Category: Penny Stocks

Virginia could become the first Southern state to allow regulated retail sales of cannabis if Gov. Glenn Youngkin doesn’t sign, veto or amend the measure that the legislature passed, advocates told MarketWatch.

While other states have so-called pocket vetoes allowing governors to kill bills through inaction, Virginia state law dictates that bills become effective 30 days after the Assembly adjourns if the state’s chief executive does nothing.

Since…

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The numbers: The number of job openings in the U.S. stayed at 8.9 million for the third month in a row, suggesting the demand for labor remains quite robust.

Federal Reserve officials want to see labor market cool off further as they prepare to reduce interest rates later this year. A tight labor…

Target Corp. is well positioned for growth in its second-quarter as the retail giant gets past the challenges of recent years, such as the 2023 controversy over Pride-themed products, according to analyst firm D.A. Davidson.

The discount retailer’s shares soared following the company’s fourth-quarter results to end Tuesday’s session up 12%. The stock is up 3.3% Wednesday.

“For…

Shares of EVgo Inc. got a nice boost Wednesday after the company, which operates an electric-vehicle-charging network, reported fourth-quarter results that beat expectations, with charging revenue more than tripling.

The company said growth in the usage of its charging stalls continues to exceed growth in EVs in operation. In 2023, 930 new stalls were added, to reach 2,990 stalls in operation at the end of the year.

“EVgo…

Shares of Abercrombie & Fitch Co. pulled back Wednesday, as the apparel and accessories retailer’s quarterly results and outlook were good, but apparently not good enough to keep fueling the stock’s recent rocket ride to record highs.

The stock ANF fell 2.6% in premarket trading, after rising in 13 of the past 14 sessions to close Tuesday at a record high. It has run up 58.6% year to date, after rocketing 285.1% in 2023, which was the stock’s best yearly performance since it went public in September 1996.

For…

Thor Industries Inc.’s stock fell sharply on Wednesday after the recreational vehicle maker missed quarterly profit expectations and cut its 2024 guidance in the face of a challenging environment.

Thor Industries THO stock fell 17% in premarket trades. Other RV stocks fell in sympathy, with Winnebago industries Inc. WGO down by about 7%, and RV seller Camping World CWH off 2.2%, while chassis maker LCI Industries Inc. LCII was unchanged.

Elkhart,…

Brown-Forman Corp. ‘s stock fell 4.6% early Wednesday, after the parent of Jack Daniel’s whiskey’s fiscal third-quarter sales fell short of estimates, overshadowing a profit beat.

The Louisville, Ky.-based company BF.A BF.B posted net income of $285 million, or 60 cents a share, for the quarter to Jan. 31, up from $100 million, or 21 cents a share, in the year-earlier period. Sales fell 1% to $1.069 billion from $1.081 billion.

The…

Shares of Foot Locker Inc. took a tumble Wednesday, after the athletic shoe apparel retailer provided a full-year profit outlook that was below expectations, and pushed back the timing of reaching its target for adjusted margins by two years.

The downbeat outlook, which followed increased markdowns to reduce inventory at the end of the year, offset better-than-expected fourth-quarter results.

The…

Story developing. Stay tuned for updates here.

The numbers: American businesses add 140,000 new jobs in February, paycheck company ADP said.

Economists polled by the Wall Street Journal had forecast a gain of 150,000.

Palantir Technologies Inc. won a new Army contract, and that was giving its stock a big lift in Wednesday’s premarket action.

Shares of Palantir PLTR were up more than 7% in early trading after the company said it won a U.S. Army award for development of the military branch’s “next-generation deep-sensing capability,” which will be powered by artificial intelligence.

The…