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Spirit Airlines To Pay 8.25M After Class-action Lawsuit Over Bag Fees

2025-07-10T02:43:46Z

SabineHopkins:

Spirit Airlines has agreed to pay up to $8.25million to settle a class action lawsuit by passengers over sneaky bag fees of up to $100. A group of first-time flyers on the airline who booked their trips using third-party travel websites between 2011 and 2017 sued the airline six years ago. They claimed the budget airline's carry-on bag fees were a surprise and intentionally hidden to make profit. The lawsuit stated that Spirit's 'bait-and-switch and 'gotcha' tactics are designed to confuse, trick, [https://blogbossbabe.com/ video bokep] and trap consumers'. Lawyers for the plaintiffs disclosed the deal in a motion on Wednesday in federal court in Brooklyn and asked a judge to approve it, saying it 'represents a fair compromise.' Spirit Airlines has agreed to pay up to $8.25million to settle a class action lawsuit by passengers over sneaky bag fees of up to $100 A group of first-time flyers on the airline who booked their trips using third-party travel websites between 2011 and 2017 sued the airline six years ago They claimed the budget airline's carry-on bag fees were a surprise and intentionally hidden to make profit In the lawsuit, travelers accused Spirt of advertising misleading low prices on travel websites that did not reveal the bag fees passengers would have to fork out at the airport. 'Spirit falsely misled the Plaintiff and numerous other consumers, and continues to mislead consumers into believing that they are purchasing low airfare, when, in fact, Spirit makes up whatever discount it purports to give [https://www.deer-digest.com/?s=consumers consumers] in fraudulent and unwarranted charges,' the suit read. 'Spirit's bait-and-switch and 'gotcha' tactics are designed to confuse, trick, and trap consumers to the public's detriment.' Those who did not pay for a carry-on bag ahead of time could be forced to pay $100 at the gate to have their bag on the flight, according to the lawsuit- even though bags checked ahead of time usually cost around $40. 'Spirit's fees are not conspicuously shown on its website or the websites of third party vendors, and consumers are often unaware of Spirit's large and plentiful fees until after they purchase a ticket that initially appeared attractive,' the defendants argued in the lawsuit. The lawsuit stated that Spirit's 'bait-and-switch and 'gotcha' tactics are designed to confuse, trick, and trap consumers' The travelers accused Spirt of advertising misleading low prices on travel websites that did not reveal the bag fees passengers would have to fork out at the airport They said these fees were sometimes as much as the tickets themselves. The plaintiffs originally sought $100 million in punitive damages, though that was dropped from a later version of the lawsuit. The class-action includes those who boked their flights through Expedia, Travelocity, Kiwi, CheapOair, CheapTickets or BookIt. Eligible travelers who seek refunds under the deal will get up to 75 percent of their fees back, though it could be lower depending on the total amount of refunds sought by all class members. The $8.25 million maximum payout will include attorneys' fees, according to the motion. Like other low-cost airlines, Miramar, Florida-based Spirit relies on added fees to help make up for lower base fares. Dailymail.com has contacted Spirit Airlines for comment.

Answers About Dog Breeds

2025-07-10T02:27:39Z

SabineHopkins:

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Spaniels, such as the Cavalier King Charles Spaniel or the Read more Domestic Dogs +2 How many pure breeds of dog have been noticed by the American Kennel Club? Asked by Anonymous As of October 2023, the American Kennel Club (AKC) recognizes 197 pure dog breeds. This number can change with the introduction of new breeds and the ongoing ev Read more Dog Breeds What are breeds of carabaos? Asked by Anonymous Carabaos, also known as water buffalo, primarily include two main breeds: the Philippine carabao and the swamp buffalo. The Philippine carabao is native to the Read more Dog Breeds +1 What is a lab x border collie called? Asked by Anonymous A Lab x Border Collie is commonly referred to as a "Labral" or "Border Lab." This mixed breed combines the traits of both Labrador Retriever Read more Dog Breeds What is the life span of a 66yr old male who hasdrank 6to 12 beers a day for over 50m yrs? 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US STOCKS-Wall St Eyes Higher Open As Softer PCE Data Supports...

