Business

US jobless claim applications rise to 200,000 but remain historically low despite economic headwinds

Thursday, May 7 by SRN News

WASHINGTON (AP) - U.S. jobless claim applications rose last week but remain at historically low levels despite elevated inflation and other economic headwinds. The number of Americans filing for unemployment benefits in the week ending May 2 rose by 10,000 to 200,000, the Labor Department... Read More.

Emirates CEO says jet fuel costs ‘well hedged’ through 2029

Thursday, May 7 by SRN News

FRANKFURT, Germany (AP) - Emirates airline group has hedged its exposure to higher jet fuel prices for the next three years and has secured enough supply to meet current and future needs, its CEO said Thursday as the company reported record annual profit. "From a... Read More.

Kenvue beats first-quarter estimates amid pending acquisition by Kimberly-Clark

Thursday, May 7 by SRN News

May 7 (Reuters) - Tylenol-maker Kenvue on Thursday beat Wall Street estimates for first-quarter revenue and profit helped by strong sales in its skin health and beauty brands. The consumer health company, currently in the midst of a $40 billion buyout by Kimberly-Clark, expects the... Read More.

Americold forms cold storage joint venture with investment firm EQT

Thursday, May 7 by SRN News

May 7 (Reuters) - Americold Realty Trust said on Thursday it has formed a joint venture with investment firm EQT's Active Core Infrastructure fund that would focus on cold-storage warehouses in North America. Under the deal, the temperature-controlled warehouse operator will contribute 12 cold storage... Read More.

Shake Shack swings to quarterly loss, names new CFO; shares fall 20%

Thursday, May 7 by SRN News

May 7 (Reuters) - Fast food chain operator Shake Shack on Thursday swung to a quarterly loss and missed revenue estimates, sending its shares down 20% in premarket trading. The company also named Michelle Hook as its new CFO, effective May 11. Shake Shack reported... Read More.

Citigroup bets on CEO Fraser’s overhaul to aim for 11% to 13% profitability

Thursday, May 7 by SRN News

May 7 (Reuters) - Citigroup is targeting an adjusted return on tangible common equity of 11% to 13% for 2027 and 2028, the bank said on Thursday, betting on CEO Jane Fraser's overhaul to drive stronger profitability. The new targets compare with Citi's ambition... Read More.

Papa John’s misses quarterly results estimates as living costs soar

Thursday, May 7 by SRN News

May 7 (Reuters) - Papa John's International missed expectations for first-quarter revenue and profit on Thursday as the pizza chain failed to draw diners, especially in its U.S. market, at a time when consumers struggle with high living costs. Shares of the company fell about... Read More.

S&P 500, Nasdaq futures hit records as oil extends losses

Thursday, May 7 by SRN News

May 7 (Reuters) - S&P 500 and Nasdaq futures hovered near all-time highs on Thursday as oil prices retreated further on hopes of a U.S.-Iran peace deal that could potentially normalize crude supplies through the Strait of Hormuz. The United States and Iran are edging... Read More.

Doordash shares jump after strong quarterly forecast on food, grocery delivery demand

Thursday, May 7 by SRN News

May 7 (Reuters) - Doordash shares jumped 11% in premarket trading on Thursday, as demand for its food and grocery services helped the company forecast strong total order value for the second quarter despite concerns over higher gas prices. The delivery platform has ramped up... Read More.

Morning Bid: Chip frenzy goes global

Thursday, May 7 by SRN News

By Mike Dolan May 7 (Reuters) - What matters in U.S. and global markets today By Mike Dolan, Editor-at-Large, Finance and Markets The chip boom goes on, with Asia seeing rolling catchups to this week's tech surge as markets there return from holidays. Wednesday was South... Read More.

Current Weather

US jobless claim applications rise to 200,000 but remain historically low despite economic headwinds

Emirates CEO says jet fuel costs ‘well hedged’ through 2029

Kenvue beats first-quarter estimates amid pending acquisition by Kimberly-Clark

Americold forms cold storage joint venture with investment firm EQT

Shake Shack swings to quarterly loss, names new CFO; shares fall 20%

Citigroup bets on CEO Fraser’s overhaul to aim for 11% to 13% profitability

Papa John’s misses quarterly results estimates as living costs soar

S&P 500, Nasdaq futures hit records as oil extends losses

Doordash shares jump after strong quarterly forecast on food, grocery delivery demand

Morning Bid: Chip frenzy goes global

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