IRA and 401(k) millionaires are staging a comeback, with the number of seven-figure retirement accounts at Fidelity Investments inching back toward a 2021 high. The tally of such accounts rose by more than 12% in the second quarter to 727,104, according to an analysis released by Fidelity Thursday. That’s the highest since...
A Target logo is displayed on the screen of a smartphone.Sheldon Cooper | SOPA Images | Lightrocket | Getty ImagesCheck out the companies making headlines before the bell.Target — Target shares popped nearly 8% before the market opened even as the retailer slashed its full-year forecast and posted revenue...
A technician checks on a stack of wafers at the Applied Materials facility in Santa Clara, California.David Paul Morris | Bloomberg | Getty ImagesCheck out the companies making headlines after hours.Applied Materials — Applied Materials rose nearly 2% in extended trading after beating analysts' expectations on the top and...
Walmart on Thursday raised its full-year forecast, as the discounter leaned on its low-price reputation to draw grocery customers and drive online spending.The big-box retailer beat Wall Street's expectations for sales and profits. E-commerce sales for Walmart U.S. also jumped 24%.Walmart said it now expects full fiscal-year consolidated net...
At the height of the funding boom in 2021, no single sector enjoyed as much VC money as fintech startups did. But in 2023, it appears that fintech companies have to work harder to get funding. Global funding in the space hit a six-year low in the second quarter, according...
Finra arbitrators ordered a former financial advisor to pay more than $600,000 for recommending risky options strategies for a group of Alabama investors. The investors filed an arbitration claim in July 2021 against Norman Edgar McNeill and McNeill Financial Advisory. The causes of action included unsuitability; negligent misrepresentation and suppression;...
Investor Michael Burry, who famously predicted the 2008 housing market crash and later was played by Christian Bale in the movie “The Big Short,” has bet more than $1.6 billion on a Wall Street collapse, according to an SEC filing this week. Burry is apparently going all-in, or close to...
After falling sharply last year, retirement account balances are bouncing back in 2023 — but there are still signs of trouble.Helped in part by improved market conditions, retirement account balances increased in the first half of the year. However, the share of participants who tapped hardship withdrawals rose, according...
A CVS pharmacy in Bloomsburg, Pennsylvania.Paul Weaver | LightRocket | Getty ImagesCheck out the companies making headlines during midday trading Thursday.Cisco Systems — Shares of the computer networking giant added 4% after reporting earnings postmarket Wednesday that beat Wall Street's expectations. Adjusted earnings per share for its fiscal fourth...
The Adyen logo displayed on a smartphone.Rafael Henrique | SOPA Images | LightRocket via Getty ImagesShares of Adyen, the European payments giant taking on U.S. titan Stripe, fell nearly 39% on Thursday after the company reported worse-than-expected sales and a profit drop in the first half of the year.Here's...