Markets
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Qualcomm stock sinks as weak smartphone demand pushes inventory drawdown out to ‘at least the next couple quarters’
Qualcomm Inc. shares fell in the extended session Wednesday after the chip maker said inventory issues will remain past June because of a downturn in handset demand and the company’s outlook disappointed. After declining 2.8% to close the regular session $112.83, Qualcomm QCOM, -2.82% shares started sliding after the release of the company’s results at…
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‘Deposits are going to keep drifting out,’ says DoubleLine’s Gundlach, warning of echoes of S&L crisis at banks
“I’m really turning more bearish,” Jeffrey Gundlach, CEO of DoubleLine, told CNBC on Wednesday, after the Federal Reserve raised rates by another 25 basis points to the highest level since 2007. “It just seems to me that deposits are going to keep drifting out,” Gundlach told the business network. “I don’t think this is the…
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NET Stock Price | Cloudflare Inc. Cl A Stock Quote (U.S.: NYSE)
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‘Generous but expensive’: The costs of helping banks alleviate deposit stress don’t come cheap
The costs of powerful backstops for banks are in the spotlight after First Republic Bank’s failure and sale to JPMorgan Chase pushed the tally of recent assets seized by regulators from three banks above the 2008 crisis peak. The Federal Reserve created a new Bank Term Funding Program in early March, with the aim of…
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Bed Bath and Beyond takes aim at ocean carriers, seeks millions in freight dispute
Bed Bath and Beyond Inc., which filed for chapter 11 bankruptcy last month, has filed complaints against two ocean carriers, claiming that they abandoned their service commitments to the troubled home goods retailer. The Wall Street Journal first reported Tuesday that Bed Bath and Beyond filed a complaint with the Federal Maritime Commission alleging that…
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PacWest stock plummets more than 50% after report of potential sale; other bank stocks fall too
PacWest Bancorp PACW shares tumbled more than 50% in after-hours trading Wednesday, taking other bank stocks with it after a report that the company’s executives were weighing a possible sale. The report, from Bloomberg News, adds to the concerns over the financial stability of regional banks, following the collapse in March of Silicon Valley Bank…
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Mullen Automotive shares plunge on reverse stock split announcement
Mullen Automotive Inc. will conduct a 1-for-25 reverse stock split as the electric-vehicle company looks to maintain its Nasdaq listing. The company’s stock, which has been attracting meme-like attention, ended Wednesday’s session down 21.1%. The stock will continue to trade on the Nasdaq Capital Market under the existing symbol “MULN” and… Source
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SAIA Stock Price | Saia Inc. Stock Quote (U.S.: Nasdaq)
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Crash Course (Education) – Raging Bull
Here’s a quick crash course. Even if you’re buying calls or puts, how many ways do you have to prevail? That’s right, in both cases, you have ONE. That’s ONE, singular way to win. Buy AAPL calls… it better go up. Buy AAPL puts… it better go down. Now, I’m trading + teaching based on…
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Why stock-market bulls can’t celebrate as Fed hints at pause in rate hikes
Stock-market traders were in no mood for subtlety Wednesday. The Federal Reserve and its leader, Chair Jerome Powell, left the door open to a halt in rate increases after delivering, as expected, a 10th straight hike that lifted the fed-funds rate to a range of 5% to 5.25%, its highest since 2007. To be sure,…