CVS Health recently reported its first-quarter revenue and adjusted earnings, both of which failed to meet analysts’ expectations. The company also lowered its full-year profit outlook, attributing the downward revision to higher medical costs that are impacting the U.S. insurance industry. As a consequence, CVS’s stock plummeted by almost 18%, marking its worst day since
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On Wednesday, the U.S. stocks showed a mixed trend as Wall Street eagerly awaited the Federal Reserve’s next policy decision in the afternoon. Fed chief Jerome Powell was scheduled to deliver remarks during a press conference at 2:30 pm ET. Despite the expectations for the central bank to keep interest rates steady, traders were looking
The Art Institutes, once a giant chain of for-profit schools, have recently come under scrutiny for making “pervasive and substantial” misrepresentations to prospective students regarding post-graduation employment rates, salaries, and career services. This has resulted in the Biden administration forgiving over $6.1 billion in student debt for 317,000 former students who enrolled between Jan. 1,
New York Community Bank recently announced a significant quarterly loss of $335 million, a sharp contrast to the $2.0 billion in net income reported the previous year. The loss, amounting to 45 cents per share, stemmed from a surge in soured commercial loans and escalating expenses. However, despite the disappointing financial results, the bank’s stock
Johnson & Johnson recently announced that it plans to pay $6.5 billion over 25 years to settle the majority of the thousands of lawsuits in the U.S. alleging that its talc-based products led to ovarian cancer. This settlement, which is subject to approval by the claimants, aims to put an end to the financial and
In a time when mortgage rates are on the rise, many consumers are seeking ways to lower their monthly payments. This trend has led to an increased interest in adjustable-rate mortgages (ARMs). These loans typically offer lower initial interest rates compared to fixed-rate mortgages, making them an attractive option for some borrowers. However, ARMs come
After beating both top and bottom-line expectations, Amazon’s shares rose by nearly 2% in extended trading. The company posted earnings of 98 cents per share on $143.31 billion in revenue, surpassing the forecasted earnings of 83 cents per share on $142.5 billion. However, Amazon’s second-quarter revenue forecast fell short of estimates, signaling a potential slowdown
Super Micro shares experienced a significant decline of up to 15% in after-hours trading following the release of the company’s fiscal third-quarter results. While the server maker reported a slight revenue miss compared to expectations, it provided an optimistic outlook for its top-line performance moving forward. The company’s earnings per share came in at $6.65
In the realm of iconic TV sports theme songs, “Roundball Rock,” composed by John Tesh, stands out as the ultimate anthem for NBA games broadcasted on NBC until 2002. With NBCUniversal making a bid to acquire the NBA rights again, there’s a possibility that the memorable tune could make a comeback. The offer from NBCUniversal
The U.S. Department of the Treasury has just released an announcement stating that Series I bonds will now pay an annual interest rate of 4.28% from May 1 through October 2024. This rate, which is linked to inflation, represents a decrease from the previous 5.27% rate that was in effect since November. It is also