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Wall Street Breakfast

Wall Street Breakfast June 30: Turbulent Oil, Gas Markets to Persist 'For Some Time to Come,' Shell CEO says

Wall Street Breakfast

Seeking Alpha

Business, