Author: super@dmin
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The Ratings Game: Lululemon stock posts double-digit percentage loss on lower gross-margin view
Yoga clothing maker Lululemon ups revenue outlook but now expects gross margins to fall rather than rise as stock dips by roughly 10%.
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The Margin: Wells Fargo has fired a VP accused of urinating on a fellow passenger aboard a flight to New Delhi
Wells Fargo labels the reported incident “deeply disturbing.”
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Economic Report: Most of America thinks it’s a bad time to buy a home. Expect ‘continued decline in home sales,’ Fannie Mae says.
Home-buying sentiment in 2023 is glum, no thanks to high mortgage rates and home prices, according to a new survey.
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: SEC charges ex–McDonald’s CEO Easterbrook for making false statements relating to his 2019 ouster
U.S. securities regulator is also charging McDonald’s with public disclosure violations relating to Easterbrook’s separation agreement.
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: FTC wants to ban noncompete agreements. This man was forced to sign 4 noncompetes. ‘It just doesn’t feel right,’ he says.
Only a sliver of workers negotiate when presented with a noncompete agreement, one study said.
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Bond Report: Treasury yields bounce to begin week
Treasury yields bounce back from lowest levels since mid-December as investors monitor China’s reopening and await this week’s U.S. inflation data
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: European drugmakers including AstraZeneca pony up for U.S.-listed biopharmas
European drugmakers announced a trio of deals around a billion dollars each to buy U.S.-listed biopharmas at hefty premiums
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Futures Movers: Oil prices rebound on hopes for increased China demand
The rally in crude comes after both Brent and West Texas Intermediate fell more than 8% last week on worries about a global economic downturn.
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Need to Know: Powell won’t stop rate hikes until he ‘terrifies’ the wealthiest of investors, says this CIO
Our call of the day comes from a CIO’s chat with another CIO who says the Fed doesn’t think big investors haven’t seen enough of a scare.
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: U.S. subpoenas hedge fund dealings with Binance: report
U.S. hedge funds are being subpoenaed to hand over information of its dealings with cryptocurrency platform Binance as part of a federal investigation into potential money-laundering breaches at the crypto companies, the Washington Post reported over the weekend.