Consumer Price Index


WSJ Opinion: The Economy Revives, but So Does Inflation

  • WSJ Opinion: The Economy Revives, but So Does Inflation WSJ Opinion: The Economy Revives, but So Does Inflation 6:44
    The Rising Cost of Food The Rising Cost of Food 11:14
    Stimulus Checks Alone May Not Spur Inflation. Here's What Could. Stimulus Checks Alone May Not Spur Inflation. Here's What Could. 6:51
    How Public Universities Became So Expensive How Public Universities Became So Expensive 7:46
5:19 a.m. May 17, 2021 - By Quentin Fottrell
Americans are finally getting ready to splurge — here’s what they’re buying Exhaling after more than a year of pandemic-related restrictions, consumer confidence is on the riseExhaling after more than a year of pandemic-related restrictions, consumer confidence is on the rise.
4:44 a.m. May 10, 2021 -
The Rising Cost of FoodAs inflation fears grow, Jordan Gaspar, president of AF Ventures, discusses the potential impact on small businesses. Plus, BlackRock's Michael Fredericks makes the bull case for stocks and investor Patrick O'Shaughnessy offers guidance when it comes to higher taxes.
7:09 a.m. April 30, 2021 - By Tomi Kilgore
Colgate-Palmolive sales beat supported by price increases of double the inflation rateShares of Colgate-Palmolive Co. surged 1.6% in morning trading Friday, on the heels of the oral, personal and home care company's , in which profit and sales beat expectations. Total sales rose 6.0%, while the cost of sales grew 4.6%. On the post-earnings conference call with analysts, Chief Executive Noel Wallace said the company was "battling the cost inflation across the board," according to a FactSet transcript, and he didn't expect those headwinds to abate any time soon. He said pricing was an important element of growth, as is cost management. Overall pricing increased 4.5%, including a rise of 5.5% in North America. In comparison, the rose 0.5% in March, which pushed headline inflation up 2.3% over the past year. The stock has lost 5.2% year to date, while the SPDR Consumer Staples Select Sector ETF has edged up 3.0% and the S&P 500 has gained 11.4%.
4:30 a.m. April 26, 2021 - By Tomi Kilgore
Casper Sleep's stock surges after Wedbush analyst turns bullish for the first timeShares of Casper Sleep Inc. sprang 9.0% higher in premarket trading Monday, after the Wedbush analyst Seth Basham turned bullish for the first time on the mattress-in-a-box company, citing "attractive" valuation and a clear and balanced path forward between revenue growth and profitability. Basham raised his rating to outperform, after being at neutral since he started covering Casper in February 2020, after the stock went public earlier that month. He lifted his stock price target to $10.50 from $10.00. "[Casper Sleep] is in the early stages of capturing market share with its comprehensive focus on sleep and wellness, and its strong brand recognition and broadening product lines and distribution partners gives it the ability to convert more shoppers to customers," Basham wrote in a note to clients. Of the nine analysts surveyed by FactSet, 6 now have the equivalent of buy ratings, one is at sell and two are at hold. The stock had tumbled 33.7% since closing at a one-year high of $10.62 on Feb. 17 through Friday, but was still up 14.5% year to date, while the S&P 500 has gained 11.3% this year.
8:10 a.m. April 23, 2021 - By Tomi Kilgore
Latham stock opens to investor cheers, valuing home swimming pool company at nearly $3 billionInvestors cheered Latham Group Inc.'s Wall Street debut, as in-ground residential swimming pool company's stock opened 30% above its initial public offering price. The good reception may have come as a surprise to some, as , which was at the bottom of the expected range of between $19 and $21 a share. The first trade was at $24.70 at 11:53 a.m. Eastern for 1.9 million shares, which valued Latham at about $2.97 billion. The company sold 20 million shares in the IPO to raise $380 million. The stock has pared some gains since the open, as it recently traded up at 28.7% at $24.40. The company went public on a day that the Renaissance IPO ETF rose 1.8% and the S&P 500 gained 1.0%.
