Author: News Room

Check out the companies making headlines before the bell Tuesday.CarMax — Shares of the vehicle retailer soared 7% on the back of better-than-expected quarterly earnings. CarMax earned 44 cents per share, beating a Refinitiv forecast of 24 cents per share.Newmont — The stock lost 2.9% in early morning trading on news that Newmont raised its price proposal in its offer to acquire Australia’s Newcrest Mining for $19.5 billion, which is 16% higher than Newmont’s initial bid. If the deal goes through, it would further secure Newmont’s position as the world’s biggest gold producer. Upstart — Upstart fell about 2% after JPMorgan…

Over the last holiday season, I vacationed on a private island. Most people on the island, except for yours truly, were billionaires. Amid super-yachts and private jets, one stereotypical signifier of extravagant wealth was notably absent: designer logos. I was shocked that I did not see one luxury brand donned by any of the uber-rich people. While chatting up a fellow vacationer, the CEO of a high-end luxury brand, I asked if he was upset that his billionaire friends didn’t represent his brand. He said, “We don’t market to billionaires. They have nothing to prove and don’t buy our products.…

With yields north of 7%, closed-end funds (CEFs) should be a staple of every American’s portfolio. Especially when you consider that the vast majority of these funds pay dividends every single month. But the truth is, CEFs remain a niche product—only folks have taken the time to try them out realize what incredible income generators they are. (This is why I started my CEF Insider service: to bust the myths around CEFs and give members a selection of diversified funds they can use to build a retirement-changing income stream.) Why are CEFs still off most people’s radar? Mainly due to…

The number of initial public offerings (IPO) worldwide slumped in the first three months of 2023, according to research firm EY Club. Activity was especially weak in the UK, it said, while Asia Pacific dominated the global IPO landscape. There were just 299 IPO deals in total between January and March, EY Club data showed, down 8% year on year. And total proceeds dropped 61% from the corresponding 2022 period, to $21.5 billion. There was a notable decline in the valuations of technology companies, firms which have dominated IPO activity in recent years. High inflation, turbulence in banking and cryptocurrency…

WASHINGTON (Reuters) – Cameroon is working to boost export revenues to fend off a potential debt crisis and has relaunched talks with the U.S. to rejoin Washington’s flagship trade initiative with Africa, its economy minister said on Monday. The economic fallout from the COVID-19 pandemic and the subsequent global shocks provoked by the war in Ukraine have hit African countries hard, denting economic growth and aggravating their sovereign debt positions. The International Monetary Fund (IMF) forecasts that Cameroon, a Central African oil producer, will record 4.3% economic growth this year after it slumped to 0.5% in 2020. The Fund has…

ASTANA (Reuters) -Kazakhstan has started arbitration proceedings against companies developing its Kashagan and Karachaganak oilfields over $13 billion and $3.5 billion respectively in costs deducted as part of profit-sharing deals, its energy minister said on Tuesday. “I can only say these lawsuits have been filed in the interest of the people of Kazakhstan,” Energy Minister Almasadam Satkaliyev told reporters, declining to provide any further details about the claims. The offshore Kashagan field, one of the biggest discoveries in recent decades, is being developed by Eni, Shell (LON:), TotalEnergies, ExxonMobil (NYSE:), KazMunayGas, Inpex and CNPC. Eni, Shell and KazMunayGaz are also…

© Reuters. FILE PHOTO: The logo of Tyson Foods is seen in Davos, Switzerland, May 22, 2022. Picture taken May 22, 2022. REUTERS/Arnd Wiegmann/File Photo By Tom Polansek CHICAGO (Reuters) -About 150 employees of a Tyson Foods Inc (NYSE:) chicken plant in Arkansas went on strike on Monday for better treatment before the company shuts the facility, an organizer said. Tyson plans to close the plant in Van Buren, Arkansas, on May 12, eliminating jobs for 969 non-union employees, as it seeks to improve performance in its chicken business. Employees refused to work in part because Tyson said they would…

Treasury yields were little changed Tuesday morning as traders awaited the U.S. consumer-price index report on Wednesday. What’s happening The yield on the 2-year Treasury TMUBMUSD02Y, 4.007% was 4.012%, up slightly from 4.004% on Monday. The yield on the 10-year Treasury TMUBMUSD10Y, 3.424% advanced slightly to 3.424% from 3.414% Monday afternoon. The yield on the 30-year Treasury TMUBMUSD30Y, 3.630% was 3.634%, up slightly from 3.626% on Monday. What’s driving markets U.S. bond yields were initially softer on Tuesday after data from China showed consumer inflation falling.Yields then turned steady to slightly higher as the morning wore on, with traders awaiting…

The deep uncertainty that the COVID pandemic created in the workforce hasn’t waned. U.S. workers are struggling with inflation, burnout, and fresh waves of layoffs. This comes as people expect more from employers — more leadership, more urgency, more action, and better jobs. The public’s perspective is clear and consistent: companies need to prioritize their employees. In today’s unstable economic climate, worker wages and treatment are more important to Americans than ever. When it comes to creating U.S. jobs with strong wages, good benefits, safe environments and opportunities for upward mobility, a handful of companies lead the pack. Bank of America…

Visa Inc. V, +0.74% said late Monday it increased its board to a dozen members with the election of Pam Murphy, who is the chief executive of cybersecurity company Imperva Inc. Visa Chief Executive Ryan McInerney said in a statement that Murphy’s “extensive operational experience in technology, cybersecurity, international business operations and strategic planning will be invaluable to Visa as we accelerate our strategy to facilitate global commerce and money movement.” Visa shares rose less than 0.1% after hours, following a 0.2% rise to close the regular session at $226.43. Read the full article here