Opinion: Micron earnings suggest the chip downturn could be worse than Wall Street expects

Micron Technology Inc. executives warned about a semiconductor downturn in late June, but now say that a “sharp and sudden” drop in demand exceeded even those expectations, suggesting the current chip glut could get a lot worse. Micron MU, -1.94% reported a worse-than-expected fiscal fourth quarter Thursday, with revenue plunging 23% from last year, but … Read more

Nike stock drops 10% as execs predict cheaper clothing for at least the rest of the year

Shares of Nike Inc. plunged as much as 10% after hours Thursday, after the athletic-gear giant’s executives said price-cutting efforts to flush off-season clothing from warehouses in North America would dent gross margins for the rest of its fiscal year and warned of a big potential hit from the stronger dollar. Management also said they … Read more

Nike’s results offer a clue about the strong dollar and the upcoming earnings season

How has the strong dollar impacted big multinational companies this quarter? Nike ‘s results after the bell on Thursday may offer a good preview of what’s to come as earnings season kicks into a high gear in mid-October. The sneaker and apparel giant saw a currency headwind of about 6 percentage points in its fiscal … Read more

Micron Issues Another Muted Outlook After Missing Expected Sales Results

Memory-chip maker Micron MU -1.94% Technology Inc. issued another subdued revenue outlook after failing to meet its sales expectations in the latest quarter, in a further sign demand for consumer electronics is slumping. “An unprecedented confluence of events has affected overall demand,” Chief Executive Sanjay Mehrotra said in a statement, citing Covid-19 related lockdowns in … Read more

Apple, CarMax, Bed Bath & Beyond and more

Check out the companies making headlines before the bell: Apple (AAPL) – Apple lost 2.2% in the premarket after BofA Securities downgraded it to neutral from buy. BofA said Apple has held up relatively well in a down market, but it expects a negative impact on the company from weakening consumer demand. CarMax (KMX) – … Read more

5 Dividend Stocks to Beat Inflation and Rising Interest Rates

Dividend stocks are facing stiffer competition, thanks to a big spike in bond yields. A risk-free 10-Year Treasury note was recently yielding 3.7%, up from 1.63% at the start of 2021. That’s well above the S&P 500 index’s dividend yield of 1.76%, making bonds more attractive for income investors. But this isn’t the time to … Read more

Tumbling Markets Imperil Tech, the Dollar, and Private Equity

Text size Japan has had to intervene to support the sliding yen for the first time since 1998, even as it tries to keep its interest rates low. Akio Kon/Bloomberg The world has been hooked on cheap money for years. Now we’re witnessing what withdrawal looks like. Lifting interest rates from nil has produced a … Read more

Hedge fund Millennium’s €126m Porsche short signals bearish bet on IPO

Ahead of Volkswagen’s IPO of Porsche AG in a few weeks, hedge fund Millennium International Management has built a large short position in Porsche SE. According to data from research firm Breakout Point, Millennium disclosed a position representing 0.6% of the company’s shares on 14 September. A rough estimate based on current market capitalisation would … Read more

Stocks making the biggest moves after hours: Costco, DocuSign, Scholastic

Customers carry their items after shopping at Costco in Washington D.C., May 5, 2021. Ting Shen | Xinhua News Agency | Getty Images Here are the stocks making notable moves in extended trading: Costco — The wholesale membership club retailer was down about 2.8% after reporting fiscal fourth quarter earnings post-market, and saying it’s seeing … Read more

Novavax Stock Slides As JPMorgan Cuts Price Target, Lowers Rating

Novavax Inc.  (NVAX)  shares moved sharply lower Thursday after analysts at JPMorgan lowered their rating and price target on the drugmaker following its decision to slash near-term sales forecasts.    JPMorgan analyst Eric Joseph cut his rating on the stock to ‘underweight’, from ‘neutral’, while slashing his price target by more than $100, to $27 per … Read more