Category: Business

Try these gas-saving tips before you hit the road this Memorial Day weekend

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Heading into the peak summer driving season, which kicks off on Memorial Day weekend, gasoline prices show no signs of slowing down. The national average for unleaded gas hit a new high of $4.59 per gallon Wednesday, with all 50 states above $4 per gallon, AAA data shows. Gas prices are now $1.56 more than a year ago and $1.05 more than they were when the war in Ukraine started in February, according to AAA spokesperson Andrew Gross. “That sent shock waves through the oil market that have kept oil…

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Stocks making the biggest moves premarket: Dick’s Sporting, Express, Wendy’s and more

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Check out the companies making headlines before the bell: Dick’s Sporting Goods (DKS) – The sporting goods retailer’s shares slid 14.4% in the premarket after it issued a weaker-than-expected outlook for the full year as it adjusts for what it calls challenging macroeconomic conditions. Dick’s reported better-than-expected profit and revenue for its latest quarter, and comparable-store sales that fell less than expected. Express (EXPR) – The apparel retailer’s shares jumped 11.8% in premarket trading after reporting quarterly results that were better than expected. Express lost an adjusted 10 cents per…

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5 things to know before the stock market opens Wednesday

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Here are the most important news, trends and analysis that investors need to start their trading day: 1. Nasdaq futures slide, a day after tech-heavy index sank more than 2% Traders on the floor of the NYSE, May 23, 2022. Source: NYSE U.S. stock futures fell Wednesday, one day after the Nasdaq dropped 2.4% as Snap‘s 43% slide on a profit warning dragged many other tech stocks lower. The Nasdaq’s bear market Tuesday was just shy of a 30% decline from its most recent high. The S&P 500 retreated 0.8%,…

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Dick’s Sporting Goods shares sink after retailer cuts outlook for the year, joining broader retail trend

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A Dick’s Sporting Goods store stands in Staten Island on March 09, 2022 in New York City. Spencer Platt | Getty Images Dick’s Sporting Goods on Wednesday reported results for its fiscal first quarter that topped Wall Street’s expectations, as shoppers spent money on golf clubs, soccer gear and athletic apparel from brands like Nike and Adidas. But Dick’s isn’t immune to sky-high inflation and ongoing supply chain challenges. The company cut its financial forecast for the full fiscal year. Shares of the retailer fell around 13% in premarket trade.…

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Pfizer CEO says he ‘wouldn’t worry much’ about monkeypox; cuts drug prices for low-income countries

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Albert Bourla, Pfizer CEO, at the WEF in Davos, Switzerland on May 25th, 2022. Adam Galici | CNBC Pfizer‘s CEO said Wednesday that he “wouldn’t worry much” about a recent monkeypox outbreak that has seen cases surge in non-endemic countries. Albert Bourla told CNBC that current data on the disease suggests it doesn’t transmit as easily as other viruses, such as Covid-19, and that it is unlikely to lead to a pandemic. “I don’t have all the information ahead of me. With everything I know, I wouldn’t worry much,” he…

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Large employers face tough hurdles to provide abortion benefits if Roe is overturned

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Kim Nguyen felt a sense of pride last fall when her bosses at Alloy committed to pay travel expenses for workers in Texas if they needed to access abortion services, after the state passed new restrictions. “These types of things, especially around equity, diversity, inclusion, access to reproductive rights, [are] front and center for me personally. And it’s so amazing that the company sees that as well,” said Nguyen, vice president of people at Alloy.   The founders of the New York-based fintech start-up have pledged to expand the travel…

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Mortgage demand slides further, even as interest rates pull back slightly

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A for sale sign is posted in front of a home that is listed for over $1 million on April 29, 2022 in San Francisco, California. Justin Sullivan | Getty Images Mortgage rates turned lower for the second straight week, but it wasn’t enough to boost demand for either new purchase loans or refinances, according to a weekly report from the Mortgage Bankers Association. Rates are still much higher than they were for the past two years. Last week the average contract interest rate for 30-year fixed-rate mortgages with conforming…

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British government approves Boehly’s £4.25 billion Chelsea takeover

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Todd Boehly pictured after the Premier League match between Chelsea and Watford at Stamford Bridge, London on Sunday 22nd May 2022. On 25th May, the U.K. government approved the £4.25bn Boehly-led consortium’s takeover of Chelsea. Ivan Yordanov/MI News | Nurphoto | Getty Images The government has approved the £4.25bn Todd Boehly-led consortium takeover of Chelsea. After months of negotiations, the deal has finally been approved after the government received legal guarantees that Roman Abramovich — who has had his UK assets frozen — will not benefit from the sale. “Last…

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Warriors coach Steve Kerr angrily condemns senators for inaction on guns after Texas school shooting

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A visibly angry and shaken Steve Kerr on Tuesday evening condemned senators, particularly Republican leader Mitch McConnell, for failing to act on gun legislation, hours after a gunman killed 18 children and at least one adult at an elementary school in the west Texas town of Uvalde. “When are we going to do something?” Kerr, the Golden State Warriors’ head coach, shouted at a press conference before his team was set to take on the Dallas Mavericks in game four of the NBA’s Western Conference Finals. The teams were playing…

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Stock futures rise following Tuesday’s losses in the Nasdaq

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Traders on the floor of the NYSE, May 17, 2022. Source: NYSE U.S. stock futures rose on Tuesday night after the Nasdaq Composite dropped during the regular session, following a warning of slowing growth from social media company Snap that hurt the tech-heavy index. Dow Jones Industrial Average futures rose 111 points, or 0.4%. S&P 500 and Nasdaq 100 futures climbed 0.4% and 0.6%, respectively. Nordstrom shares jumped more than 10% in extended trading after the retailer surpassed sales expectations and raised its full-year outlook. The retailer experienced a surge…

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