Tag: Breaking news

2024-09-02

Intel shares up 8%, chipmaker working with Morgan Stanley

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Patrick Gelsinger, chief executive officer of Intel Corp., speaks during the Intel Innovation Taipei technology forum in Taipei, Taiwan, on Tuesday, Nov. 7, 2023.Intel last month predicted a return to sales growth in the fourth quarter, fueled by an improving personal computer market and a more competitive product line. Photographer: I-Hwa Cheng/Bloomberg via Getty Images I-Hwa Cheng | Bloomberg…

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2024-08-26

Intel has hired Morgan Stanley to defend against activists: sources

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A sign is posted in front of Intel headquarters on August 01, 2024 in Santa Clara, California.  Justin Sullivan | Getty Images News | Getty Images Intel is working with advisors including Morgan Stanley to help defend itself against activist investors, according to people familiar with the matter, as CEO Pat Gelsinger attempts to turn around the struggling chipmaker….

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2024-08-26

‘The time has come for policy to adjust’

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Federal Reserve Chair Jerome Powell laid the groundwork Friday for interest rate cuts ahead, though he declined to provide exact indications on timing or extent. “The time has come for policy to adjust,” the central bank leader said in his much-awaited keynote address at the Fed’s annual retreat in Jackson Hole, Wyoming. “The direction of travel is clear, and…

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2024-08-22

Nonfarm payroll growth revised down by 818,000, Labor Department says

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The U.S. economy created 818,000 fewer jobs than originally reported in the 12-month period through March 2024, the Labor Department reported Wednesday. As part of its preliminary annual benchmark revisions to the nonfarm payroll numbers, the Bureau of Labor Statistics said the actual job growth was nearly 30% less than the initially reported 2.9 million from April 2023 through…

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2024-08-19

Why Walgreens, CVS retail pharmacies are struggling

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The abundance of Walgreens and CVS Health stores makes them convenient for whenever Shriya Raghavan, a research associate based in Philadelphia, needs to pick up necessities like gum, deodorant and soap.  But she said she often has to wait for employees to unlock cabinets or stand in lengthy lines to pick up prescriptions as pharmacists juggle tasks. Those are…

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2024-08-10

Trump says he should get a say on Federal Reserve interest rate decisions

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Republican presidential candidate former President Donald Trump speaks during a press conference at his Mar-a-Lago estate on August 08, 2024, in Palm Beach, Florida.  Joe Raedle | Getty Images Republican presidential nominee Donald Trump on Thursday said that he should have a voice when the Federal Reserve makes its decisions on interest rates. “I feel the president should have…

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2024-08-09

Weekly jobless claims fall to 233,000, less than expected, in a positive sign for labor market

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Initial claims for unemployment insurance totaled less than expected last week, countering other signs that the labor market is weakening. First-time filings for jobless benefits came to a seasonally adjusted 233,000 for the week, a decline of 17,000 from the previous week’s upwardly revised level and lower than the Dow Jones estimate for 240,000, the Labor Department said Thursday….

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2024-08-09

Eli Lilly (LLY) earnings Q2 2024

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Eli Lilly on Thursday reported second-quarter earnings and revenue that blew past expectations and hiked its full-year revenue outlook by $3 billion as sales of its blockbuster diabetes drug Mounjaro and weight loss injection Zepbound spike. Shares of Eli Lilly closed more than 9% higher on Thursday. The drugmaker now expects revenue for the year to come in between…

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