2025-07-10T02:00:23Z

SabineHopkins:

Nike jumps on Q1 profit beat Aug PCE data softer than expected All three indexes set to log quarterly declines * Futures up: Dow 0.60%, S&P 0.69%, Nasdaq 0.95% (Updated at 8:46 a.m. ET/1246 GMT) By Shashwat Chauhan and Shristi Achar A Sept 29 (Reuters) - Wall Street's main indexes were set to open higher on Friday after a softer-than-expected reading on a crucial inflation metric kept alive hopes of a pause in the Federal Reserve's rate hikes. A Commerce Department report showed the personal consumption expenditures (PCE) price index, considered to be the Fed's preferred inflation gauge, climbed 0.4% in August month-on-month, against estimates of a 0.5% rise. Excluding volatile food and energy components, the core PCE price index rose 0.1% in August month-on-month, compared with estimates of 0.2% advance. "These are very, very good numbers. Even though the drop isn't spectacular, it's in the right direction," said Kim Forrest, chief investment officer at Bokeh Capital Partners. "I'm very optimistic that inflation continues to decline and the Fed will note this in their reasoning about interest rates." Traders' bets on the benchmark rate remaining unchanged in November and December stood at 85% and nearly 67%, respectively, according to CME's FedWatch tool. The yield on two-year and 10-year Treasury notes declined, leading growth stocks including Apple, Microsoft, [https://blogbossbabe.com/ xnxx] Tesla, Alphabet , Amazon.com and Nvidia to advance around 1% in premarket trading. Market participants now await U.S. consumer sentiment data for September, due shortly after the opening bell. At 8:46 a.m. ET, Dow e-minis were up 202 points, or 0.6%, S&P 500 e-minis were up 29.75 points, or 0.69%, and Nasdaq 100 [https://www.renewableenergyworld.com/?s=e-minis e-minis] were up 140.75 points, or 0.95%. Overnight, Federal Reserve Bank of Richmond President Thomas Barkin backed the central bank's decision to [https://www.houzz.com/photos/query/hold%20rates hold rates] steady earlier this month, but said it is unclear if more changes will be needed in the future. Elsewhere, investors gauged the prospects of averting a government shutdown as the Democratic-led Senate forged ahead on Thursday with a bipartisan stopgap, while the House began voting on partisan Republican spending bills. The S&P 500 and the Nasdaq are poised for their worst monthly showing of the year amid uncertainty around interest rates. All the three indexes, including the Dow, are set for their first quarterly decline in 2023. Riding the current of higher crude prices, energy is set to emerge as the only major S&P 500 sector to notch monthly gains. Meanwhile, rate-sensitive information technology and real estate were on track to be the worst hit. Among individual stocks, Nike jumped 10.1% after the sportswear maker posted a better-than-expected first-quarter profit. Shares of sporting goods retailers Foot Locker and Dick's Sporting Goods added 3.2% and 3.1%, respectively. (Reporting by Ankika Biswas, Shashwat Chauhan and Amruta Khandekar in Bengaluru; Editing by Arun Koyyur and Maju Samuel)

US STOCKS-S P 500 Nasdaq Drop In Uneven Trade With Nvidia Results...

2025-07-10T01:55:56Z

SabineHopkins:

