Author: News Room

Nike stock crashed almost 20% after the company reported solid results for Q4 FY 2024, but offered weaker than expected guidance: The world’s leading sports apparel and footwear company said that it expects sales for FY 2025 to be down by about mid single digit. On a long-term basis, however, I think the sell-off creates an attractive opportunity for investors to buy a high quality franchise at bargain prices. In my view, Nike is poised to remain a winner in the sports industry, due to unparalleled brand strength, global market presence, and a best-in-class athlete endorsement strategy. As a function…

Our goal here at Credible Operations, Inc., NMLS Number 1681276, referred to as “Credible” below, is to give you the tools and confidence you need to improve your finances. Although we do promote products from our partner lenders who compensate us for our services, all opinions are our own. The interest rate on a 30-year fixed-rate mortgage is 7.000% as of May 31, which is 0.125 percentage points lower than yesterday. Additionally, the interest rate on a 15-year fixed-rate mortgage is 6.375%, which is unchanged from yesterday.  With mortgage rates changing daily, it’s a good idea to check today’s rate…

When you receive Social Security retirement benefits while working, you could run into one of the more complicated and confusing rules, the Social Security earned income limit, or earnings test. The rule exists because Congress historically discouraged people from working while receiving Social Security benefits. You can receive Social Security retirement benefits anytime beginning at age 62 without regard to whether you are retired. But at certain ages, if you’re receiving retirement benefits and your earnings exceed a limit, your retirement benefits will be reduced. Most people believe you lose Social Security benefits in those cases, but that’s not really…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Nike shares plummeted on Friday after the world’s largest sportswear maker by revenue warned that its sales would fall this year, rattling retail stocks from JD Sports to Foot Locker.Nike late on Thursday reported weaker than expected quarterly sales and lowered its outlook for the year ahead, projecting that revenue would fall by a mid-single-digit percentage amid a slowdown in demand. The earnings miss follows a protracted restructuring initiated by management in December, when it also suffered a steep stock drop after…

The First of Long Island (NASDAQ:FLIC) is a bank with nearly 100 years of history and is headquartered in Melville, New York. Its recent history has been marked by significant challenges mainly due to the rapid rise in the Fed Funds Rate. In fact, in early 2022 FLIC was trading at about $22 per share; today we are below $10 per share. This is a huge drop, which occurred among other things at a time when FLIC was already far from its all-time high of $31 per share at the end of 2017. Certainly, the TBV per share has stalled…

A federal judge on Tuesday rejected a $30 billion antitrust settlement under which Visa and Mastercard agreed to limit fees they charge merchants that accept their credit and debit cards. U.S. District Judge for the Eastern District of New York Margo Brodie in Brooklyn said she was unlikely to grant final approval to the settlement and therefore denied the request for preliminary approval made by a group of merchants made up primarily of small businesses.The settlement was opposed by many merchants and trade groups, including the National Retail Federation. Opponents argued that card fees would remain too high under the…

President Joe Biden’s income-driven repayment plan hit a legal snag this week after two federal judges blocked parts of it that were set to take effect next week.  The Biden Administration introduced the Saving on a Valuable Education (SAVE) plan after the Supreme Court struck down Biden’s student loan forgiveness plan. The White House said that the SAVE plan could lower borrowers’ monthly payments to zero dollars, reduce monthly costs in half and save those who make payments at least $1,000 yearly. Additionally, borrowers with an original balance of $12,000 or less will receive forgiveness of any remaining balance after…

Mortgage rates reversed course this week and headed north of 7% again, following several weeks of decline, according to Freddie Mac. The average 30-year fixed-rate mortgage was 7.03% for the week ending May 30, according to Freddie Mac’s latest Primary Mortgage Market Survey. That’s an increase from the previous week when it averaged 6.94% and up from 6.79% a year ago. The average rate for a 15-year mortgage was 6.36%, up from 6.24% last week and up from 6.18% last year.  The increase in borrowing costs comes as interest rate cuts fall further into the distance. The Federal Reserve reiterated its…

Roger Federer played 1,526 singles matches throughout his career and won nearly 80% of them. However, he recently revealed that he only won 54% of the individual points within those matches. To put it another way, one of the greatest tennis players of all time barely won over half the points he played throughout his storied career. Federer’s “It’s Only A Point” revelation came at his commencement address to Dartmouth’s 2024 graduating class and serves as a helpful reminder to investors: perfection is impossible. The stock market has had plenty of bad days and will have more. No plan, strategy,…

In a break from tradition, this year’s first presidential debate is being hosted by CNN, the cable news channel, rather than the non-partisan Commission on Presidential Debates.CNN has set out its own rules and format for the 90-minute showdown, which will air with just two commercial breaks.The candidates, whose microphones will be muted when they are not speaking, will be given two minutes for answers and one minute for rebuttals. Both candidates will appear behind a podium, and their positions on stage were determined by a coin flip — Joe Biden’s campaign won the coin toss and elected for the incumbent…