Walmart (NYSE: WMT) just trounced third-quarter estimates. Despite supply-chain woes, the world’s largest company by revenue posted 9.2% comparable-store sales growth in the U.S., good for a two-year growth rate of 15.6%. Sales at Sam’s Club were even stronger with comps jumping 13.9% or 25% on a two-year basis. Overall revenue rose 4.3% to $140.5 […]
Hit hardest by the pandemic in the beginning, low-wage workers are now reaping the biggest gains in their paychecks. The main reason: These workers are more susceptible to changes in the job market. Higher earners typically have more power in the workplace because they are harder and more expensive to replace, leading to higher wages […]
Japan is making a major stimulus move to jumpstart that country’s economy which has been weakened by the coronavirus pandemic. Japan’s prime minister outlined Friday a record 56 trillion yen, or $490 billion stimulus package, including cash handouts and aid to ailing businesses. “The package has more than enough content and scale to deliver a […]
Consider the headline or TV-screen-crawl you’ve seen (a lot) since the October consumer price index hit the news. It said something like: “Inflation Hits 30-year High, Democrats Doomed.” Year over year, things cost 6.2% more this October than last, and the steepest increases were for food and energy — especially energy. Gas prices proclaim their […]
Is the global economy in uncharted territory now vis-a-vis Bitcoin (BTC) and inflation? During most of the cryptocurrency’s brief life, the economic environment has been generally pro-growth with stable prices but recently, there are fresh warnings of an inflationary storm. If so, what does it mean for Bitcoin, long promoted by partisans as an inflation […]
U.S. stocks finished mixed as the Dow and S&P 500 were weighed down by fears related to rising COVID-19 lockdowns in Europe while techs forged ahead. The Nasdaq Composite hit a fresh record, closing above 16,000 for the first time, while the Dow Jones Industrial Average slipped 268.97 points or 0.75% and the S&P 500 […]
GUANGZHOU, China — Alibaba on Thursday missed revenue and earnings expectations for the September quarter, as slowing economic growth in China weighed on results, adding to regulatory headwinds. Here’s how Alibaba did in its fiscal second-quarter, versus Refinitiv consensus estimates: Revenue: 200.69 billion yuan ($31.4 billion) vs. 204.93 billion yuan estimated, a 29% year-on-year rise. EPS: 11.20 yuan vs. […]
Lexus was rated the most reliable automaker in Consumer Reports’ 2021 Auto Reliability Report, followed by Mazda and Toyota, while Jeep, Tesla and Lincoln were at the bottom of the list. The report, which was released Thursday, focuses on what went wrong with owners’ cars in the last 12 months, and uses that data to […]
Shares in Indian digital payments platform Paytm have plunged by more than 27% on their Mumbai stock market debut. The company raised $2.5bn in the country’s biggest ever initial public offering (IPO). Some investors have voiced concerns about the loss-making Paytm’s business model. The firm counts Chinese payments giant Ant and Japanese technology group SoftBank […]
Shares of salad chain Sweetgreen closed up 76% Thursday afternoon, surging in the company’s public market debut. The stock opened at $52 a share, giving the company a market value of more than $5.5 billion. The company priced its initial public offering at $28 a share Wednesday evening, above its marketed range of $23 to […]
Nvidia (NVDA) reported its Q3 earnings after the bell on Wednesday beating analysts’ predictions on the top and bottom line as revenue jumped 50% year-over-year. Here are the most important numbers from the report compared to what Wall Street was expecting from the company, as compiled by Bloomberg. Revenue: $7.1 billion versus $6.81 billion expected. Earnings per share: $1.17 […]
Walmart and Target put up strong third-quarter performances this week, beat Wall Street’s expectations and spoke of holiday shoppers already starting to splurge on gifts and gatherings this season. Yet the investor response was swift: A brutal sell-off. Target shares closed down about 5% Wednesday. Walmart closed down nearly 3% on Tuesday, after its earnings […]
