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 premarket: Tesla, Meta, DR Horton and more

Check out the companies making headlines before the bell: Tesla (TSLA) – SEC filings show CEO Elon Musk sold nearly $4 billion in Tesla shares in the days following his purchase of Twitter. Tesla shares added 1.5% in the premarket. Meta Platforms (META) – The Facebook parent’s shares rallied 4.3% in premarket trading after the company announced it was laying off 13% of its workforce, or more than 11,000 workers. DR Horton (DHI) – The home builder’s stock slid 3.1% in the premarket after it missed top and bottom line…

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IPO market stays dormant as Justworks and Fresh Market withdraw their filings

A person checks her phone at Wall Street near the New York Stock Exchange (NYSE) in New York on May 27, 2022. Angela Weiss | AFP | Getty Images The IPO market has been frozen for most of 2022, and it shows no signs of reopening. On Wednesday, software vendor Justworks and food retailer Fresh Market withdrew their IPO filings. Both companies initially disclosed plans to go public last year. In short filings with the SEC, they said they no longer plan to pursue share sales, without providing a reason.…

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Amazon is turning grocery-picking gig workers into Whole Foods employees as delivery demand booms

An independent contractor wearing a protective mask and gloves loads Amazon Prime grocery bags into a car outside a Whole Foods Market in Berkeley, California, Oct. 7, 2020. David Paul Morris | Bloomberg | Getty Images While Amazon has struggled to find a consistent grocery strategy in the 15 years since it started dabbling in delivery, the Covid-19 pandemic has made one thing abundantly clear: consumers have a diminishing desire to walk the supermarket aisles. The rest of the industry has figured that out as well. Now Amazon is streamlining…

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Kroger is taking on Publix in Florida without opening a single grocery store — and building a blueprint for its future

Kroger’s delivery vans double as a billboard. The company is using them to get out the word that it’s now offering grocery deliveries in Florida. Melissa Repko GROVELAND, Fla.— Kroger wants to attract tens of thousands of new customers in Florida — and it plans to do that without opening a single grocery store. Instead, the supermarket operator is relying on a giant warehouse of robots that help retrieve such products as bananas, milk and meat, and a fleet of delivery drivers that drop off online grocery orders at people’s…

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Whole Foods CEO John Mackey to step down from role in 2022

John Mackey, CEO of Amazon-owned grocer Whole Foods, will retire next year and step down from his role, the company announced Thursday. Whole Foods’ current COO, Jason Buechel, will become the new CEO following Mackey’s retirement, the company said. In a memo to employees, Mackey said he’s “ready to pursue some of my other life passions” after 43 years at Whole Foods and said Buechel is well-prepared to assume the role of CEO. “I’ve decided that it’s time to begin to transition my role as CEO to the next generation…

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Stocks making the biggest moves premarket: Campbell Soup, PVH, Ambarella, CrowdStrike and others

Check out the companies making headlines before the bell: Campbell Soup (CPB) – The food producer beat top and bottom-line estimates for its latest quarter, earning an adjusted 55 cents per share and beating consensus by 7 cents. It issued a fiscal 2022 adjusted earnings outlook of $2.75-$2.85 per share, compared with a consensus estimate of $2.87, as it deals with higher input costs and a constrained labor market. Shares were initially up more than 1% in premarket trading but subsequently trimmed those gains. PVH (PVH) – PVH reported adjusted…

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Investors bet on grocers like Kroger, Costco as Covid-19 cases spook Wall Street

As U.S. stocks plummeted Monday, investors bet on a familiar category that could grow if Covid-19 cases continue to rise: Grocery stores. Shares of Kroger, Albertsons, BJ’s Wholesale Club were up as of midday Monday. Costco touched an all-time high of $415.32. Those stocks were among the rare bright spots on Wall Street, as the Dow Jones Industrial average appears headed for its biggest drop of the year. Several other stay-at-home stocks, including Clorox and Peloton, were also in the green. Grocers have been some of the biggest pandemic beneficiaries over…

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