Foot Locker’s stock extends pullback from 4-year high ahead of earnings report

Shares of Foot Locker Inc. dropped 4.2% in afternoon trading, and were headed for a third straight loss, ahead of the athletic shoe and accessories retailer’s fiscal first-quarter report. The stock has now slid 10.2% since closing Monday at a four-year high of $65.82. The company is scheduled to report quarterly results before Friday’s opening bell, with the FactSet consensus estimates for earnings per share of $1.12, net sales of $1.90 billion and same-store sales growth of 53.7%. The stock has declined on the day earnings were reported the past two quarters by and average of 6.9%, and after six of the past eight reports, by an average of 10.0%, according to FactSet data. The stock gained an average of 4.7% the two times it rose after earnings. Foot Locker’s stock has rallied 46.1% year to date, while the SPDR SP Retail ETF has climbed 41.2% and the SP 500 has gained 10.8%.

July WTI oil settles at $61.94/bbl, down $1.41, or 2.2%

June WTI oil loses $1.31, or 2.1%, to settle at $62.05/bbl on its expiration day

ETF Wrap: Bitcoin miner or gold miner? Here’s where Wall Street winners put their bets

Every week we highlight the most timely exchange-traded fund news, from new launches to inflows and performance.

How to conquer loneliness and social isolation

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My father left me his estate, and his adopted children nothing. I don’t want to lose them. What should I do?

‘The sum is rather large, and I’m going to be asked at some point how much I inherited. I’m concerned that they will be jealous and resentful.’

Sysco provides in line profit outlook, sets $5 billion stock buyback program; stock sells off

Shares of Sysco Corp. sold off into negative territory in afternoon trading Thursday, after the company provided a profit outlook that was just in line with expectations, while setting a $5 billion stock repurchase program and boosting its dividend by 4.4%. The stock was down 0.9% in recent trading, after being up about 0.4% just before the announcement. The food product distribution company expects fiscal 2022 earnings per share of $3.23 to $3.43, surrounding the FactSet consensus of $3.33. The new repurchase program, which doesn’t have an expiration date, represents about 12% of Sysco’s market capitalization of $41.12 billion. The quarterly dividend increased to 47 cents a share from 45 cents, with the new dividend payable July 23 to shareholders of record on July 2. At current prices, the new annual dividend implies a dividend yield of 2.34%, compared with the implied yield of the SP 500 of 1.41%. Sysco’s stock has tacked on 8.3% year to date, while the SP 500 has gained 10.8%.

Fed will launch a broad discussion of a digital dollar this summer, Powell says

The Fed will launch a broad discussion later this summer with the public and Congress about the potential benefits and costs of a digital dollar, Fed Chairman Jerome Powell said Thursday.

Sysco sees fiscal 2022 adj. EPS $3.23-$3.43; FactSet consensus $3.33

Sysco raises quarterly dividend to 47 cents a share from 45 cents

Sysco set $5 bln stock repurchase program

Washington lawmakers want to bring back Build America Bonds. The muni market isn’t buying it

Washington lawmakers considering President Joe Biden’s $2.3 trillion infrastructure package are interested in reviving a program born out of the response to the last recession, even as the state and local governments it’s meant to help are much more cool on the idea.

Your next COVID test could be a dog’s sniff

A new type of Covid-19 test comes with four legs and a wagging tail.

Gold prices shake off early losses to tally a sixth straight gain

Gold futures gave up early losses Thursday to finish with a modest gain, up a sixth straight session. “Vagueness on tapering” in the minutes from the Federal Reserve’s April meeting, released Wednesday, and the Fed taking a “‘hawkish’ stance on interest rates, along with less concern for inflation than the Fed would historically take” contributed to gold’s rise Thursday, said Jeff Wright, chief investment officer at Wolfpack Capital. Gold may still move higher, but “will face resistance and profit taking above $1,900,” said Wright. June gold added 40 cents, or 0.02%, to settle at $1,881.90 an ounce, with prices eking out a sixth straight session rise, the longest streak of consecutive gains so far this year, according to FactSet data.

June gold gains 40 cents, or 0.02%, to settle at $1,881.90/oz

Cato stock surges toward 15-month high after swinging to profit, reinstating dividend

Shares of Cato Corp. leapt 10.1% toward a 15-month high in afternoon trading Thursday, after the fashion apparel and accessories retailer swung to a fiscal first-quarter profit on revenue that more than doubled, and said it will reinstate a quarterly dividend. The company reported before the open net income for the quarter to May 1 of $20.7 million, or 92 cents a share, after a loss of $28.4 million, or $1.19 a share, in the year-ago period. Total revenue jumped 111.5% to $213.1 million. Gross margin improving to 41.5% of sales from 15.4%, boosted by higher merchandising margins. Separately, the company said it will pay a quarterly dividend of 11 cents a share, payable June 21 to shareholders of record on June 7. The last time Cato paid a dividend was March 6, 2020, when it paid a quarterly dividend of 33 cents a share. At current stock prices, the annual dividend rate implies a dividend yield of 2.81%, compared with the implied yield for the SP 500 of 1.41%. The stock has rallied 63.2% year to date, while the SP 500 has advanced 10.8%.

Travelers are booking trips online again, but they mostly want the same thing: Not a hotel

As more people get vaccinated against COVID-19 and stay-at-home restrictions are lifted, there is little downside for online-travel companies — especially if they have a certain kind of inventory.

These energy stocks are expected by Wall Street to rise up to 37% over the next year

A growing economy has helped lift oil prices 31% this year.

Why retail gas prices might not have hit their high for the year

As Americans take to the road this summer, many will face the highest retail gasoline prices since 2014, potentially even paying more than $3.50 a gallon.

Apple v. Epic: Tim Cook to testify Friday

Apple Chief Executive Tim Cook is scheduled to take the stand Friday to wrap up Apple’s case in the 3-week-old antitrust trial with Epic Games Inc. Both sides will present their closing arguments on Monday before federal Judge Yvonne Gonzalez Rogers, who will decide the bench trial.

Age for a colonoscopy drops to 45 amid rise in colon cancer cases among younger adults

Adults ages 45-49 will become eligible for insurance that fully covers screening.

What is a minimony? Ariane Grande’s micro wedding gives engaged couples the luxury of thinking small

Couples say ‘I do’ to Zoom weddings and smaller ceremonies, cutting the cost — and stress — of wedding planning

Oatly skyrockets more than 30% as trading begins

Oatly Group AB ADR soared out of the gate, with shares opening at $22.12, 30.1% higher than the IPO price of $17. Oatly offered 84.4 million American Depository Shares. The stock retreated within minutes to a 26.5% rise, trading at about $21.30, which values the company at $12.6 billion. Oatly is a plant-based food company known for its oat milk, frozen dessert and “oatgurt” product. The company is backed by the private-equity group Blackstone Group as well as big-name celebrities like Oprah Winfrey and Jay Z. Lead underwriters for the IPO were: Morgan Stanley, JPMorgan, Credit Suisse, Barclays, Jeffries, BNP Paribas, BofA Securities, Piper Sandler and RBC Capital Markets. The Renaissance IPO ETF has fallen 9.7% for the year to date while the SP 500 index has gained 10.9% for the period.

8 best sunscreens for different skin needs, according to dermatologists

Whether you want everyday use, anti-aging, oil-free, light-feeling, active-friendly or other types of sunscreens, here’s what top dermatologists and skincare pros recommend.