Cargo Shipowners Cancel Sailings as Global Trade Flips From Backlogs to Empty Containers

Ocean carriers are canceling dozens of sailings on the world’s busiest routes during what is normally their peak season, the latest sign of the economic whiplash hitting companies as inflation weighs on global trade and consumer spending. The October cancellations are a sharp reversal from just a few months ago, when scarce shipping space pushed … Read more

Ocean Shipping Rates Have Plunged 60% This Year

Freight rates on the main ocean trade routes are sinking during what is typically the industry’s peak season after cargo owners shipped holiday goods early and inflation dented consumer demand. The cost to ship a 40-foot container from China to the US West Coast now stands around $5,400 a box, down 60% from January, according … Read more

Walmart Inc. stock outperforms market on strong trading day

Shares of Walmart Inc. wmt, +1.46% rallied 1.46% to $134.48 Thursday, on what proved to be an all-around great trading session for the stock market, with the S&P 500 Index SPX, +0.30% rising 0.30% to 3,966.85 and the Dow Jones Industrial Average DJIA, +0.46% rising 0.46% to 31,656.42. This was the stock’s second consecutive day … Read more

Peloton (PTON) reports Q4 2022 losses mount

In this photo illustration the Peloton Interactive logo seen displayed on a smartphone screen. Rafael Henrique | LightRocket | Getty Images Peloton on Thursday reported widening losses and slumping sales for its fiscal fourth quarter as the connected fitness equipment maker attempts to win back investors with cost cuts and strategic shifts. The company’s shares … Read more

Gap (GPS) reports fiscal Q2 2022 results

An employee hands a customer a shopping bag at an Old Navy store in San Francisco. David Paul Morris | Bloomberg | Getty Images Gap Inc. on Thursday withdrew its financial outlook for the year after it swung to a net loss in the fiscal second quarter and its Old Navy chain continued to struggle … Read more

Nordstrom (JWN) reports Q2 2022 results

Shoppers leave a Nordstrom store on May 26, 2021 in Chicago, Illinois. Scott Olson | Getty Images News | Getty Images Nordstrom on Tuesday slashed its financial forecast for the full year as the department store chain faces a glut of inventory and slowing demand. The retailer’s lowered forecast came even as it reported fiscal … Read more

Weekly Recap: Retailer Results Show Diverging Impacts of Inflation — Market Insight

Commentary by Adam Clark and Adria Calatayud Results from big US retailers were in focus last week as investors assessed the impact of inflation on consumer spending and parsed the latest signals from the Federal Reserve. With the earnings season nearing its close, companies including Walmart Inc., Target Corp., Home Depot Inc., Lowe’s Cos. and … Read more

Giant Fund Sells Apple, Tesla, Microsoft Stock. It Bought Walmart.

Text size An Apple Store. PSP Investments cut its Apple position in the second quarter. Getty Images A giant Canadian pension recently made substantial changes in its US-traded investments. Public Sector Pension Investment Board cut positions in Apple (ticker: AAPL), Tesla (TSLA), and Microsoft (MSFT), and bought more Walmart (WMT) shares in the second quarter. … Read more

Walmart, Target, Cisco, Deere, Housing Data, and Other Things for Investors to Watch This Week

Text size Earnings season continues next week in what will be an action-packed stretch for retail stocks. Walmart spirit Home Depot report results on Tuesday, followed by Bath & Body Works , Lowe’s, Target, and TJX on Wednesday. Ross Stores wraps things up for the retailers on Thursday. On Wednesday, the Census Bureau also reports … Read more