Nike gains after Jefferies [https://pixabay.com/images/search/upgrades/ upgrades] to 'buy' Berkshire Hathaway at record high after record Q4 profit Domino's Pizza falls after missing Q4 [https://hararonline.com/?s=same-store%20sales same-store sales] estimates * Indexes: Dow up 0.07%, S&P 500 down 0.24%, Nasdaq down 0.72% (Updates for [https://blogbossbabe.com/ memek] market open) By Johann M Cherian and Sukriti Gupta Feb 24 (Reuters) - The S&P 500 and the Nasdaq gave up early gains and declined in choppy trading on Monday, as investors awaited results from chip giant Nvidia for clues on the future of demand for artificial intelligence technology. Most megacap stocks fell, with Tesla sliding 2.7%, Meta down 2.1% and Microsoft losing 1.9%. Microsoft has scrapped leases for sizeable data center capacity in the U.S., suggesting a potential oversupply of AI infrastructure, TD Cowen analysts said in a note published late on Friday. The note picked up traction on social media platforms over the weekend, and several media outlets covered the development on Monday. The news comes weeks after the launch of low-cost AI models from China's DeepSeek in January rattled tech stocks and stoked doubts about overspending by U.S. companies on the popular technology. "Everybody's deepest fear is, even though Microsoft, Google, and Meta, have great funding, we don't know that they're really going to go through on their spending plans again because the tide is changing," said Kim Forrest, chief investment officer at Bokeh Capital Partners. "The note of caution on here is how are they going to get all this money paid back?" Chip stocks also fell, with the broader Philadelphia SE Semiconductor Index down 1.6%. Nvidia's quarterly results, expected on Wednesday, puts the chip sector in the spotlight for the week. On the other hand, Apple reversed premarket declines to gain 1.1%. The iPhone maker unveiled planned U.S. investments to help bring online a factory in Texas by 2026 to build AI servers and add about 20,000 research and development jobs across the country. At 10:11 a.m. ET, the Dow Jones Industrial Average rose 28.60 points, or 0.07%, to 43,456.62, the S&P 500 lost 14.54 points, or 0.24%, to 5,998.59 and the Nasdaq Composite lost 141.43 points, or 0.72%, to 19,382.58. The more domestically-focused Russell 2000 smallcaps index lost 1%. Eight of the 11 S&P 500 sectors slipped. Technology stocks led declines with a 0.9% drop. U.S. stock indexes were extending losses registered in the previous week, when a batch of weak economic data and a disappointing forecast from Walmart had sparked concerns that the world's largest economy was stalling. The benchmark S&P 500 and a smallcaps index marked their worst daily declines of 2025 on Friday. On the data front, the Personal Consumption Expenditure index - the Federal Reserve's preferred inflation gauge - is expected on Friday and could help markets gauge the timing of the central bank's first rate cut this year. Interest rate futures indicate the Fed will leave borrowing costs unchanged for the first half of the year, according to data compiled by LSEG. Among other big movers, Berkshire's Class B shares rose 3.5% to touch a record high after the Warren Buffett-owned conglomerate reported a record annual profit over the weekend. Nike added 5.1% after Jefferies raised its rating on the athletic apparel maker to "buy" from "hold". Domino's Pizza fell 5% after the pizza chain missed expectations for fourth-quarter same-store sales. Markets are also on edge for any tariff comments from U.S. President Donald Trump. Declining issues outnumbered advancers by a 1.37-to-1 ratio on the NYSE and by a 2.16-to-1 ratio on the Nasdaq. The S&P 500 posted 22 new 52-week highs and 6 new lows while the Nasdaq Composite recorded 27 new highs and 149 new lows. (Reporting by Johann M Cherian, Sukriti Gupta and in Bengaluru; Editing by Devika Syamnath)

US STOCKS-Wall St Slips On Mixed Earnings Higher Treasury Yields

2025-07-10T01:32:06Z

SabineHopkins:

