Shares of Darden Restaurants jumped almost 4% in early trade on Thursday after the restaurant company posted better-than-expected fiscal 3Q results. Darden’s (DRI) 3Q earnings of $0.98 per share plunged 48.4% on a year-over-year basis but outpaced Street estimates of $0.69 per share. Total sales of $1.73 billion topped analysts’ expectations of $1.63 billion. However,
Take a look at some of the biggest movers in the premarket: Rite Aid (RAD) – Rite Aid expects to report a loss for its just-concluded fiscal year, compared to analysts’ forecasts of a $125 million profit. The drugstore chain was hit by a 37% drop in sales of cold, cough and flu-related products, as
Authored by David Stockman via Contra Corner blog, If you want to understand why we are heading for a financial Gotterdammerung, just consider the specious nonsense and mendacious cant that issued from JayPo’s post-meeting presser last week. It’s all the worse because this drivel is not just his opinion – it embodies the oppressive groupthink of
Cryptocurrency Hard Forks vs. Airdrops: An Overview If you’ve followed the cryptocurrency world for even a short time, it’s likely that you’ve heard both the terms hard fork and airdrop come up before. Perhaps you’ve even seen the totals in your digital currency wallet increase for no apparent reason at all and then discovered it was
Credit Suisse bank. NurPhoto | NurPhoto | Getty Images One Wall Street firm may have found a solution to the unhappiness of overworked junior bankers amid a boom in deal activity: Money. Credit Suisse executives told mid- and entry-level investment bankers Wednesday that they were getting special $20,000 bonuses in the second quarter, and that
Billions of dollars are set to flow from stocks to bonds around the end of March as big investors move money to rebalance their portfolios, analysts say. The large fall in bond prices and a rally in stocks in the first three months of the year have thrown many investors’ typical portfolio mix of 60
Cineworld has reported a record $2.3bn loss and is turning to shareholders for permission to suspend its borrowing limits, allowing it to raise debt for the third time during the pandemic. The cinema group said on Thursday that it had secured commitments for a $213m convertible bond maturing in 2025, which would provide a “significant
A trio of planners including a mother-daughter team launched a business training program for fellow advisors aiming to keep up with the growing demand for financial advice. 3rivers, founded in October by Judy and Lisa VanArsdale and Nancy Knous, is an online service for instructional practice management videos and resources at a cost of $599
After recording new all-time highs all throughout 2021, the value of Theta (THETA) dropped 25% in less than 24 hours leading into March 25, following news that the project’s mainnet launch had been pushed back two months. Theta is a blockchain-based video streaming platform that was gearing up for its official Mainnet 3.0 launch next
For several years there has been some resistance to wall-to-wall carpeting in the home because it gets dirty and is often difficult to clean. Spot remover doesn’t always do the trick. Carpeting can also be limited in design and expensive to install. But an excellent alternative to wall-to-wall carpet are carpet tiles. These are sisal
The CEO of United Wholesale Mortgage on Wednesday defended a recent controversial move in a crosstown battle with rival Quicken Loans. UWM earlier this month said it would no longer work with any mortgage brokers who also conducted business with Quicken and another competitor, Fairway Independent Mortgage in Wisconsin. “I know how different people want
press release PRESS RELEASE. The leading blockchain developer platform, Alchemy, will bring its best-in-class suite of APIs and tools to Flow blockchain, empowering Fortune 500 companies as well as thousands of independent developers building on Flow. Alchemy is the leading API platform for blockchain developers, already powering more than $25 billion in annual transaction volume
By Steven Schragis, Next Avenue How many times have you heard people say, “I can’t wait for things to go back to the way they were before the pandemic.”? I was one of those people, stuck in my ways and not wanting to face what would happen to my adult-education business, One Day University, if
North Carolina Gov. Roy Cooper on Wednesday recommended placing a $4.7 billion general obligation bond referendum before voters in November. As Cooper released his recommended budget of $55.9 billion for fiscal years 2021 through 2023, he noted the bonds would address the state’s infrastructure needs. He pointed out the advantages of the current low interest-rate
By Asha Sistla (Reuters) – Gold prices edged higher on Thursday as surging COVID-19 cases across Europe fuelled concerns about the pace of economic recovery, although a stronger U.S. dollar curbed the metal’s gains. Spot gold was up 0.1% at $1,736.51 per ounce by 0533 GMT. U.S. gold futures were up 0.2% at $1,736.50 per
