Zara owner Inditex on Wednesday posted a year-on-year rise in fourth-quarter sales that met expectations, even as the retailer pointed to a slowdown in demand at the start of the year.The Spanish retailer reported revenues of 11.21 billion euros [$12.2 billion] in the three-month period, matching the 11.2 billion euros forecast by LSEG analysts and up from the 10.34 billion euros recorded in the same period of last year.Fourth-quarter net income came in at 1.42 billion euros, also in line with analyst expectations.It follows a rare miss on sales and profit in the third quarter, which the company attributed partly to a stronger…
Author: usaeverydaylife
Check out the companies making headlines in midday trading. Nvidia — Stock in the chipmaker surged more than 6%, reversing course after several weak sessions. Shares slumped roughly 8% in March and are down 14% in 2025. Target — Stock in the retailer slipped about 3%, as the broader field of consumer defensive stocks took a leg lower on Wednesday. Peer retailer Walmart declined almost 2%. Crocs — The shoemaker advanced 3% on the back of Loop Capital’s upgrade to buy from hold. Loop said the stock has an attractive valuation, which provides an entry point for investors, amid recent…
Talen Energy could be set up for major gains over the next several months, according to Morgan Stanley. The firm initiated coverage on the power producer with an overweight rating and set its price target at $243. That implies more than 37% upside from Tuesday’s close. “The company operates the Susquehanna nuclear plant in PA and a fleet of 11 gas and coal plants, primarily in the mid-Atlantic market,” analyst David Arcaro wrote in a Wednesday note to clients. “The stock fits squarely into our broader thesis on powering AI: Talen’s nuclear plant offers highly valuable speed to market for…
Bloomberg | Bloomberg | Getty ImagesThe Federal Trade Commission asked a judge in Seattle to delay the start of its trial accusing Amazon of duping consumers into signing up for its Prime program, citing resource constraints.Attorneys for the FTC made the request during a status hearing on Wednesday before Judge John Chun in the U.S. District Court for the Western District of Washington. Chun had set a Sept. 22 start date for the trial.Jonathan Cohen, an attorney for the FTC, asked Chun for a two-month continuance on the case due to staffing and budgetary shortfalls. The Trump administration, with the help of…
Tesla CEO Elon Musk looks on as US President Donald Trump speaks to the press as they stand next to a Tesla vehicle on the South Portico of the White House on March 11, 2025 in Washington, DC. Mandel Ngan | AFP | Getty ImagesTesla shares rose for a second straight day in early trading Wednesday after the stock recorded its worst day since 2020 earlier in the week.Shares were last up 8%, building on a 3.8% gain from Tuesday.The electric vehicle stock plunged 15.4% on Monday for its worst session since September 2020 as investors sold popular technology shares and…
After hours of negotiations that ended with Ukrainian officials acquiescing to a proposed 30-day cease-fire with Russia, it was not until the flight home that they received the news they most wanted to hear: American military assistance was flowing again.“I will only say that there is no better reward for such a crazy day than to learn, while already sitting on the plane, a short dry confirmation” that military aid had restarted, Heorhii Tykhyi, a spokesman for Ukraine’s foreign minister, wrote on social media after talks with U.S. officials in Saudi Arabia.The resumption of U.S. weapons deliveries and intelligence sharing…
Eggs for sale at a grocery store in Los Angeles on Feb. 26, 2025.Eric Thayer/Bloomberg via Getty ImagesInflation receded in February on the back of easing price pressures for consumer staples like gasoline, groceries and housing, amid worries that President Donald Trump’s tariff policies could stall progress.The consumer price index rose 2.8% for the 12 months ended in February, the U.S. Bureau of Labor Statistics reported Wednesday. That’s down from 3% last month.The deceleration is encouraging after fears in recent months that inflation had become entrenched and wasn’t falling back to target.”Progress is bumpy,” said Michael Pugliese, senior economist at…
Goldman Sachs is getting worried about the stock market and the economy, so the firm is giving clients strategies to ride out these coming turbulent times. The investment bank lowered its 2025 year-end S & P 500 target to 6,200 from 6,500 in a research note on Tuesday. The downgrade comes as the S & P 500 has fallen 9% from its all-time high in the last three weeks. More than half of this pullback has come from a 14% decline in Magnificent Seven stocks, according to chief U.S. equity strategist David Kostin. “The key market risk going forward is…
Heavily shorted companies such as CrowdStrike and beaten-down Advanced Micro Devices could pop if the market manages a rebound, according to Evercore ISI. Fears that President Donald Trump ‘s trade policies could spike inflation and slow growth, leading to stagflation, have spurred the recent market sell-off as investors attempt to de-risk and find safer growth opportunities. “The uncertainty has ripped through the ‘soft’ data, begun to infect the ‘hard’ data and has resulted in a virtual ‘straight line plunge’ in the S & P 500, largest correction in two years,” Evercore ISI senior managing director Julian Emanuel said in a…
In this photo illustration, the Spotify music app is seen on a phone on June 04, 2024 in New York City.Michael M. Santiago | Getty ImagesSpotify is minting music millionaires.Nearly 1,500 artists generated over $1 million in royalties from Spotify in 2024, the company said Wednesday in its annual Loud and Clear Report.Spotify said more than 80% of the artists in that pool didn’t have a song reach the app’s Global Daily Top 50 chart. To reach that million-dollar threshold, an artist would need to have around 4 to 5 million monthly listeners, or 20 to 25 million monthly streams.”Spotify…
