The wholesale prices of used vehicles in the United States have decreased for the first time this year, according to a report by Cox Automotive. The company’s Manheim Used Vehicle Value Index revealed a 3% dip from March to April, indicating a decline in demand. However, the index remains high compared to historical figures. It
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This week, the Securities and Exchange Commission (SEC) approved new rules aimed at increasing transparency and integrity regarding stock buybacks. The updated disclosures will require public companies to provide more information than ever before, enabling investors to better assess issuer buyback programs. SEC Chairman Gary Gensler noted that US corporate buybacks have grown significantly in
CVS Health released its Q1 results on Wednesday, with earnings and revenue surpassing expectations. However, the company lowered its full-year profit guidance due to the costs related to recent acquisitions. CVS shares fell more than 1% during premarket trading on Wednesday. Based on a Refinitiv survey, CVS Health’s earnings per share were $2.20 adjusted, compared
Kenvue, Johnson & Johnson’s consumer health business, is set to launch their IPO this week. The initial public offering will be the biggest in the US since November 2021. The IPO Details Kenvue is expected to sell more than 151 million shares at between $20 and $23 each. The company aims to raise approximately $3.25
Following the recent seizure of First Republic, a sharp selloff in regional banks resulted in Wall Street investors and analysts being caught off guard. The plunge comes amid a lack of new news, leaving banking experts looking for answers as to why this is happening. The orderly resolution of First Republic was supposed to quell
JPMorgan Chase CEO Jamie Dimon announced that the crisis leading to the downfall of three regional banks in recent weeks is over. The resolution of the First Republic marked the end of the crisis, according to Dimon. After regulators decided that the time had run out for a private sector solution, the Federal Deposit Insurance
The board of supervisors appointed by Florida Governor Ron DeSantis to oversee Walt Disney World’s operations has voted to sue Disney in response to the company’s recent federal lawsuit alleging a campaign of political retaliation by the governor. The panel, which had replaced a Disney-backed board weeks earlier, voted unanimously to authorize a lawsuit in
Top lawmakers who sit on key banking committees have praised the federal takeover of First Republic Bank and the successful sale of its assets to JP Morgan Chase. The sale of the bank’s assets has been viewed as a public-private collaboration to protect the US financial system. Rep. Maxine Waters, the top Democrat on the
BuzzFeed, known for its listicles and quizzes, has been struggling as a public company since it went public in December 2021. The company’s shares have fallen 95%, and its market valuation is currently at about $86 million. If a company’s stocks trade for 30 consecutive days below the $1 mark, Nasdaq will send the company
General Motors (GM) reported a strong first quarter, beating Wall Street’s earnings expectations and raising its guidance for 2023. However, since the announcement, GM’s stock has dropped by almost 6%, closing at $32.22, marking its lowest closing price since October. The stock is now down 26% from its 52-week high of $43.63 a share, and