Month: August 2022

In private conversations, Sinema has expressed concern about key parts of the Democrats’ plan to pay for their climate and health care package: imposing a 15% tax floor on large corporations and taxing so-called carried interest, which would mean impose a new tax on hedge fund and private equity managers. But if Democrats bow to their demands, they could be facing a revenue shortfall of roughly $100 billion in a package that West Virginia Sen. Joe Manchin wants to ensure includes $300 billion of dollars in deficit savings. As a result, Democrats are scrambling to find new sources of revenue…

Stock futures were steady late Thursday as investors awaited Friday’s jobs report for further clues about the Federal Reserve’s rate hike path and the state of the economy. Dow Jones Industrial Average futures were little changed. S&P 500 and Nasdaq 100 futures were also flat. Economists expect 258,000 jobs were added in July, down from 372,000 in June, according to Dow Jones. Unemployment is expected to remain stable at 3.6%. The jobs report is released at 8:30 a.m. ET on Friday. “Investors will be waiting to see if the labor market can withstand the Fed’s rate hike campaign as well…

CHARLOTTE, N.C. (AP) _ Brighthouse Financial Inc . (BHF) reported second-quarter net income of $983 million on Thursday. The Charlotte, North Carolina-based company said it had net income of $12.77 per share. Earnings, adjusted for non-recurring gains, came in at $3.29 per share. The life insurance and annuity company posted revenue of $3.8 billion during the period. Its adjusted revenue was $2.08 billion, beating Street forecasts. Four analysts polled by Zacks were expecting $2.06 billion. Shares of Brighthouse Financial are down 18% since the start of the year. In the final minutes of trading on Thursday, the stock hit $42.50,…

LAS VEGAS (AP) _ Axos Financial ( AX ) reported fiscal fourth-quarter earnings of $57.9 million on Thursday. The Las Vegas-based company said it had a profit of 96 cents per share. Earnings, adjusted for one-time gains and costs, came in at $1.12 per share. The results beat Wall Street expectations. The average estimate of six analysts polled by Zacks Investment Research was for earnings of $1.02 per share. The bank holding company posted revenue of $211.3 million during the period. Its adjusted revenue was $192.5 million, which also beat Street forecasts. Five analysts polled by Zacks were expecting $180.8…

Jeffrey O’Connor is a senior execution consultant and market intelligence analyst for US equities at Liquidnet The recent increase in retail trade is important for the vitality of the capital markets and the pricetraining process. However, the market structure that underpins the elements of equity trading doesthey have also come under heavy criticism from these new entrants. This growing attention has given rise to theories about parts of financial markets that play a critical role in their efficient operation, but may be poorly understood. Every day, trillions of dollars in stocks change hands in global capital markets. These tradesthey come…

SHEPHERDSTOWN, W.Va.–(BUSINESS THREAD)–Jefferson Security Bank (OTC Pink: JFWV ) reported net income of $833,000 for the quarter ended June 30, 2022, a decrease of $173,000 or 17.2% compared to net income of $1.0 million for the quarter ended in June. 30, 2021. Diluted earnings per share were $3.02 for the second quarter of 2022, compared to $3.65 for the second quarter of 2021. For the six months ended June 30, 2022, the net income was $1.6 million, a decrease of $164 thousand or 9.2%, compared to $1.8 million for the same period in 2021. Diluted earnings per share were $5.89…

CARLSBAD, Calif.–(BUSINESS THREAD)–MaxLinear, Inc. (NASDAQ: MXL), a leading provider of RF, analog, digital and mixed-signal integrated circuits, today announced that it will participate in the following financial conferences during the third quarter of 2022: The 25th Annual Oppenheimer Technology, Internet and Communications Conference on August 9, 2022. MaxLinear’s virtual presentation is scheduled for 9:55 am ET. A webcast of the session will be available at https://investors.maxlinear.com. 3rd Annual Needham Virtual Semiconductor and SemiCap 1×1 Conference on August 24, 2022 Deutsche Bank Tech Conference on August 31, 2022 in Las Vegas Wells Fargo Leveraged Finance Conference on September 8, 2022 in…

CAMBRIDGE, Mass.–(BUSINESS THREAD)–Merrimack Pharmaceuticals, Inc. (Nasdaq: MACK) [(“Merrimack” or the “Company”)] today announced its second quarter 2022 financial results for the period ended June 30, 2022. “We are pleased to report continued reductions in operating expenses as we continue to focus on cash conservation to ensure we have sufficient financial resources to capture potential future payouts from Ipsen Pharmacology and Elevation Oncology,” he said. said Gary Crocker, Chairman of the Merrimack Board of Directors. “We will continue to monitor the progress of Ipsen’s Onivyde® (irinotecan liposomal injection) program and Elevation’s seribantumab program.” Financial results for the second quarter of 2022…