All posts in Stock Market Updates

A months-long effort by Frontier Airlines to acquire Spirit Airlines ended abruptly Wednesday when the companies scrapped their proposal, breathing new life into a rival bid for Spirit by JetBlue Airways. The announcement came shortly before Spirit announced the results of a shareholder vote on Frontier’s takeover bid. Spirit had repeatedly delayed the vote as it sought to persuade shareholders to support the deal and ignore the appeal of JetBlue’s more valuable offer. The airline industry consolidated greatly in recent decades, creating four dominant airlines. For Frontier and JetBlue, buying Spirit has represented an opportunity to expand quickly and gain…

CHARLESTON – Five major financial institutions are now ineligible for state banking contracts because of their environmental policies, and are on West Virginia’s first list of restricted financial institutions. West Virginia State Treasurer Riley Moore announced Thursday that BlackRock Inc., Goldman Sachs Group Inc., JPMorgan Chase & Co., Morgan Stanley and Wells Fargo & Co. they are involved in boycotts of fossil fuel companies, according to a new state law and are no longer eligible to enter into state banking contracts with their office. A sixth company, US Bancorp, was initially identified as potentially involved in boycotts of energy companies,…

Profit warnings from UK-listed companies are soaring as inflation and labor shortages take their toll. The number of profit warnings issued by UK-listed companies in the first six months of 2022 rose by 66% compared to the same period in 2021, with a record number of companies citing the increase in costs as the reason for its warning, according to EY-Parthenon. the latest profit notices report. The report reveals that 136 profit warnings were issued in the first half of 2022, compared to 82 in the first six months of 2021. The findings come as private equity firms continue to…

It’s been a big week for economic news, most of which has been bad news for Democrats’ prospects in the midterm elections. Over the past few days, we have learned that consumer confidence is near an all-time low and that the United States is now in a technical recession. In addition, the Federal Reserve raised interest rates significantly on Wednesday, indicating that inflation remains a persistent, not transitory, concern for the central bank. Despite Democrats’ best efforts to shift the national conversation away from inflation and toward issues like abortion rights, gun safety and climate change, these recent developments make…

Stocks end in green; The Federal Reserve may slow rate hikes Last updated 4:15 PM EST Stock indexes ended today’s trading session strongly in the green after the Federal Reserve raised interest rates by 75 basis points. Jerome Powell stated that rate hikes will likely slow, which means the Federal Reserve may not be as aggressive as most had believed. The Dow Jones Industrial Average, S&P 500 and Nasdaq 100 rose 1.37%, 2.61% and 4.26%, respectively. The public services sector (XLU) was the laggard of the session as it rose just 0.08%. Instead, the technology sector was the leader of…