Category: Blog
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Retail Sales in December Dropped 1.1%, November Revised Down
Keep in mind November and December are prime holiday consumer spending months. With inflation being high it would be natural for sales numbers to be up because of the higher prices of goods and services. This is a double whammy. Retail sales, a measure of purchases at stores, restaurants and online, declined a seasonally adjusted…
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Microsoft laying off 10,000
Microsoft Corp. (MSFT) said it was laying off 10,000 employees, becoming the latest tech titan to announce an additional round of cuts amid concerns about the health of the global economy. Microsoft Lays off 10,000 as Slowdown Hits Software Business – WSJ
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Johnson & Johnson cuts production of its COVID-19 vaccine
The New Brunswick, N.J., pharmaceutical company in recent months terminated manufacturing agreements with companies that helped produce the shot during the pandemic such as Catalent Inc. and Sanofi SA. Meanwhile, a partnership with rival Merck & Co. to help make the shots, forged at the urging of the U.S. government, hasn’t lived up to expectations. The companies are now engaged in arbitration. …
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Closed-end funds hit hard by down market
A Pacific Investment Management Co. California municipal-bond fund slashed dividends by 45% this month, while a Nuveen LLC stock fund endured a 7% cut. Eaton Vance Management in November cut distributions across six stock funds by as much as 24%. Six BlackRock muni funds endured at least two payout cuts last year, with dividends falling by as much as…
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Plains GP Holdings (PAGP) raises dividend 23%
PAGP announced a corresponding quarterly cash distribution of $0.2675 per Class A share ($1.07 per Class A share on an annualized basis), which also reflects a $0.05 increase from the distribution paid in November 2022 ($0.20 per unit increase, or 23%, on an annualized basis). Yahoo!
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Omega Healthcare dividend on the bubble?
Tuesday Omega Healthcare Investors (OHI) issued an investor presentation that contained a warning of a decline in cash flow in the first quarter of 2023. The company proposed restructuring two large tenants, LaVie and Mapelwood because they are not covering rent obligations. As a result, Omega will be divesting 11 LaVie properties and placed Maplewood…