U.S. stocks were higher in afternoon trade on Wednesday as the market built on a positive start to 2023 and as traders looked ahead to Thursday’s inflation report which may determine the size of the Federal Reserve’s next interest rate hike in February. How are stock indexes trading The S&P 500 SPX, +1.09% was up…
U.S. stocks were sharply lower in afternoon trade Thursday, more than erasing their gains from their biggest rally in three weeks after a round of upbeat economic data and a warning from hedge-fund titan David Tepper that he was “leaning short” against both stocks and bonds on expectations the Federal Reserve and other central banks…
GameStop Corp. reported its seventh consecutive quarterly loss after the market closed on Wednesday and highlighted its goal of returning to profitability in the near term, but analysts warn there are plenty of challenges ahead. “Throughout 2021 and 2022, we were extremely focused on repairing our decayed foundations,” said GameStop GME, +8.54% CEO Matt Furlong…
GameStop Corp. reported third-quarter results that missed analysts’ estimates as well as a revenue decline after the market close on Wednesday. GameStop GME, -4.83% said it lost $94.7 million, or 31 cents a share, in the third quarter, compared with a loss of $105.4 million, or $1.39 a share, in the prior year’s quarter. Adjusted…
Investors are waking up to big trouble in big China. Stock futures and oil prices are falling after angry anti-COVID zero protests swept the country. “This is a sudden powerful new distraction for markets when this week was supposed to be about incoming U.S. data,” sum up strategists at Saxo Bank. They say watch companies…
AMC Entertainment Holdings Inc. reported its 12th consecutive quarterly loss and revenue that topped analysts’ estimates after market close on Tuesday, sending shares lower in after-hours trading. The movie-theater chain and meme-stock phenomenon reported a third-quarter net loss of $226.9 million, or a net loss of 22 cents a share, compared with a net loss…
Large corporations’ seemingly ceaseless profit growth during the COVID-19 pandemic appears to be coming to an end this holiday season, as the post-lockdown rebound grates up against rising prices, recession fears and tough year-over-year comparisons. The S&P 500 index SPX, +1.36% is now expected to report a year-over-year earnings decline in the fourth quarter, after…
Meme stock GameStop has been on a wild ride in the last couple of years, but cash burn and lack of profitability loom large over the video game retailer. Last week GameStop Corp’s GME, +0.98% stock surged after the the company reported a narrower-than expected loss and also announced a partnership with cryptocurrency exchange FTX….
Shares of Bed Bath & Beyond Inc. BBBY, +6.25% soared Monday, to buck broad-market weakness for a second day, as meme-stock investors expressed optimism ahead of the home goods retailer’s strategic update. The stock rocketed 24.8% to close Monday at $13.35 while the S&P 500 index SPX, -0.36% slipped 0.7%. The stock shot up another…
Almost two years ago, during the first winter of the COVID pandemic, Roman Tirone was introduced to the world of meme stocks. “I think I had a couple of friends reach out about them to me and I took a look,” the New York City-based investor told MarketWatch. “There was a strong community that was…
AMC Entertainment Holdings Inc.’s stock fell more than 7% in extended trading on Thursday after the company announced a special dividend in the form of “Ape” preferred shares. The dividend marks the latest move in a fight over stock issuances. AMC Entertainment Holdings Inc. AMC, +2.47% has turned to the special dividend after it was unable…
AMC has experienced a rollercoaster couple of years that took the theater chain from beleaguered pandemic victim to meme stock phenomenon. So what’s next? AMC Entertainment Holdings Inc. AMC, +0.20%, which describes itself as the largest movie theater company in the world, operated 1,004 movie theaters pre-Covid. But the pandemic hit the company hard, forcing…
Shares of AMC Entertainment Holdings Inc. extended their recent rocket ride higher, with Tuesday’s rally fueled by the record-setting weekend box-office performance by “Top Gun: Maverick.” The stock AMC, +5.25% jumped 6.5% in midday trading, and have now soared 47.9% over the past four days. Just prior to the current win streak, the stock was…