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Stock market today: Stocks stay steady after bank failure

Published Fri, 07 Feb 2025 10:28:40 GMT

NEW YORK (AP) — The latest historic U.S. banking failure made few waves in markets, and stocks drifted Monday as Wall Street braces for what it hopes will be the last hike to interest rates for a long time. The S&P 500 was virtually unchanged after regulators seized First Republic Bank and sold off most of it in hopes of preventing more turmoil in the industry. It dipped 1.61, or less than 0.1%, to 4,167.87. The Dow Jones Industrial Average slipped 46.46, or 0.1%, to 34,051.70, and the Nasdaq composite fell 13.99, or 0.1%, to 12,212.60. First Republic has been in the spotlight for nearly two months on worries it could be next to topple following March’s failures of Silicon Valley Bank and Signature Bank. The worry was that runs on smaller- and mid-sized banks could take down the economy, like the financial industry’s woes during the 2008 crisis did. But analysts and economists have said they see big differences between then and now, including how the biggest U.S. banks are...

Chegg: Q1 Earnings Snapshot

Published Fri, 07 Feb 2025 10:28:40 GMT

SANTA CLARA, Calif. (AP) — SANTA CLARA, Calif. (AP) — Chegg Inc. (CHGG) on Monday reported first-quarter profit of $2.2 million.The Santa Clara, California-based company said it had profit of 2 cents per share. Earnings, adjusted for one-time gains and costs, were 27 cents per share.The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 26 cents per share.The provider of online textbook rental services posted revenue of $187.6 million in the period, also surpassing Street forecasts. Nine analysts surveyed by Zacks expected $185.3 million.For the current quarter ending in June, Chegg said it expects revenue in the range of $175 million to $178 million._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CHGG at https://www.zacks.com/ap/CHGGSource

85% of Mexican union contracts weren’t voted on by workers

Published Fri, 07 Feb 2025 10:28:40 GMT

MEXICO CITY (AP) — Mexico’s Labor Department said 85% of the country’s 140,000 officially registered labor contracts are in danger of being canceled because they failed to meet Monday’s deadline to have union members vote on them.Under labor reforms that helped win renewal of the U.S.-Mexico-Canada free trade agreement, starting in 2019 Mexico told unions with registered contracts they had to submit the labor pacts to secret-ballot votes by workers within four years.The small percentage of contracts meeting Monday’s deadline reflects what Mexican officials acknowledge has been the longstanding practice of labor leaders in negotiating contracts with little or no worker input to ensure wages are low so they can keep factories in Mexico.Only about 20,000 contracts complied and were confirmed by votes as of May 1, 2023, the deadline for doing so. The Labor Department said the remaining 120,000 will be nullified, unless those unions have scheduled votes between now and July 31. Tha...

JPMorgan Chase, KBR rise; Global Payments, Exxon Mobil fall

Published Fri, 07 Feb 2025 10:28:40 GMT

NEW YORK (AP) — Stocks that traded heavily or had substantial price changes Monday: ON Semiconductor Corp., up $6.37 to $78.33.The semiconductor components maker reported strong first-quarter financial results.Norwegian Cruise Line Holdings Inc., up $1.19 to $14.54.The cruise operator raised its profit forecast for the year.JPMorgan Chase & Co., up $2.96 to $141.20.The bank bought all of First Republic Bank’s deposits and most of its assets after regulators seized the troubled bank.Iveric Bio Inc., up $5.16 to $38.05.Astellas Pharma is buying the biopharmaceutical company for about $5.9 billion.KBR Inc., up $2.43 to $59.16.The engineering and construction company reported strong first-quarter profit and revenue.Park Hotels & Resorts Inc., up 25 cents to $12.30.The real estate investment trust beat Wall Street’s first-quarter financial forecasts.Global Payments Inc., down $9.71 to $103.CEO Jeffrey S. Sloan is stepping down from the electronics payment processing c...

Kennametal: Fiscal Q3 Earnings Snapshot

Published Fri, 07 Feb 2025 10:28:40 GMT

PITTSBURGH (AP) — PITTSBURGH (AP) — Kennametal Inc. (KMT) on Monday reported fiscal third-quarter net income of $31.9 million.On a per-share basis, the Pittsburgh-based company said it had net income of 39 cents.The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 34 cents per share.The engineered products maker posted revenue of $536 million in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $530 million.Kennametal expects full-year earnings in the range of $1.50 to $1.70 per share, with revenue in the range of $2.07 billion to $2.1 billion._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on KMT at https://www.zacks.com/ap/KMTSource

