Stocks

Piper Sandler chief investment strategist Michael Kantrowitz argues stocks haven't hit their "bottom" yet after Wednesday's bad day.

The company said it expects fiscal 2022 per share adjusted earnings of $6.45 to $6.85, compared with its previous forecast of $7.00 to $7.50.

Walmart and Target, solid barometers of consumer spending, didn't mince words on sky-high inflation.

White House press secretary Karine Jean-Pierre said Wednesday that the stock market, which continues to witness erratic trading amid soaring inflation, is not something the White House tends to “keep an eye on every day.”

Factors that contributed to Tesla's lower score include its lack of "low carbon energy and codes of business conduct."

Americans hunkered down during the lockdowns engaged in more do-it-yourself (DIY) home projects, lifting sales of paint and building materials at Lowe's and bigger rival Home Depot in 2020.

The bleak results come a day after larger rival Walmart Inc cut its annual profit view, even though both retailers clocked better-than-expected quarterly sales.

Musk has put his $44 billion acquisition of the social media giant temporarily on hold as he awaits details supporting Twitter's calculations that spam and fake accounts make up less than 5% of the platform's users.

According to a 13F filing with the Securities and Exchange Commission, Berkshire added more than 55 million Citigroup shares worth approximately $2.95 billion.

The company has fared better than most rivals in maintaining inventory levels due to its massive scale and negotiating power with suppliers, but costs have soared as it expedited shipments and chartered cargo ships to get products on shelves.

The company now expects comparable sales to increase about 3% in fiscal 2022, compared to its previous forecast of a slight positive growth.

FOX Business takes a look at the upcoming events that are likely to move financial markets in the coming days.

Oil giant Saudi Aramco said Sunday its profits soared more than 80% in the first three months of the year, as the state-backed company cashes in on the volatility in global energy markets and surging oil prices following Russia’s invasion of Ukraine.

India has banned exports of wheat because of a risk to its food security partially due to Russia's attack on Ukraine.

Ford Motor has trimmed its stake in the electric carmaker Rivian Automotive for the second time in a week.

The FTX CEO currently has no plans of changing or influencing the control of Robinhood, but could potentially enhance its stockholder value through "various strategic alternatives or operational or management initiatives" or acquiring additional shares.

Twitter CEO Parag Agrawal responded to Elon Musk's surprise tweet, saying he expected Musk’s $44 billion acquisition of the social medial company to close in 2022.

Twitter shares are taking a hit after Elon Musk said in a tweet that his $44 billion acquisition is temporarily on hold.

Wedbush Securities analysts Dan Ives and John Katsingris say Elon Musk's "bizarre tweet" putting his $44 billion Twitter acquisition on hold has turned the entire deal into a "circus show".

The Nasdaq Composite is on pace to cross the lows hit in the pandemic crash of March 2020.