(Reuters) -Costco Wholesale missed market expectations for fourth-quarter revenue on Thursday on cautious spending by budget-conscious customers at its membership-only stores, as well as an impact from lower gasoline prices.Shares of the company were down about 1% in extended trading. They have gained about 37% so far this year.While ultra-low prices on groceries and other kitchen staples is driving demand for essential products, consumer spending on big-ticket categories such as furniture, home and sporting goods has been choppy, hurting sales at Costco’s warehouses.The company also banks on demand for pricier goods such as patio furniture during the summer as well…
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Coastal Financial Corp (NASDAQ:CCB) CEO Eric M. Sprink recently sold a significant portion of his company stock, according to a new SEC filing. The transactions, which occurred over a span of two days, involved the sale of 4,103 shares at prices ranging from $51.56 to $51.93 per share, totaling approximately $212,698. The sales were conducted under a prearranged 10b5-1 trading plan, which allows company insiders to sell stocks at predetermined times to avoid accusations of insider trading. This plan is particularly useful for executives and directors who regularly have access to material non-public information, providing them a way to plan…
By Echo Wang (Reuters) – Wall Street’s main indexes ended higher on Thursday, with the scoring a record high, as a surge in Micron Technology (NASDAQ:) shares and a solid U.S. jobless claims report eased concerns about the labor market. Shares of Micron Technology rose after the memory chip maker projected first-quarter revenue above expectations, highlighting strong demand for memory chips used in artificial intelligence computing. The broader increased as most chip stocks rallied. A string of robust U.S. economic data eased concerns that the Federal Reserve may be cutting rates aggressively to curb any slowdown. Weekly jobless claims fell…
A says, “Instead of starting a mutual fund SIP, can I manually invest each month?” The answer might seem trivial to old investors, but it is worth clarifying for newbies.Ask any AMC person or mutual fund sales guy this question, and you will get an immediate no. Followed by something like, “An SIP is the best to inculcate discipline and invest regularly”.There is nothing wrong with a SIP or an automated way to buy units each month. But unless the investor appreciates risk and the true nature of market returns, they can (and do) quickly stop SIPs just as easily…
Amazon has joined a $180 million carbon credits deal aimed at preserving the Brazilian rainforest, aligning with five other companies through the LEAF Coalition forest conservation initiative.The initiative, founded in 2021 with support from companies and governments like the US and the UK, focuses on protecting the Amazon, the world’s largest rainforest and a critical player in absorbing greenhouse gases.This deal marks LEAF’s first agreement in the Amazon rainforest and was announced by Helder Barbalho, Governor of the northern Brazilian state of Pará, during New York Climate Week.The funds will be directed towards combating deforestation, benefiting indigenous communities, former slave…
(Reuters) – Alphabet plans to invest $3.3 billion in South Carolina to build two new data centers, CEO Sundar Pichai said, at a time when the Google parent and its rivals invest heavily in infrastructure supporting the development of AI applications.The search engine giant will establish the two new data center campuses in Dorchester County and expand its existing data center campus in Berkeley County, the South Carolina governor’s office said in a statement on Thursday.The new Dorchester County facilities, located in the Pine Hill Business Campus in Ridgeville and Winding Woods Commerce Park in St. George, represent a $2…
In a strategic financial move, Visa Inc (NYSE:). has injected $1.5 billion into its litigation escrow account, a recent 8-K filing with the Securities and Exchange Commission revealed. The deposit, made on Monday, is part of the company’s U.S. retrospective responsibility plan, which was designed to manage legal contingencies. The funding of the escrow account has a direct impact on the stock conversion rates between the company’s class B-1 and B-2 common stock and its class A common stock. The class B shares, primarily owned by U.S. financial institutions and their affiliates, will experience a dilution effect due to a…
Black, Hispanic and Latina women are more likely to have started investing in the past few years than investors overall, according to a new J.P. Morgan Wealth Management study. This is the third year J.P. Morgan has surveyed diverse investors to understand how the industry can better serve them. This year’s survey shows that growing wealth for future generations remains a main reason Black, Hispanic and Latina women start investing, and for the first time, analyzes the behavior of investors by age group. “Money brings independence,” said Kristin Lemkau, CEO of J.P. Morgan Wealth Management. “Consistently women, and in particular…
(Bloomberg) — Donald Trump’s lawyers are on a mission to wipe out his biggest financial liability — a nearly half-billion dollar civil fraud verdict in New York that’s soaring by more than $100,000 every day.Most Read from BloombergLawyers for the Republican presidential nominee asked an appeals court Thursday to toss out a $454 million penalty levied against Trump for exaggerating his wealth in banking documents to get better terms on loans. They argue the claims were filed too late by New York authorities and that “clear disclaimers” on Trump’s documents advised banks to do their own assessments of his wealth.“The…
Paylocity (NASDAQ:) Holding Corp (NASDAQ:PCTY) Vice President, Chief Accounting Officer, and Treasurer Nicholas Rost has sold a portion of his company stock, according to a recent filing with the Securities and Exchange Commission. The transaction, which took place on September 24, involved the sale of 132 shares of common stock at a price of $165.06 each, totaling over $21,787. The sale was conducted under an approved 10b5-1 Plan, a trading plan that allows insiders of publicly-traded corporations to set up a trading schedule for selling stocks they own. This plan was adopted by Rost on March 13, 2024, indicating that…