Shares of Stitch Fix (SFIX), the online style service, are up 30% following a strong earnings report:
- The stock is now up a whopping 104% from the beginning of the year.
By CNN Business
From CNN Business' Jordan Valinsky
Shares of Stitch Fix (SFIX), the online style service, are up 30% following a strong earnings report:
From CNN Business' Seth Fiegerman and Heather Kelly
Larry Page personally awarded a $150 million stock grant to Android creator Andy Rubin despite an ongoing investigation over allegations of his sexual misconduct, a lawsuit claims.
Page, Google’s cofounder and the CEO of its parent company Alphabet, is said to have made the decision on his own, without the approval of the board, and “only later sought the rubber-stamp” of the board’s compensation committee, according to a revised shareholder lawsuit filed on Monday. The suit cites board meeting minutes and internal emails.
The New York Times first revealed details about harassment claims against multiple executives, including Rubin, and their multi-million dollar exit packages in October. The latest allegations about Page’s role may further upend Google, which has already seen employees around the world stage walkouts over this issue.
From CNN Business' Lydia DePillis
Corporate moods are darkening, according to a key business survey released Tuesday.
IHS Markit's Business Outlook Survey recorded its lowest reading in two years in February, indicating that fewer companies plan to increase their hiring, profitability, and investment in the coming year (although the net figure is still positive).
The survey comes off a surprisingly weak February jobs report, and lends credence to the theory that a dip in hiring may indicate a broader slowdown is underway.
Other measures of business sentiment, including the Institute for Supply Management's Purchasing Manager's Index and the National Federation of Independent Business' Optimism Index, have also slowed markedly in recent months.
Despite the slowdown, American businesses remain more upbeat than those abroad, which IHS Markit measures using the same methodology.
From CNN Business' David Goldman
The Dow fell 50 points at the open Tuesday, dragged down by Boeing.
The S&P 500 and Nasdaq were up 0.2%.
From CNN Business' Brian Stelter
From CNN Business' Paul R. La Monica
The government's latest consumer price index report didn't set off any major alarm bells on inflation. Overall prices were up 0.2% in February -- in line with forecasts. And prices have risen just 1.5% over the past 12 months. That probably means the Federal Reserve will be able to sit tight with interest rates for the foreseeable future.
But there was one nugget in the CPI report that should be of interest to just about everyone. Food prices rose at the highest rate since May 2014 last month.
Here are some of the items that you've probably noticed are more expensive when you buy them at the supermarket or online. Price increases are between January and February.
From CNN Business' Nathaniel Meyersohn
Dick's Sporting Goods (DKS), which has outlasted Sports Authority and regional sporting goods' players, keeps growing.
The company will open seven new stores this year. It operates around 730 stores in the United States today.
Despite the planned openings, Dick's disappointed Wall Street on Tuesday.
Sales during its most recent quarter dropped 2.2% compared with the same time last year.
Dick's sales outlook for this year also fell short of some analysts' expectations. Shares fell 4% pre-market.
From CNN Business' Jordan Valinsky
Housing was one of the weakest sectors in the US economy last year. But, Goldman Sachs (GS) analysts said in a new report, "activity should pick up" in 2019.
Here's why, according to our Matt Egan:
From CNN Business' Jordan Valinsky