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Shares of Discover Financial fell nearly 10% on Tuesday after the Riverwoods-Ill. Roger Hochschild will be stepping down as Chief Executive Officer, effective immediately. The company said after markets closed Monday that John Owen, a board member and former chief financial officer for Regions, will serve as interim CEO and president. Discover will work with…
US stocks saw accelerating losses at midday on Tuesday, as a week full of retail trade began to show continued consumer resilience in the United States, while China painted a bleak picture for the world’s second largest economy. The Dow Jones Industrial Average (^DJI) and the S&P 500 Index (^GSPC) were both down around 0.8%%…
font size Campus of Johnson & Johnson in Irvine, California. Mario Tama/Getty Images It is a difficult time for investors Johnson & Johnson who need to decide soon about participating in it J&J’s $40 billion exchange offer To participate in Kinfu And J&J’s consumer health business went public in May. The offer expires on Friday,…
US stock futures fell before the open on Tuesday as a week full of retail began to show continued consumer resilience in the United States, while China painted a bleak picture for the world’s second largest economy. Futures on the Dow Jones Industrial Average (^DJI) fell 0.8%, while the S&P 500 (^GSPC) lost about the…
Home Depot stock fell in pre-market trading after its second-quarter earnings as investors looked forward to a more optimistic note from the usually solid retailer. Home Depot (HD) posted a slight edge in its second-quarter earnings report on Tuesday before the market opened up as consumers I spent less On expensive discretionary items and they…
Warren Buffett.Photograph: Rick Wilking/Reuters Warren Buffett’s Berkshire Hathaway added three homebuilders to its portfolio last quarter. The investor’s company exited three shares and cut several other deals, SEC filings show. Berkshire also boosted its stakes in Capital One and Occidental Petroleum in the most recent quarter. Warren Buffett Berkshire Hathaway It trimmed its portfolio of…
(Bloomberg) — China’s central bank unexpectedly cut its key interest rate by the most since 2020 to prop up an economy that faces new risks from deteriorating real estate and weak consumer spending. Most Read from Bloomberg The People’s Bank of China cut the interest rate on its one-year loans – or medium-term lending facility…
nvidia (NVDA), micron technology (in), steel dynamics (STLD), Teledyne Technologies (TDY) And homogeneous force (MPWR) is the biggest gainer in the S&P 500 stock market today. The S&P 500 rose 0.6% on Monday. The Nasdaq jumped 1.05%, retracing just 50 days. NVDA stock rose 7.1% to 437.53, reclaiming the 50-day line after falling below that…
(Bloomberg) – Zhongzhi Enterprise Group Co., Ltd. In 1995 as a timber company, it has grown into a financial conglomerate with more than 1 trillion yuan ($138 billion) in management. Now it risks becoming the latest Chinese financial giant to fail. Most Read from Bloomberg The under-the-radar group, often dubbed China’s Blackstone by local media,…
(Bloomberg) — The Hawaiian Electric Company, which supplies energy to nearly 95% of the state’s population, traces its roots back to 1891, just a decade after King Kalākaua met Thomas Edison to see the incandescent light bulb. Now, the gadget is facing what is shaping up to be the biggest test ever on its future….
