“The public market is not appreciating Kohl’s in its current form,” Engine Capital, an activist fund, said in a letter to Kohl’s board of directors published Monday. “There is no excuse for the Board to cling to the status quo.” The firm, which has built up a 1% stake in […]
Finance
Stocks week ahead: Small companies are getting crushed
The Russell 2000 (RUT) index, home to companies like Crocs (CROX), BJ’s Wholesale (BJ) and others with an average market valuation of about $3 billion, is now trading more than 10% below its 52-week high. That means it’s in a so-called correction. An iShares exchange-traded fund of microcap stocks (IWC) […]
Jobs report: American employers added only 210,000 new jobs in November
It was the smallest number of jobs added to the US economy since December 2020, when the economy actually shed jobs amid a surge in Covid cases. Economists had expected more than double the number of jobs created in November, forecasting a continuation of the buoyant economic recovery over the […]
Premarket stocks: The Fed’s high-wire act just got even more perilous
What’s happening: Stocks fell sharply on Tuesday after Fed Chair Jerome Powell told Congress that plans to taper asset purchases by $15 billion each month may no longer be appropriate, and the central bank may need to move quicker. The S&P 500 and Dow both closed down 1.9%, while the […]
Premarket stocks: Investors want Omicron answers. They won’t get them yet
“We have to go through a couple of weeks yet of uncertainty,” Dr. Paul Burton, the chief medical officer for Moderna, told CNN’s Paula Reid on Sunday. The raft of unknowns spooked financial markets on Friday, when the Dow plummeted 905 points, or 2.5%, logging its worst day in over […]
Black Friday bounces back from 2020. Shoppers are out again
But customers are still dishing out more money for clothing, electronics and other items this Black Friday as they return to visit stores in person and keep up their spending online. Sales on Black Friday increased 29.8% from a year ago, according to estimates through 3 p.m. ET from Mastercard, […]
Germany’s minimum wage is going up by 25% to 12 euros
Three German political parties agreed to form a new government on Wednesday, with left-leaning Social Democrat Olaf Scholz set to succeed Angela Merkel as chancellor following lengthy coalition negotiations. As part of the coalition agreement, the country plans to raise its minimum wage to €12 ($13.46) an hour, from the […]
Premarket stocks: Jay Powell’s second Fed term could be tougher than his first
What’s happening: On Monday morning, Biden formally announced his intent to nominate Powell to a second four-year term, opting for continuity at an uncertain moment. Lael Brainard, Powell’s top rival for the job, will be tapped as vice chair. In the face of a once-in-a-century pandemic, Powell’s first term has […]
CVS had every advantage, but it lost the pandemic. Here’s what happened
Isn’t CVS doing really well right now? Haven’t lots of people gone to drug stores during the pandemic to stock up on hand sanitizer, cleaning wipes and toilet paper? What about all those Covid-19 vaccine shots CVS gives out? Actually, CVS’ closures shouldn’t come as a surprise. They are the […]
Premarket stocks: Macy’s stock, once left for dead, is roaring back to life
What’s happening: Once out of favor as mall closures rose and coronavirus restrictions kept people at home, department stores are finding love again on Wall Street. Kohl’s (KSS) shares popped 11% on Thursday after it reported earnings. The stock has rallied 54% this year. Shares of Dillard’s (DDS) have shot […]