Inflation is cooling, but prices on many items are going to stay high for months

A grocery store in New York. Wang Ying | Xinhua News Agency | Getty Images Inflation may be cooling. But, for most Americans, the price of a cup of coffee or a bag of groceries hasn’t budged. In the months ahead, the big question is whether consumers will start to feel relief, too. related investing news Over the past few months, many of the key factors that fueled a four-decade high in inflation have begun to fade. Shipping costs have dropped. Cotton, beef and other commodities have gotten cheaper. And…

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Stocks making the biggest moves midday: Big Lots, Best Buy, Nikola and Lucid

A customer exits a Big Lots store in Clifton, New Jersey. Emile Wamsteker | Bloomberg | Getty Images Check out the companies making headlines in midday trading. Big Lots – Shares jumped 7.8% after the discount retailer posting a smaller-than-expected loss for the recent quarter. Revenue also beat expectations and comparable store sales fell 9.2% year over year, but beat analysts’ expectations of a wider decline. Best Buy – Shares of Best Buy gained 2.9% after the retailer reported results before the bell Tuesday that beat Wall Street’s expectations on…

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Breakfast sales hold steady as people heading back to offices cut back elsewhere

Consumers may be dining out less, but breakfast sales are holding steady as people return to offices and grab a quick bite or iced coffee on the way to work. Overall traffic to restaurants fell 2% in the second quarter from a year ago as inflation drove menu prices up, according to market research firm The NPD Group. The only category that was unchanged: breakfast and morning snacks. Restaurant companies like Starbucks say morning sales are being driven in part by people returning to their pre-pandemic work routines. David Portalatin,…

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Cramer’s lightning round: It’s too soon to buy Rocket Companies

Rocket Companies Inc: “It’s such a good company, but when rates go up, it does poorly. And the Fed wants housing to slow. So therefore, their business is going to slow, too. Too soon to buy.” Garmin Ltd: “It’s fabulous. … I think their stock is great.” Mosaic Co: “I think Agco is cheaper, and I think Deere is better, and I want you on one of those two.” Source link

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Stocks making the biggest moves midday: Apple, Tesla, Starbucks and more

Apple signage on the Apple campus in Cupertino, California. David Paul Morris | Bloomberg | Getty Images Check out the companies making headlines in midday trading. Apple — The tech giant saw its shares jump more than 3% after Morgan Stanley’s Katy Huberty raised Apple’s price target from $164 to $200 and maintained an overweight rating. The analyst believes that new products from Apple, like an augmented reality headset or self-driving car, aren’t yet baked into the share price. Tesla — Tesla shares gained 3.5% after UBS hiked its price target on the stock…

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Stocks making the biggest moves premarket: American Airlines, AutoZone, GlaxoSmithKline and others

Check out the companies making headlines before the bell: American Airlines (AAL) – Chief Executive Officer Doug Parker announced he would step down from that job on March 31 and remain as chairman. He’ll be replaced as CEO by current American Airlines President Robert Isom. American rose 3% in the premarket. AutoZone (AZO) – The auto parts retailer reported a quarterly profit of $25.69 per share, beating the consensus estimate of $20.87. Revenue also beat estimates, with comparable store sales jumping 13.6%. Analysts surveyed by StreetAccount had predicted a comp-store…

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Jack in the Box buys Del Taco in $575 million deal

Del Taco signage is displayed outside of a Del Taco restaurant in Gardena, California. Patrick T. Fallon | Bloomberg | Getty Images Jack in the Box is buying Del Taco, the second-largest Mexican fast-food chain in the U.S., in a deal valued at roughly $575 million. The burger chain will pay $12.51 per share in cash for the acquisition. Del Taco stock closed Friday at $7.53 per share. Jack in the Box plans to finance the acquisition by issuing additional securitization notes. “This is a natural combination of two like-minded,…

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Stocks making the biggest moves premarket: Deere, Gap, Nordstrom, VMware, HP & more

Check out the companies making headlines before the bell: Deere & Co. (DE) – The farm equipment maker reported quarterly earnings of $4.12 per share, beating the consensus estimate of $3.90, although revenue came in slightly below analyst forecasts. Deere said solid demand for its products helped cushion the impact of a month-long workers strike. Deere rallied 3.7% in the premarket. Nordstrom (JWN) – Nordstrom plummeted 25% in premarket trading after it reported earnings of 39 cents per share for its latest quarter, shy of the 56 cent consensus estimate. The retailer was…

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Majority of restaurant operators say business conditions are worse now than three months ago, survey finds

More than half of restaurant operators surveyed by the National Restaurant Association say that business conditions are worse now than three months ago. The trade group surveyed 4,000 operators between Sept. 7 and Sept. 15 and is using the results to lobby against President Joe Biden’s plan to raise the corporate tax rate and proposed changes to the National Labor Relations Act that would allow fines of $50,000 to $100,000 for labor violations. The association is also asking lawmakers to replenish the Restaurant Revitalization Fund, which was created during the…

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The new restaurant that just delivered dinner could be a spinoff of one of these popular chains

DoorDash delivery person Source: DoorDash A few years ago, established restaurant companies were creating new eateries to appeal to younger consumers. That trend hasn’t slowed down, but now those spinoff brands exist in only cyberspace. Virtual brands are restaurants available only on third-party delivery apps. Their creators use existing restaurant kitchens to whip up orders from a menu that was designed for off-premise customers. Pizza, chicken wings and burgers are popular options because they all travel well and don’t usually require extra equipment to make. While virtual brands were becoming…

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