Text size Moderna is developing two Covid-19 vaccines for the fall. Joseph Prezioso/AFP via Getty Images Modern will report its earnings this week amid an unusually strong stretch for the stock. Shares are up 35% since the market closed on June 14, a period in which the S&P 500 has climbed 10.6%. Yet as of … Read more
Updated Aug. 2, 2022 6:21 pm ET List two articles (2 minutes) Robinhood Markets is slashing about 23% of its full-time staff as the flashy online brokerage continues to reel from a sharp slowdown in customer trading activity. The job cuts mark the second round of layoffs this year at Robinhood, which in April reduced … Read more
China’s major economic pillars wobbled in July with weakness in manufacturing and the all-important property sector, showing the pressure on a country that remains a drag on the struggling global economy. Chinese manufacturing activity unexpectedly contracted in July, as Beijing’s stringent Covid-19 restrictions and weak demand undercut hopes for a more robust economic revival.
July 30, 2022 10:00 am ET List two articles (2 minutes) CVS Health Starbucks spirit Uber Technologies are among the companies headlining another busy earnings week as investors look for signs of a recession after a second quarter of contraction in the US economy. Also expected to report earnings are Uber ride-hailing rival Lyft Modern … Read more
By Kyle Morris The UK’s advertising market grew faster than previously anticipated in the first quarter and spending for 2022 as a whole is now expected to set a new high of 35.4 billion pounds ($42.64 billion), according to the latest Advertising Association/WARC expenditure report released Thursday. AA/WARC figures show UK ad spend rose 28.3% … Read more
Updated July 26, 2022 10:38 pm ET List two articles (1 minute) Consumers are still filling up on soda even if they have to pay more. Coca-Cola on Tuesday reported strong second-quarter sales and raised its revenue outlook for the year as people return to theme parks, movie theaters and travel destinations despite price increases.
By Kyle Morris Intelligent Ultrasound Group PLC said Thursday that first-half revenue is expected to rise by more than 60%, but that its reseller network was hit by the closing of the Chinese market due to Covid-19. The ultrasound-software company said revenue for the period to June 30 is expected to be 5.9 million pounds … Read more
Until recently, good news (a solid rebound from the COVID-19 pandemic) was bad news (higher interest rates). Now, bad news (an economic slowdown) is good news (accommodative policies). For investors, previously successful investment strategies carry risks. Economic activity, based largely on government stimulus, low borrowing rates, central bank cash infusions and pent-up demand funded by … Read more
SINGAPORE — China recorded its weakest growth rate in more than two years, a measure of the costs imposed on the world’s second-largest economy by Beijing’s zero-tolerance approach to Covid-19. Gross domestic product expanded at a 0.4% annual rate in the April to June period, China’s National Bureau of Statistics said Friday. That was the … Read more
Those looking for a bit of good news to start the week may have to cast the net further out. Stocks are tilting lower as COVID-19 cases flare up in China, threatening more lockdowns. And the plate was already full for investors this week, with inflation one of several data points to watch, and banks … Read more