Brian Moynihan, CEO of Bank of America Jason Alden/Bloomberg Text size Bank of America has emerged as one of the nation’s most resilient banks, thanks to CEO Brian Moynihan’s “responsible growth” stra...
Tag: industrial news
Large Retailers Are Getting Hit Hardest by Overstocking
Big retailers are struggling to cope with large stockpiles of furniture, apparel and workout equipment, yet broad measures show inventories at American companies remain exceedingly lean by historical ...
Energy Stocks Are Cheap. Just Ask Warren Buffett.
Energy stocks are on sale, after a sharp selloff since oil and natural-gas prices peaked in early June. Oil is down 18% from its high, to $102 a barrel, while gas has fallen by a third, to about $6 pe...
Your retirement portfolio is fundamentally flawed: GMO
All across America, retirees and near-retirees are reeling. They were assured by simplistic “McMoney” financial advisers that bonds were “safe,” that bond returns were steady and predictable, and that...
PayPal stock slips after downgrade: ‘Hard to ignore e-commerce woes’
PayPal Holdings Inc. PYPL shares have a “supportive” valuation after a recent slide, but the company may still face challenges stemming from pressure on the e-commerce industry, according to an analys...
Kohl’s Stock Lands in the Damaged Bin
Text size A Kohl’s department store in Lexington, Ky. Luke Sharrett/Bloomberg Wall Street has lost faith in Kohl’s , given problems facing nearly all retailers and a potential deal that was scru...
The IRS audited ex-FBI director James Comey and former deputy Andrew McCabe. What are the odds?
In recent years, the Internal Revenue Service has been processing around 150 million to over 160 million tax returns annually, doing the work with a shrinking staff and an inflation-adjusted budget th...
Vanguard to Pay Massachusetts Investors Millions Over Target-Date Fund Tax Hit
Vanguard will pay $6.25 million as part of settlement with Massachusetts’ state securities regulator over allegations that changes it made to certain target-date funds stuck investors with unexpectedl...
Want to Hide Out in Tech? Buy IBM Stock, Morgan Stanley Says.
Text size IBM stock has outperformed the broader market this year. Andreas Arnold/Bloomberg One of the best-performing tech stocks in 2022 has been IBM , as the company continues to show progress on a...
Buffett Bought More of Occidental. Here’s What Happened With HP, Citi, Coke.
Text size Warren Buffett has losses as well as wins on his record of stock picking. AFP via Getty Images Billionaire investor Warren Buffett disclosed that he has increased his stake in Occidental Pet...
Berkshire Holds Over 18% of Occidental After Fresh Buys
Text size Berkshire CEO Warren Buffett likes Occidental and has been adding to the company’s stake since the holding was disclosed in early March. Paul Morigi/Getty Images for Fortune/Time Inc Berkshi...
Costco sees 20% bump in sales for June
Costco Wholesale Corp. saw a 20.4% bump in its June sales, the retailer reported Thursday. The company announced that it had $22.78 billion in net sales for the retail month of June, which spanned the...
Tesla Stock Today: Elon Musk’s Twins, EV Charging and What Else to Know
Text size It was revealed that Tesla CEO Elon Musk had twins last year with one of his top executives. Getty Images Shares of electric vehicle maker Tesla rose 1% in premarket trading Thursday. Here’s...
Netflix Q2 Subscriber Losses Could Be Worse Than Forecast, Analyst Warns
Text size The Netflix logo on top of its office building in Hollywood. Chris Delmas/AFP via Getty Images It’s now been almost three months since Netflix shocked investors with a very ugly first-quarte...
Merck Is Now in Advanced Talks to Buy Cancer Biotech Seagen for $40 Billion
Text size New Jersey-based Merck has a market value of more than $234 billion. Michael Vi/Dreamstime Merck & Co is in advanced talks to buy Seagen in a deal that could value the cancer biotech at...
Merck Is in Advanced Talks to Buy Seagen for Roughly $40 Billion or More
Merck & Co. is in advanced talks to acquire Seagen and is aiming to agree on a purchase of the cancer biotech in the next few weeks, according to people familiar with the matter, in a deal that co...
These 10 stocks from a sector that is a bear-market bulwark have upside potential of up to 30%
During times of uncertainty, it can help to look at what happened during other down cycles for stocks. True, we don’t know when the stock market will hit bottom during this cycle, or if it already has...