Business category, Page 183
John Dorfman: 5 stocks that look good based on cash flow
If you were invisible, the perfect industrial spy, you could lurk in a company’s headquarters and watch every dollar coming in and going out. That would give you an excellent fix on the company’s cash flow. And cash flow, many investors believe, is a great measure of a company’s health....
Stocks rise broadly; Pfizer gains after FDA approves vaccine
Stocks notched gains Monday on Wall Street, pushing the Nasdaq composite to an all-time high and helping the S&P 500 more than make up for its losses last week. The S&P 500 rose 0.9%, after spending much of the day within striking distance of notching its own record high. The...
GM extends recall to cover all Chevy Bolts due to fire risk
GRAND RAPIDS, Mich. — General Motors said Friday it is recalling all Chevrolet Bolt electric vehicles sold worldwide to fix a battery problem that could cause fires. The recall and others raise questions about lithium ion batteries, which now are used in nearly all electric vehicles. Ford, BMW and Hyundai...
Pennsylvania jobless rate down, payrolls up 29K in July
HARRISBURG — Pennsylvania’s unemployment rate dropped to a new post-pandemic low and the labor force shrank in July as payrolls jumped by nearly 29,000, according to state figures released Friday. Pennsylvania’s unemployment rate dropped three-tenths of a percentage point to 6.6% from June’s adjusted rate, the state Department of Labor...
MLB to end 70-year partnership with Topps trading cards
Major League Baseball is ending a 70-year relationship with trading card company Topps after signing a new partnership with a rival company. The loss of the MLB partnership immediately scuttled a deal announced earlier this year that would have made Topps a publicly traded company. The special-purpose acquisition company Mudrick...
Stocks open slightly higher, still headed for a weekly loss
Stocks were slightly higher in morning trading Friday, but the gains were not enough to erase the market’s losses from earlier in the week. The S&P 500 index was up 0.6% as of 10:10 a.m. Eastern. The Dow Jones Industrial Average was 0.6% higher as well while the Nasdaq composite...
Another choppy day on Wall Street ends with indexes mixedVideo
Wall Street closed out another choppy day of trading Thursday, leaving the major stock indexes on pace for a weekly loss. The S&P 500 managed a 0.1% gain after having been down 0.7% in the early going. The Nasdaq composite also recovered to eke out 0.1% gain, while the Dow...
OnlyFans website to ban ‘sexually explicit’ content
OnlyFans, a site where fans pay creators for their photos and videos, is planning to ban “sexually explicit” content. The ban will start Oct. 1 and is the result of requests from banking partners and companies that handle financial transactions, a spokesperson said. Still, nudity is OK if it’s “consistent”...
Toys R Us making a comeback via Macy’s online and in stores
Macy’s said Thursday it is partnering with WHP Global to bring the Toys R Us brand to its website and stores. Shoppers can buy Toys R Us products online now. Next year, Macy’s said it will have Toys R Us shops inside more than 400 of its stores. “As a...
U.S. jobless claims hit a pandemic low as hiring strengthens
WASHINGTON — The number of people seeking unemployment benefits fell last week for a fourth straight time to a pandemic low, the latest sign that America’s job market is rebounding from the pandemic recession as employers boost hiring to meet a surge in consumer demand. The Labor Department reported Thursday...
Blower fans sold at Home Depot, Amazon recalled after they overheat, start fires
Intertex has recalled blower fans after the capacitor in some of them overheated and started fires causing thousands of dollars in property damage. The B-Air VP-33 blower fans were sold at Home Depot and Menard’s and online at Amazon and Home Depot, according to the U.S. Consumer Product Safety Commission....
Disney World tweaks face mask policy, optional for outdoors
ORLANDO, Fla. — Walt Disney World is tweaking its face mask policy. Starting Thursday, the theme park resort in Florida will allow visitors to choose whether or not to wear face coverings in outdoor lines, outdoor theaters and outdoor attractions. Masks had been required previously. Face coverings will remain optional...
