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Text size GM has been showing off its Cadillac Lyriq SUV electric vehicle, priced like Tesla’s Model Y. Courtesy of Cadillac Inflation, rising interest rates, and recession fears have all conspired against General Motors stock. Its shares are still worth owning. Barron’srecommended buying General Motors (ticker: GM) stock in early May. The timing wasn’t great. … Read more
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
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
Text size Harold Hamm and family offered to pay $70-a-share in cash for Continental Resources. Photograph by Andrew Harrer/Bloomberg Oil producer Continental Resources stock is soaring after founder and billionaire Harold G. Hamm offered to take th company private at $70 a share in cash. Continental (ticker: CLR) stock is up more than 15% to $74.22 … Read more
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
Text size DocuSign reported fiscal first-quarter earnings well below Wall Street’s estimate. Tiffany Hagler-Geard/Bloomberg DocuSign (ticker: DOCU) shares are sharply lower in late trading Thursday after the e-signature company cut its guidance for the January 2023 fiscal year. DocuSign ’s business thrived during the pandemic, but has been slowing for the last couple of quarters. … Read more
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
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
“It feels a little bit like on variety TV shows years ago. You had those people who spin plates, and they’d go round and by the time the first one has stopped spinning, you’ve got to go back to the start and do it again. It does feel a little bit like that.” The man … Read more
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