CarMax’s Huge Earnings Miss Sends Warning Signal on US Consumer

(Bloomberg) — Already shaky market sentiment took a gut punch on Thursday after used-car dealer CarMax (NYSE:) Inc’s latest quarterly results laid bare the plight of US consumers stuck between high inflation and climbing interest rates.  CarMax’s fiscal second-quarter numbers failed to meet Wall Street’s expectations on nearly every metric. The company said the ability … Read more

Analyst Explains Why Bed Bath & Beyond Stock is Rallying Despite a Big EPS Loss By

© Reuters By Senad Karaahmetovic Bed Bath & Beyond (NASDAQ:) shares are up about 5% despite the company reporting worse-than-expected earnings for its second quarter. Bed Bath & Beyond a loss per share of $3.22, much worse than the analyst estimate that called for a loss per share of $1.80. Revenue for the quarter came … Read more

What to Expect from Micron’s Earnings Today By

© Reuters By Senad Karaahmetovic Micron Technology (NASDAQ:) is due to report FQ4 earnings after the market close today. Since the last earnings report in late June, as many as 5 analysts downgraded Micron shares to reflect the weakening macro environment. The latest downgrade came from a Mizuho analyst, who downgraded Micron stock from Buy … Read more

Porsche shares rise on first trading day in largest European listing for a decade

Frankfurt, Sep 29 (IANS) Porsche (F:) shares have risen on their first day of trading as the sports carmaker shrugged off a worsening global economy in a 75 billion euros stock market float, the largest European listing for more than a decade, the media reported. The shares were issued at 82.50 euros on the Frankfurt … Read more

Competition Commission approves Adani Power’s acquisition of Diliigent Power, DB Power

New Delhi, Sep 29 (IANS) The Competition Commission of India (CCI) on Thursday approved acquisition of 100 per cent share capital of Diliigent Power Private Ltd and DB Power Private Ltd by Adani Power (NS:) Ltd. The proposed combination involves acquisition of 100 per cent of the share capital and economic rights of Diliigent Power … Read more

Truist Securities Initiates Rivian with Buy Rating By

© Reuters By Michael Elkins Truist Securities initiated coverage of Rivian Automotive Inc (NASDAQ:) with a Buy rating and $65.00 price target. The electric vehicle company only just began delivering its first vehicles; however, the company has been strategically positioning, raising capital, and building out its vertically integrated ecosystem for over a decade. An analyst … Read more

Truist Initiates QuantumScape with Hold Rating By

© Reuters. By Michael Elkins  Truist Securities initiated coverage of QuantumScape Corporation (NYSE:) with a Hold rating and $10.00 price target. Truist believes that the electric vehicle battery developer is on the path to advance the “rapidly growing EV battery industry” with its proprietary solid-state technology. An analyst wrote “While we believe QS batteries could … Read more

Liquor shops likely to open shortly at domestic terminals of IGI airport

New Delhi, Sep 29 (IANS) Around two months after the liquor sale at the domestic terminals of the airport was stopped, the liquor shops are likely to restart soon at the terminals. As per an official, the airport authorities have offered the shops to the Delhi Tourism and Transport Development Corporation (DTTDC) to open liquor … Read more