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

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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 governments and retirement savers. Much of the damage occurred in April, May and June, when global …

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

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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%

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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

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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

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The pace of the stock market’s rise as it continues to bounce off the June lows is nearing a magnitude that 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

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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 …

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

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

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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 …

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

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

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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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‘Makes their blood boil’: Democrats criticize billion-dollar companies for paying low tax rates and state-by-state tax-free shopping guide for back-to-school supplies

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Hi, MarketWatchers. Don’t miss these top stories. ‘Makes their blood boil’: Democrats criticize billion-dollar companies for paying low tax rates More than 100 US companies are paying an average effective tax rate of 1.1%, according to new data released by Senate Finance Committee Chairman Ron Wyden. Read More ‘Arguably, it is the best time ever …

‘Makes their blood boil’: Democrats criticize billion-dollar companies for paying low tax rates and state-by-state tax-free shopping guide for back-to-school supplies Read More »