6:07 a.m. April 22, 2021 - By Jacob Passy
Existing-home sales fall for second consecutive month as house prices surge to record levelsExisting-home sales declined in March, reflecting the challenges buyers continue to face in the competitive real-estate market. Existing home-sales fell 3.7% to a seasonally-adjusted, annual rate of 6.01 million in March, the National Association of Realtors . Compared with a year ago, home sales were up more than 12%. Home prices hit a high of $329,100, reflecting a record pace of price growth at 17.2% from last year.
10:58 a.m. April 21, 2021 - By Tomi Kilgore
AutoZone pulls back from record after BofA analyst turns bearish, citing lack of DIFM exposureShares of AutoZone Inc. fell 1.2% in afternoon trading Wednesday, to pull back from the previous session's record close, after BofA Securities analyst Elizabeth Suzuki turned bearish, saying it's "time to hit the brakes" on the auto parts seller. Suzuki cut her rating to underperform from neutral, while maintaining her $1,390 stock price target, which is 7.1% below current levels. "Auto parts retail spending has been tracking above expectations as discussed in our recent report, but we believe that this is now more than priced in to [AutoZone] shares," Suzuki wrote in a note to clients. The stock, which closed Tuesday at a record $1,514.11, has rallied 26.2% year to date, while the SPDR Consumer Discretionary Select Sector ETF , of which AutoZone is a component, has gained 10.2% and the S&P 500 has advanced 10.8%. Suzuki added that AutoZone's customer mix is comprised of about 80% do-it-yourselfers (DIYers) and 20% do-it-for-me (DIFM) shops, "which also means that [AutoZone] has the lowest relative exposure to the now-recovering professional repair channel."
4:32 a.m. April 15, 2021 - By Tonya Garcia
American Eagle Outfitters shares jump as Q1 revenue approaches $1 billionAmerican Eagle Outfitters Inc. stock rose nearly 5% in Thursday premarket trading after the retailer's first-quarter business update showed revenue that is "on track" to exceed $1 billion. "Demand has accelerated across the American Eagle and Aerie brands, generating strong margins, higher full-priced selling and reduced promotions," the company said. The FactSet sales consensus is for $974 million. American Eagle is scheduled to report first-quarter earnings on May 1. BMO Capital Markets expects the momentum to continue into the second quarter. "[T]ighter industrywide inventory, coupled with stronger consumer demand, bolstered by stimulus is presenting a trifecta yielding a surge in spending power at a time when demand is already outstripping supply," analysts wrote in a note. BMO rates American Eagle market perform with a $36 price target, up from $26. American Eagle stock has rallied 64.3% for the year to date while the S&P 500 index has gained 9.8% for the period.
3:30 a.m. April 12, 2021 - By Tomi Kilgore
Aphria stock falls after wider-than-expected loss, revenue misses as COVID-19 reduced demandThe U.S.-listed shares of Aphria Inc. dropped 7.6% in premarket trading Monday, after the Canada-based cannabis company reported a wider-than-expected fiscal third-quarter loss and revenue that rose less than forecast, citing reduced demand resulting from the COVID-19 pandemic. For the quarter ending Feb. 28, the company swung to a net loss of C$366.8 million ($292.7 million), or C$1.14 a share, from net income of C$5.0 million, or C$0.02 a share, in the year ago period. Excluding nonrecurring items, such as unrealized losses and gains on convertible debt, adjusted losses per share widened to 15 cents from 4 cents, compared with the FactSet consensus for a per-share loss of 5 cents. Revenue rose 6.4% to $C153.6 million ($122.6 million), but missed the FactSet consensus of C$161.3 million. "As a result of the ongoing effects of COVID-19, including provincial lockdowns and provincial boards taking measures to lower their inventory levels which had previously included forecasted cannabis market growth, the company experienced what it believes is a transitory reduction in demand during the quarter," the company said in a statement. The average retail selling price of adult-use cannabis fell to 11% to C$3.82 per gram, while the average retail selling price of medical cannabis slipped 3.9T to C$6.69 per gram. "We remain excited with the opportunities created for both Aphria shareholders and Tilray stockholders in completing our , and believe that together, we will create one of the strongest global cannabis and consumer packaged goods companies in the world," Chief Executive Irwin Simon said. Aphria's stock has soared 135.3% year to date through Friday, while the Cannabis ETF has rallied 57.4% and the S&P 500 has gained 9.9%.
