Secure Your Books
Shares of the Bentonville, Arkansas-based retailer, which is controlled by the family, tumbled as much as 9.1% in New York trading after it said adjusted earnings per share will decline as much as 13% this year with US shoppers reining in spending on big-ticket items amid soaring consumer prices. Two months ago, the company said … Read more
Investors betting against electric-vehicle stocks take note: Five of 25 stocks that short-selling research firm S3 Partners identified this month as being at risk of a short squeeze are in the EV business. Short sellers fear short squeezes. To put on a short, investors borrow shares. If the stock falls, the short seller buys them … Read more
Amazon.com agreed to add Grubhub to its suite of Prime services in the U.S., in a deal aimed at expanding the food-ordering company’s reach by tapping Amazon’s membership program. Grubhub’s parent, Netherlands-based Just Eat Takeaway.com NV said Amazon has an initial option to take a 2% stake in U.S.-based Grubhub, and U.S. Prime members can … Read more
(Bloomberg Businessweek) — A new TV commercial in India features white-clad mourners grieving at the funeral rites of a departed loved one. The object of their grief is a refrigerator. “”—or “What use is a refrigerator?”—ask matching full-page ads for the campaign touting instant grocery brand Dunzo, which offers delivery of fresh items in minutes. … Read more
Wages for the median workers at the majority of big American companies are higher than they were before the pandemic, with the tight job market helping to lift paydays for many bank tellers, factory workers and software programmers. Compensation in 2021 for the median worker at 275 companies in the S&P 500 index was higher … Read more
Text size Home Depot tops first-quarter earnings expectations. Justin Sullivan/Getty Images Home Depot ’s sales rose to the highest ever for the first quarter of the year. The retailer exceeded earnings expectations in the quarter. Earnings per share were $4.09, up from $3.86 a year earlier. Analysts expected earnings of $3.69 a share. “The solid … Read more
Text size PayPal’s has a new interim CFO. Justin Sullivan/Getty Images Walmart said late Tuesday it named John Rainey as its chief financial officer. Rainey currently holds the same position at PayPal Holdings, but his move isn’t the red flag analysts are watching ahead of the payment-processing company’s earnings. Rainey steps into his new role … Read more
Text size Things go better with Coke, as the company’s long-ago jingle proclaimed. Things are also going better for the beverage company’s stockholders, thanks to the news that its dividend will be increased. Coca-Cola (ticker: KO) said this week it is raising its annual dividend to $1.76 a share from $1.68, an increase of nearly … Read more