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    • Breaking News
    May 15, 2024
    • Consumer price inflation rose at a slower annual pace of 3.4% in April from 3.5% in March, the U.S. Bureau of Labor Statistics reported Wednesday. 

      The seasonally adjusted inflation index rose 0.3% in April after rising 0.4% in March on a monthly basis. 

      The index for shelter and gasoline rose, and combined, these two indexes contributed over seventy percent of the increase in all items. 

      The energy index increased 1.1% over the month, and the food index was unchanged. 

      The prices for used and new vehicles, household furnishings, and operations declined in the month. 

      The so-called core index, which excludes energy and food prices, slowed to a 0.3% increase after rising to 0.4% in each of the three previous months. 

      The annual pace of core consumer price index dropped to 3.6%, the lowest level since April 2021. 

       
      • May 14, 2024
      • Producer price index increased 0.5% in April from the previous month and rose 2.2% from a year ago, the U.S. Bureau of Labor Statistics reported Tuesday. 

        Nearly three quarter of increase in producer price inflation is linked to the increase in final demand for services.  

        Goods costs rose 0.4% after falling 0.2% in March, and service prices increased 0.6% from the previous month, following the downwardly revised 0.1% decline in March. 

        The index for final demand less foods, energy, and trade services moved up 0.4% in April after rising 0.2% in March. 

        For the 12 months ended in April, prices for final demand less foods, energy, and trade services increased 3.1%, the largest advance since climbing 3.4% for the 12 months ended April 2023.
        • Alibaba Group declined 5% to $80.39 after the China-based online e-commerce platform operator reported higher-than-expected revenue and said net income plunged 86%, reflecting the investment in publicly listed companies. 

          For the full-year 2023, revenue rose 8% to 941.2 billion yuan or $130.7 billion and net income advanced 10% to 79.7 billion yuan or $11 billion. 

          The company's board also approved the plan to payout $4 billion in dividends to shareholders. 

           
          • Home Depot declined 0.9% to $338.0 after the home improvement retailer reported weaker-than-expected results in the first quarter. 

            Comparable sales in the first quarter declined by 2.8%, and in the U.S. they fell by 3.2% from a year ago. 

            Revenue in the first quarter ending in April declined 2.3% to $36.4 billion from $37.3 billion, net income dropped 7% to $3.6 billion from $3.87 billion, and diluted earnings per share fell to $3.63 from $3.82 a year ago. 

            The specialty retailer said fiscal 2024 sales are likely to decrease 1.0%, including the 53rd week, but excluding the recent acquisition of SRS Distribution Inc. 

            Home Depot anticipated comparable same-store sales to fall 1% for the 52-week period, but 53-week diluted earnings per share to increase 1.0%. The 53rd week is expected to contribute 30 cents of diluted earnings per share. 
            • May 13, 2024
            • SquareSpace jumped 13% to $43.15, and the e-commerce platform operator agreed to go private in an all-cash deal valued at $6.9 billion. 

              The company's board agreed to a $44-a-share cash offer, and the company's chief executive, Anthony Casalena, will continue to lead the company and the board. 
              • Intel Corp. advanced 1% to $30.17 after private equity investor Apollo Global and the company are in advanced talks to build a manufacturing facility in Ireland. 

                Apollo is likely to invest $11 billion in the manufacturing facility, the Wall Street Journal reported Monday. 

                Intel is in the midst of a $100 billion investment spree as the company plays catch-up with Taiwan Semiconductor and diversifies its business model to provide foundry services to other fabless chip makers. 
                • May 10, 2024
                • Akamai Technologies decreased 9.1% to $94.06 after the internet infrastructure company estimated weaker-than-expected second quarter earnings. 

                  Revenue in the first quarter increased 8% to $987 million from $915.7 million, net income rose to $175.4 million from $97.1 million, and diluted earnings per share advanced to $1.11 from 62 cents a year ago. 

                  The company estimated a second-quarter revenue range between $967 million and $986 million and full-year revenue between $3.95 billion and $4.02 billion.
                  • Array Technologies rose 2.9% to $12.88 after the company reported better-than-expected adjusted earnings. 

                    Revenue in the first quarter decreased to $153.4 million from $376.8 million, net income swung to a loss of $11.3 million from $17.2 million, and diluted earnings per share were a loss of 7 cents compared to a profit of 11 cents a year ago. 

                    The company reaffirmed its annual revenue range of $1.25 billion to $1.4 billion and adjusted earnings per share to range between $1.0 and $1.15 billion. 
                    • Novavax soared 124% to $10.02 after the company announced a multi-billion-dollar deal with Sanofi to co-commercialize its COVID vaccine starting as early as 2025. 

                      Sanofi agreed to pay Novavax an upfront licensing fee of $500 million and an additional fee of $700 million based on reaching certain milestones. 
                      • Sweetgreen soared 39% to $32.95 after the salad chain reported higher-than-expected revenue in the first quarter. 

                        Revenue in the first quarter increased by 26% to $157.9 million from $125.1 million, driven by the same store sales increase of 5% from a year ago. 

                        Net loss in the quarter decreased to $26.1 million from $33.6 million, and diluted loss per share fell to 23 cents from 30 cents a year ago.