8:19 a.m. April 5, 2021 - By Tomi Kilgore
Lamb Weston stock rallies after BofA analyst said it's time to buy, ahead of earnings reportShares of Lamb Weston Holdings Inc. hiked up 2.4% in midday trading Monday, after BofA Securities analyst Bryan Spillane recommended investors buy ahead of earnings, as the frozen potato products seller is set to approach pre-COVID levels amid pent-up consumer demand for eating out. Spillane raised his rating to buy from neutral, while lifting his stock price target to $100 from $84. His target now tops the list of highest targets of the 8 analysts surveyed by FactSet. "Overall restaurant demand is improving and we are seeing positive signals across quick serve restaurants (QSR) and foodservice operators that could drive margin-accretive revenue growth for [Lamb Weston] heading into FY22," Spillane wrote in a note to clients. He said food distributors are adding staff in anticipation of a strong rebound in foodservice sales, which are set to accelerate at demand improves. The company is expected to report fiscal third-quarter results before Wednesday's opening bell. In fiscal second quarter ended Nov. 29, foodservice sales fell 21% from a year ago while total sales fell 12%. The stock has edged up 1.5% year to date, while the S&P 500 has gained 8.6%.
6:15 a.m. April 5, 2021 - By Tomi Kilgore
Leaf stock soars after Graham Holdings buyout bid at a 21% premiumShares of Leaf Group Ltd. soared 21.6% in active morning trading Monday, after the consumer internet company announced an agreement to be bought by education and media services company Graham Holdings Co. in a deal that valued Leaf about $304.3 million. Trading volume swelled to 4.7 million shares, compared with the full-day average of about 1.1 million shares. Under terms of the buyout deal, Graham will $8.50 for each Leaf share outstanding, which represents a 20.9% premium over Thursday's closing price of $7.03. Leaf said it had received Graham's buyout bid on Feb. 9, after which Leaf contacted 10 potential buyers about their interest in Leaf. The company said none of the potential buyers submitted a competing offer. "After thoroughly reviewing the strategic alternatives available to Leaf Group, the Board of Directors concluded that this all-cash premium transaction with Graham Holdings achieved the Board's long-term objective of fully recognizing the value of the business and delivers immediate and substantial cash value to our shareholders," said Deborah Benton, chair of Leaf's board of directors. The stock has run up 83.9% year to date, while the S&P 500 has gained 8.2%.
2:29 p.m. March 29, 2021 - By Quentin Fottrell
Millions of Americans live paycheck to paycheck Roughly half of Americans say they have saved less than $500 in the past 3 monthsRoughly half of Americans say they have saved less than $500 in the past 3 months.
8:58 a.m. March 18, 2021 - By Tonya Garcia
Clorox sales decline sharply year-over-year after COVID-19 spike Clorox Co. was downgraded to neutral from buy at D.A. Davidson after IRI data shows a 10.8% point-of-sale decline in the four weeks leading up to March 7. Analysts led by Linda Bolton Weiser attribute the decrease to the "start of hard COVID-driven prior-year comps, which get even more difficult next month (+75%)." D.A. Davidson cut its price target to $189 from $234. "Most noteworthy were the double-digit declines in Clorox's three biggest Health & Wellness categories: (1) cleaners were -24.3% year-over-year vs. +8.5% in February; (2) bleach was -17.8% vs. +17.9% in February; and (3) wipes were -54.3% vs. +27.8% in February, with the category decelerating to -34.9% from +67.0% in February," the note said. Clorox shares sank 4.1% after the downgrade, and are down 4.8% for the last year. The benchmark S&P 500 index is up nearly 65% over the past 12 months.
