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Domino’s Pizza’s CFO departs
Domino’s Pizza Inc. said late Wednesday that Chief Financial Officer Stuart A. Levy will be leaving the company “to pursue other opportunities.” Levy is stepping down as CFO immediately but will continue with Domino’s through the end of August as an adviser to ensure a smooth transition, the company said. Domino’s is searching for a new CFO and in the meantime Chief Executive Ritch Allison will oversee a newly established office of the CFO, with VPs from financial areas, until the new CFO is hired. Shares of Domino’s Pizza fell 0.9% after ending the regular trading day down 0.2%.
As bitcoin and dogecoin plummet, college students and graduates insist they’re going long on crypto and as the EU relaxes travel restrictions, American tourists still face these hurdles
By Andrew Keshner Happy Wednesday MarketWatchers. Don’t miss these top stories. It might take 60 days more to process returns left over from last year, according to the IRS commissioner’s ‘conservative estimate’ Read More No date has been given for the relaxation of existing measures. Read More ‘Monthly child care costs can feel like an [...]
Victoria’s Secret parent L Brands swings to quarterly profit as sales rise
Fewer promotions and higher margins boost Victoria’s Secret parent L Brands sales in the first quarter.
Emergent CEO says company made over 100 million doses of JJ vaccine, apologizes for contaminated batch
Emergent BioSolutions Inc. has made enough of a key ingredient to yield more than 100 million doses of Johnson Johnson’s Covid-19 vaccine, and federal health regulators are evaluating whether to release the shots, Emergent’s chief executive said.
The IRS backlog of 2019 tax returns keeps shrinking — but now for the bad news
It might take 60 days more to process returns left over from last year, according to the IRS commissioner’s ‘conservative estimate’
Why is crypto crashing? Will bitcoin prices ever recover? Here’s what traders and investors say
Bitcoin sold off sharply Wednesday. The slump represented an acceleration of a downtrend in the world’s No. 1 crypto that had begun over the past 10 days or so, investors and industry specialists have told MarketWatch.
Cisco stock drops as earnings outlook falls below Street consensus
Cisco Systems Inc. shares fell in the extended session Wednesday as the company’s earnings outlook fell short of Wall Street expectations while quarterly results topped the analyst consensus.
When was the last time you saw Paris? As the EU relaxes travel restrictions, American tourists still face these hurdles
No date has been given for the relaxation of existing measures.
Apple v. Epic: Top Apple engineer makes case for App Store security
Craig Federighi, senior vice president of software engineering at Apple, on Wednesday said major changes to the App Store, including its removal as the central place for software, “would subject iOS users to a huge decrease in their safety.”
Stocks fall but finish well above session lows after Fed minutes, crypto bounce
Stocks ended lower Wednesday, but well off session lows, as a selloff in crypto assets let up. The Dow Jones Industrial Average finished with a loss of around 164 points, or 0.5%, near 33,897, according to preliminary figures, after falling by more than 580 points at its session low. The SP 500 ended the day down around 12 points, or 0.3%, near 4,116, while the Nasdaq Composite saw a decline of around 4 points, or less than 0.1%, to close near 13,300. Early losses came amid a broad-based selloff for assets viewed as risky, including a plunge by digital assets that took bitcoin to a low near $30,000. The No. 1 digital asset bounced back to tarde above $40,000 in recent dealings, but remains down ore than 7% on the day. Minutes of the Federal Reserve’s latest policy meeting in April, released Wednesday afternoon, showed a number of policy makers aid it could be time soon to begin talking about talking about scaling back the central bank’s massive asset purchases.
Why China’s crypto crackdown helped spark a bitcoin crash — and could feed a backlash
China’s move to restrict crypto activity may have helped spark a broad selloff for digital assets. But the move, which appears aimed at bolstering the country’s own digital yuan efforts, could backfire, says one analyst.
Stocks pare losses in final hour of trade Wednesday but still notch 3-day losing streak
Nasdaq Composite ends wilds session virtually unchanged
Dow closes off 0.5%, SP 500 ends down 0.3%
Stock market stages dramatic comeback after Fed minutes but finish lower
As bitcoin and dogecoin plummet, college students and graduates insist they’re going long on crypto
If you’ve been waiting to say, ‘I told you so,’ to a young crypto investor, you may be waiting a while.
Why you should be worried now that investors are confident enough to buy and hold stocks
Experienced investors eye the exit when market timing is out of favor.
Fed minutes include some comments about potential future discussions of tapering
A number of Federal Reserve officials brought up the possibility that it might be appropriate for the Fed to begin talking about making a plan to scale back its asset purchases, according to the minutes of their late April policy meeting released Wednesday.
Molson Coors to quadruple hard seltzer production in Canada
Molson Coors Beverage Co. said Wednesday that it will increase hard seltzer production in its Canadian facilities by 300%, between owned and third-party facilities. “Hard seltzers are fairly new in Canada, but Vizzy and Coors Seltzer have already proven to be hits,” said Frederic Landtmeters, president of Molson Coors in Canada, in a statement. Molson’s hard seltzers launched in Canada in March. The production move is part of a $100 million investment in the hard seltzer business, and will mostly go towards the Toronto brewery, which should be producing hard seltzer by winter 2022. Molson expanded its U.S. hard seltzer production by 400% in 2020. Molson’s stock has climbed 21.7% for the year to date while the SP 500 index is up 9% for the period.
Oil futures log lowest settlement in more than 3 weeks
Oil futures declined on Wednesday, pushing prices to their lowest finish since late April, pressured by overall losses in the broader financial market, as traders digested the first weekly U.S. crude inventory rise in three weeks. West Texas Intermediate oil for June delivery fell $2.13, or nearly 3.3%, to $63.36 a barrel on the New York Mercantile Exchange, after trading as low as $61.95. Front-month contract prices marked their lowest finish since April 27, according to FactSet data.
June WTI oil loses $2.13, or nearly 3.3%, to settle at $63.36/bbl
Some Fed officials pointed to possibility of discussing QE taper plan at a future meeting if economy continued to make rapid progress: minutes
Two Fed officials pointed to risks inflation pressures could build to ‘unwelcome levels’ before new framework called for policy reaction: minutes
U.S. dollar up 0.2% at 109.10 Japanese yen
Euro down 0.3% versus dollar at $1.2186
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