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    • Breaking News
    Jan 10, 2024
    • WD-40 Company advanced 6.5% to $252.0 after the lubricant maker reported better-than-expected quarterly results.

      Revenue in the fiscal first quarter ending in November increased 12% from a year ago to $140.4 million, rose to $17.5 million from $13.99 million, and diluted earnings per share advanced to $1.28 from $1.02 a year ago.
      • Lennar Corp. increased 1.4% to $150.17 after the home builder increased its annual dividend to $2.0 from $1.50 a share and the company's board approved the stock repurchase program of $5 billion.
        • PriceSmart jumped 8.9% to $79.42 after the membership warehouse club reported fiscal first quarter results.

          Revenue in the quarter ending in November rose 10.6% to $1.2 billion from $1.05 billion, net income jumped to $38 million from $32.9 million, and diluted earnings per share advanced to $1.24 from $1.05 a year ago.
          • Jan 9, 2024
          • The U.S. international trade deficit narrowed to $63.2 billion in November from $64.5 billion in October, the Bureau of Economic Analysis reported Tuesday.

            The goods deficit declined $0.6 billion to $89.4 billion, and the service surplus rose $0.7 billion to 26.2 billion.

            Total exports decreased by 1.9% to $253.7 billion, and total imports declined by the same amount to $316.9 billion.

            Year-to-date, the goods and services deficit decreased $161.8 billion, or 18.4%, from the same period in 2022.

            Exports increased $28.8 billion, or 1.0%, and imports decreased $133.0 billion, or 3.6%.

            The deficit with China declined by $2.4 billion to $21.5 billion and with the European Union by $3.5 billion to $15.6 billion, but rose by $2.0 billion to $2.3 billion.

             
            • Jan 5, 2024
            • Nonfarm payrolls expanded by 216,000 in December, the U.S. Bureau of Labor Statistics reported Friday.

              Economists polled by Ticker.com estimated payroll expansion by 160,000 after the economy added a downwardly revised 173,000 jobs in November.

              However, the jobless rate was unchanged at 3.7%.

              For the year 2023, the U.S. economy added 2.7 million jobs, the smallest increase since 2019 excluding pandemic-impacted 2020, an average monthly increase of 225,000.

              Governments at all levels expanded jobs by 52,000, followed by gains in leisure and hospitality of 40,000, healthcare by 38,000, social assistance by 21,000, and construction by 17,000.

              Employment in the leisure and hospitality sectors rose by 39,000 a month, following a monthly increase of 88,000 in 2022, but is still lagging the pre-pandemic peak in February 2020 by 163,000.

              Employment in transportation and warehousing declined by 23,000 in December, and employment in the sector has declined by 100,000 after peaking in November 2022.

              In December, average hourly earnings for all employees on private nonfarm payrolls increased by 0.4%, or 15 cents, to $34.27 and gained 4.1% over the last twelve months.

              The change in total nonfarm payroll employment for October was revised down by 45,000 to 105,000, and in November it was revised lower by 26,000 to 173,000.
              • Jan 4, 2024
              • The private sector added payrolls at a faster-than-expected pace in December, highlighting the resilient U.S. labor market.

                Private payrolls in the U.S. increased 164,000 in December, higher than a downwardly revised 101,000 in November, ADP reported Thursday.

                The leisure and hospitality sector led the increase with an addition of 59,000, followed by increases in the construction sector by 24,000 and financial services by 18,000.

                The closely watched nonfarm payroll data from the U.S. Labor Department is scheduled to be released on Friday, and economists are looking for the economy to add at least 160,000, according to a survey conducted by Ticker.com, following the increase of 199,000 in November.

                 
                • Cal-Maine Foods dropped 5.2% to $52.05 after the egg producer reported fiscal second-quarter results.

                  Revenue plunged in the quarter after the average selling price per dozen fell to $1.70 from $2.70 and the number of dozne eggs sold increased to 288.2 million from 284.0 million, respectively, in the previous year.

                  Revenue in the quarter dropped to $523.2 million from $801.7 million, net income declined to $16.6 million from $198.3 million, and diluted earnings per share dropped to 35 cents from $4.07 a year ago.
                  • Walgreens Boots Alliance increased 0.1% to $25.60 after the pharmacy operator reported fiscal first-quarter earnings and revenues that were ahead of market expectations.

                    Revenue in the quarter increased by 10%. $36.7 billion from $33.4 billion, net loss attributable to shareholders shrank to $67 million from $3.7 billion, and diluted loss per share declined to 8 cents from $4.431 a year ago.

                    In the quarter, operating loss improved to $39 million compared to an operating loss of $6.2 billion in the year-ago quarter because of lapping the $6.5 billion pre-tax charge for opioid-related claims and litigation recorded in the year-ago quarter.

                    Adjusted operating income was $687 million, a decrease of 33% on a constant currency basis reflecting softer U.S. retail market trends, partly offset by improved profitability in the U.S. market and growth in international operations.

                    The U.S. retail pharmacy segment sales increased 6.4% to $28.9 billion, and comparable sales increased 8.1% from the year-ago quarter, respectively.

                    Comparable prescriptions filled in the quarter increased 1.3% from the year-ago quarter, while excluding immunizations, they increased 1.8%, impacted by lower market growth due to a weaker flu and respiratory season and Medicaid redeterminations.

                    Total prescriptions filled in the quarter, including immunizations adjusted to 30-day equivalents, were 311.6 million, steady compared to the quarter a year ago.

                    The retailer cut the quarterly dividend by 48% to 25 cents from 48 cents a year ago to strengthen its balance sheet and improve its cash position.

                    The company reiterated its fiscal 2024 adjusted earnings per share estimate of between $3.20 and $3.50.
                    • Jan 3, 2024
                    • The number of job openings declined by 62,000 to 8.79 million in November, the U.S. Bureau of Labor Statistics reported Wednesday.

                      The number of job openings declined to the lowest level since March 2021, fell for the third consecutive month in a row, and decreased from a record high of 12 million in March 2022.

                      In November, the number of hires decreased by 363,000 to 5.5 million, total separations declined by 292,000 to 5.3 million, and quits edged down by 157,000 to 3.5 million.

                      During the month, job openings declined in transportation, warehousing, and utilities by 128,000 and in federal government by 58,000, but job openings expanded in wholesale trade by 63,000.

                      Across the nation, job openings fell in the South by 128,000, in the Northeast by 29,000, and in the West by 7,000, but increased in the Midwest by 102,000.
                      • Dec 22, 2023
                      • Nike Inc. dropped 12.7% to $106.90 after the athletic shoe and sportswear maker lowered its annual sales growth outlook.

                        Revenue in the fiscal second quarter ending in November increased 1% to $13.4 billion from $13.3 billion, net income advanced $1.6 billion from $1.3 billion, and diluted earnings per share rose to $1.03 from 85 cents a year ago.

                        Inventories declined 14% from a year ago to $8.0 billion, reflecting a decrease in units and a sharp reversal from elevated inventories a year ago after the company discounted heavily old-style products to make way for new merchandise.

                        The company repurchased 11.9 million shares for $1.2 billion as a part of its $18 billion stock repurchase program for four years, starting in June 2022.

                        As of the end of November, the company had repurchased 65.9 million shares for $7.1 billion.

                        The company also announced its plan to cut $2 billion in costs over the next three years.

                        Foot Locker, the retailer that relies heavily on Nike products, dropped 8.9% to $29.49 after the announcement of the Nike results.