11:15 a.m. March 12, 2021 - By Mark Hulbert
The threat retirees face from higher inflation Inflation expectations have risen over the last couple of monthsInflation expectations have risen over the last couple of months
8:18 a.m. March 4, 2021 - By Tomi Kilgore
Bumble stock jumps after first analyst starts coverage, with a 'positive' ratingShares of Bumble Inc. surged 2.6% in midday trading Thursday, a day after closing at the lowest price since going public, as received its first endorsement from a Wall Street analyst. Susquehanna's Shyam Patil became the first to initiate coverage of Bumble, has he started with a positive rating and stock price target of $78, which is about 24% above current levels, saying the company has a "solid niche" in the large and growing online dating market. "Although Tinder is the clear leader, Bumble does appear to be differentiated in that it is female-centric -- only females can send the first message -- which should allow it to be a complement/alternative to market leader Tinder," Patil wrote in a note to clients. Match Group Inc. is the parent of Tinder. "We believe that most users who pay for dating apps pay for multiple services, not just one, so [Bumble] can continue improving monetization and attracting new paying users even if they also pay for Tinder or other dating services." Susquehanna was not listed as one of the underwriters of Bumble's IPO. Since the Feb. 11 close, , the stock has lost 9.5%, but was still 48.0% above the IPO price. Over the same time, Match shares have shed 14.4%, while the Renaissance IPO ETF has dropped 16.2% and the S&P 500 has slipped 2.3%.
11:26 a.m. March 3, 2021 - By Tonya Garcia
Ralph Lauren launches first subscription rental program, The Lauren LookRalph Lauren Corp. announced the launch of The Lauren Look, the luxury label's first subscription rental program, in North America. Starting at $125 per month, a membership will give shoppers access to dresses, pants, tops and more from the Lauren collection. Members have the option to purchase what's sent at a "membership rate" or return unwanted items. "The closet of the future will include a mix of new seasonal fashion, unique customized pieces and wardrobe staples, alongside pre-owned and rented clothing," said Patrice Louvet, chief executive of Ralph Lauren, in a statement. Once items have reached the rental threshold, they'll be donated to a nonprofit organization, Delivering Good, one more way to extend the life cycle of items and reduce clothing waste. "The decision highlights Ralph Lauren's willingness to take a calculated risk to transform & adapt to a more dynamic apparel marketplace," wrote Wells Fargo in a note. "Further, the service provides another way to engage with existing consumers while also helping to acquire a new & younger consumer, who are more apt to use an apparel rental service platform." Wells Fargo expects the apparel rental market to grow to $2.08 billion in 2025 from $1.26 billion in 2019. Wells Fargo rates Ralph Lauren shares overweight with a $132 price target. Ralph Lauren stock was up 1.7% in Wednesday trading, and has gained 16.2% over the last year. The S&P 500 index is up 27.8% over the last 12 months.
1:00 p.m. Feb. 23, 2021 - By Andrew Keshner
Billionaire philanthropy is a ‘PR scam’ says CEO who raised workers’ minimum pay to $70,000 and the hidden financial drawback to remote work Tuesday’s Personal Finance Stories Tuesday’s Personal Finance StoriesTuesday’s Personal Finance Stories.
2:55 a.m. Feb. 10, 2021 - By Tomi Kilgore
NIC stock soars toward 21-year high after $2.3 billion buyout deal with Tyler TechnologiesShares of NIC Inc. shot up 15.4% toward a 21-year high in premarket trading Wednesday, after the digital government solutions and payments company agreed to be acquired by Tyler Technologies Inc. in a cash deal valued at $2.3 billion. Tyler's stock slipped 0.7% ahead of the open. Under terms of the deal, NIC shareholders will receive $34 in cash for each NIC share they own, which represents a 14.1% premium to Tuesday's stock closing price of $29.81. The deal is expected to close in the second quarter of 2021. Tyler said it expects to fund the deal with $700 million of cash on its balance sheet and $1.6 billion in new debt. "The pandemic has accelerated the shift by governments to online services and electronic payments as more citizens and businesses are interacting digitally with government," said Tyler Chief Executive Lynn Moore. "NIC is uniquely positioned with its deep expertise and robust digital solutions to partner with us in making government more efficient and more accessible to citizens." NIC shares, which are on track to open at the highest price seen during regular-session hours since March 2000, have rallied 23.7% over the past three months through Tuesday, while Tyler's stock has edged up 2.0% and the S&P 500 has gained 10.3%.
