Gap Inc. Plunges 11% As It Downgrades First Quarter Sales Forecast
(Reuters) Shares of Gap declined more than 11% in premarket on Friday after the company said it expects sales in the first quarter to fall in the low to mid-teens…
Why Morgan Stanley Thinks Crypto Would Be Widely Used as Currency
(CoinDesk) Morgan Stanley strategists say growing partnerships between payment companies and physical stores would make digital assets widely accepted as a form of currency. The bank cited the recent partnership…
Dow Inc. Posts a 58% Jump in Q1 2022 Net Profit
(Dow) Chemical maker Dow Inc. net income was $1.57 billion or $2.11 per share in the first quarter of 2022, up from $991 million or $1.32 per share in the…
US Jobless Claims Fell by a Marginal 2,000 Last Week
Source: Department of Labor US jobless claims totaled 184,000 in the week ending April 16, down by 2,000 from the previous week. SPY is up +0.78%, DXY is down -0.08%.…
US Manufacturing Activity Weakens by 10 Points in April
(Philadelphia Fed) The diffusion index, gauging the current general activity in manufacturing in the US, fell by 10 points to 17.6, erasing most of the gains it made in March.…
American Airlines Jump 10% as Q1 2022 Revenues Hits $8.899B
(American Airlines) The shares of American Airlines rose more than 10% in premarket on Thursday after posting operating revenues of $8.899 billion, up from $4.008 billion in the prior year.…
United Airlines Expects to Turn a Profit in Q2 2022 as Q1 Rev. More Than Doubles
(United Airlines) United Airlines expects to return to profitability in the second quarter of 2022, projecting that the quarterly revenue will be the highest in the company’s history. In the…
Euro Area Annual Inflation Rises to 7.4% in March
(Eurostat) The annual inflation in the euro area was 7.4% in March, compared to 5.9% in February and 1.3% a year earlier. In the EU, the inflation hit 7.8% in…
Tesla Stock Jumps 7% After Earnings Top Estimates in Q1 2022
(Tesla) Tesla reported revenue of $18.76 billion in the first quarter of 2022, beating estimates of $17.80 billion. The revenue was 81% higher than the prior year. The company said…
Binance Announces Restrictions for Russian Accounts With Over 10,000 EUR
(Binance) Binance has announced a limit of services for nationals from Russia, natural persons residing in the country, or legal entities with crypto holdings of over 10,000 EUR. Binance says…
Meta’s WhatsApp-Enabled Payment Attracts Merchant Protests in Brazil
(FT) Meta’s target of the world’s-first payments service through an encrypted messaging app suffered a blow after talks with potential payment partners faltered. Negotiations between the payments group and Meta…
EIA Reports 8.0M Decline in US Crude Inventories
(EIA) The total crude oil stockpiles in the US was at an average of 413.7 million barrels in the week that ended April 15, down by 8.0 million barrels from…
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