All posts in Stock Market Updates

NEW YORK–(BUSINESS THREAD)–Lazard Ltd (NYSE: LAZ) today announced that Mary Ann Betsch will join the company as Chief Financial Officer (CFO), effective October 3rd. He succeeds Evan L. Russo, who has served as CFO since 2017, and who became CEO of Lazard’s asset management business on June 1, 2022. “With more than two decades of relevant financial services experience, Mary Ann has the financial and strategic acumen, leadership skills and knowledge of our business to serve as our company’s CFO and to lead our finance team said Kenneth M. Jacobs, Chairman and Chief Executive Officer of Lazard. “She will enhance…

ELMER, NJ–(BUSINESS THREAD)–ELMER BANCORP, INC. (“Elmer Bancorp” or the “Company”) (OTC Pink: ELMA), the parent company of The First National Bank of Elmer (the “Bank”), announces its operating results for the three and six months ended June 30 of 2022. For the three months ended June 30, 2022, Elmer Bancorp reported net income of $509,000, or $0.44 per diluted average common share, compared to $530,000, or $0.46 per diluted average common share diluted during the three months ended June 30, 2021. For the six months. months ended June 30, 2022, net income was $820,000, or $0.71 per diluted average common…

Fears of a recession intensified further after data showed the economy contracted for a second straight quarter, making a strong case for defensive stocks for investors worried about slowing growth . GDP fell at an annualized rate of 0.9% in the second quarter after a 1.6% decline in the first three months of the year, hitting a widely accepted rule of thumb for a recession. Many on Wall Street believe it’s time to get defensive in the market in anticipation of corporate profits contracting. Defensive stocks tend to provide stable earnings and consistent dividends regardless of the state of the…

Content of the article Meta Platforms says it will no longer pay US news organizations to have their material appear on Facebook’s News tab as it reallocates resources in the face of the economic downturn and changing user behavior. Content of the article The company said Thursday that most people “don’t come to Facebook for news, and as a company it doesn’t make sense to overinvest in areas that don’t align with user preferences.” Meta, then called Facebook, launched the partnerships in 2019. The “News” section of Facebook’s mobile app only shows headlines, and nothing else, from The Wall Street…

Treasury Secretary Janet Yellen said Thursday that the US economy is in a state of transition, not recession, despite two consecutive quarters of negative growth. The recession, Yellen insisted, is a “widespread weakening of our economy” that includes substantial layoffs, business closings, strains on household finances and a slowdown in private sector activity. “That’s not what we’re seeing right now,” he said during an afternoon news conference at the Treasury. “When you look at the economy, job creation continues, household finances remain strong, consumers are spending and businesses are growing.” Those comments, however, came on the same day that the…

This is an opinion editorial by Ray Youssef, CEO of Paxful and co-founder of the Built With Bitcoin Foundation. Global wealth inequality is growing around the world. With inflation, conflict and the pandemic forcing many into extreme poverty, the top 1% are amassing more power than ever before. capturing almost 20 times more global wealth than the bottom 50%. And rising inflation is adding more fuel to the fire, with the U.S figures rising to 9.1%. While we’re all feeling its effects, many say lower-income households are feeling it the most, with tight budgets being hit by rising rent, gas…

Amazon shares rose more than 13% in extended trading Thursday after the company reported better-than-expected second-quarter earnings and an upbeat outlook. Here’s how the company did it: EPS: Loss of 20 centsIncome: $121.23 billion vs. $119.09 billion expected, according to Refinitiv Here’s how other key Amazon segments did during the quarter: Amazon Web Services: $19.7 billion vs. $19.56 billion expected, according to StreetAccountAdvertising: $8.76 billion versus $8.65 billion expected, according to StreetAccount Revenue growth of 7% in the second quarter beat estimates, bucking the trend among its Big Tech peers, which all reported disappointing results earlier Thursday. Apple, along with…

WASHINGTON (AP) – President Joe Biden on Thursday hailed a nascent Democratic package of climate, health care and tax initiatives as “a giant step forward” for the country as congressional leaders began voting on a bill campaign season law that they have presented as a big help for voters struggling with inflation. A day after Senate Majority Leader Chuck Schumer and conservative Sen. Joe Manchin stunned Washington by resurrecting components of a compromise many believed dead, early signs were encouraging for the party. After Schumer briefed Democratic senators on the 725-page measure, Sen. Chris Van Hollen, D-Md., said the reaction…