Investors in the S&P 500 are highly dependent on the fate of Microsoft, Apple and other big technology stocks. A rally in March showed how this can mask turmoil in the rest of the market.
Category: Company Reports
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How the S&P 500 is Dominated By Apple and Microsoft
The New York Times – Business: -
People Bought Crocs During the Pandemic. They Haven’t Stopped.
The New York Times – Fashion & Style:While other brands that thrived with customers in quarantine have dropped off, sales of the easily slipped-on clogs are up nearly 200 percent since 2019.
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WeWork Reaches a Debt Restructuring Deal With SoftBank
The New York Times – Business:The agreement will reduce the unprofitable office space company’s debt, giving it more financial breathing room.
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An Indian tech company’s stock falls after it reveals a link to Silicon Valley Bank.
The New York Times – Business:Nazara Technologies, a mobile gaming company, said two of its subsidiaries had together more than $7.7 million in balances at the failed bank.
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Saudi Aramco Reports Record Profit as Fossil Fuels Remain ‘Essential’
The New York Times – Business:Saudi Arabia’s national oil company earned $161 billion last year, a nearly 50 percent jump over 2021, and said demand for oil would continue.
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Investors Fear a Recession Spurred by the Fed’s Inflation Fight
The New York Times – Business:Investors were alarmed at suggestions by Jerome Powell, the Federal Reserve’s chairman, that interest rates could go even higher in a bid to halt inflation.
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Adidas Wants to Move On but Still Has $1.3 Billion in Yeezy Sneakers
The New York Times – Business:After severing business ties with the rapper Ye, Adidas said it would cut its dividend and declared 2023 a “transition year.”
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Why Companies Are Pushing Premium Products With Higher Prices
The New York Times – Business:Companies are trying to maintain fat profits as the economy changes, making “premiumization” their new favorite buzzword.
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Retailers Lay Out a Downbeat Outlook as Inflation Squeezes Low-Income Shoppers
The New York Times – Business:Despite better-than-expected earnings, retail executives predict that any sales growth will be much smaller than in years past.
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Salesforce Faces Mounting Investor Pressure As Profits Sag
The New York Times – Business:The software giant faces mounting pressure from activist investors and pushback from employees unhappy about a wave of firings and the scaling back of office perks.
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Rivian Lost $6.8 Billion Last Year as Production Fell Short
The New York Times – Business:The maker of electric trucks said it expected to double production in 2023 as the supply of parts became more reliable.
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Berkshire Hathaway Reports Major Investment Losses in 2022
The New York Times – Business:After a $22.8 billion loss, Warren Buffett called the figure “100 percent misleading” and urged shareholders to focus on his empire’s overall health.