Stock News

Stock Trading Market Observation for September 22nd

Today the most market-expected event is the FOMC statement with insights on inflation, economic growth and a breakdown fo individual FOMC member’s interest rate forecasts. In recent previous statements the Fed has expected a below 3.5% PCE increase by the end of the year, despite the “temporary” surge of 3.9%. The S&P500 index just reached […] Read more

Macy’s shares close higher on Wednesday, company to hire 76,000 workers ahead of holiday season

Macy’s Inc (M) said earlier this week that it intended to hire nearly 76,000 full-time and part-time workers at its stores, call centers and warehouses ahead of the busy holiday shopping season. The announcement indicated a return to hiring levels from before the coronavirus pandemic. Seasonal hiring plans also indicate retailers’ sales expectations for the […] Read more

Verizon shares close slightly lower on Monday, company increases subsidies on new iPhones

Verizon Communications Inc (VZ) said last week that it would increase its subsidies on offer for the newly launched iPhone 13, as it seeks to lure more clients to its network. Verizon will now offer trade-in subsidies of up to $1000, while matching its competitor AT&T Inc, up from $700 previously. Clients who turn in […] Read more

J.P. Morgan shares close lower on Friday, banking giant to launch digital bank Chase in the UK this week

J.P. Morgan (JPM) intends to launch its long-planned digital retail bank Chase in the United Kingdom this week, according to reports in the media. “This is a very big strategic commitment from the firm’s standpoint,” Sanoke Viswanathan, head of J.P. Morgan’s international consumer division, said in an interview with the Financial Times. “We will spend […] Read more

Skoda to halt Czech production for a week because of chip shortage

Skoda Auto, which is part of the Volkswagen group, plans to stop production at its facilities across the Czech Republic for one week at the end of September because of chip shortages, according to the head of Skoda’s union. Jaroslav Povsik, the head of the company’s union, said in a union newsletter that cancelled shifts […] Read more

AutoNation opens first of two AutoNation USA stores in Denver

AutoNation Inc (AN), the largest automotive retailer in the United States, said earlier this week that it had opened the AutoNation USA Denver 104 store. The latter is the first out of two AutoNation stores in Denver, which the company plans to open this year, and is located at 759 W 104th Avenue, Northglenn, CO […] Read more

Hibbett announces the opening of first Orange County store in Fullerton

US premium athleisure and footwear retailer Hibbett Sports, which operates more than 1,000 stores across the country, said earlier this week it had opened the first Orange County, California store in Fullerton. The 6,300 square foot store is located at 1365 S. Harbor Blvd., in the Fullerton Metro Center, while the Grand Opening celebration will […] Read more

Fox Entertainment purchases TMZ from AT&T’s WarnerMedia

According to a report by Reuters, Fox Entertainment has purchased the TMZ entertainment platform and its media assets from AT&T Inc’s WarnerMedia. According to Variety, the deal was valued at about $50 million. As part of the agreement, Fox will own and operate all TMZ-branded media assets, including the syndicated TV shows ‘TMZ’ and ‘TMZ […] Read more

Walt Disney shares close higher on Monday, remainder of 2021 films to be released exclusively in theaters

Walt Disney Co (DIS) said last week that it would release “Eternals,” “West Side Story” and the remainder of its 2021 movies exclusively in theaters prior to sending them to its streaming platform. The Walt Disney Animation Studios musical Encanto will be released in theatres on November 24th, before being released on Disney+ on December […] Read more

Toyota slashes annual production target due to parts and chips shortages

Toyota Motor Corp (7203) said last week that it had revised down its annual production target by 300,000 vehicles due to coronavirus-related output slowdown at parts facilities in Vietnam and Malaysia as well as because of a global shortage of auto chips. The largest auto maker worldwide now projects to manufacture 9 million vehicles during […] Read more