3:52 a.m. Feb. 9, 2021 - By Tomi Kilgore
Ford upgraded to buy at Argus, with a price target that matches the Street highFord Motor Co. has a new bull on Wall Street, as Argus Research analyst Bill Selesky raised his rating Tuesday to buy from hold, citing expectations for stronger consumer spending. Selesky set his stock price target at $14, which matches the highest target of the 18 analysts surveyed by FactSet. "Our upgrade reflects our expectations for stronger consumer spending, helped by a new round of stimulus payments, low borrowing costs and saving rates that have reached all-time highs," Selesky wrote in a note to clients. "We also expect consumer spending to benefit as more coronavirus vaccines are approved and distributed." Of the 18 analysts surveyed by FactSet, there are now five with the equivalent of buy ratings, while 11 analysts are at hold and two are at sell. Selesky's price target is 23.5% above the previous average target of $11.34. His upgrade comes after Ford reported last week and sales that missed expectations, but provided an upbeat first-quarter outlook and said it would double its investments in electric and autonomous vehicles. Ford's stock, which slipped 0.1% in premarket trading, has rallied 41.0% over the past three months through Monday, while shares of rival General Motors Co. have hiked up 46.0% and the S&P 500 has gained 10.3%.
7:10 a.m. Feb. 5, 2021 - By Tomi Kilgore
GameStop stock soars on the day, but suffers a big, first weekly loss since the trading frenzy startedShares of GameStop Corp. soared 31.8% in morning trading Friday, but have , the first since the trading frenzy in the heavily shorted videogame and consumer electronics retailer started about a month ago. The has plunged 78.3% this week, after skyrocketing 1,737.2% over the previous three weeks. The stock has now shed 79.7% since closing at a record $347.51 on Jan. 27. Meanwhile, shares of AMC Entertainment Holdings Inc. , which were also caught up in the apparent short squeeze, bounced 3.1% on Friday after tumbling 21.0% on Thursday. The movie theater chain's stock, which was headed for a 44.9% loss this week after soaring 277.8% the previous week, was now trading 63.3% below the Jan. 27 close of $19.90, which was the highest closing price since October 2018. Over the past three months, GameStop shares have rallied 515.7% and AMC's stock has gained 197.1%, while the S&P 500 has tacked on 10.7%.
2:57 a.m. Jan. 25, 2021 - By Tomi Kilgore
Sonoco Products to raise prices on plastic trays, bowls amid continued cost inflationSonoco Products Co. said Monday it will raise prices on certain consumer packaging components by 8%, citing continued cost inflation. The company said its prepared and specialty foods business segment will raise prices for crystallized polyethylene terephthalate (CPET) and polypropylene (PP) thermoformed plastic trays and bowls by 8%. The new prices will be effective Feb. 22, and will be applied individually, and depending on prod7uct category. "These price adjustments are critical to manage continued increases in cost across our business," said Rolfe Olsen, vice president of the prepared and specialty foods business. "Thus far, we have offset much of these increased input costs via manufacturing productivity initiatives and supply chain optimization activities, but with continued inflation, we must now pass this cost on to our customers." The stock, which is still inactive in premarket trading, has advanced 13.8% over the past three months while the S&P 500 has gained 10.9%.
7:28 a.m. Jan. 23, 2021 - By Andrew Keshner
Financially fragile Americans during COVID-19 have difficulty answering these 15 money questions — can you? A new survey asked who could cover unexpected expenses during the pandemic’s early days.A new survey asked who could cover unexpected expenses during the pandemic’s early days.
