Nordstrom on Tuesday posted earnings that blew past Wall Street’s expectations, indicating the department store is making strides in its efforts to cut costs and boost efficiencies. Though the Seattle-based retailer posted earnings per share that were 25 cents higher than expected, it issued tepid guidance for the full year. Nordstrom now expects adjusted earnings per share to be between $1.75 and $2.05, compared to a previous range of $1.65 to $2.05. It anticipates sales will be in a range of a 1% decline to 1% growth from the prior year, compared to previous guidance of down 2% to up 1%. In a…
Author: usaeverydaylife
Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., August 28, 2024. Brendan McDermid | ReutersStocks @ Night is a daily newsletter delivered after hours, giving you a first look at tomorrow and last look at today. Sign up for free to receive it directly in your inbox.Here’s what CNBC TV’s producers were watching as a decline in Nvidia shares weighed on the S&P 500 Wednesday and what’s on the radar for Thursday’s session.Three big tech stocks to watch Thursday morningNvidia is down about 7% after hours after reporting its quarterly report. CNBC TV’s man…
‘Fast Money’ trader Katie Stockton talks investing in agriculture, trading on volatility and more. Source link
IRS Commissioner Daniel Werfel testifies before the House Small Business Committee on July 17, 2013.James Lawler Duggan | ReutersThe IRS has unveiled a “voluntary disclosure program” for businesses that claimed a pandemic-era tax credit in error and want to pay the money back.Worth thousands per employee, the employee retention tax credit, or ERC, was designed to support small businesses affected by the Covid-19 pandemic. The lucrative tax break sparked a cottage industry of firms pushing employers to wrongly claim the credit. The IRS unveiled a “special withdrawal process” for companies with pending claims in September. The new voluntary disclosure program offers applicants…
Telegram founder and CEO Pavel DurovManuel Blondeau – Corbis | Corbis News | Getty ImagesThe chief executive officer of Telegram, Pavel Durov, was arrested at an airport on Saturday night outside Paris and placed in custody for alleged offenses related to the messaging app.The 39-year-old Russian-born billionaire was reportedly accused of failing to mitigate the misuse of his social media and messaging platform for criminal activities.The Paris Public Prosecutor’s Office issued an arrest warrant for Durov in connection to an investigation opened on July 8 into organized crime, drug trafficking, fraud, and the distribution of pornographic images of minors on…
Botswana’s President Mokgweetsi Masisi holds a large diamond discovered in Botswana at his office in Gaborone on August 22, 2024.Monirul Bhuiyan | Afp | Getty ImagesOne of the largest diamonds ever to be excavated was found in Botswana at a mine owned by Canadian firm Lucara Diamond.The 2,492-carat diamond is the world’s second-largest discovery and comes more than a century after a 3,106-carat gem was found in South Africa in 1905. That stone, known as the Cullinan Diamond, was cut into nine large pieces, many of which were incorporated into the British Crown Jewels.Lucara said on Wednesday that the gem…
United Airlines CEO Scott Kirby celebrates the opening of a new addition to its Flight Training Center in Denver, Colorado, on Feb. 22, 2024.Hyoung Chang | Denver Post | Getty ImagesUnited Airlines CEO Scott Kirby says he is optimistic about Boeing’s recovery after meeting with the manufacturer’s new chief executive.It’s an upbeat change of tune from the head of United, a top Boeing customer that has been among the most publicly frustrated about the plane maker’s problems, which have led to delayed deliveries of dozens of aircraft.Kirby and Boeing’s new CEO, Robert “Kelly” Ortberg, had lunch earlier this week in…
In this photo illustration an OpenSea logo is displayed on a smartphone with stock market percentages in the background.Omar Marques | Lightrocket | Getty ImagesCrypto marketplace OpenSea has been added to the SEC’s list of targets, as the regulator extends its crackdown on the sector.The company’s CEO said in a post on X on Wednesday that the U.S. Securities and Exchange Commission issued a Wells notice against OpenSea.A Wells notice is typically one of the final steps before the SEC issues formal charges. It generally lays out the framework of the regulatory argument and offers the potentially accused an opportunity to…
A shopkeeper arranges lanterns kept for sale ahead of the Diwali festival, the Hindu festival of lights in Mumbai on Nov. 8, 2023.Ashish Vaishnav | SOPA Images | LightRocket | Getty ImagesIndia’s economic growth slowed to 6.7% year-on-year in the April-June quarter as a decline in government spending during national elections weighed, data showed on Friday, but it remained the world’s fastest-growing major economy.The rise in gross domestic product was less than a 6.9% expansion forecast by a Reuters poll, and compared to 7.8% growth in the previous quarter.Still, it was faster than 4.7% growth in China, Asia’s biggest economy,…
JD.com set up an Innovative Retail division that houses its grocery business 7Fresh.Bloomberg | Bloomberg | Getty ImagesHong Kong-listed shares of Chinese online retailer JD.com climbed 1.2% on Wednesday, outperforming the decline on the Hang Seng index after the firm announced a $5 billion buyback late Tuesday.U.S. listed shares of the firm rose 2.24% on Tuesday after the announcement. Both JD.com’s Hong Kong and U.S. shares have dropped about 20% year to date.In comparison, Hong Kong’s benchmark Hang Seng index was down about 0.82% Wednesday, but is up about 4% for the year so far.Stock Chart IconStock chart iconThe announcement…