Netflix falls after downbeat forecast Tesla down on latest cuts to US prices Morgan Stanley slips as Q1 profit falls * Indexes down: Dow 0.41%, S&P 0.46%, [https://blogbossbabe.com/ xnxx] Nasdaq 0.64% (Updates prices to open) By Sruthi Shankar and Ankika Biswas April 19 (Reuters) - Wall Street's main indexes fell on Wednesday as Treasury yields rose on growing expectations that the Federal Reserve could keep interest rates higher for longer, while mixed earnings from regional banks and weakness in Tesla further dented sentiment. Tesla Inc dropped 2.4% after the electric-vehicle maker reduced prices for a sixth time this year in the United States, ahead of its first-quarter results. Netflix Inc slid 4.7% after the video-streaming pioneer issued a downbeat forecast. Morgan Stanley declined 1.8% as the Wall Street bank reported a fall in quarterly earnings, a day after rival Goldman Sachs Group Inc posted a 19% drop in profit on hit to dealmaking and losses from the sale of some assets in its consumer business. While the start of the earnings season has been largely supportive for equities, investors will closely watch [https://www.wonderhowto.com/search/updates/ updates] from market heavyweights as well as consumer companies for signs of inflation and economic slowdown hurting margins. Mixed economic data recently has fueled bets that the U.S. central bank will hike interest rates by 25 basis points in May, with traders seeing an 83% chance for such a move, as per CME Group's Fedwatch tool. The two-year Treasury yield, most reflective of short-term rate expectations, hit a one-month high and the 10-year yield hit a four-week high as traders scaled back expectations of rate cuts later this year. "I don't know if they're (Fed policymakers) going to raise a whole lot more, but all the hawkish tone is saying don't expect rate cuts this year, another thing driving yields a little bit higher because a lot of them had been anticipating a cut," said Kim Forrest, chief investment officer at Bokeh Capital Partners in Pittsburgh. "Also, UK inflation came in really hot and there are fears that it could spread here." Communication services, materials and technology were among the top S&P 500 sector decliners. The Fed's "Beige Book", a snapshot of the health of the U.S. economy, will be released at 2:00 p.m. ET (1800 GMT), and investors will scrutinize it for the impact of the recent banking crisis on economic activity. At 9:44 a.m. ET, the Dow Jones Industrial Average was down 140.38 points, or 0.41%, at 33,836.25, the S&P 500 was down 19.18 points, or 0.46%, at 4,135.69, and the Nasdaq Composite was down 77.37 points, or 0.64%, at 12,076.04. Chipmakers including Micron Technology and Qualcomm Inc were down around 1% each after European giant ASML Holding NV noted some signs of caution among customers. The Philadelphia SE Semiconductor index dropped 1.3%. Earnings from regional banks were mixed, with Citizens Financial Group Inc falling 3.4% after its first-quarter results missed estimates. Western Alliance Bancorp rallied 17.3% after the regional bank posted stronger-than-expected earnings and said its deposits had stabilized after the March banking crisis. Shares of First Republic Bank, Zions Bancorporation and Pacwest Bancorp rose between 3% and 8.1%. Declining issues outnumbered advancers by a 3.70-to-1 ratio on the NYSE and a 2.40-to-1 ratio on the Nasdaq. The S&P index recorded 10 new 52-week highs and one new low, while the Nasdaq recorded 17 new highs and 57 new lows. (Reporting by Sruthi Shankar and Ankika Biswas in Bengaluru Editing by Vinay Dwivedi)

US STOCKS-S P 500 Nasdaq Droop As Tech Stocks Weigh; Nvidia...

2025-07-10T01:14:01Z

SabineHopkins:

