Author: boursewatch

Rue21, a popular teen-apparel retailer found in malls across America, has recently filed for chapter 11 bankruptcy protection and will be closing down all of its stores. Rue21 recently announced its plans to close all of its approximately 540 stores within the next two months. As part of this process, the company will be holding going-out-of-business sales. In addition, the company plans to sell its intellectual property. The filing attributed the difficulties to the impact of the COVID-19 pandemic and unfavourable market trends, such as the increasing popularity of online shopping and rising inflation. Additionally, the company faced challenges in…

A week following the release of Starbucks Corp.’s dismal quarterly results and bleak annual outlook, the company’s former CEO declared that the coffee chain must take responsibility for its errors and put in more effort to provide customers with an improved experience. The three-time CEO of Starbucks, Howard Schultz, stated in a LinkedIn post on Sunday that the company needs “maniacal focus” to enhance its operations. He wrote, “The company’s fall from grace is primarily due to its U.S. operations, so the fix needs to start at home.” “The stores need to have an obsessive concentration on the consumer experience…

According to Berkshire Hathaway’s most recent financial reports, the company ended the first quarter with approximately $200 billion in cash, or $189 billion, to be exact. That comes after Warren Buffett and company reduced their ownership of massive companies like Apple and Chevron. This past weekend, Buffett declared, “We only swing at pitches we like.” Elon Musk, who of course runs Tesla TSLA, +0.66%, has an idea about how to use some of that cash from Berkshire Hathaway BRK.B, +0.07%. “He ought to invest in Tesla. It’s a clear move, Musk stated in a statement posted on his owned social…

After the most recent round of talks with the firefighters’ union failed to produce a wage agreement, Boeing locked out its private force of firefighters who guard its aircraft manufacturing facilities in the Seattle area and brought in replacements. The company announced on Saturday that it had locked out roughly 125 firefighters and a facility located in central Washington, some 170 miles (275 kilometers) away. The firefighters can request assistance from nearby fire departments and act as first responders in the event of a fire or medical emergency. Boeing BA, +0.53% said in a statement, “We did not reach an…

According to a Jefferies analyst, the Nasdaq stock exchange is “warming up” to the idea of listing Canadian cannabis companies even if they have exposure to the U.S. market. A U.S. cannabis company may be the next. The Nasdaq, which has permitted Canadian cannabis companies Canopy Growth Corp. CGC, -0.97% and SNDL Inc. SNDL, +3.52% to continue trading after both companies acquired U.S. assets, may permit U.S.-based cannabis company Curaleaf Holdings CURA, -0.39%, which presently trades on the Toronto Stock Exchange, to list on its exchange, according to speculation made by Jefferies analyst Owen Bennett on Friday. Bennett reported that…

When the U.S. Justice Department announced its antitrust case against Apple five weeks ago, it went all out. Attorney General Merrick Garland led a lavish press conference, and the case was openly compared to the historic Microsoft lawsuit from thirty years ago, which almost resulted in the company’s forced dissolution. The news was met with a shrug by investors; since the DOJ press conference, shares of Apple Inc. AAPL, +5.98% have increased by 1%, while the S&P 500 index SPX has declined by 3.8%, according to FactSet. The “Magnificent Seven” stock has dropped roughly 7% from its record close in…

When businesses are getting closer to releasing their quarterly results, Wall Street analysts usually reduce their financial expectations. Naturally, this lowers the bar that businesses must meet, and most businesses frequently meet it. However, a month into the second quarter of this year, they’re acting a little strangely. Their cautious optimism regarding the profitability of corporate America is growing. According to a FactSet report on Friday, analysts who track S&P 500 companies raised their Q2 per-share profit estimates through last month, albeit only by 0.7%. Since the fourth quarter of 2021, Wall Street has not raised its per-share profit estimates…

Boeing Co.’s Starliner spacecraft is set to make its first crewed flight to the International Space Station on Monday, carrying two NASA astronauts to the orbiting space lab. The first crewed Starliner mission has faced a number of delays in recent years, so Monday’s launch will mark an important milestone for NASA, Boeing BA, +0.53% and their partners. Starliner will carry NASA astronauts Butch Wilmore and Suni Williams when it launches atop a United Launch Alliance Atlas V rocket late Monday. The launch is planned for 10:34 p.m. Eastern time from Cape Canaveral Space Force Station’s Space Launch Complex-41. “Everything…

ATLANTA — At his Florida resort this past weekend, Donald Trump informed Republican donors that Joe Biden is leading a “Gestapo administration.” This is just the most recent instance of the former president using terminology from Nazi Germany in his campaign. Those who attended the event and spoke about the private session on condition of anonymity described what was said on Saturday at Mar-a-Lago. One person claimed that Trump made the “Gestapo” remark in response to Biden’s White House being implicated in several criminal prosecutions of the presumed GOP nominee, including his ongoing trial for fraud and hush money in…

Signs of consumer stress are beginning to surface as uncertainty grows over when the Federal Reserve will cut interest rates from a 23-year high. If these signs persist, the stock market may be in trouble. Beginning as early as March, investors anticipated six quarter percentage point rate cuts in 2024. Rather, investors sharply reduced their expectations, factoring in only two to three cuts starting in the fall due to sticky inflation readings, a tight labor market, and other data. Although there was a dip in stock prices in April, investors mostly accepted the change, with stocks supported by expectations that…