4Q Restructuring Charge of Around $76 Mln

By Dominic Chopping STOCKHOLM–Sweden’s Hennes & Mauritz AB said Wednesday that it expects to book a restructuring charge of just over 800 million Swedish kronor ($75.6 million) in the fourth quarter related to its cost-cutting program. The fashion retailer has previously outlined plans to reduce annual administrative and overhead costs by around SEK2 billion in … Read more

Carvana Faces Cash Crunch From High Debt, Rising Interest Rates

Carvana Faces Cash Crunch From High Debt, Rising Interest Rates

Carvana Co. CVNA -3.13% , the used-car dealer that was a pandemic winner, is rushing to conserve cash as once-plentiful financing options dry up and business deteriorates. On Friday, Carvana laid off about 1,500 people, its second round in six months. Its weakening finances mean raising funds would be difficult and costly, and it could … Read more

Andy Warhol’s Colossal ‘Crash’ Sells for $85.4 Million at Sotheby’s

Andy Warhol’s Colossal ‘Crash’ Sells for $85.4 Million at Sotheby’s

When Andy Warhol’s colossal view of a car accident first came at auction in 1987, the silk-screen sold for $660,000. On Wednesday, bidders got another chance at it—and the work resold at Sotheby’s for $85.4 million. Looming 12 feet over audiences like an oversize reel of film reel stuck on pause, Warhol’s “White Disaster (White … Read more