Consumers grow stressed as retailers gear up for back-to-school shopping

Every other week, beginning in May, Morning Consult polls consumers about back-to-school spending plans. The results of its latest survey were startling. There was a 10-point pop from the prior poll in the number of parents who say they can’t afford backpacks, notebooks, new jeans and sneakers, and other supplies. “The drop in the number … Read more

These fortress balance sheet stocks can weather a recession, Morgan Stanley says

Recession fears compounded last week, following actions from the Federal Reserve and other central banks to tame inflation, along with the release of downbeat US economic data. Those concerns pushed the S&P 500 into bear market territory, closing Friday’s session down 23.7% from its January record. The Dow Jones Industrial Average closed out the week … Read more

Moderna, Robinhood, Snowflake and more

Here are the company’s making headlines in midday trading: Moderna – The biotech stock jumped 7% after a Food and Drug Administration committee voted to recommend Moderna’s Covid vaccine to children ages six through 17. The FDA is expected to authorize vaccines for children later this week. Robinhood – Shares of the retail brokerage fell … Read more

Snowflake, Apple, Amazon, Nike, Robinhood

Here are Wall Street’s biggest calls on Wednesday: Goldman Sachs initiates Wheels Up as buy Goldman said in its initiation of the on-demand private jet company that it sees an attractive entry point. “Wheels Up is a leading company in an established and growing end-market, but one that is also fragmented and has substantial opportunity … Read more

Goldman's ways to play deglobalization, onshoring trend fueled by pandemic and Ukraine war

Goldman Sachs strategists say companies that are reducing their global exposure or benefit from onshoring are outperforming so far this year.

New Balance bulks up manufacturing presence in U.S. amid supply chain backlogs

New Balance has opened its fifth manufacturing space in North America. This one is in Methuen, Massachusetts. Source: New Balance While many retailers are struggling to preserve relationships with overseas vendors and manufacturers, against pandemic uncertainty and shaky foreign relations, one is doubling down on its presence in North America. New Balance, a privately held … Read more

Amazon, Snap, Ford, Clorox and more

The Amazon logo is seen at the company’s logistics center in Lauwin-Planque, northern France. Pascal Rossignol | Reuters Check out the companies that are making headlines in the dinner trade. Amazon – Shares in Amazon rose more than 14% after a fantastic quarterly report. The company said its investment in electric car company Rivian reached … Read more

Amazon, Snap, Ford and more

Check out the companies making headlines before the bell: Regeneron Pharmaceuticals (REGN) – The drugmaker reported adjusted quarterly earnings of $ 23.72 per share, beating the $ 18.35 consensus estimate. Revenue also topped the forecast on strong sales of the company’s Covid-19 antibody therapy as well as its eye drug Eylea. Regeneron said it is … Read more