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Stocks

“Block shares surge 16% after company announces surprise profit”

“Block stock closed up 16% Friday, a day after the payments company reported fourth-quarter earnings that beat analysts’ estimates on gross profit and showed strong growth in its Square and Cash App revenue. Here’s how the company did, compared to analysts’ consensus from… Continue Reading…

Business

“Businesses are returning $140 million in surprise overdraft fees to consumers, according to a CFPB report”

“The nation’s federal consumer protection watchdog announced Wednesday that companies will refund $140 million to customers as a result of its work to uncover illegal so-called junk fees…. Nearly two-thirds of banks with more than $10 billion in assets have also eliminated NSF fees,… Continue Reading…

Stocks

“Abercrombie & Fitch surges more than 20% after reporting surprise profit”

“Shares of Abercrombie & Fitch soared more than 20% on Wednesday after the mall retailer beat estimates, raised its guidance and reported a surprise profit.  Here’s how Abercrombie did in its fiscal first quarter compared with what Wall Street was anticipating, based… Continue Reading…

Economy

“Retail sales post surprise gain as consumers show strength…”

“Retail sales posted a surprise gain in August despite fears that escalating Covid cases and supply chain issues would hold back consumers, the Census Bureau reported Thursday. Sales increased 0.7% for the month against the Dow Jones estimate of a… Continue Reading…

Business, Stocks

“Boeing posts surprise profit as aircraft demand rebounds from pandemic slump”

“…Boeing’s revenue rose 44% to nearly $17 billion from $11.8 billion a year earlier, beating analyst estimates of $16.54 billion. Here’s how the company performed compared with analysts’ estimates complied by Refinitiv: Adjusted EPS: 40 cents vs a per-share loss… Continue Reading…

Economy, Stocks

“Dow jumps more than 800 points, Nasdaq hits a record after surprise jobs surge boosts recovery bets”

“The Nasdaq Composite became the first of the three major averages to climb back to an all-time high, advancing 2.0%, or 198.27 points, to 9,814.08 on Friday and touching an intraday record of 9,845.69. After tumbling as much as 25% earlier this… Continue Reading…

Economy

“Oil Prices Jump As Key U.S. Supply Data Stuns Again; Output Continues To Plunge”

“U.S. crude production fell to 11.5 million barrels per day from 11.6 million bpd in the prior week, EIA said Wednesday. That’s down from a high of 13.1 million in March and the marked the seventh consecutive decrease… U.S. crude futures… Continue Reading…

Banking, Economy, Stocks

“Stocks will ‘rally into the end of the year’ after upside earnings surprise, says J.P. Morgan’s Matejka”

““We were looking for a correction in August, but we believe the market will rally into the end of the year,” Matejka said in an interview. “The key call is that the U.S. is not headed for a recession. The… Continue Reading…

Business

“The most overworked cities in the US might surprise you”

“If you live in Washington D.C., Houston or Atlanta, it might be time to take a vacation. Those three cities, followed by Seattle and Chicago, are the most overworked cities in the United States, according to a study released by the mobile… Continue Reading…