Author: Mark Salvia

Canada’s Economy Sheds Jobs in July, Unemployment Rate Rises to 5.7%

Canada’s Economy Sheds Jobs in July, Unemployment Rate Rises to 5.7%

Canada’s economy unexpectedly shed jobs in July with the biggest decline seen in the services-producing sector while the overall unemployment rate rose, government data showed. Employment fell by 24,200 jobs last month, Statistics Canada said on Friday. The Econoday consensus was for an increase of 6,000 jobs and in June, the country lost 2,200 jobs. The unemployment rate increased by […]

Wynn Resorts Earnings Beat in Second Quarter on Broadbased Revenue Growth

Wynn Resorts Earnings Beat in Second Quarter on Broadbased Revenue Growth

Wynn Resorts (WYNN), a developer and operator of hotels and casinos, reported late on Tuesday second-quarter earnings that beat the market’s guidance as sales grew from a year ago on the back of broadbased growth across “all” of the group’s properties. Operating revenue at the Las Vegas-based company rose by 3.3% to $1.66 billion during the three months that ended […]

UK Manufacturing Stuck at Multi-Year Low

UK Manufacturing Stuck at Multi-Year Low

A closely followed gauge of UK manufacturing remained stuck at a six-and-a-half-year low in July as a downturn in the sector continued at the start of the third quarter, according to fresh figures from IHS Markit. At 48.0 in July, unchanged from June, the headline seasonally adjusted IHS Markit/CIPS Purchasing Managers’ Index stayed below the neutral 50.0 mark for the […]

Bristol-Myers Squibb Updates Guidance

Bristol-Myers Squibb Updates Guidance

Pharmaceutical major Bristol-Myers Squibb (BMY) lifted its full-year adjusted earnings guidance early on Thursday as it posted better-than-expected results for its second-quarter which were supported by double-digit growth in its blood clot prevention treatment Eliquis. Revenue rose to $6.27 billion in the three months ended June 30, up from $5.7 billion in the corresponding quarter of the prior year, surpassing […]

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 […]

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 […]