Pennsylvania casino revenues top record $423M in July
Pennsylvania casinos generated more than $423.6 million in July, the highest monthly revenue total to date, according to state regulators. That was nearly $35 million more revenue than what was reported in June, which totaled $388.8 million. It also is significantly higher than revenues reported in July 2020, which reached...
Old Navy integrates its plus-size women’s business
NEW YORK —Gap Inc.’s low-price division Old Navy is overhauling its approach to how it designs and markets to plus-size women, a demographic that many analysts say has been underserved. Starting Friday, Old Navy will be offering every one of its women’s styles in all sizes with no price difference....
Pandemic pushed people to buy groceries online. How many will still get them delivered?
Jon Roesser, the general manager of Weavers Way Co-op, usually works with banks and suppliers to keep the grocery running, puts together the $34 million budget, or plans marketing promotions, like an upcoming sale on frozen shrimp. But as the demand for home deliveries exploded during the pandemic, Roesser became...
Spirit Air says canceled flights cost $50M, hurt bookings
Spirit Airlines said Monday the cancellation of more than 2,800 flights over an 11-day stretch this summer cost the budget airline about $50 million in lost revenue and caused spending to soar. The airline said the service meltdown that started in late July and a rise in covid-19 cases are...
Americans spent less in July as covid-19 cases surged
NEW YORK — Americans cut back on their spending last month as a surge in covid-19 cases kept people away from stores. Retail sales fell a seasonal adjusted 1.1% in July from the month before, the U.S. Commerce Department said Tuesday. It was a much larger drop than the 0.3%...
Walmart ups outlook as back-to-school sales take off
NEW YORK — Walmart is raising its sales outlook for the year as Americans returned to shopping for back-to-school clothes and travel goods during the fiscal second quarter. Still, concerns are mounting over spending in the months ahead as the delta variant of covid-19 surges across the U.S. and mask...
John Dorfman: Ben Graham might favor these 4 stocks if he were alive
Eighty-seven years after he published his seminal work, Benjamin Graham remains the patron saint of value investors. Graham – a hedge fund manager, Columbia University professor and author – believed that a stock’s price orbits its “intrinsic value” the way a planet orbits the sun. It may get further away...
S&P hits new record amid rising concerns about pandemicVideo
A choppy day on Wall Street ended Monday with the S&P 500 and Dow Jones Industrial Average notching new highs after recovering from an early slide. The indexes each rose 0.3%, extending their winning streak to a fifth day, while the Nasdaq fell 0.2%. Technology and health care stocks accounted...
U.S. agency opens formal probe into Tesla Autopilot system
DETROIT — The U.S. government has opened a formal investigation into Tesla’s Autopilot partially automated driving system after a series of collisions with parked emergency vehicles. The investigation covers 765,000 vehicles, almost everything that Tesla has sold in the U.S. since the start of the 2014 model year. Of the...
Ram pickups recalled; faulty side air bags can hurl shrapnel
Stellantis is recalling more than 266,000 pickup trucks mainly in North America because the side air bags can explode without warning and hurl shrapnel into the cabin. It’s the second major recall of pickup trucks in the past two months for the same problem. Stellantis, formerly Fiat Chrysler, says the...
‘Down, not out’: Latrobe’s Dainty Pastry Shoppe looks to rebound from fire likely sparked by lightningVideo
Authorities are speculating a fire Thursday night that gutted much of the Dainty Pastry Shoppe in Latrobe may have resulted from a lightning strike. “We won’t know for sure until we get in there. The State Police Fire Marshal is coming back Monday, but it looks as though the fire...
Limited production close for Lordstown, future still hazy
Lordstown Motors expects to begin limited production of its electric pickup truck next month, yet the future of the Ohio start-up remains hazy. In addition to this week’s announcement that the company, based just outside of Youngstown, aims to begin production in September, Executive Chairwoman Angela Strand said Lordstown also...
U.S. stocks eke out gains, leaving S&P 500 higher for the week
Stocks managed to eke out tiny gains after another day of wobbly trading, leaving the S&P 500 higher for the second week in a row. The benchmark index added 0.2% Friday, its fourth straight gain. The Dow Jones Industrial Average and the Nasdaq edged up less than 0.1%. Small-company stocks...