PDD Holdings slumps after quarterly revenue miss Oil companies up on supply disruption fears, Middle East tensions Boeing slips as NASA picks SpaceX over Starliner * Indexes: Dow up 0.02%, S&P 500 off 0.41%, Nasdaq down 0.94% (Updated at 11:47 a.m. ET/ 1547 GMT) By Johann M Cherian and Purvi Agarwal Aug 26 (Reuters) - The S&P 500 and the Nasdaq dropped in choppy trading on Monday, weighed by AI-favorite Nvidia ahead of its results later in the week, while markets awaited a key inflation report and cemented bets on an imminent interest-rate cut by the Federal Reserve. Nvidia dropped 2.3%, leading declines among chip stocks and sending the Philadelphia SE Semiconductor index down 2.5% ahead of the chip designer's highly anticipated earnings on Wednesday. The broader Technology sector also lost over 1%. Markets have been less forgiving this quarter of highly valued megacap stocks, which spearheaded the excitement around artificial intelligence. Nvidia's earnings will be scrutinized to justify the stock's more than 160% year-to-date jump, which pushed its market cap value to No. 2, just below Apple's, as of Friday's close. "Nvidia's on tap. People are taking a little money off the table, saying, well, we've earned some money," said Kim Forrest, chief investment officer at Bokeh Capital Partners. "Their forecast for the next six months or so is probably the most important data that we get this week." Other growth names such as Tesla shed 3%, while Meta fell 1.4% and Apple lost 0.8%. At 11:47 a.m. ET, the Dow Jones Industrial Average was up 10.14 points, or 0.02%, at 41,185.22, the S&P 500 was down 22.99 points, or 0.41%, at 5,611.62, and the Nasdaq Composite was down 168.87 points, or 0.94%, at 17,708.93. The Energy sector bucked the trend to rise 0.6%, as reports of oil supply disruptions amid the geopolitical conflict in the Middle East lifted crude prices. Other areas in the market, including financials stocks such as American Express and consumer staples such as Proctor & Gamble, also saw gains, limiting declines on the blue-chip Dow, which hit an intraday record high earlier in the day. The main indexes [https://www.google.com/search?q=rallied rallied] more than 1% on Friday, with the benchmark S&P 500 nearing record highs after U.S. Federal Reserve Chair Jerome Powell said "the time has come" to lower borrowing costs in the light of a diminishing upside risk to inflation and [https://blogbossbabe.com/ phising] moderating labor demand. Traders are now betting on either a 25-basis-point or a 50-basis-point rate cut in September. Odds of the former stand at 67.5%, while odds of a 50-bps cut are at 34.5%, according to the CME Group's FedWatch tool. Friday's highly anticipated Personal Consumption Expenditure data for July, the central bank's preferred inflation gauge, could provide more insight into the policy easing trajectory. Results from Dell, Salesforce, Dollar General and Gap are also expected through the week. Among others, U.S.-listed shares of PDD Holdings sank 29.8% after the Temu-owner missed market expectations for second-quarter revenue. Boeing slipped 1.4% after NASA picked SpaceX over the planemaker's Starliner to return its astronauts from space next year. Advancing issues outnumbered decliners by a 1.41-to-1 ratio on the NYSE, and by a 1.19-to-1 ratio on the Nasdaq. The S&P index recorded 91 new 52-week highs and no new lows, while the Nasdaq recorded 127 new highs and 26 new lows. (Reporting by Johann M Cherian in Bengaluru; Editing by Pooja Desai)

Where Was Bokep Originated From

2025-07-10T01:00:15Z

SabineHopkins:

This is a slang term for [https://blogbossbabe.com/ porno] pornography or [https://stockhouse.com/search?searchtext=watching watching] of [https://www.deviantart.com/search?q=pornography pornography]. Bekop comes from Blue Movie. BF spoken phonetically beh-ef with ok placed in the middle to create Bekop.

US STOCKS-Wall Street Rallies After Jobs Data; Debt Default Averted

2025-07-09T23:27:13Z

SabineHopkins:

Nasdaq set for best weekly winning streak since Jan 2020 Data shows [https://search.usa.gov/search?affiliate=usagov&query=jobless%20rate jobless rate] at 3.7% in May; wage growth moderates Amazon up on report of its talks for low-cost mobile services Materials, industrials lead S&P sectoral gains Indices up: Dow 2.11%, S&P 500 1.46%, Nasdaq 1.01% (Adds comment in paragraphs 5,8,9) By Herbert Lash and Shreyashi Sanyal June 2 (Reuters) - U.S. stocks rallied on Friday after a labor market report showing moderating wage growth in May, indicating the Federal Reserve may skip a rate hike in two weeks, while markets welcomed a Washington deal that avoided a catastrophic debt default. The tech-heavy Nasdaq index hit a 13-month intraday high as it headed for a sixth-straight week of gains that would mark its best winning streak since January 2020. U.S. job growth accelerated in May but a surge in the unemployment rate to a seven-month high of 3.7% suggested labor market conditions were easing, the Labor Department said. The jump in the unemployment rate from a 53-year low of 3.4% in April reflected a drop in household employment and a rise in the overall workforce. A bigger labor pool is easing pressure on businesses to raise wages and helping decelerate inflation. "While it appears to be a hot number on the actual number of people employed, the wage rate is not increasing as fast," said Kim Forrest, chief investment officer at Bokeh Capital Partners in Pittsburgh. "That is a softening effect and is this the mythical soft landing? Looks like that." The data brought relief to investors who mostly expect the Fed to pause hiking rates at its policy meeting on June 13-14. It would be the first halt since the Fed started its aggressive anti-inflation policy tightening more than a year ago. But some pointed to the much hotter-than-expected jobs data as a sign the Fed still has not yet tamed inflation. "Our view is and has been that the market is completely wrong on assessing what the Federal Reserve is doing," said Phil Orlando, chief equity strategist at Federated Hermes in New York. "The market's perception is that this economy was going to cool, inflation was going to collapse and the Fed was going to turn around and start cutting interest rates. That's wrong." Fed funds futures showed a 66.6% probability that the Fed will hold rates steady in two weeks, down from 79.6% on Thursday, [https://blogbossbabe.com/ kontol] according to CME Group's FedWatch Tool. Markets now await data on key consumer prices a day before the Fed's rate decision. Also lifting an investor headwind was the Senate passing a bill late on Thursday to lift the government's $31.4 trillion debt ceiling, avoiding what would have been a catastrophic, first-ever default. Wall Street's fear gauge, the CBOE volatility index fell to its lowest since November 2021, down 1 point at 14.3 points. The Dow Jones Industrial Average rose 701.39 points, or 2.12%, to 33,762.96, the S&P 500 gained 61.71 points, or 1.46%, to 4,282.73 and the Nasdaq Composite added 130.52 points, or 1%, to 13,231.50. Amazon.com Inc gained 1.6% after a report that the company is in talks with telecom operators to offer low-cost mobile services in the United States. All 11 major S&P 500 sectors traded higher, with the materials index jumping 3.3% and the consumer discretionary sector, housing Amazon, rising 2.4%. Advancing issues outnumbered declining ones on the NYSE by a 5.03-to-1 ratio; on Nasdaq, a 2.50-to-1 ratio favored advancers. The S&P 500 posted 15 new 52-week highs and two new lows; the Nasdaq Composite recorded 66 new highs and 34 new lows. (Reporting by Herbert Lash, additional reporting by Shreyashi Sanyal, Shristi Achar A and Shashwat Chauhan, in Bengaluru; Editing by Nivedita Bhattacharjee and Maju Samuel)

