Sony Group Corp. shares 6758, +4.70% gained Friday morning after its third-quarter net profit beat analysts’ expectations and the company raised its fiscal year net-profit forecast. Shares were recently 4.8% higher at 12,045 yen ($93.58) after rising as much as 5.8% earlier. The company said Thursday after market close that net profit fell 5.6% from … Read more
Beyond Meat Inc. BYND, +19.15% is revamping its retail sales strategy to center on five major grocers and hiring a new marketing executive as part of an effort to reinvigorate the plant-based food maker’s business. The California-based company is orienting its retail business around Kroger Co. KR, -0.46%, Walmart Inc. WMT, -0.73%, Publix Super Markets Inc., Costco Wholesale Corp. COST, … Read more
A private gauge of China’s service-sector activity bounced back in January to expansionary territory, signaling a quick economic recovery following Beijing’s removal of its stringent COVID-19 containment regime in December. The Caixin China Services purchasing managers index rose to 52.9 in January from 48.0 in December, said Caixin Media Co. and S&P Global on Friday. … Read more
General Motors Co. GM, +5.60% electric vehicles will appear in some Netflix Inc. NFLX, +1.35% shows and films, which the companies said reflects “society’s increasing excitement about an all-electric future.” GM Global Chief Marketing Officer Deborah Wahl said in a press release that “we want to make EVs famous on streaming, small and silver screens … Read more
Activist investor Ryan Cohen is amassing a sizable stake in Nordstrom Inc. JWN, +5.86% and intends to urge the upscale department-store chain to make changes to its board following a steep share-price decline, according to people familiar with the matter. Cohen, known for helping ignite big rallies in so-called meme stocks including GameStop Corp. GME, +3.99%, is one of the top-five … Read more
In the early days of financial planning, advisers would assess a client’s attitude about risk. It was largely a subjective judgment. Nevertheless, their conclusion (or hunch) would guide their portfolio management decisions on behalf of that client. In addition to probing to determine a client’s tolerance for risk, advisers might consider one’s age, gender and … Read more
Just like last year, Wall Street strategists look pretty wrong about their expectations for stock-market performance in 2023. But this time around, they’re in the unusual position of having been too pessimistic. Back in December, MarketWatch collected year-end price targets for the S&P 500 from 18 investment banks and brokerage houses. Instead of following the … Read more
The tragic end of Dr. Mark Sawusch’s life all started in an ice cream shop in Venice Beach. On June 23, 2017, Sawusch — a brilliant, but troubled ophthalmologist who struggled with bipolar disorder — met Anton David and Anna Moore. It was a fateful encounter that would eventually lead to his death and the … Read more
Hi, MarketWatchers. Don’t miss these top stories. Death and deceit in Malibu: How yogi couple befriended and stole millions from vulnerable rich doctor Anton David and Anna Moore are accused of pretending to be caretakers for Dr. Mark Sawusch while really having an eye on his $60 million fortune. Read More ‘We are not visible, … Read more
Amazon.com Inc. reported its least profitable holiday quarter since 2014 on Thursday, leading to the biggest annual loss on record for the e-commerce giant, which also disappointed Wall Street with its forecast amid concerns about cloud growth. Amazon AMZN, +7.38% reported a holiday profit of $278 million, or 3 cents a share, down from $1.39 … Read more