Although dovish, Powell downplayed the bond yield rally. The Fed’s more tolerant stance on inflation is good for gold, but the metal may… by Arkadiusz Sieron of Sunshine Profits Although dovish, Powell downplayed the bond yield rally. The Fed’s more tolerant stance on inflation is good for gold, but the metal may continue its bearish
Shares of Evolus fell 10.4% in Wednesday’s extended trading session after the performance beauty company reported a wider-than-expected loss for 4Q. Evolus (EOLS) posted a GAAP net loss of $3.28 per share which is significantly higher than the Street’s estimates of a $0.34 loss per share. 4Q revenues of $20.6 million surpassed analysts’ expectations of
A logo of GameStop seen in Stephen’s Green Shopping Centre in Dublin. Artur Widak | NurPhoto | Getty Images Check out the companies making headlines in midday trading. GameStop — Shares of the brick-and-mortar retailer tanked 33.8% after failing to give investors enough details about its turnaround plan and acknowledging in a filing that it
Have you ever wished that you had the time to research a security that you owned or wanted to buy? Conducting in-depth research on a company takes a substantial amount of time and there is a mountain of information that must be sifted through in order to do it well. For busy investors, this is
A Fidelity Investments location in New York. Scott Mlyn | CNBC Fidelity Investments is preparing to launch its own bitcoin fund as the investment giant works to cement its clout in the market for digital assets and virtual currency. FD Funds Management, a subsidiary of Fidelity, said on Wednesday that it plans to provide financial
North Korea has conducted its second significant weapons test in the past week, as a return to military provocations by nuclear-armed Kim Jong Un creates one of the first big foreign policy challenges for Joe Biden and US allies. According to South Korea’s joint chiefs of staff, the North Korean military fired at least two projectiles
Moncef Slaoui, the former GlaxoSmithKline research boss who became the Trump administration’s vaccine tsar, has been accused of sexual harassment and inappropriate conduct towards an employee during his time at the UK drugmaker. GSK on Wednesday said an investigation by a law firm had substantiated the allegations, which involved incidents that occurred several years ago.
It was a bad day for Cathie Wood. And it was a very strange trading day. For weeks, stocks have been held hostage to Treasury yields, particularly the 10-year. As yields moved up, stocks, particularly high-multiple megacap stocks, moved down. If yields dropped, tech rallied. That relationship has broken down. Yields have been down three
ETFs may make up a minority of most client portfolios, but clients want to buy more of them. Over the next five years, investors plan to raise their exposure to ETFs, to a mean of 38% of their portfolios, up from 29% today, according to Charles Schwab’s new ETF Investor Study, which surveyed more than
Crypto-powered esports streaming app Theta’s mainnet 3.0 launch has been delayed until June. In an announcement from Theta Labs, the company stated that its development team is still working “to incorporate some building blocks” for a non-fungible token, or NFT, marketplace for the Theta Mainnet 3.0. They are also working to ensure that the network
Pacaso, a marketplace for second homes, has raised $75 million in Series B financing that gives the five-month-old business a valuation north of $1 billion, the company announced on Wednesday. Pacaso, which was founded by CEO Austin Allison and Zillow cofounder Spencer Rascoff, has raised over $90 million to date. The company specializes in subdividing
A 21,000-square-foot megahome in South Florida is the most expensive non-oceanfront home ever sold in Delray Beach, and its $19 million sale price makes it the the town’s top sale in over three years, according to the MLS. “Resort-style living is a driving force in the ultra-luxury market,” listing agent Senada Adzem tells CNBC, “People are rethinking
Non-fungible token (NFT) collectibles have been seeing relentless demand and publicity these days. While the Ethereum network has been the dominant force in this space, a great number of alternative blockchains have been introducing NFT support. In recent weeks, Bitcoin Cash proponents have been leveraging an NFT marketplace called juungle.net. The marketplace has a myriad
When the Covid relief bill was passed earlier this month, multiemployer pensions received their long-sought $86 billion bailout, to the relief of some and the consternation of others. But, it turns out, they weren’t the only type of pension plan that has been seeking federal help. Consider these cases: Church plans From the Albany Times
Municipals were firmer across the curve as the New York City Transitional Finance Authority repriced its $1 billion deal to double-digit lower yields and the primary and stronger U.S. Treasuries again helped to direct secondary markets stronger. The Investment Company Institute Wednesday reported another week of inflows with $2.234 billion coming into long-term municipal bond