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How major US stock indexes fared Monday 5/1/2023

Published Tue, 05 Nov 2024 10:56:33 GMT

Stocks drifted to a mixed close on Wall Street as investors braced for what they hope will be the last hike to interest rates for a long time. The S&P 500 closed virtually unchanged Monday as the latest historic U.S. banking failure made few waves in markets. Regulators seized First Republic Bank and sold off most of it in hopes of preventing more turmoil in the industry. Treasury yields rose amid firming expectations for the Federal Reserve to raise rates again later this week. Also coming later this week are earnings reports from several heavy hitters, including Apple.On Monday:The S&P 500 fell 1.61 points, or less than 0.1%, to 4,167.87.The Dow Jones Industrial Average fell 46.46 points, or 0.1%, to 34,051.70.The Nasdaq composite fell 13.99 points, or 0.1% to 12,212.60.The Russell 2000 index of smaller companies rose 0.22 points, or less than 0.1%, to 1,769.21.For the year:The S&P 500 is up 328.37 points, or 8.6%.The Dow is up 904.45 points, or 2.7%.The Nasdaq is up 1...

Viper Energy: Q1 Earnings Snapshot

Published Tue, 05 Nov 2024 10:56:33 GMT

MIDLAND, Texas (AP) — MIDLAND, Texas (AP) — Viper Energy Partners LP (VNOM) on Monday reported first-quarter net income of $34 million.On a per-share basis, the Midland, Texas-based company said it had net income of 47 cents. Earnings, adjusted for non-recurring costs, came to 53 cents per share.The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 26 cents per share.The oil and gas company posted revenue of $169 million in the period, also beating Street forecasts. Nine analysts surveyed by Zacks expected $167.4 million._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on VNOM at https://www.zacks.com/ap/VNOMSource

Stock market today: Stocks stay steady after bank failure

Published Tue, 05 Nov 2024 10:56:33 GMT

NEW YORK (AP) — The latest historic U.S. banking failure made few waves in markets, and stocks drifted Monday as Wall Street braces for what it hopes will be the last hike to interest rates for a long time. The S&P 500 was virtually unchanged after regulators seized First Republic Bank and sold off most of it in hopes of preventing more turmoil in the industry. It dipped 1.61, or less than 0.1%, to 4,167.87. The Dow Jones Industrial Average slipped 46.46, or 0.1%, to 34,051.70, and the Nasdaq composite fell 13.99, or 0.1%, to 12,212.60. First Republic has been in the spotlight for nearly two months on worries it could be next to topple following March’s failures of Silicon Valley Bank and Signature Bank. The worry was that runs on smaller- and mid-sized banks could take down the economy, like the financial industry’s woes during the 2008 crisis did. But analysts and economists have said they see big differences between then and now, including how the biggest U.S. banks are...

Chegg: Q1 Earnings Snapshot

Published Tue, 05 Nov 2024 10:56:33 GMT

SANTA CLARA, Calif. (AP) — SANTA CLARA, Calif. (AP) — Chegg Inc. (CHGG) on Monday reported first-quarter profit of $2.2 million.The Santa Clara, California-based company said it had profit of 2 cents per share. Earnings, adjusted for one-time gains and costs, were 27 cents per share.The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 26 cents per share.The provider of online textbook rental services posted revenue of $187.6 million in the period, also surpassing Street forecasts. Nine analysts surveyed by Zacks expected $185.3 million.For the current quarter ending in June, Chegg said it expects revenue in the range of $175 million to $178 million._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CHGG at https://www.zacks.com/ap/CHGGSource

85% of Mexican union contracts weren’t voted on by workers

Published Tue, 05 Nov 2024 10:56:33 GMT

MEXICO CITY (AP) — Mexico’s Labor Department said 85% of the country’s 140,000 officially registered labor contracts are in danger of being canceled because they failed to meet Monday’s deadline to have union members vote on them.Under labor reforms that helped win renewal of the U.S.-Mexico-Canada free trade agreement, starting in 2019 Mexico told unions with registered contracts they had to submit the labor pacts to secret-ballot votes by workers within four years.The small percentage of contracts meeting Monday’s deadline reflects what Mexican officials acknowledge has been the longstanding practice of labor leaders in negotiating contracts with little or no worker input to ensure wages are low so they can keep factories in Mexico.Only about 20,000 contracts complied and were confirmed by votes as of May 1, 2023, the deadline for doing so. The Labor Department said the remaining 120,000 will be nullified, unless those unions have scheduled votes between now and July 31. Tha...