10:05 a.m. Jan. 22, 2021 - By Riley Adams
Should you invest in stocks or real estate? Be honest about your risk tolerance and lifestyle preferencesBe honest about your risk tolerance and lifestyle preferences
7:55 a.m. Jan. 14, 2021 - By Tomi Kilgore
Aphria's stock soars after reporting surprise profit, giving a boost to merger partner TilrayThe U.S.-listed shares of Aphria Inc. shot up 17% in midday trading Thursday toward a more-than two-year high, after the Canada-based cannabis company reported a surprise fiscal second-quarter adjusted profit and revenue that rose above forecasts, citing strength in its global cannabis and consumer packaged goods businesses. The net loss for the quarter to Nov. 30 widened to C$122.0 million ($96.3 million), or 42 cents a share, from C$8.2 million, or 3 cents a share, in the year-ago period. Excluding non-recurring items, the company swung to EPS of 1 cent from a loss of 19 cents, beating the FactSet consensus for a per-share loss of 3 cents. Revenue rose 33% to C$160.5 million ($126.6 million), above the FactSet consensus of C$153.9 million. Adult-use cannabis revenue rose 149% to C$72.1 million. The average selling price of adult-use cannabis rose to C$4.29 per gram from C$4.15 per gram in the previous quarter, while the average retail selling price of medical cannabis fell to C$6.96 per gram from C$7.38 per gram. Shares of Tilray Inc. jumped 19.4%, as the company and Aphria . The stock, which which is on track for the highest close since November 2018, has soared 98.6% over the past three months while the ETFMG Alternative Harvest ETF has climbed 72.4% and the S&P 500 has gained 9.4%.
10:21 a.m. Jan. 13, 2021 - By Ciara Linnane
U.S. sees record one-day death toll and experts worry new variant may make activities like plane travel more risky Vaccine program must speed up to avoid reaching 640,000 deaths by spring, equal to lives lost in the 1918 flu pandemicThe U.S. set another grim milestone in the coronavirus pandemic on Tuesday, when more than 4,400 COVID-19 patients died, the most in a single day since the start of the outbreak, and experts said that with cases continuing to accelerate, the worst is still to come.
6:59 a.m. Jan. 13, 2021 - By Tomi Kilgore
Peloton's stock jumps into record territory after BofA Securities analyst gets more bullishShares of Peloton Interactive Inc. ran up 5.4% into record territory in morning trading Wednesday, after BofA Securities analyst Justin Post became more bullish on the fitness-equipment company, citing data suggesting demand continues to outstrip supply. Post reiterated his buy rating on the stock, while raising his price target by 17%, to $175 from $150. Post said his research indicates that visits to Peloton's site in the fiscal second quarter, which ended December, rose 167% from a year ago, a deceleration from 289% growth in the first quarter, "but well above competition." He said Peloton-related posts during the quarter on Facebook Inc.'s Instagram are up 71%a, and are up 92% on Twitter , "suggesting new user engagement remains high." He said while delivery times remain long, data suggests that order backlog should help support "strong" third quarter results. "While valuation is a risk, we remain constructive on the stock ahead of the full U.S. lower-priced tread launch, likely in March (potential catalyst)," Post wrote in a note to clients. The stock, which was trading above its Dec. 23 record close of $162.76, has rallied 25.5% over the past three months while the S&P 500 has gained 8.5%.
4:56 a.m. Jan. 12, 2021 - By Tomi Kilgore
Bank of America stock rallies after analyst says it's time to buyShares of Bank of America Corp. rose 1.1% in premarket trading Tuesday toward an 11-month high, after Citigroup analyst Keith Horowitz turned bullish, citing expectations that the bounce off the third-quarter bottom in net interest income will be bigger than expected. Horowitz raised his rating to buy from neutral and his stock price to $37 from $31; the stock hasn't closed at or above $37 since October 2008. He said he believes BofA is one of the largest beneficiaries of the return of capital to shareholders (stock repurchases and dividends), which should resume next quarter. "[BofA] is also more levered to consumer, which we think will perform better this credit cycle given the stimulus programs," Horowitz wrote. The stock has run up 28.8% over the past three months through Monday, while the SPDR Financial Select Sector ETF has climbed 21.6% and the S&P 500 has gained 7.5%. Horowitz also upgraded PNC Financial Services Group Inc. and Bank of New York Mellon Corp. to buy from neutral.
