Take a look at some of the biggest movers in the premarket: Spirit Airlines (SAVE) – Spirit shares rose 3.9% in premarket trading after it agreed to be acquired by JetBlue (JBLU) for $33.50 per share in cash. That follows yesterday’s rejection by shareholders of Spirit’s previous deal to merge with Frontier Airlines parent Frontier … Read more
Check out the companies making headlines after the bell: Meta Platforms — Shares of the social media company dipped 3% in extended trading after missing second-quarter estimates on the top and bottom lines. Meta Platforms posted its second back-to-back decline in year-over-year sales and shared disappointing guidance amid a weakening ad environment. Ford Motor — … Read more
Customers shop at a Best Buy store on August 24, 2021 in Chicago, Illinois. Scott Olson | Getty Images Best Buy on Wednesday cut its forecast for the year and the second quarter, saying it has seen weaker demand for consumer electronics amid inflation. The consumer electronics retailer said it now expects same-store sales to … Read more
Instant Pots and Roombas are typically hot selling items during Amazon’s Prime Day event. But this year, consumers were more interested in dishwasher pods, diapers and snacks. Looking at some of the most popular items during Amazon’s two day discount event, which wrapped up late on Wednesday, provides a window into how record high inflation … Read more
Prime Day prices may not be Amazon’s best-ever offer Just because something is discounted on Prime Day does not mean it’s the best deal you’ll see anywhere, or even all year. Naturally, Amazon will offer the best prices on its own gear like the Kindle, Fire TV streamer and private-label clothing. For example, the e-commerce … Read more
Walmart Rollback pricing signs are displayed while customers shop during the grand opening of a new Wal-Mart Stores location in Torrance, California. Patrick Fallon | Bloomberg | Getty Images Walmart will not be doing its own event to rival Amazon Prime Day this year, according to a company spokesperson. The big-box giant, like other retailers, … Read more
Goldman Sachs sees more pain ahead for stocks in the second half of 2022 as corporate earnings weaken. For equity investors bruised on this year’s roller coaster, the Wall Street firm broke down three stable strategies to help smooth the ride. The S&P 500 just suffered its worst first half since 1970 as investors continue … Read more
Stocks are emphatically on sale, but are they cheap? Markdowns are not always the same as bargains. Much depends on the original price and quality of the goods. And even with last week’s price drops on Wall Street, it’s tough to say yet that the market is broadly cheap. But value seems to be emerging … Read more
Over the past year, large-scale robberies have swept through stores like Louis Vuitton in San Francisco’s Union Square and a nearby Nordstrom, which was robbed by 80 people. Law enforcement and retailers have warned the public that this isn’t traditional shoplifting. Rather, what they’re seeing is theft organized by criminal networks. And there’s a reason … Read more
The shift in consumer spending and slowing US economy are ominous signs for Best Buy, according to Bank of America. Analyst Elizabeth Suzuki downgraded Best Buy to neutral from buy, saying in a note to clients that electronics spending could be in for a big correction. “Although the company expects a modest YoY decline in … Read more