JPMorgan Chase, KBR rise; Global Payments, Exxon Mobil fall

Published Tue, 05 Nov 2024 10:56:33 GMT

NEW YORK (AP) — Stocks that traded heavily or had substantial price changes Monday: ON Semiconductor Corp., up $6.37 to $78.33.The semiconductor components maker reported strong first-quarter financial results.Norwegian Cruise Line Holdings Inc., up $1.19 to $14.54.The cruise operator raised its profit forecast for the year.JPMorgan Chase & Co., up $2.96 to $141.20.The bank bought all of First Republic Bank’s deposits and most of its assets after regulators seized the troubled bank.Iveric Bio Inc., up $5.16 to $38.05.Astellas Pharma is buying the biopharmaceutical company for about $5.9 billion.KBR Inc., up $2.43 to $59.16.The engineering and construction company reported strong first-quarter profit and revenue.Park Hotels & Resorts Inc., up 25 cents to $12.30.The real estate investment trust beat Wall Street’s first-quarter financial forecasts.Global Payments Inc., down $9.71 to $103.CEO Jeffrey S. Sloan is stepping down from the electronics payment processing c...

Kennametal: Fiscal Q3 Earnings Snapshot

Published Tue, 05 Nov 2024 10:56:33 GMT

PITTSBURGH (AP) — PITTSBURGH (AP) — Kennametal Inc. (KMT) on Monday reported fiscal third-quarter net income of $31.9 million.On a per-share basis, the Pittsburgh-based company said it had net income of 39 cents.The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 34 cents per share.The engineered products maker posted revenue of $536 million in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $530 million.Kennametal expects full-year earnings in the range of $1.50 to $1.70 per share, with revenue in the range of $2.07 billion to $2.1 billion._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on KMT at https://www.zacks.com/ap/KMTSource

Lattice: Q1 Earnings Snapshot

Published Tue, 05 Nov 2024 10:56:33 GMT

HILLSBORO, Ore. (AP) — HILLSBORO, Ore. (AP) — Lattice Semiconductor Corp. (LSCC) on Monday reported first-quarter profit of $55.9 million.On a per-share basis, the Hillsboro, Oregon-based company said it had net income of 40 cents. Earnings, adjusted for stock option expense and pretax expenses, were 51 cents per share.The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 50 cents per share.The chipmaker posted revenue of $184.3 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $179.9 million.For the current quarter ending in June, Lattice said it expects revenue in the range of $183 million to $193 million._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LSCC at https://www.zacks.com/ap/LSCCSource

Avis Budget: Q1 Earnings Snapshot

Published Tue, 05 Nov 2024 10:56:33 GMT

PARSIPPANY, N.J. (AP) — PARSIPPANY, N.J. (AP) — Avis Budget Group Inc. (CAR) on Monday reported first-quarter profit of $312 million.On a per-share basis, the Parsippany, New Jersey-based company said it had profit of $7.72.The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $3.34 per share.The car rental company posted revenue of $2.56 billion in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $2.5 billion.Avis Budget shares have risen 8% since the beginning of the year. In the final minutes of trading on Monday, shares hit $177.22, a decrease of 34% in the last 12 months._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CAR at https://www.zacks.com/ap/CARSource

Colorado motorcycle deaths reached record high in 2022

Published Tue, 05 Nov 2024 10:56:33 GMT

DENVER (KDVR) -- Colorado's sunny climate has a downside, as walkers, motorcyclists and scooter riders are seeing record fatalities on the road. Is lane splitting legal in Colorado? The Centennial State had a record number of motorcycle crash fatalities last year, part of a three-year trend in rising crash numbers that began during the COVID pandemic and has yet to abate. Between 2019 and 2022, crash fatalities of all kinds have risen by 27%, with a record number of fatalities in 2022.The increase was particularly pronounced with two-wheeled and two-legged transport, though it rose across most categories of vehicle type. There were 149 motorcycle crash fatalities in 2022, the highest ever and about twice as many as 10 years ago. Pedestrian fatalities also reached a record high last year, with 111 across the state, up from 94 in 2021. Motorcycle crashes happen mainly in highly populated counties along the Front Range, including El Paso County with 25, Jefferson County with 19, Ada...