Juul Ban Will Send Altria’s Strategy, and $13 Billion, Up in Smoke

Altria Group disastrous investment in Juul Labs is taking another turn for the worse. On Wednesday, The Wall Street Journal reported that the Food and Drug Administration is preparing to remove Juul e-cigarettes from the U.S. market. Banning Juul in the U.S., where it was on track to make 94% of its revenue this year, … Read more

Citigroup Stock Is the Cheapest of the Big Banks. It’s Ready to Take Off.

Text size Even Warren Buffett’s Berkshire Hathaway has been buying Citi stock, a vote of confidence if there ever was one. Mario Tama/Getty Images Bank stocks have gotten hit as concerns about the U.S. economy have grown. They’re starting to look like bargains, and none more so than Citigroup . The SPDR S&P Bank exchange-traded … Read more

Exxon May Be Making ‘More Than God.’ But Apple and Alphabet Are More Profitable.

Text size President Biden, who is hurting politically due to high inflation, took a swipe at industry leader Exxon Mobil on Friday. Brandon Bell/Getty Images Exxon Mobil may be making “more than God this year,” as President Joe Biden said Friday in Los Angeles, but it’s far from the most profitable company in the country. … Read more

Gasoline prices top $5 a gallon nationally for the first time and are likely headed higher

Prices at a Chevron gas station in Menlo Park, California, on Tuesday, May 24, 2022. David Paul Morris | Bloomberg | Getty Images The average price for a gallon of unleaded gasoline rose above $5 nationally for the first time due to increased demand from the economy reopening from the pandemic and depleted oil supplies … Read more

Stocks could build on gains in the week ahead as investors await Friday’s jobs report

Stocks could carry the momentum of this latest rally into next week as investors look ahead to Friday’s jobs report. All three major indice scored big gains in the past week, each rising higher than 6%. Both the S&P 500 and Nasdaq Composite broke a seven-week losing streak, while it had been eight weeks of … Read more

Canopy Growth Stock Is Falling as Earnings Disappoint Wall Street

Text size Canopy Growth reported a 36% drop in revenue from Canadian recreational cannabis sales compared with the same quarter a year ago. Chris Roussakis/Bloomberg Canopy Growth stock is plummeting after the marijuana company delivered financial results that fell short of expectations. The Canadian cannabis company (ticker: CGC) posted a per-share loss of 1.46 Canadian … Read more

Snowflake stock slides after earnings as company says macro issues are impacting some customer activity

Shares of Snowflake Inc. tumbled in after-hours trading Wednesday after the software company delivered a forecast for the current quarter that came in below expectations at the midpoint and acknowledged that some customers have consumed less than expected due to macroeconomic factors. The company posted a fiscal first-quarter net loss of $166 million, or 53 … Read more

Snowflake Shares Slide Despite Earnings Beat, Falling Below 2020 IPO Price

Text size Snowflake shares have tumbled sharply since last fall. Gabby Jones/Bloomberg Snowflake shares are trading sharply lower late Wednesday, on apparent investor disappointment with the financial outlook provided by the cloud-based data warehousing company.  With the late afternoon slide, Snowflake shares have fallen below their $120 September 2020 IPO price. The stock peaked above … Read more

Nvidia Reports Earnings Today. What to Expect.

Text size Nvidia recently said it was slowing down the pace of its hiring. Dreamstime Nvidia reports earnings after the close on Wednesday. While some analysts have expressed concerns over how weakness in the tech sector could impact the semiconductor maker, one analyst believes there may yet be a silver lining. Demand for data centers … Read more

Good news for home buyers? Fannie Mae chief economist says the U.S. housing market has finally turned a corner. Here’s why.

The inventory shortage, high prices and rising interest rates have finally bitten. Single-family home sales fell sharply by 16.6% in April to a seasonally adjusted annualized rate of 591,000, according to Census Bureau data released Tuesday. That was the slowest rate of sales since April 2020 during the earliest days of the COVID-19 pandemic, offering … Read more