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How major US stock indexes fared Wednesday, 8/16/2023

Published Tue, 25 Feb 2025 02:04:41 GMT

Wall Street’s weak August worsened Wednesday, as the major stock indexes racked up more losses. The S&P 500 fell 0.8%, the Dow dropped roughly 180 points, and the Nasdaq slid 1.2%. Increased pressure came from the bond market, where yields have neared their highest levels since the Great Recession. Yields climbed more following the release of the minutes from the Federal Reserve’s latest meeting. The Fed appears unsure about its next move on interest rates. Hopes had been rising that last month’s rate hike would prove to be the Fed’s last. On Wednesday:The S&P 500 fell 33.53 points, or 0.8%, to 4,404.33.The Dow Jones Industrial Average fell 180.65 points, or 0.5%, to 34,765.74.The Nasdaq composite fell 156.42 points, or 1.2%, to 13,474.63.The Russell 2000 index of smaller companies fell 24.24 points, or 1.3%, to 1,871.52.For the week:The S&P 500 is down 59.72 points, or 1.3%.The Dow is down 515.66 points, or 1.5%.The Nasdaq is down 170.22 points, or 1.3%.The Russell 2000...

Wolfspeed: Fiscal Q4 Earnings Snapshot

Published Tue, 25 Feb 2025 02:04:41 GMT

DURHAM, N.C. (AP) — DURHAM, N.C. (AP) — Wolfspeed, Inc. (WOLF) on Wednesday reported a loss of $113.3 million in its fiscal fourth quarter.On a per-share basis, the Durham, North Carolina-based company said it had a loss of 91 cents. Losses, adjusted for stock option expense and non-recurring costs, were 42 cents per share.The results fell short of Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for a loss of 20 cents per share.The maker of energy-efficient lighting posted revenue of $235.8 million in the period, topping Street forecasts. Eight analysts surveyed by Zacks expected $223.4 million.For the year, the company reported a loss of $329.9 million, or $2.65 per share. Revenue was reported as $921.9 million.For the current quarter ending in September, Wolfspeed expects its results to range from a loss of 75 cents per share to a loss of 60 cents per share.The company said it expects revenue in the range of $220 million to...

Okoye’s journey: Chargers defensive lineman from Nigeria records a sack in his first football game

Published Tue, 25 Feb 2025 02:04:41 GMT

COSTA MESA, Calif. (AP) — Imagine never having played cricket before and then taking a wicket in an Indian Premier League match your first time out, or never seeing a rugby match in person and scoring a try in Australia’s National Rugby League.That might give you a better understanding of what CJ Okoye did Saturday night.The 21-year-old defensive lineman from Nigeria recorded a sack in his first organized football game at any level during the Los Angeles Chargers’ 34-17 victory over the Rams. Okoye chased down Stetson Bennett for a 16-yard loss late in the fourth quarter.“It was an amazing moment for me,” Okoye said. “It was amazing seeing my teammates and my D-line room go crazy like that. I wish to go back there again.” Okoye came to the Chargers this year through the NFL’s International Pathway Program, which was established in 2017 to increase the number of international players in the league. While he had shown enough to be allocated to an NFL team, he hadn’t played organ...

Off-duty LA County deputy fatally shot by police at golf course

Published Tue, 25 Feb 2025 02:04:41 GMT

FONTANA, Calif. (AP) — An off-duty Los Angeles County sheriff’s deputy was fatally shot in an encounter with police officers at a Southern California golf course, authorities said.The shooting of Alejandro Diaz, 45, by local officers occurred Tuesday at the Sierra Lakes Golf Club in the city of Fontana, about 45 miles (72 kilometers) east of Los Angeles. The San Bernardino County Sheriff’s Department is heading the investigation under a standing agreement with the Fontana Police Department.The Los Angeles County Sheriff’s Department said it was in contact with the Fontana and San Bernardino County departments.“The Los Angeles County Sheriff’s Department is deeply saddened to hear of the tragic shooting incident involving our off-duty deputy who passed away,” the department said in a statement. “This incident is extremely difficult for the family, our personnel, and the officers involved.”Fontana police reportedly went to the golf course on a call of shots fired.Fontana p...

Cisco: Fiscal Q4 Earnings Snapshot

Published Tue, 25 Feb 2025 02:04:41 GMT

SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — Cisco Systems Inc. (CSCO) on Wednesday reported fiscal fourth-quarter net income of $3.96 billion.On a per-share basis, the San Jose, California-based company said it had net income of 97 cents. Earnings, adjusted for stock option expense and non-recurring costs, came to $1.14 per share.The results surpassed Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.06 per share.The seller of routers, switches, software and services posted revenue of $15.2 billion in the period, also exceeding Street forecasts. Ten analysts surveyed by Zacks expected $15.05 billion.For the year, the company reported profit of $12.61 billion, or $3.07 per share. Revenue was reported as $57 billion.For the current quarter ending in October, Cisco expects its per-share earnings to range from $1.02 to $1.04.The company said it expects revenue in the range of $14.5 billion to $14.7 billion for ...

