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1 week ago | 
sherwood.news | Luke Kawa
Trump Media & Technology Group called on the US Securities and Exchange Commission to “immediately investigate” what the company alleges is “suspicious trading” relating to a massive short position in the stock by UK-based hedge fund Qube Research & Technologies.
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1 week ago | 
sherwood.news | Luke Kawa
The IPO environment has been bad enough for US banks, with tumultuous markets leading many companies to shy away from going public. Now, the head of a US congressional committee is asking JPMorgan and Bank of America to pull back from a big fee-generating opportunity on their books, alleging that the Chinese company in question — Contemporary Amperex Technology Limited, or CATL —develops products that have military and surveillance applications and has suppliers that utilize forced labor camps.
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1 week ago | 
sherwood.news | Luke Kawa
US President Donald Trump said that Fed Chair Jerome Powell is “TOO LATE AND WRONG,” adding that his “termination cannot come fast enough!” in a post on Truth Social this morning. The comments left no obvious, large imprint on financial markets. It’s a familiar critique from the president, who often castigated the Fed during his first term for, in his view, raising policy rates too much and continuing to run down bonds off its balance sheet (known as quantitative tightening) for too long.
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1 week ago | 
sherwood.news | Luke Kawa
US stocks slid, with tech leading the way down as chipmakers face additional curbs on what they can sell to China. Major indexes extended losses after Fed Chair Jay Powell reiterated the message that the central bank is in no hurry to respond to the hit to growth from tariffs because these levies will also put upward pressure on inflation. The S&P 500 ended down 2.2%, the Nasdaq 100 fell 3%, and the Russell 2000 gave back 1%.
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1 week ago | 
sherwood.news | Luke Kawa
On the conference call with analysts following its earnings report, United Airlines CFO Michael Leskinen unpacked how the carrier expects to still turn a solid profit even if the US economy enters a recession, in stark contrast to prior downturns:“While we’ve seen stability in demand for the past six weeks, we also recognize that there’s a real risk of the US economy going into a recession.
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1 week ago | 
sherwood.news | Luke Kawa
There’s a hidden message in United Airlines’ dual forecast that’s being celebrated by Wall Street. In this case, what’s not being said is speaking volumes. The management team at the airline provided two sets of guidance for this year: one for a “things stay the same, as we expected” outcome, and one in the event of a US recession. It leaves one wondering, if that’s the status quo and the bear case, what’s the bull case?
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1 week ago | 
sherwood.news | Luke Kawa
United Airlines’ better-than-expected earnings and dual forecast — one for a recession, one for a more benign backdrop — were initially resoundingly cheered by investors, sending shares as much as 5% higher in early trading on Wednesday. If the economy avoids a downturn, United Airlines thinks its initial full-year guidance of earnings per share between $11.50 and $13.50 is still realistic.
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1 week ago | 
sherwood.news | Luke Kawa
Nvidia CEO Jensen Huang, metaphorically tangled up in export curbs (Justin Sullivan/Getty Images)Shares of Nvidia are down more than 6% in premarket trading. Nvidia is down 6.5% premarket after warning it will take a $5.5-billion charge in its upcoming earnings report in light of the US government cracking down on sales of its H20 chip to China. The VanEck Semiconductor ETF is likewise down 3.8% this morning.
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1 week ago | 
sherwood.news | Luke Kawa
Major indexes gave up early gains after the European Union’s trade negotiator cited little progress or clarity in talks with the US. The S&P 500 finished down 0.2%, while the Nasdaq 100 eked out a 0.2% gain and the Russell 2000 ended up 0.1%. Most S&P 500 sector ETFs finished in the red, with tech, communication services, and financials delivering the best returns on the day. Netflix was one of the best performers in the S&P 500 after touting plans to double its revenues by 2030.
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1 week ago | 
sherwood.news | Luke Kawa
It was a double beat for Bank of America in the first quarter, sending shares higher in premarket trading. The bank reported diluted earnings per share of $0.90, eight cents above estimates, on revenues of $27.5 billion, which exceeded the consensus projection by nearly $600 million. Like peers JPMorgan and Goldman Sachs, trading revenues — particularly in equities — were a bright spot. For Bank of America, cost control underwhelmed, with non-interest expenses rising more than anticipated.