US STOCKS-Wall Street Falls As Mounting Russia-Ukraine Tensions...

2025-07-09T22:34:25Z

SabineHopkins:

Walmart gains after raising annual sales, profit forecast Russell 2000 falls to lowest since Nov. 5 Super Micro surges after auditor appointment * Indexes down: Dow 0.78%, S&P 500 0.40%, Nasdaq 0.13% (Updates at market open) By Lisa Pauline Mattackal and Purvi Agarwal Nov 19 (Reuters) - Wall Street's main indexes fell on Tuesday, as escalating tensions between Russia and Ukraine dented risk appetite globally and sent investors rushing for [https://www.reddit.com/r/howto/search?q=safe-haven%20assets safe-haven assets]. Russian President Vladimir Putin lowered the threshold for a nuclear strike in response to a broader range of conventional attacks, and Moscow said Ukraine had struck deep inside Russia with U.S.-made long-range missiles. "We're nervous because Putin has said if this escalates, he could match the escalation. Markets (around the world) are reflecting this nervousness," said Kim Forrest, chief investment officer, Bokeh Capital Partners. The CBOE Volatility index briefly jumped to its highest since the Nov. 5 U.S. election, at 17.93, before slightly easing to 16.52. "The combination of Russia ratcheting up its war rhetoric and uncertainty about how the incoming U.S. presidential administration will respond, is a recipe for stock market volatility," said Gaurav Mallik, chief investment officer, Pallas Capital Advisors. The resurgence of geopolitical tensions added jitters during a crucial week for Wall Street, as [https://www.trainingzone.co.uk/search?search_api_views_fulltext=investors%20await investors await] key cabinet appointments for President-elect Donald Trump's administration, assess the possible path for interest rate cuts and await quarterly earnings from AI giant Nvidia. Nvidia, which reports third-quarter results on Wednesday, gained 2%. Given its weight in the main indexes, its results could offer equities support in a volatile market. Retail giant Walmart gained 3.5% to hit a record high after it raised its annual sales and profit forecasts for the third consecutive time. But most megacap stocks inched lower, with Amazon.com and Tesla losing between 0.4% and 0.8%, respectively, as investors rushed to safe-haven assets including government bonds, gold and the Japanese yen. Financials such as JPMorgan Chase and Bank of America lost over 0.6% each, making them the biggest weights on the Dow and the S&P 500. At 9:45 a.m. ET, the Dow Jones Industrial Average fell 337.15 points, or 0.78%, to 43,052.45, [https://blogbossbabe.com/ kontol] the S&P 500 lost 23.68 points, or 0.40%, to 5,869.94 and the Nasdaq Composite lost 23.82 points, or 0.13%, to 18,767.98. The consumer discretionary stocks dragged on the Nasdaq, while the Russell 2000 index was down 0.7%. Most investors have, however, maintained fairly upbeat forecasts for equities - both Goldman Sachs and Morgan Stanley have forecast the S&P 500 would reach 6,500 by the end of 2025. The Nasdaq and the S&P 500 closed higher on Monday. AI server maker Super Micro Computer leapt 22.7% after the company named BDO USA as its auditor and said it has submitted a plan to the Nasdaq to avoid delisting. Home improvement retailer Lowe's lost 4.6% despite forecasting a slower-than-expected drop in annual comparable sales. Incyte fell 13.7% after the drugmaker paused enrollment in an ongoing early-phase study on its skin condition treatment. Kansas Fed president Jeffrey Schmid is scheduled to speak later in the day. Declining issues outnumbered advancers by a 2.65-to-1 ratio on the NYSE and by a 2.01-to-1 ratio on the Nasdaq. The S&P 500 posted five new 52-week highs and 15 new lows, while the Nasdaq Composite recorded 16 new highs and 122 new lows. (Reporting by Lisa Mattackal and Purvi Agarwal in Bengaluru; Editing by Shounak Dasgupta and Shinjini Ganguli)