9:10 a.m. Jan. 11, 2021 - By Tomi Kilgore
ODP's stock soars to more than 3-year high after confirming Staples' buyout bidShares of ODP Corp. shot up 18.9% toward the highest close in more than three years, after the office supplies business services provider confirmed it received an buyout bid from Staples parent USR Parent, which is owned by Sycamore Partners. Earlier Monday, USR said it proposed to buy ODP for $40 a share in cash, which is 8.2% above Friday's closing price of $36.96. USR said it may increase its proposed valuation for "logical strategic divestitures" that ODP may execute to unlock value, such as the sale of its CompuCom business, or if ODP conducts a sale process for its U.S. commercial business unit. ODP responded in a statement Monday: "Consistent with its fiduciary duties, ODP's board of directors is carefully reviewing the proposal in consultation with its financial and legal advisors to determine the course of action that it believes is in the best interests of the Company and its shareholders." ODP's stock, which is on track for the highest close since October 2017, has rocketed 94.1% over the past three months, while the S&P 500 has tacked on 9.8%.
6:33 a.m. Dec. 23, 2020 - By Jacob Passy
New-home sales fall as buyers begin to get cold feet in an expensive market Cooler weather has put a damper on the hot housing marketCooler weather has put a damper on the hot housing market.
8:39 a.m. Dec. 22, 2020 - By Tomi Kilgore
Vista Outdoor's stock shoots up toward a near 4-year high after Cowen analyst said it's time to buyShare of Vista Outdoor Inc. shot up 24.6% in midday trading Tuesday, putting them on track for the highest close since February 2017, after Cowen analyst Gautam Khanna turned bullish on the ammunition and shooting sports accessories maker, saying the current ammo demand upcycle is likely to last. Khanna raised his rating to outperform, after being at market perform for at least the last three years, and raised his price target to $33 from $29. Among the reasons Khanna believes ammo demand will continue, he believes President-elect Joe Biden's stricter gun control ambitions than current President Donald Trump's will provide an ammo/firearm "demand stimulant." Also, the recent ammo demand surge reflects and "an influx of new shooters," rather than just stockpiling by longstanding shooters, and the "cultural 'Armageddon' mentality may linger" given the recent surge in COVID-19 cases and civil unrest fears. The upbeat assessment of ammo demand was giving the shares of firearms makers a boost amid broader stock market weakness, with Smith & Wesson Brands Inc. rallying 2.5% and Sturm Ruger & Co. climbing 2.8%, while the S&P 500 fell 0.2%.
3:43 a.m. Dec. 14, 2020 - By Andrew Keshner
‘There’s always a lot of hype around IPOs’: Read this before buying Airbnb stock Airbnb ended its debut day on the Nasdaq at almost $145 per share, up 113% from its elevated offering priceAirbnb ended the day at almost $145 per share, up 113% in its first day.
10:55 a.m. Dec. 11, 2020 - By Ciara Linnane
U.S. suffers its worst week of cases, deaths and hospitalizations since the start of the pandemic CDC head warns U.S. will see more deaths every day for next few months than died on Sept. 11, 2001, or in the attack on Pearl HarborThe U.S. suffered its worst week for cases, deaths and hospitalizations with the coronavirus illness COVID-19, as the Food and Drug Administration said it would grant emergency use authorization to the vaccine developed by Pfizer Inc. and its Germany partner BioNTech SE.
4:31 a.m. Dec. 5, 2020 - By Ciara Linnane
Aurora leads cannabis sector rally fueled by hopes for reform under President-elect Joe Biden News that Mexico’s senate has approved a cannabis legalization bill offers further boost to battered sectorAurora Cannabis Inc. led a rally in the weed sector Tuesday that was fueled by hopes President-elect Joe Biden, finally cleared to move ahead with his administration’s transition, will push for reforms that will let companies access banks and capital markets.
