Emile Wamsteker | Bloomberg | Getty Images A customer exits a Big Lots store in Clifton, New Jersey. Shares of Big Lots plunged Friday after the discount retailer reported second-quarter earnings that fell short of Wall Street expectations. The company’s stock dropped more than 9 percent, adding to its 14.7 percent decline this year. The
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For female shoppers, Lululemon spearheaded a movement toward “athleisure” apparel in the U.S. and has maintained a loyal base of customers for its leggings and yoga gear. Lululemon continues to see strong traffic at its stores in North America, a market where brands like Nike and Under Armour have been struggling to keep growing of
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Federal health officials directed 21 websites Tuesday to stop selling what regulators say are illegal, “potentially dangerous, unapproved and misbranded” opioids online. The Food and Drug Administration has taken action against more than 70 websites selling various versions of opioid drugs, including tramdol, so far this summer. Some of the drugs they’re selling are actually
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In the latest development of the current crisis facing Papa John’s, ousted founder John Schnatter on Monday made a slew of accusations against Chief Executive Officer Steve Ritchie for causing the company’s poor performance. Those allegations, which Schnatter detailed in a letter addressed to franchisees on the website “savepapajohns.com,” blamed Ritchie for “bad financial decisions,
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Check out the companies making headlines after the bell: Shares of Akcea Therapeutics and Ionis Pharmaceuticals plummeted more than 21 percent and nearly 15 percent, respectively, during after-hours trading after the two companies announced that they had received a complete response letter from the FDA regarding a new drug application for Waylivra. A complete response
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In the U.S., some high-profile humanities and liberal arts graduates have left their mark on the corporate world. A 2015 Time magazine list of humanities business luminaries includes Starbucks CEO Howard Schultz, who studied communications; HBO CEO Richard Plepler, who studied political science; and YouTube CEO Susan Wojcicki, who studied history and literature. John Mackey,
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Central to Americans’ confidence in our government is their confidence in our tax-collection system. Unfortunately, the Internal Revenue Service has not always earned that trust, undermining this system of voluntary compliance and taxpayer engagement. Fortunately, this has been a bipartisan issue in the past, and we believe a bipartisan proposal exists to once again solve
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A fiduciary is a person given the power to act on behalf of another and put their interests first. The Investment Advisors Act of 1940 is a law that was enacted in order to regulate advisors who, for compensation, give advice to others as to the value of securities or as to the advisability of
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Walmart, already the nation’s largest retailer, is trying to create a massive, digital marketplace to draw more shoppers to its website — and away from its biggest rival, Amazon. Starting Monday, edgy outdoor-gear company Moosejaw will be featured on Walmart’s website with its own, online destination. Purchased by Walmart in 2017, Moosejaw’s assortment of merchandise
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One of the year’s biggest bulls is bracing for a near-term pullback. Federated Investors’ Phil Orlando believes escalating geopolitical risks will put pressure on stocks in coming weeks. He’s concerned that uncertainty surrounding Federal Reserve policy, the Mueller investigation, midterm elections and the tariff war could trigger a downside move. “That’s exactly what’s on my
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Uber is planning a shift in emphasis from cars to electric bicycles and scooters for shorter journeys as part of its long-term strategy, according to the ride-hailing app’s chief executive. Dara Khosrowshahi said more individual modes of transport were better suited to inner-city travel, despite snatching revenues away from Uber’s drivers. He admitted that in
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But while the benchmark rate is at about the same level it was following the financial crisis, monetary policy conditions are drastically different, said Peter Boockvar, chief investment officer at Bleakley Advisory Group. A decade ago, the Fed slashed its overnight interest rate to zero during the aftermath of the financial crisis. The central bank
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The United States has started a trade war with China, and art is caught in the cross-fire. The administration announced this month that President Trump had proposed duties as high as 25 percent on $200 billion worth of imported Chinese goods “to encourage China to change its harmful policies.” The proposed tariffs, initially set at
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