Billionaire Charlie Ergen’s decision to combine his two telecom companies in an all-stock deal sent their shares and bonds higher on Tuesday.
Metals Stocks: Gold prices slip for 2nd day as disappointing China trade data, Moody’s downgrades boost U.S. dollar
Gold futures settled lower for a second straight session on Tuesday as disappointing trade data from China, a credit rating warning for U.S. banks, and some weak corporate earnings resulted in some flight to the safety of the U.S. dollar and Treasuries.
: The shrinking American home: As demand rises, builders go smaller
Land and cost constraints are pushing builders to construct smaller, more densely packed homes, according to John Burns Real Estate Consulting.
Key Words: UPS blames ‘late and loud’ Teamsters talks for revenue miss, outlook cut
UPS cut its revenue and margin outlook as talks with the Teamsters led to volume diversion, and as tentative wage pact boost labor costs.
The Ratings Game: Tilray’s deal with AB InBev makes it a much bigger beer company — but beers with falling sales, analysts say
Tilray’s stock rocketed higher on Tuesday after the Canadian cannabis producer announced a deal to buy eight beer and beverage brands from Anheuser-Busch InBev.
: Bank asset quality, weaker profits spark Moody’s reviews and downgrades as it weighs potential 2024 recession
Moody’s says funding and profitability pressures will be more pronounced for banks that have allowed capital to decline.
Market Extra: Bank ETFs slide after credit downgrades, warnings rattle sector
Exchange-traded funds that buy bank stocks fall sharply after Moody’s cuts ratings on regional names and puts a handful of major players under review.
: Nvidia’s stock slips on introduction of new AI data-center CPU+GPU chip
Did you think Nvidia would let the lead AI data-center product of rival AMD go unanswered?
: The average American homeowner has nearly $200,000 in home equity, thanks to rising house prices
Homeowners’ equity hit $10.5 trillion in June, the fourth-highest month on record, Black Knight said.
: Used cars for less than $20,000 have ‘nearly vanished,’ study says
Used cars are slightly cheaper these days, but prices remain nearly 50% higher than in 2019 and people have fewer options than ever before of scoring anything for less than than $20,000.
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