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ABN AMRO 2Q Net Profit Rose Above Market Views — Update

By Sabela Nail Polish ABN AMRO Bank NV on Wednesday reported a rise in net profit for the second quarter of 2022, which came in significantly above market views, though it also posted higher operating expenses. The Dutch lender posted a net profit of 475 million euros ($485.1 million), compared with EUR393 million a year …

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Market route sends US state and city pension funds to worst year since 2009

Public pension plans lost a median 7.9% in the year ended June 30, according to Wilshire Trust Universe Comparison Service data released Tuesday, their worst annual performance since 2009 and a fresh sign of the chronic financial stress facing and retirement savers. Much of the damage occurred in April, May and June, when global markets …

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GoodRx stock rockets after earnings as company says snag with large grocer has been resolved

Shares of GoodRx Holdings Inc. popped nearly 50% in after-hours trading Monday after the company, which offers services for people looking to compare prescription drug prices, topped expectations with its latest results and indicated that a previously disclosed issue with a major grocer has since been “addressed.” The company reported a second-quarter net loss of …

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Novavax slashes sales guidance in half, stock plunges 34%

Novavax Inc. executives slashed their annual sales guidance in half Monday while wildly missing financial expectations, sending shares down more than 30% in after-hours trading. Novavax NVAX, -5.01% now projects total 2022 revenue of $2 billion to $2.3 billion, after previously stating a goal of $4 billion to $5 billion. The US Food and Drug …

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Nvidia stock tumbles after company says revenue fell way shy of expectations

Shares of Nvidia Corp. were tumbling more than 5% in morning trading Monday after the semiconductor company disclosed that it expects to fall well short of revenue expectations for its latest quarter, largely due to gaming weakness. The company expects fiscal second-quarter revenue of $6.7 billion, up from $6.5 billion a year before, whereas analysts …

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A surging stock market is on the verge of signaling a ‘huge’ move — but there’s a catch

The pace of the stock market’s rise as it continues a bounce off the June lows is nearing a magnitude that’s preceded “huge” moves in the past. The dilemma for investors is that those moves can be in “either direction,” analysts at Jefferies observed in a weekend note. Through Friday, the S&P 500 SPX, has …

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This savings account is now paying 5% — plus other accounts that offer $100+ cash bonuses and more

Some savings accounts pay far more than others Getty Images/iStockphoto The national average interest rate for savings accounts is a paltry 0.11%, according to Bankrate data from July 27. The good news? Many online banks offer rates far higher than the national average — something you may want to consider as pros say that despite …

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These money and investing tips can keep you on the beam when markets are off-balance

Don’t miss these top money and investing features: Sign up here to get MarketWatch’s best mutual funds and ETF stories emailed to you weekly! INVESTING NEWS & TRENDS A higher dividend yield isn’t always better Long-term investors should focus on companies whose dividends are most likely to grow Read More Apple’s enviable cash hoard is …

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Roaring labor market puts ‘boomflation’ back on the map for investors

The worry instead turned to what a rip-roaring labor market and surging costs for everything means for stocks and bond portfolios, particularly if it turns into a mix of higher growth and inflation with staying power. What to even call such a scenario? “Boomflation,” said Kent Engelke, chief economic strategist at Capitol Securities Management, pointing …

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