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Amid strong first-quarter earnings, companies are stepping up repurchases of their own shares, which is giving a resurgent stock market an extra boost.
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Walmart Stock Hits Record Close on Strong Quarter
The largest U.S. retailer had robust quarterly results and an upbeat outlook, giving insight into how consumers are weathering high interest rates.The New York Times - Business -
Stock market looks strong enough to stay in this higher orbit
Momentum has taken over the moment.MarketWatch - Business -
GameStop shares fall 20% after it files to sell additional stock, says first quarter sales dropped
GameStop said it plans to sell securities and reported preliminary results that showed a drop in first-quarter sales.CNBC - Business -
Why Utilities Are Lighting Up the Stock Market
Utility stocks are suddenly white hot, thanks largely to artificial intelligence’s thirst for electricity. Investors accustomed to thinking of the sector as sleepy and safe need to realize the game has changed.The Wall Street Journal - World -
Trex, a maker of weatherproof decking, will invest $450 million to boost capacity and give the company a firm footing in the South, bucking forecasts for a decline in home-improvement spending.
Trex, a maker of weatherproof decking, will invest $450 million to boost capacity and give the company a firm footing in the South, bucking forecasts for a decline in home-improvement spending.The Wall Street Journal - World -
GameStop’s stock slides premarket after company issues profit warning, files to issue more shares
GameStop Corp.’s stock fell 19% early Friday, after the videogame retailer and key meme stock issued a profit and sales warning for the first quarter and filed to sell new shares.MarketWatch - Business -
UL Solutions tops revenue estimates in first quarter as a public company
Profit was flat in the first quarter, but the company is expecting to benefit from the “electrification of everything” trend.MarketWatch - Business -
GameStop to sell up to 45mn new shares after latest ‘meme stock’ rally
Video games store operator announces preliminary results showing expectations of further drop in net salesFinancial Times - Business -
Cathie Wood’s ETFs have been buying up stock in this online-gaming company
Roblox’s stock has tumbled in the wake of the company’s disappointing quarterly earnings report, but Cathie Wood’s ARK Invest seems to believe that makes them much more attractive.MarketWatch - Business -
EasyJet expects summer demand to lift earnings after a narrowed first-half loss, but the airline's outlook for the end of the year weighed on its shares.
EasyJet expects summer demand to lift earnings after a narrowed first-half loss, but the airline’s outlook for the end of the year weighed on its shares.The Wall Street Journal - World
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U.S. Tariffs Close Off the Easiest Route to Affordable EVs
A new 25% tariff on Chinese EV batteries and parts could hit Tesla and Ford’s cheapest electric vehicles.The Wall Street Journal - World -
Overseas Shipholding to Be Acquired by Saltchuk in $950 Million Deal
The deal has been unanimously approved by the boards of both companies and is expected to close in the next few months.The Wall Street Journal - World -
Why Lenny Kravitz Works Out in Leather Pants
The musician talks about growing his own food, getting a star on the Hollywood Walk of Fame and making his new album, “Blue Electric Light.”The Wall Street Journal - World -
A Global Tax on Billionaires? Janet Yellen Says 'No'
The Treasury secretary came out against the proposed global levy, which proponents say would stop the rich from shifting wealth into countries where they can avoid paying the tax.The Wall Street Journal - World -
ICC Prosecutor Seeks Arrest Warrants for Netanyahu, Hamas Leader Sinwar
The International Criminal Court’s prosecutor said there were grounds to believe the men bore responsibility for war crimes and crimes against humanity.The Wall Street Journal - World