Company News for May 11, 2023

Fortune
Jamie Dimon says Americans are on an economic ‘sugar high’—and he’s urging clients to batten down the hatches and prepare for rates to hit 7%
The JPMorgan CEO spelled out what he sees as the worst-case scenario for the U.S. economy, and warned that not everyone would be able to withstand it.
1d ago
Reuters
Chipmaker Micron forecasts first-quarter revenue above estimates
(Reuters) -Micron Technology forecast first-quarter revenue above Wall Street estimates on Wednesday, powered by demand for its memory chips from the rapidly growing artificial intelligence sector. Demand for high-bandwidth memory chips, a market which is led by SK Hynix, for use in AI has also raised investor hopes that Micron will be able to weather a slow recovery in other end markets. Micron said Wednesday that it expects to start production of lucrative high-bandwidth memory, which is used in many AI chips, next year.
40m ago
Bloomberg
Elon Musk Says Auto Union’s Demands Would Bankrupt Big Three Carmakers
(Bloomberg) -- Tesla Inc. Chief Executive Officer Elon Musk blasted the United Auto Workers Tuesday, saying the union’s demands would “drive GM, Ford and Chrysler bankrupt in the fast lane.” Most Read from BloombergChina Puts Evergrande’s Billionaire Founder Under Police ControlDimon Warns 7% Fed Rate Still Possible, Times of India SaysRepublican Moderates Turn to Rare Maneuver to Avoid Lengthy Government ShutdownIndians Have Five Days to Deposit $3 Billion in Soon-to-Be-Withdrawn BanknotesTrump
1d ago
Investopedia
NextEra Energy Subsidiary Cuts Its Distribution Growth Outlook and Shares of Both Sink
NextEra Energy subsidiary, NextEra Energy Partners, LP, significantly reduced its distribution growth outlook, blaming Federal Reserve moves to fight inflation, and shares of both plunged.
38m ago
Investor's Business Daily
Memory-Chip Maker Micron's Earnings Top Views, Outlook Mixed
Memory-chip maker Micron reported fiscal fourth-quarter results that fell from a year earlier but topped estimates amid an industry downturn.
22m ago
SmartAsset
Forget About ‘Timing the Market': Schwab Research Reveals the Optimal Way to Invest
Can investors realistically time the market to maximize returns, especially over the long term? According to a recent study from Charles Schwab, perfect market timing is practically impossible. The firm’s research showed that most investors are better off investing as soon as possible using a buy-and-hold strategy rather than trying to predict short-term peaks and […] The post Forget About ‘Timing the Market’: Schwab Research Reveals the Optimal Way to Invest appeared first on SmartReads by Smar
10h ago
TipRanks
Insiders Pour Millions Into These 2 Beaten-Down Stocks, Analysts Say They Could Be Ready to Bounce Back — Here’s Why You Should Take Notice
In the world of stock markets, a well-known adage prevails: insiders may sell shares of their own companies for a myriad of reasons, but their decision to buy stock typically hinges on one belief – that the shares are set to rise. By insiders, we mean the corporate officers that sit on company boards and are the in-the-know types with access to the sort of information not available to the casual investor. By law, they are required to make their purchases public, thereby keeping the playing field
1d ago
Reuters
Target to shut 9 stores across 4 US states amid rising retail crime
Despite heavy investments in security, the company continued to face "fundamental challenges" to running the stores safely, the retailer said. It operates nearly 2,000 stores across the United States. "We cannot continue operating these stores because theft and organized retail crime are threatening the safety of our team and guests, and contributing to unsustainable business performance," Target said in a statement.
1d ago
Benzinga
Jeff Bezos's Former Housekeeper Sued Him, Alleging That 14-Hour Shifts And Lack of Bathroom Access Led to Frequent UTIs; Claims She Was Only Allowed To Eat In The Laundry Room And Faced Racial Discrimination — Hired To Work Without Being Seen By The Family
Mercedes Wedaa, a former housekeeper for Amazon.com Inc. Founder Jeff Bezos, filed a lawsuit against him and two companies responsible for managing his properties. The lawsuit, filed in November 2022 in Seattle, claims that she and other employees worked in unsafe and unsanitary conditions for extended 14-hour shifts without breaks. According to Wedaa, she was hired in 2019 with the requirement that she "work around a family without being seen." Trending: Until 2016 it was illegal for retail inv
1d ago
SmartAsset
Schwab Says Doing This Could Potentially Double Your Retirement Savings
After beginning the year at record levels, global events have caused market volatility to jump and equities to fall. The S&P 500 Index is experiencing its first major correction since 2020, so investors are understandably looking to safeguard their assets. … Continue reading → The post Schwab Says This Can Double Your Retirement Savings appeared first on SmartAsset Blog.
1d ago
Zacks
Hanesbrands (HBI) Down More Than 15% in 6 Months: Here's Why
Hanesbrands (HBI) is grappling with a rising inflationary environment and persistent macro-driven slowdown in consumer spending.
7h ago
Fortune
The S&P is heading below 3,000. Basic math (and a metric beloved by famed economist Robert Shiller) suggests it
Stocks have suffered a rough September, with the S&P 500 dropping from 4,516 at the month's start to 4,275. Look out below?
1d ago
Bloomberg
JPMorgan ‘Options Whale’ Worries Resurface as Stocks Extend Drop
(Bloomberg) -- To Wall Street worrywarts, a large options position owned by a JPMorgan Chase & Co. equity fund has the potential to add fuel to this sweeping US stock selloff.Most Read from BloombergChina Puts Evergrande’s Billionaire Founder Under Police ControlCitadel Is Ready to Fight With SEC Over WhatsApp ProbeBond Selloff Grinds on as Oil Tests $94 a Barrel: Markets WrapRepublican Moderates Turn to Rare Maneuver to Avoid Lengthy Government ShutdownDimon Warns 7% Fed Rate Still Possible, Ti
4h ago
Zacks
The Zacks Analyst Blog Highlights Tesla, BYD, NIO and Honda
Tesla, BYD, NIO and Honda are part of the Zacks top Analyst Blog.
8h ago
SmartAsset
Ask an Advisor: I'm 49 With $500k in Savings But ‘I'm Concerned' About Retirement Income and Annuities Are ‘Too Expensive.' What Are My Options?
I’m 49 years old and I’ve had a steady job for over 15 years now as a government contractor. I plan to retire at around 65. I have $500,000 in savings between my 401(k), IRA and individual savings accounts. I’m renting, I don’t have any debt and I have a small family of three. I’m […] The post Ask an Advisor: I’m 49 With $500k in Savings But ‘I’m Concerned’ About Retirement Income and Annuities Are ‘Too Expensive.’ What Are My Options? appeared first on SmartReads by SmartAsset.
5h ago
Bloomberg
S&P 500 Options Quirk Mints Billions, Stirring Manipulation Talk
(Bloomberg) -- The fate of stock options with a face value of trillions of dollars is being influenced by unusual trading activity in the S&P 500 outside regular market hours, new research has found.Most Read from BloombergChina Puts Evergrande’s Billionaire Founder Under Police ControlCitadel Is Ready to Fight With SEC Over WhatsApp ProbeBond Selloff Grinds on as Oil Tests $94 a Barrel: Markets WrapRepublican Moderates Turn to Rare Maneuver to Avoid Lengthy Government ShutdownDimon Warns 7% Fed
6h ago
Benzinga
Warren Buffett's $31,500 House Is Now Worth $1.44 Million But He Says He Would Have Made Far More Money By Renting Instead
Dubbed the Oracle of Omaha, Warren Buffett is renowned for his simple and frugal lifestyle. Despite being the sixth richest person globally, with a net worth estimated at $117.9 billion, Buffett continues to live in the same modest home in Omaha that he purchased in 1958 for just $31,500. Adjusted for inflation, that amount today would be approximately $328,990.80, a mere 0.000279% of his total net worth. Buffett has consistently ranked the purchase of his home as the third-best investment he ha
1d ago
CBS MoneyWatch
Donald Trump and his company "repeatedly" violated fraud law, N.Y. judge rules
"The documents here clearly contain fraudulent valuations that defendants used in business," Judge Engoron wrote in his ruling, ordering Trump's New York business certificates canceled.
1d ago
Investor's Business Daily
The Fed's Key Inflation Rate Is Sinking As Interest Rates Climb; S&P 500 May Take Note
The core PCE price index, the Fed's key inflation gauge, should show further cooling Friday, easing interest-rate fears.
6m ago
Bloomberg
Auto Workers Aren't Striking Only For Higher Wages. They Want Their Pensions Back, Too
(Bloomberg) -- On picket lines around the country, auto workers aren’t just demanding higher wages. They want to get back their once-sacred retirement pensions.Most Read from BloombergChina Puts Evergrande’s Billionaire Founder Under Police ControlCitadel Is Ready to Fight With SEC Over WhatsApp ProbeBond Selloff Grinds on as Oil Tests $94 a Barrel: Markets WrapRepublican Moderates Turn to Rare Maneuver to Avoid Lengthy Government ShutdownDimon Warns 7% Fed Rate Still Possible, Times of India Sa
8h ago

