The White House is battling recession fears as dire economic news emerges
WASHINGTON – White House officials have been increasingly trying to combat the narrative that the United States is on the brink of a recession as they look to get ahead of dismal economic data expected on Thursday. White House officials have been covering air waves during the past week, briefing journalists, publishing the blog publications and asking surrogates to amplify their message as they seek to highlight areas of strength in the economy amid mounting Republican attacks. “We’re not going to be in a recession,” Biden told reporters Monday. The White House acknowledged Wednesday that inflation is weighing on consumers,…
Read More »We seem to have entered an “economic recession”
Meta Platforms CEO Mark Zuckerberg speaks at Georgetown University in Washington on October 17, 2019. Andrew Caballero-Reynolds | AFP | Getty Images Meta Platforms CEO Mark Zuckerberg said on the company’s second-quarter earnings call Wednesday that the economy appears to be in a downturn that will hurt digital advertising, so Facebook’s parent company has to do more with less. The comments came after Meta, which runs ad-dependent social networks Facebook and Instagram, reported second-quarter earnings and revenue that fell short of analysts’ estimates. Social media rivals Snap and Twitter reported lower-than-expected quarterly results last week. “Engagement trends on Facebook have…
Read More »BARK to Announce First Quarter Fiscal Year 2023 Financial Results and Host Conference Call
NEW YORK–(BUSINESS THREAD)–BARK, Inc. (NYSE: BARK) (“BARK” or the “Company”), a leading global omnichannel brand for dogs and their people with a mission to make all dogs happy, today announced that it will file a fiscal first quarter 2023 financial results after the market closes on Tuesday, August 9, 2022. Management will host a conference call and webcast to discuss the company’s financial results at 4:30 p.m. ET. Those wishing to participate in the call may do so by dialing (888) 330-2120 or +1 646 960-0290 for international callers, conference ID 5515653. The conference call will also be available to…
Read More »Best Buy cuts sales forecast as inflation squeezes shoppers
Customers shop at a Best Buy store on August 24, 2021 in Chicago, Illinois. Scott Olson | Getty Images Best Buy on Wednesday cut its forecast for its fiscal year and second quarter, saying it has seen weaker demand for consumer electronics amid inflation. The consumer electronics retailer said it now expects same-store sales to decline about 13% in the current three-month period, which ends Saturday. That’s less than Best Buy said in May, when it predicted comparable sales would be roughly in line with the 8% decline in the first quarter. For the 12-month period ending at the end…
Read More »Inseego Corp. will release financial results for the second quarter of 2022 on August 8, 2022
SAN DIEGO–(BUSINESS THREAD)–Inseego Corp. (Nasdaq: INSG), a leader in 5G edge cloud solutions, will report financial results for the quarter ended June 30, 2022 on Monday, August 8, 2022. Inseego will host a webcast and conference call for analysts and investors at 5:00 PM ET on the same day. A question and answer session with analysts will be held directly following the prepared remarks. Inseego will provide a live audio webcast of the conference call, which will be accessible from the “Investors” section of the company’s website at http://investor.inseego.com. The webcast will be archived for a period of two weeks….
Read More »Vista Gold Corp. announces second quarter financial results and corporate update
DENVER–(BUSINESS THREAD)–Vista Gold Corp. (NYSE American and TSX: VGZ ) (“Vista” or the “Company”) today announced its unaudited financial results for the quarter ended June 30, 2022, highlighted by a cash position of 11.1 millions of dollars. All dollar amounts in this press release are in US dollars. Highlights of the second quarter Advancing the process with CIBC Capital Markets (“CIBC”) to seek a partner or other form of transaction to maximize shareholder value; Favorable results have been announced upon successful completion of the exploration drilling program at the Company’s 100% owned Mt Todd gold project (“Mt Todd” or the…
Read More »Sallie Mae releases financial results for the second quarter of 2022
NEWARK, Del.–(BUSINESS THREAD)–Sallie Mae (Nasdaq: SLM), formally SLM Corporation, today released financial results for the second quarter of 2022. Highlights of those results are included in the attached supplement. Full financial results are available at www.SallieMae.com/investors. Sallie Mae will host an earnings conference call tomorrow, July 28, 2022 at 8:00 AM ET. Executives will be available to discuss various highlights of the quarter and to answer questions related to Sallie Mae’s performance. A live audio webcast of the conference call and presentation slides can be accessed at www.SallieMae.com/investors and the hosting website a https://edge.media-server.com/mmc/p/thrzxufd. Participants may also register for the…
Read More »Cincinnati Financial: Second Quarter Earnings Summary
FAIRFIELD, Ohio (AP) _ Cincinnati Financial Corp. ( CINF ) reported a loss of $808 million in the second quarter on Wednesday, after reporting a profit in the same period a year earlier. Per share, the Fairfield, Ohio-based company said it had a loss of $5.06. Profits, adjusted for investment costs, came in at 65 cents per share. The insurer posted revenue of $820 million during the period. Its adjusted revenue was $1.97 billion. _____ This story was generated by Automated statistics (using data from Zacks Investment Research. Access to Zacks Stock Report on CINF at [ad_2] Source link
Read More »