Nicaraguan government seizes highly regarded university from Jesuits

Published Tue, 25 Feb 2025 02:04:41 GMT

MEXICO CITY (AP) — The Jesuits announced Wednesday that Nicaragua’s government has confiscated the University of Central America in Nicaragua, one of the region’s most highly regarded colleges.It was the latest in a series of expulsions, closures and confiscations by the regime of President Daniel Ortega targeting the Roman Catholic Church and opposition figures. The order, known as the Society of Jesus, said the government seized all the university’s property, buildings and bank accounts. It quoted the government as claiming the university “operated as a center of terrorism.” The Jesuits say the accusation is unfounded.“With this confiscation, the Ortega government has buried the freedom of thought in Nicaragua,” said María Asunción Moreno, who was a professor at the university until she was forced into exile in 2021.In April, the Vatican closed its embassy in Nicaragua after the country’s government proposed suspending diplomatic relations.Two congregations of nu...

16 downtown Denver office buildings considered for housing conversions

Published Tue, 25 Feb 2025 02:04:41 GMT

DENVER (KDVR) -- Downtown Denver could have a new feel in a few years if the city's analysis of office buildings that could be converted into housing is followed.The study found 21 buildings that are considered "good candidates" for conversion based on walkability, natural light, parking, building age and potential unit count. This was later narrowed down to 16 by the architecture firm Gensler, which the city partnered with for this project. Downtown Denver only has a little more than half its pre-COVID foot traffic The funding for the study came from the American Rescue Plan Act, which was passed by Congress in 2021 as a COVID-19 economic stimulus bill. “If the top 16 buildings from Denver’s analysis were converted to residential uses, this could add over 5,000 units to our downtown neighborhood,” said Jon Gambrill, managing director of Gensler’s Denver office, in a news release. “This would also convert upwards of 4.3 million square feet of office space to new resident...

Rockies legend Todd Helton honored with jersey giveaway this weekend

Published Tue, 25 Feb 2025 02:04:41 GMT

DENVER (KDVR) -- This weekend at the Colorado Rockies game against the Chicago White Sox, 17,000 lucky fans will be gifted a Todd Helton jersey.Helton was the first baseman for the Colorado Rockies for 17 years and garnered some pretty impressive statistics as the Rockies franchise leader in games, hits, home runs and RBI's. Colorado Rockies first baseman Todd Helton misses Hall of Fame nod again He earned a spot on the All-Star team five times and won several awards including four Silver Sluggers and three Golden Gloves to name a few.In the 2,247 games played in his career, Helton cranked a total of 369 home runs and finished with a .316 batting average. He retired in 2013, and his jersey number, 17, became the first to ever be retired in the Rockies franchise in 2014. For several years, Helton has been eligible for the Baseball Hall of Fame but has fallen short. Earlier this year, he missed the mark by just 11 votes.This Saturday, the first 17,000 fans to enter Coors Field will ...

Denver buys Central Park motel to convert into housing for homeless

Published Tue, 25 Feb 2025 02:04:41 GMT

DENVER (KDVR) — Denver has bought another motel that will be converted into housing for the homeless.Mayor Mike Johnston made the announcement in a Wednesday news conference. Johnston has been giving regular updates on homelessness since he took office and declared a state of emergency over the issue. Where do Denver restaurants get their seafood? The Stay Inn, in the Central Park neighborhood, will have 100 new units of housing for people, the mayor said. Johnston thanked U.S. Rep. Diana DeGette for her efforts to get federal funding for the $9 million conversion project. DeGette's office has said the federal contribution was $2 million.The conversion project has been in the works for years. Located just southwest of Interstate 70 and Peoria Street, Denver leaders have said the Stay Inn will be converted to offer supportive housing with services on site.Denver City Council approved the purchase in January. The city has said most rooms in the four-story hotel were updated recently...

Jamal Murray won't be able to play for Canada at World Cup

Published Tue, 25 Feb 2025 02:04:41 GMT

ABU DHABI, United Arab Emirates (AP) — Jamal Murray of the NBA champion Denver Nuggets announced Wednesday that he will not play for Canada in the World Cup, citing a need for ongoing recovery after a long season.Murray was in camp with the Canadian team earlier this month, but he did not accompany the team to Germany and Spain for its exhibition games that will precede the World Cup while weighing his options. Rockies legend Todd Helton honored with jersey giveaway this weekend “When I came into training camp, I wanted to see how my body would respond after a long and demanding season and if I would be physically able to compete at the highest level required for the World Cup,” Murray said in a statement distributed by Canada Basketball. “In consultation with medical staff and the team, it is clear that additional recovery is required, and I have made the difficult decision to not participate in the tournament.”Murray said he still considers it “a dream of mine to represent Canad...