Robinhood’s 23% cut to its staff will boost profitability and could move shares higher in the near future, according to some analysts. The company on Tuesday announced the staff reduction shortly after the bell — which comes just a few months after Robinhood cut 9% of its workforce — and preannounced earnings showing a decline…
SINGAPORE — Shares in the Asia-Pacific were mixed Wednesday after a negative session on Tuesday as geopolitical tensions between the US and China intensified over US House Speaker Nancy Pelosi’s visit to Taiwan. In Australia, the S&P/ASX 200 fell 0.14%. The Kospi in South Korea slipped 0.22% and the Kosdaq declined 0.13%. Japan’s Nikkei 225…
James Bullard Olivia Michael | CNBC St. Louis Federal Reserve President James Bullard said Tuesday that he still thinks the economy can avoid a recession, even though he expects the central bank will need to keep hiking rates to control inflation. “I think that inflation has come in hotter than what I would have expected…
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Starbucks is expected to report its fiscal third-quarter earnings after the bell Tuesday. Here’s what Wall Street analysts surveyed by Refinitiv are expecting: Earnings per share: 75 cents expected Revenue: $8.11 trillion expected The coffee giant suspended its fiscal 2022 outlook last quarter, citing the uncertainty caused by Covid lockdowns in China, the company’s second-largest…
As inflation hits consumer spending, several stocks will not only weather the storm, but are poised to move higher, according to Barclays. The consumer-related names were chosen based on Barclays’ view that spending growth, once the key driver of economic expansion during Covid, is now fading to be ordinary, or worse. The firm also believes…
Mary Daly, President of the Federal Reserve Bank of San Francisco, poses after giving a speech on the US economic outlook, in Idaho Falls, Idaho, US, November 12 2018. Ann Saphir | Reuters The Federal Reserve still has a lot of work to do before it gets inflation under control, and that means higher interest…
An Uber banner on the New York Stock Exchange on the day of Uber’s IPO, May 10, 2019. Source: NYSE Check out the companies making headlines in midday trading Tuesday. Uber Technologies — Uber shares popped 17.6% after the ride-hailing giant reported a quarterly revenue that beat analyst expectations. The company’s revenue came in at…
Value stocks have become so cheap relative to earnings that companies have been able to buy back a larger portion of their own market cap, David Einhorn says. The star manager’s Greenlight Capital just posted its best ever quarterly performance relative to the S & P 500 – and Einhorn attributed much of the success…
Billionaire hedge fund manager Bill Ackman said Tuesday that the US economy is not in a recession right now but that the Federal Reserve needs to be significantly more aggressive to defeat inflation. The CEO of Pershing Square Capital Management told CNBC’s “Squawk Box” said that the Federal Reserve has so far failed to tighten…