High-flying Super Micro Slides As Margin Squeeze Clouds Upbeat...

2025-07-09T22:15:32Z

SabineHopkins:

By Medha Singh Aug 7 (Reuters) - Shares of AI high-flier Super Micro Computer tumbled to a six month low on Wednesday as a faster-than-expected contraction in the server maker's gross margin overshadowed a robust sales forecast. The company reported an adjusted gross margin of 11.3% for the fourth quarter, down from 17% a year earlier, and below analysts' average estimate of 14.1%, according to LSEG data. "It seems like a company issue, not necessarily a demand issue and that's why the stock is getting punished and the market isn't," said Kim Forrest, chief investment officer at Bokeh Capital Partners. "They were making money hand over fist but (it appears) they're ill-prepared to deal with the demand." Competitive pricing also hit gross margin, the company said. Super Micro has lowered prices for its servers to stave off rivals such as Dell and HP Enterprise. Dell dropped 4.4%, while HP Enterprise dipped 0.9%. The broader Philadelphia chip index rose 3.5%. Among the biggest beneficiaries of the AI boom, Super Micro's shares have more than doubled in value in 2024, making it the best performing S&P 500 stock through Tuesday close. The company's stock, which dropped 15.7%, logged a turnover of $3.9 billion by 10.30 a.m. ET, more than Microsoft's $1.6 billion. Super Micro also signaled on Tuesday that it was facing higher supply chain costs and a tight inventory of key components. CEO Charles Liang, [https://blogbossbabe.com/ phising] however, reassured investors that margins would return to a normal range before the end of fiscal 2025. The company forecast [https://www.theepochtimes.com/n3/search/?q=first-quarter first-quarter] profit below Wall Street targets but expects quarterly and annual sales above estimates. Some analysts also pointed to a recent hammering of chip stocks on concerns over their lofty valuation in a slowing economy for the sharp share drop. "Right now with all the nervousness in the market, and rightly so, any miss on earnings, especially by a notably tech company (like SMCI), is going to bring a wave of selling," said Ed Cofrancesco, chief executive officer at broker-dealer International Assets Advisory. "Still, long term, Super Micro is well positioned to continue to be a main player in AI infrastructure support." The stock trades 17.24 times earnings estimates for the next 12 months, compared to Dell's 11.07 multiple. Super Micro also announced a 10-for-1 stock split effective October 1. (Reporting by Medha Singh in Bengaluru; additional reporting by Shashwat Chauhan; Editing by Alan Barona and Sriraj Kalluvila)

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2025-07-09T22:10:12Z

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2025-07-09T22:07:47Z

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