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Equities Strengthen in Early Trading

Stocks were cautiously higher in early trading Monday as attention turned to the Federal Reserve’s meeting this week and speculation over whether policy makers will hold rates, or offer clues about future cuts, while merger news drive some names well into the green. Communication services and real estate were the strongest performers on the Standard & Poor’s 500, both up […]

Chico’s Shares Rise Despite Lowering of Full-Year Sales Guidance

Chico’s FAS (CHS) shares popped more than 15% on Tuesday after the fashion retailer lowered its full-year sales guidance but posted better-than-expected fiscal first-quarter results. The Fort Myers, Fla.-based company, which also operates the White House Black Market and Soma brands, said it now expects a low to mid-single digit decline in total net sales and comparable sales in the […]

Chipmakers Lifting Tech Stocks to Outsized Advance

Top Tech Stocks IBM +3.05% AAPL +2.99% CSCO +2.39% MSFT +1.64% GOOG +1.61% Technology stocks were helping lead Tuesday’s equity market recovery, with the shares of tech stocks in the S&P 500 climbing 1.7% while the Philadelphia Semiconductor Index was rising 3.4%. Among technology stocks moving on news: (+) ASGN Inc (ASGN) climbed 6.6% after the IT staffing firm announced […]

Bond Prices Trim Gains, Equities Find Some Footing; Curve Inverts Deeper

US Treasury prices pared early gains after having shot higher Friday following a stampede to safety overnight after the US threatened to slap tariffs on Mexican goods. The latest kerfuffle adds to an already tense trade situation between the US and China, an array of European woes and weakening global data. The 2-year had a commanding lead on the rally […]

Proxy Advisory Firm ISS Backs Nominees from Bow Street for Mack-Cali Realty Board

Investment firm Bow Street, mired in a proxy fight with Mack-Cali Realty (CLI), said on Friday independent proxy advisory firm Institutional Shareholder Services (ISS) has recommended Mack-Cali shareholders to vote for Bow’s three nominees to the board at the shareholders’ meeting on June 12. “[Bow Street] has presented a compelling case that the replacement of several long-tenured directors with independent […]

Crude Heads for Worst Month in Six on Concern Worsening Global Trade Environment to Undermine Demand

Crude headed for the second week of declines in May as President Donald Trump’s threats to impose tariffs on Mexico, which is the largest recipient of US oil exports, added to concern that a worsening trade environment would undermine global energy demand. West Texas Intermediate crude futures fell by $1.94 intraday to $54.65, a 3.4% decline. Brent also fell, in […]

Zuora Touches Record Low After Guiding Q2, FY20 Revenue Below Street Views

Zuora (ZUO) Thursday night announced a non-GAAP net loss of $0.11 per share for its Q1 ended April 30, improving on a $0.29 per share adjusted loss during the same quarter last year and beating the Capital IQ consensus looking for a $0.13 per share normalized net loss. Revenue grew 22% year over year to $64.1 million, matching the Street […]

Palomar Completes Reinsurance Renewal, First Placement of Specialty Homeowners Facility

Palomar Holdings (PLMR), a specialty property insurer, said it has completed the renewal of reinsurance programs that will take effect June 1. The company renewed $470 million of its core reinsurance program, which includes its catastrophe bond, and purchased $200 million of incremental limit. The company’s reinsurance program provides coverage up to $1.05 billion for earthquakes, which will enable Palomar […]