Business
US Suspends Single Malt Scotch Whiskey Tariff
The US agreed to suspend United Kingdom tariffs that include single malt scotch whiskey. In addition, the US will remove tariffs on British cheese, cashmere, and machinery. Earlier, the UK dropped its own tariffs on various US goods, which trade officials placed over related disputes about US subsidies to Boeing.
News For The Day: Stock Market Crash? No, It’s Just Rotating Away From Tech
5 Stocks to Watch Out For Friday, March 5
Burlington Stores Inc ▲(BURL 281.99 USD +28.38 (11.19%)) stocks went wild yesterday, jumping more than 11% after it announced its earnings results for the previous quarter. The retailer reported adjusted quarterly earnings of $2.44 per share, which is 32 cents more than expected. After hours, Burlington stock still managed a small tick upwards.
Diamondback Energy Inc ▲(FANG 81.26 USD +6.82 (9.16%)) stocks led the oil sector to comeback, posting almost 10% in gains during yesterday’s trading. While most industry competitors also posted gains, they were nowhere near Diamondback’s uptick. FANG did post its4Q 2020 results, and they were not pretty. Losing $739 on ultraweak demand last year. However, it expects vastly improved demand this year as industries are gearing up to return to pre-pandemic production levels.
CoStar Group Inc ▲(CSGP After hours 800.00 USD +41.54 (5.48%)) shares made a recovery after hours, after closing regular trading with a less than 1% loss. Investors rewarded the company's decision to withdraw its bid to acquire CoreLogic. Founder and CEO Andrew Florance said that with interest rates going up, now is not the time for this.
Gap Inc ▲(GPS After hours 26.55 USD +1.17 (4.61%)) stocks more than made up for Thursday loss of 1.44% by trending upwards after hours. Like most retailers, the company reported a slight downturn in its revenues, posting $4.42 billion instead of the expected $4.66 billion. The gap remains upbeat though and predicted a more rosy outlook this year.
Imax Corp ▲(IMAX After hours USD 21.41 +0.70 (3.38%)) stocks went up after hours after the cinema trailblazer posted mixed quarterly results. While the company posted a loss per share of one cent (21 cents versus the target of 20 cents), its $56 million revenue beat a forecast of $46.8 million.
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