7:31 a.m. Dec. 3, 2020 - By Tomi Kilgore
Beyond Meat's meatballs will be available in Costco stores nationwideShares of Beyond Meat Inc. rallied 2.2% in midday trading Thursday, after the plant-based meat company said it's Beyond Meatballs will be sold nationwide in select Costco Wholesale Corp. stores this week. The Beyond Meatballs will be available for a suggested retail price of $9.99 for a package of 24 meatballs. The Beyond Meatballs are made from plant-based ingredients, with no GMOs, soy or gluten. Beyond Meat's Beyond Burger had entered Costco stores in late 2019. The stock has soared 87.3% year to date, while the S&P 500 has gained 13.9%.
5:11 a.m. Dec. 3, 2020 - By Tomi Kilgore
Rent-A-Center boosts dividend by nearly 7%, to yield well above the S&P 500Rent-A-Center Inc. said Thursday it was raising its quarterly dividend by 6.9%, to 31 cents a share from 29 cents. The lease-to-own products company's new dividend will be payable Jan. 12 to shareholders of record on Dec. 15. Based on the stock's Wednesday closing price of $34.46, the new annual dividend rate implies a dividend yield of 3.60%, which is well above the implied yield for the S&P 500 of 1.56%. The stock, which was still inactive in premarket trading, has rallied 19.5% year to date, while the S&P 500 has gained 13.6%.
7:29 a.m. Nov. 16, 2020 - By Tomi Kilgore
U.S. Postal Service looks to raise prices on Priority Mail service, after the holidaysThe U.S. Postal Service filed Monday notice with regulators to raise prices on its Priority Mail service by 3.5%, and for its Priority Mail Express service by 1.2%, starting Jan. 24. If approved by the Postal Regulatory Commission, the "new domestic competitive prices" will increase to $8.45 from $8.30 for a small-flat rate box, to $15.50 from $15.05 for a medium flat-rate box and to $21.90 from $21.10 for a large flat-rate box. In additions, prices would rise to $7.95 from $7.75 for regular flat-rate envelopes, to $8.25 from $8.05 for legal flat-rate envelopes and to $8.55 from $8.40 for padded flat-rate envelopes. "Although Mailing Services price increases are based on the consumer price index, Shipping Services prices are primarily adjusted according to market conditions," the USPS said in a statement. "The Governors believe these new rates will keep the Postal Service competitive while providing the agency with needed revenue." The USPS noted that "unlike some other shippers," the Postal Service does not add surcharges for fuel, residential delivery or regular Saturday delivery.
9:11 a.m. Nov. 12, 2020 - By Paul Brandus
Biden’s plan to boost Social Security and Medicare already looks wobbly Democrats were counting on a stronger hand in CongressDemocrats were counting on a stronger hand in Congress
9:41 a.m. Nov. 9, 2020 - By Mark Hulbert
This is what your Social Security check will look like next year — and why Straight talk about COLAStraight talk about COLA
10:48 a.m. Nov. 7, 2020 - By Andrew Keshner
Can I still buy a home if I have nearly $600,000 in student debt and can I vote in person if I have COVID-19 or I’m quarantining? Monday’s Personal Finance Stories Monday’s Personal Finance StoriesMonday’s Personal Finance Stories.
6:52 a.m. Nov. 7, 2020 - By Ciara Linnane
Cannabis stocks rally for a second straight day with Aurora gaining 66% as Biden’s gains raise reform hopes ‘While Tuesday night’s election did not clearly show who America thinks should lead the nation, it did make clear that we are united on replacing our country’s archaic cannabis laws,’ says CCPCCannabis stocks enjoyed a second straight day of strong gains Friday, led by Aurora Cannabis Inc. with a 66% surge, on growing expectations that Democrat Joe Biden will win the 2020 presidential race and lead a reform effort that will put a spark under the still nascent sector.
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