September’s existing home sales fell by 1.5 percent compared to August. It was the eighth consecutive month that home sales declined. In a year-over-year comparison, sales were down by 23.8 percent. According to the National Association of Realtors, previously-owned homes sold at a seasonally-adjusted annual rate of 4.71 million units....
On Wednesday, Proctor & Gamble (P&G) reported its fiscal first quarter 2023 earnings and revenue, which showed that the company exceeded estimates by Wall Street analysts. While the company has had to increase its prices due to higher manufacturing and supply costs, it has seen lower demand for its products,...
Kroger has agreed to purchase Albertsons for $34.10 a share, valuing the deal at $24.6 billion. It will increase Kroger’s dominance as it is already the second-largest grocery chain in the U.S. after Walmart. Albertsons is the fourth-largest. Together, the two supermarket chains employ over 700,000 workers in nearly 5,000...
According to information from the market intelligence firm International Data Corporation (IDC), demand fell for the personal computing industry during the third quarter. Personal computer shipments saw a 15 percent decline worldwide during the period. However, shipments are still higher than they were before the pandemic began. Global PC shipments...
Nintendo has moved forward with its previous announcement of offering a 10-for-1 stock split to attract new investors. On Thursday, the gaming company said it was reducing the price of individual shares and prices for the company’s stock split were reflected on the website of the Japanese Stock Exchange. The...
Costco reported on Thursday that its fiscal fourth-quarter earnings surpassed the expectations of analysts. The wholesale big-box retail store usually raises its membership fees about every five years or so, but since the company did so well during the last fiscal quarter, it’s keeping fees right where they are...
Boeing has agreed to settle charges with the Securities and Exchange Commission (SEC) over charges that it misled investors after two plane crashes involving its 737 MAX jetliners. The two crashes collectively killed 346 passengers and crew members. The jets were also grounded as investigators probed the accidents. The...
Ford Motor Company had its worst trading day in over 11 years on Tuesday, falling by 12.3 percent and closing at $13.09 per share. The lower share prices amounted to $7 billion of Ford’s market value being lost. Ford recently released part of its third-quarter financial report, warning investors...
Federal Express has withdrawn its full-year guidance amid much weaker first-quarter earnings and revenue. The company has announced that it is also cutting costs after the global volume of shipments was softer than expected. As part of its measures to slash expenses, FedEx plans to close 90 of its offices...