Lattice: Q1 Earnings Snapshot

Published Fri, 07 Feb 2025 10:28:40 GMT

HILLSBORO, Ore. (AP) — HILLSBORO, Ore. (AP) — Lattice Semiconductor Corp. (LSCC) on Monday reported first-quarter profit of $55.9 million.On a per-share basis, the Hillsboro, Oregon-based company said it had net income of 40 cents. Earnings, adjusted for stock option expense and pretax expenses, were 51 cents per share.The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 50 cents per share.The chipmaker posted revenue of $184.3 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $179.9 million.For the current quarter ending in June, Lattice said it expects revenue in the range of $183 million to $193 million._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LSCC at https://www.zacks.com/ap/LSCCSource

Avis Budget: Q1 Earnings Snapshot

Published Fri, 07 Feb 2025 10:28:40 GMT

PARSIPPANY, N.J. (AP) — PARSIPPANY, N.J. (AP) — Avis Budget Group Inc. (CAR) on Monday reported first-quarter profit of $312 million.On a per-share basis, the Parsippany, New Jersey-based company said it had profit of $7.72.The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $3.34 per share.The car rental company posted revenue of $2.56 billion in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $2.5 billion.Avis Budget shares have risen 8% since the beginning of the year. In the final minutes of trading on Monday, shares hit $177.22, a decrease of 34% in the last 12 months._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CAR at https://www.zacks.com/ap/CARSource

Colorado motorcycle deaths reached record high in 2022

Published Fri, 07 Feb 2025 10:28:40 GMT

DENVER (KDVR) -- Colorado's sunny climate has a downside, as walkers, motorcyclists and scooter riders are seeing record fatalities on the road. Is lane splitting legal in Colorado? The Centennial State had a record number of motorcycle crash fatalities last year, part of a three-year trend in rising crash numbers that began during the COVID pandemic and has yet to abate. Between 2019 and 2022, crash fatalities of all kinds have risen by 27%, with a record number of fatalities in 2022.The increase was particularly pronounced with two-wheeled and two-legged transport, though it rose across most categories of vehicle type. There were 149 motorcycle crash fatalities in 2022, the highest ever and about twice as many as 10 years ago. Pedestrian fatalities also reached a record high last year, with 111 across the state, up from 94 in 2021. Motorcycle crashes happen mainly in highly populated counties along the Front Range, including El Paso County with 25, Jefferson County with 19, Ada...

From a fog machine to a unicycle: Here were Uber's most unique forgotten items last year

Published Fri, 07 Feb 2025 10:28:40 GMT

DENVER (KDVR) -- If you've ever forgotten something in an Uber, you're not alone.In fact, the ridesharing app publishes an annual "lost and found" list that includes the most commonly forgotten items, as well as the most forgetful cities.There is also a list of what Uber dubbed the most unique items lost last year. Colorado motorcycle fatalities reached record high in 2022 Forgetting your phone or wallet in an Uber is one thing, but what if you forgot your fog machine or unicycle?Well, some riders did.The most unique items forgotten by Uber riders last yearMany of the most unique items could be considered highly sentimental to the riders that lost them, including a Danny DeVito Christmas ornament and paintings of a rider's wife.There were a few unique living things that riders forgot. Most were pets, such as turtles or hamsters, but one rider reported to Uber that they lost their girlfriend.One rider reported that they had lost "self-respect, mostly" in their Uber. Is it legal ...

Guide: How you can celebrate Mother's Day in Denver

Published Fri, 07 Feb 2025 10:28:40 GMT

DENVER (KDVR) — It's almost Mother's Day once again and as your May calendar fills up, there are plenty of ways you can celebrate that special lady in your life.FOX31 has put together a list of different activities in the Denver metro area on Mother's Day weekend. Eat, drink, be merryBruz Beers Mother's Day Beer and Cheese Pairing, Denver, May 15The Brown Palace Hotel & Spa Mother's Day Brunch, Denver, May 14Dazzle jazz club Mother's Day Brunch, Denver, May 14Jax Fish House and Oyster Bar Mother's Day Brunch, Denver/Boulder, May 14Lake House -Pelican Bay at Cherry Creek Mother's Day Brunch, Denver, May 14 The Maven Hotel at Dairy Block Mother's Day Brunch, Denver, May 14 Mizuna five course Mother's Day Brunch, Denver, May 14 Plot Twist Bakery Mother's Day Tea class, Lakewood, May 14The Post Chicken & Beer Mother's Day Brunch, Denver, May 12-14West End Tavern Mother's Day Brunch, Boulder, May 14 Casa Bonita will open in May, but when? Activities to get you movingArtisan Mar...