Latest News

Narrow Decline for Financial Stocks in Afternoon Trading

Narrow Decline for Financial Stocks in Afternoon Trading

Top Financial Stocks JPM +0.46% BAC +0.80% WFC -0.14% C +0.98% USB +0.62% Financial stocks were declining in afternoon trading, including a 0.1% slide for the NYSE Financial Index while shares of financial companies in the S&P 500 were edging almost 0.1% higher. The Philadelphia Housing Index was sinking 1.3%. Among financial stocks moving on news: (-) American Assets Trust […]

Cracker Barrel’s Third-Quarter Revenue Beats Views

Cracker Barrel’s Third-Quarter Revenue Beats Views

Cracker Barrel Old Country Store (CBRL) on Tuesday reported revenue for its fiscal third quarter that beat expectations as the restaurant operator announced a new share-repurchase program, raised its quarterly dividend by 4%, and declared a special dividend of $3 per share. The Lebanon, Tenn.-based company said revenue for the quarter ended May 3 rose to $739.6 million from $721.4 […]

Gap’s Spinoff of Old Navy Couldn’t Have ‘More Unfortunate’ Timing as Sales Slow, Wedbush Says

Gap’s Spinoff of Old Navy Couldn’t Have ‘More Unfortunate’ Timing as Sales Slow, Wedbush Says

Gap’s (GPS) planned spinoff of its Old Navy unit couldn’t have “more unfortunate” timing as the parent company’s fiscal first-quarter results missed views and its “golden” brand showed slowing demand, Wedbush Securities said in a note on Friday. The analysts lowered their price target on Gap’s shares to $19 from $23 but maintained the company’s neutral rating. Shares plunged 10% […]

Organigram Closes $140 Mln Credit Facility with Bank of Montreal

Organigram Closes $140 Mln Credit Facility with Bank of Montreal

Organigram Holdings (OGI) said Friday that it has closed its previously announced $140 million credit facility with Bank of Montreal (BMO) as lead arranger and agent as well as a syndicate including three other lenders. The facility consists of a $115 million term loan and a $25 million revolving credit facility, both of which mature in 2022. It includes an […]

Major Market Indexes Tumble Friday Ending May With Steep Losses

Major Market Indexes Tumble Friday Ending May With Steep Losses

Stocks closed sharply lower Friday after the US threatened to impose tariffs on goods from Mexico, potentially opening a new trade war front. The Friday slump is emblematic of the month of May for stocks. The Dow Jones Industrial Average fell 1.4% while the S&P 500 slumped 1.3%. The Nasdaq Composite Index surrendered 1.5%. The major market indexes all closed […]

S&P 500 Posts 2.6% Weekly Decline, 6.6% Monthly Drop

S&P 500 Posts 2.6% Weekly Decline, 6.6% Monthly Drop

The Standard & Poor’s 500 index closed Friday’s session down 2.6% on the week and recorded its first monthly drop since December as worries about trade tensions increased amid new threats by the US on Mexico. The index ended the week at 2,752.06, down from last week’s closing level of 2,826.06 and marking its largest weekly drop since the week […]

Nasdaq Delists Intellipharmaceutics, Aceto, GTY Technology’s Warrant

Nasdaq (NDAQ) on late Friday said it will delist two medical companies, namely Intellipharmaceutics International (IPCI) and Aceto (ACET), as well as the warrant of GTY Technology Holdings (GTYHW). According to a statement, Intellipharmaceutics International’s stock was suspended on March 21 and has not traded on Nasdaq since that time, and Aceto’s stock was suspended on April 3 and has […]

Bond Prices Extend Rally Late, Settle Near Highs; Curve Steeper

US Treasury prices took off Friday following an overnight rally on the threatened Mexican trade tariffs and extended gains into the close with the 2-year holding a significant lead while the long bond was the laggard, steepening the curve. The market was able to add to the upside on the break in equities as flight-to-quality and month-end buying boosted prices […]