Karishma Vanjani

Stocks pushed lower and the bond market sold off sharply on Thursday, after fresh data showed inflation is still high while the economy is slowing. The Dow Jones Industrial Average fell 536 points or 1.

The Dow Jones Industrial Average was selling off sharply shortly after the open on Thursday. International Business Machines and Caterpillar led the losses. The Dow was down 663 points on Thursday, or 1.7%.

U.S. tech stocks rebounded Thursday afternoon from early morning lows. The iShares U.S. Technology exchange-traded fund, which offers exposure to U.S. electronics, computer software, and hardware companies, was down 0.

Charter Communications stock was falling Friday morning as the cable giant posted close to no revenue growth in the first quarter and profit came in below estimates. The stock was down 3.1% to $251.20 in premarket trading. Charter, which offers pay TV services and Spectrum Internet, said it made $7.55 a share in adjusted earnings in the first quarter compared with a consensus of $7.86 among analysts polled by FactSet.

Charter Communications stock fell on Friday, after the cable giant’s earnings missed analysts estimates’ and it posted close to no revenue growth in the first quarter. Early Friday morning, Charter, which offers pay TV services and Spectrum Internet, reported $7.55 a share in adjusted earnings, below the consensus estimate of $7.86 among analysts polled by FactSet.

AMC Entertainment said its box-office results are still suffering from the effects of last year’s Hollywood strikes but Wall Street analysts remain cautiously optimistic about the movie-theater stock. “A strong rebound coming in the second half of 2024,” she added, continuing to rate the stock at Hold, with a target of $4 for the price.

The seller of mac and cheese, ketchup reported a year-over -year sales decline in the first quarter, following a similar decline in the previous quarter.

The hotel and casino operator MGM Resorts International posted strong revenue and earnings in the first quarter thanks to a surge of business in China. Late Wednesday, MGM reported adjusted earnings of 74 cents for the three months ended March, ahead of the 56 cents expected by analysts surveyed by FactSet Net revenue grew 13%, to $4.4 billion, beating the $4.24 billion consensus. Management attributed the outperformance to demand at higher-end properties in Las Vegas and a recovery at MGM China where revenue grew by 71% in the current quarter to $1.1 billion versus the prior year quarter.

The company makes radio-frequency chips used in iPhones, iPads, Apple Watches, and other wireless devices.

The company makes radio-frequency chips used in iPhones, iPads, Apple Watches, and other wireless devices. Advertisement Advertisement