All posts in Stock Market Updates

CHICAGO–(BUSINESS THREAD)–Jeffrey Corso has been named Chief Financial & Chief Administrative Officer of Automated Handling Solutions (AHS), responsible for the financial strategy and operations of Cablevey Conveyors and Spiroflow, two manufacturers in the specialized transport and material handling sector. AHS, the newest platform from Chicago-based private equity firm May River Capital, launched in April 2022 with the acquisitions of Cablevey Conveyors, a market-leading manufacturer of patented tubular drag conveyor systems for to food and beverage and high value industrial applications and Spiroflow. , a global material handling equipment manufacturer and control systems integration provider. “Jeff brings a strong track record…

The US played a key role in encouraging 136 countries to sign a global tax accord unveiled by the OECD last October and hailed as the most important tax reform in more than a century. But it has become clear in recent days that the way Washington intends to implement one of the two parts of the proposals, a corporate tax floor of 15 percent, is at odds with how the agreement works in other places. The simplified version of Joe Biden’s tax plans that were contained in the Inflation Reduction Act, the White House’s flagship economic legislation that narrowly…

Gzorgz | Stock | Getty Images “It was the best of times, it was the worst of times.” With these classic words, author Charles Dickens opened his historical novel “A Tale of Two Cities.” He could easily have been describing the stock market. A new Wells Fargo analysis looked at the best 20 days for the S&P 500 between August 1992 and July 2022. Nearly half, the investment bank found, occurred during a bear market. More from Personal Finance:What the Fed’s 75 basis point rate hike means for youWhat the latest rise in interest rates means for your savingsAlmost half…

Wall Street tech stocks fell on Tuesday after chipmaker Micron Technology warned of slowing consumer demand, raising concerns about the industry’s outlook. Shares in the US group fell nearly 5% after it said demand for chips used in personal computers and smartphones dampened customer spending. The warning added to bearish sentiment in the sector following disappointing results from peer Nvidia on Monday. The broader Philadelphia Semiconductor index fell more than 4%. Investor concerns about consumer demand dragged the Nasdaq Composite down about 1.5 percent in morning trading in New York and weighed on other global equity indexes. The US S&P…

A view of the Norwegian Encore cruise ship during its maiden voyage from PortMiami, which took place November 21-24, 2019. Orlando Sentinel | Tribune News Service | Getty Images Take a look at the companies making headlines in midday trading. Norwegian Cruise Line: Shares plunged nearly 12% on Tuesday after the company reported second-quarter results that missed Wall Street expectations and showed occupancy rates of just 65%, compared with more than 100% from the same quarter in 2019. In addition, the cruise line said it would not return to pre-pandemic occupancy levels until next year, and signaling losses will continue….

Although stocks have rallied from their most recent lows, they could have to fall further, according to Bank of America. “The S&P 500 is up 13% from June lows, but we think it’s premature to declare a ‘big low’ in the market and see room for more downside,” wrote ETF and investment strategist Jared Woodard in a note on Tuesday. Political Risks There are a few reasons why Bank of America isn’t so sure the recent rally will hold. First, looser financial conditions today will likely lead to tighter policy tomorrow, the note said. So far, only about 30% of…

Amazon’s acquisition strategy has become clear after its last two deals, according to DA Davidson. The e-commerce giant announced last week that it was acquiring Roomba maker iRobot for $1.7 billion. The news follows last month’s $3.9 billion acquisition of primary care provider One Medical. In both cases, Amazon is following its historic approach of “build first, buy second,” Tom Forte, senior research analyst at DA Davidson, wrote in a note. In other words, Amazon is acquiring companies after it has already started building those businesses in-house. It’s the same approach Amazon used with Whole Foods, Zappos and MGM, Forte…