Kohl’s shares took a steep nosedive, dropping over 20% in premarket trading after the company reported a surprising loss per share. This unexpected turn of events caught Wall Street off guard, as analysts had anticipated a slight profit. Specifically, the loss per share came in at 24 cents, in stark contrast to the expected 4
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The National Association of Realtors reported a significant drop in signed sales contracts on existing homes in April, signaling the slowest pace since April 2020. This decline in pending sales can be attributed to the surge in mortgage rates, impacting buyer behavior in real time. Sales were down across all regions of the country, with
Jim Chanos, a well-known short seller, recently faced accusations of embezzling funds for personal use. In response to these allegations made by a former investor, Chanos vehemently denied the claims, calling them “false, baseless, and defamatory.” He emphasized that the internal loan in question was paid off in 2021 and stated that he had invested
As many Americans approach retirement age, the question of financial stability becomes increasingly important. However, recent research from the Schwartz Center for Economic Policy Analysis sheds light on a concerning trend – unpaid student loans are placing millions of older individuals at risk of financial insecurity post-retirement. The study delves into the financial situations of
There has been a recent uproar regarding the price increases at McDonald’s, with many claiming that the fast-food giant has raised their prices by over 100%. However, Joe Erlinger, president of McDonald’s USA, recently released an open letter stating that the average price of McDonald’s menu items has only gone up by around 40% since
Nissan has recently issued a warning to owners of older vehicles equipped with Takata airbags that have been recalled but not yet repaired. The National Highway Traffic Safety Administration (NHTSA) made an announcement on Wednesday regarding the potential dangers associated with driving these cars. The “Do Not Drive” alert specifically applies to 83,920 cars, including
Stellantis, the multinational automotive company, has big plans to introduce a $25,000 all-electric Jeep vehicle in the U.S. market in the near future. This move is aimed at appealing to a wider range of mainstream consumers as the adoption of electric vehicles has been slower than expected. The CEO, Carlos Tavares, mentioned during a recent
The Delaware College of Art and Design recently made the difficult decision to close its doors due to low enrollment numbers for the upcoming school year. This closure was attributed in part to issues with the new Free Application for Federal Student Aid (FAFSA). The college’s president, Jean Dahlgren, acknowledged the long-standing challenges faced by
Cathie Wood’s ARK Invest has recently made a significant move by taking a stake in Elon Musk’s startup xAI, further solidifying her big bet on artificial intelligence. This investment by ARK Venture Fund demonstrates their confidence in the potential growth and impact of AI technology in various industries. In addition to xAI, ARK Invest has
The recent increase in mortgage rates has had a direct impact on mortgage demand in the market. After a slight decline in rates during May, there was a noticeable uptick in rates last week. This rise in rates was reflected in the average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances. The