As aspiring homeowners contend with high mortgage rates, rising home prices, and a low number of homes for sale, the construction of single-family homes built deliberately to be rented is forging full steam ahead as investors bet on rentals. The number of newly built single-family homes being sold to investors…
Union dockworkers at West Coast ports on Friday were accused by their employers of engaging in “concerted and disruptive work actions,” moves that threatened operations at some of the nation’s largest import hubs. The dockworkers’ union, the International Longshore & Warehouse Union, “is staging concerted and disruptive work actions that…
President Joe Biden on Friday hailed passage of a bipartisan deal to raise the U.S. debt limit and avoid a government default, addressing the nation from the Oval Office. “No one got everything they wanted, but the American people got what they needed,” the president said. “We averted an economic…
Shares of Palo Alto Networks Inc. rallied in the extended session Friday after S&P Dow Jones said it would include the cybersecurity platform company’s stock in the S&P 500 index. Palo Alto Networks PANW, +0.21% shares surged as much as 5% in after-hours trading, following the announcement that Palo Alto…
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Lululemon Athletica Inc. shares jumped after hours on Thursday after the yoga-wear maker and retailer forecast full-year sales and profit that were above expectations, after strong gains in China’s reopened economy helped propel first-quarter results. The company said it expected full-year sales of $9.44 billion to $9.51 billion, above FactSet estimates for…
Zscaler Inc. shares declined in the extended session Thursday after the cybersecurity company’s results and forecast topped Wall Street expectations amid a tough cloud-software environment. Zscaler shares ZS, +5.40% slipped about 1% after hours, following a 0.3% decline in the regular session to close at $135.09. The company forecast adjusted earnings…
Dell Technologies Inc.’s revenue plunged in the fiscal first quarter by the largest percentage on record for the company, and executives expect a similar drop in the current quarter. On Thursday, Dell DELL, +3.98% reported first-quarter earnings of $578 million, or 79 cents a share, on sales of $20.9 billion,…
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Headline inflation may have come down over the past year, but consumers’ expectations about future inflation have not. In fact, five-year expected inflation has been inching up rather than down in recent months, according to the University of Michigan consumer survey. The median expectation is that inflation will run at…