A Nordstrom store in Irvine, California Scott Mlyn | CNBC Check out the companies making headlines after the bell: Shares of Nordstrom surged 11% in extended trading after the retailer posted a strong profit despite weakening second-quarter sales. The company reported adjusted earnings per share of 90 cents on revenue of $3.87 billion. Analysts had expected
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Federal Reserve officials who voted to lower interest rates three weeks ago agreed that the move shouldn’t be viewed as an indication that there is a “pre-set course” for future cuts, according to meeting minutes released Wednesday. The summary indicated that policymakers viewed the move as a “mid-cycle adjustment,” an expression Chairman Jerome Powell used
Check out the companies making headlines before the bell: Target – The retailer posted adjusted quarterly profit of $1.82 per share, 20 cents a share above estimates. Revenue also exceeded forecasts. Comparable-store sales were up 3.4%, above the 2.9% estimate of analysts surveyed by Refinitiv. Target also raised its full-year earnings outlook. Lowe’s – The
London’s Old Street roundabout, often dubbed “Silicon Roundabout.” Chris Ratcliffe | Bloomberg | Getty Images British technology start-ups have attracted more foreign investment since the start of the year than they did throughout all of 2018, according to fresh figures published Wednesday. U.S. and Asian venture capital investors poured $3.7 billion into U.K. tech companies
Traders work the floor of the Dow Jones at the closing bell of the New York Stock Exchange. Bryan R. Smith | AFP | Getty Images Check out the companies making headlines midday: Home Depot — Shares of Home Depot rose more than 4% on Tuesday after the company reported higher earnings per share than
Marvel Spider-Man signage is seen at the Sony Corp. PlayStation booth during the E3 Electronic Entertainment Expo in Los Angeles, California, U.S., on Tuesday, June 12, 2018. Troy Harvey | Bloomberg | Getty Images Sony’s gaming division announced late Monday that it will buy U.S. video game developer Insomniac Games. The acquisition follows a more
Stocks are bouncing higher but could be trapped in a range until there’s a resolution of the trade wars and an end to the uncertain shadow it is casting over business confidence and the economy. The S&P 500, up 1.2% at 2,923 Monday, is now 3.5% off its July 26 highs, as the market reacts
Michael Moritz Scott Mlyn | CNBC Michael Moritz, the Sequoia Capital venture capitalist who made fortunes from early bets on Google and Yahoo, says investment bankers in tech IPOs are like ticket scalpers, and more companies are realizing that they no longer need them. The direct listings pulled off by Spotify last year and Slack
White House National Trade Council Director Peter Navarro Getty Images White House trade advisor Peter Navarro disputed that the bond market flashed a recession signal last week, which spooked investors and sent the stock market tumbling. The yield on the benchmark 10-year Treasury note briefly fell below the 2-year rate on Wednesday, a phenomenon in
New charts from Bank of America-Merrill Lynch’s Stephen Suttmeier suggest two things must happen before the stock market bottoms: The S&P 500 needs to fall another 5% and panic needs to get more extreme. His first chart shows the S&P 500‘s decline, and the key levels to watch. “The correction is going to continue,” the