Sunday, 29 May 2022

BRC Slips 4% On Q1 Loss

In Barcelona, a New Hotel and Hub for Creative Types

Plus: eerie fashion photography, a piercing studio and more recommendations from T Magazine.

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Denver car crash kills pedestrian, investigation ongoing, police say

A pedestrian was killed in a car crash on Wednesday night in the Clayton neighborhood, according to the Denver Police Department.

Police responded to a crash involving a car and a pedestrian at 48th Avenue and Colorado Boulevard around 9 p.m. The pedestrian, who was identified as an adult man, was taken to the hospital, police said. The man was later pronounced dead.

The driver remained on the scene and the investigation is ongoing, police said.

'Prices are still rising, but not as quickly': Romans breaks down inflation data

New York (CNN Business)Economists and investors are hopeful that we’re past the pandemic inflation peak, as another key price index showed a slower increase in April.

The Producer Price Index, which measures wholesale inflation before goods and services reach consumers, rose 11% over the 12 months ending in April, not adjusted for seasonal swings, the Bureau of Labor Statistics reported Thursday. It was the fifth straight month of double-digit inflation.
However, it was a slowdown from 11.2% recorded in the year ended in March, which had been the biggest jump in prices since the data series began in November 2010. The April number was higher than economists had predicted.

    The PPI showed that between March and April, the average prices that America’s producers were paid for their goods and services increased by 0.5%. It was a marked deceleration from the previous month, when prices rose by 1.6%.

      Stripping out more volatile prices for food, energy and trade services, the PPI rose 6.9% in the year ended in April. For the month alone, the so-called core prices rose 0.6%, less than in the prior month.

        On Wednesday, the latest Consumer Price Index showed a similar dynamic: Prices remained elevated, but the pace of the increase slowed compared with March.
        This is a developing story. It will be updated.

          AmerisourceBergen Declines 7%

          AmerisourceBergen Corp. (ABC) shares are declining more than 7 percent on Thursday morning. This, despite the company announcing that it will resume share repurchase with excess free cash flow.

          the company also plans to pay down $2 billion in debt within two years of the June 2021 acquisition of Alliance Healthcare.

          In another development, on Wednesday, Walgreens Boots Alliance had said it sold 6 million shares of AmerisourceBergen at $150 per share while saying the sale has no impact on the long-term partnership between the two companies.

          Currently, shares are at $148.91, down 7.68 percent from the previous close of $161.30 on a volume of 1,658,098. For the 52-week period, the shares have traded in a range of $111.34-$167.19 on average volume of 1,297,119.

          ‘On the Count of Three’ Review: Friends to the End

          Jerrod Carmichael’s directing debut is a buddy comedy about a suicide pact.

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          By A.O. Scott

          European Economics Preview: UK GDP Data Due

          Quarterly national accounts, industrial production and foreign trade from the UK are due on Thursday, headlining a light day for the European economic news.

          At 2.00 am ET, the Office for National Statistics releases UK GDP data. The economy is forecast to grow at a slower pace of 1.0 percent sequentially in the first quarter after rising 1.3 percent in the preceding period.

          Also, industrial production and foreign trade figures are due. Economists expect industrial output to grow 0.1 percent on month in March, reversing a 0.6 percent fall in February. The visible trade deficit is seen at GBP 18.5 billion in March versus a GBP 20.59 billion in the previous month.

          In the meantime, Statistics Sweden publishes consumer price data for April. Consumer prices are forecast to advance 6.1 percent after rising 6.0 percent in March.

          Half an hour later, Swiss producer price figures are due.

          At 6.00 am ET, the Central Statistics Office releases Ireland’s consumer price data for April.

          Signature Bank Decline Continues

          Signature Bank (SBNY) shares are down more than 4 percent on Thursday morning trade, continuing a decline since May 4. There were no corporate announcements on the day to influence the stock movement.

          Currently, shares are at $186.88, down 4 percent from the previous close of $194.50 on a volume of 1,436,890. The shares have traded in a range of $179.05-$374.76 on average volume of 905,083 for the last 52 week period.

          Herald morning quiz: May 13

          Test your brains with the Herald’s morning quiz. Be sure to check back on for the afternoon quiz.

          To challenge yourself with more quizzes, CLICK HERE.

          BRC Slips 4% On Q1 Loss

          Shares of coffee company BRC Inc. (BRCC) are down 4 percent on Thursday’s trading after the company reported loss in the first quarter.

          The company posted net loss of $62.9 million, compared to net income of $149 million a year ago. On a per share basis, net loss was $1.36. On average, 9 analysts polled by Thomson Reuters expected loss of $0.03 per share in the quarter.

          Quarterly revenues, however, rose 35 percent to $65.8 million from $48.8 million last year.

          Currently at $10.09, the stock has traded between $8.81 and $34.00 during the past 52 weeks.

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