Econ Recaps
Econ Recaps
Corben Benda
6/6 Recap: Lawsuits Against Automakers Binance and Coinbase, Bud Light Sales Decline, Boeing's Production Flaw.
6 minutes Posted Jun 7, 2023 at 2:56 am.
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The S&P 500 closed slightly higher, with the financial services sector performing well. Dish Network saw an increase in stock due to potential deal negotiations with Amazon. Altria completed the purchase of NJOY as part of its smoke-free initiative. Hyundai and Kia are being sued by several cities for allegedly making cars easy to steal. Bud Light sales have decreased significantly, while Boeing faced a drop in stock due to a production flaw. Netflix is predicted to gain 9 million paid subscribers, and Coinbase and Binance faced legal action. Dave N Busters beat earnings estimates, while Cracker Barrel missed expectations. Smuckers had increased earnings but declining sales forecasts. Overall, consumer discretionary stocks experienced a sales slowdown.