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Company News for May 11, 2023

Recommended Stories

Jamie Dimon says Americans are on an economic ‘sugar high’—and he’s urging clients to batten down the hatches and prepare for rates to hit 7%

Chipmaker Micron forecasts first-quarter revenue above estimates

Elon Musk Says Auto Union’s Demands Would Bankrupt Big Three Carmakers

NextEra Energy Subsidiary Cuts Its Distribution Growth Outlook and Shares of Both Sink

Memory-Chip Maker Micron's Earnings Top Views, Outlook Mixed

Forget About ‘Timing the Market': Schwab Research Reveals the Optimal Way to Invest

Insiders Pour Millions Into These 2 Beaten-Down Stocks, Analysts Say They Could Be Ready to Bounce Back — Here’s Why You Should Take Notice

Target to shut 9 stores across 4 US states amid rising retail crime

Jeff Bezos's Former Housekeeper Sued Him, Alleging That 14-Hour Shifts And Lack of Bathroom Access Led to Frequent UTIs; Claims She Was Only Allowed To Eat In The Laundry Room And Faced Racial Discrimination — Hired To Work Without Being Seen By The Family

Schwab Says Doing This Could Potentially Double Your Retirement Savings

Hanesbrands (HBI) Down More Than 15% in 6 Months: Here's Why

The S&P is heading below 3,000. Basic math (and a metric beloved by famed economist Robert Shiller) suggests it

JPMorgan ‘Options Whale’ Worries Resurface as Stocks Extend Drop

The Zacks Analyst Blog Highlights Tesla, BYD, NIO and Honda

Ask an Advisor: I'm 49 With $500k in Savings But ‘I'm Concerned' About Retirement Income and Annuities Are ‘Too Expensive.' What Are My Options?

S&P 500 Options Quirk Mints Billions, Stirring Manipulation Talk

Warren Buffett's $31,500 House Is Now Worth $1.44 Million But He Says He Would Have Made Far More Money By Renting Instead

Donald Trump and his company "repeatedly" violated fraud law, N.Y. judge rules

The Fed's Key Inflation Rate Is Sinking As Interest Rates Climb; S&P 500 May Take Note

Auto Workers Aren't Striking Only For Higher Wages. They Want Their Pensions Back, Too