Daily Business Briefing July 2, 2021Updated July 2, 2021, 8:35 a.m. ET July 2, 2021, 8:35 a.m. ETThe leisure and hospitality sectors suffered the biggest job losses from the pandemic.Credit…Karsten Moran for The New York Times Hiring leapt back up in June as employers added 850,000 workers, the government reported Friday, a fresh sign that … Read more
Here’s what you need to know: Colonial Pipeline fuel tanks in Woodbridge, N.J. The company’s pipeline carries nearly half the fuel supplies for the East Coast.Credit…Colonial Pipeline/Via Reuters Gasoline prices rose as much as 4.2 percent early on Monday after a major petroleum pipeline in the United States was shut down over the weekend because … Read more
The F5 Tower in downtown Seattle. (GeekWire Photo / Kurt Schlosser) F5 Networks Income: The Seattle-based company posted fiscal first quarter revenue of $ 645 million, up 11% year over year. Non-GAAP earnings per share were $ 2.50 versus $ 2.23. Analysts had expected revenue of $ 635 million and earnings per share of $ … Read more
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Here’s what you need to know: For weeks, as the stock market regularly climbed to records, investors wondered what it would take to snap Wall Street out of its blissful state. The resurgent pandemic certainly wasn’t doing it. Even an insurrection at the U.S. Capitol wasn’t alarming enough to end the rally. GameStop, though? On … Read more
Despite the rejection of any arrangement with funders on Wall Street, the belief is widespread that the inability to buy these specific businesses was coordinated to disadvantage retailers. Meanwhile, some explanations have been given about the events involving the Substredit Wallstreetbets and the business model of a company like Robinhood, indicating that their moves resulted … Read more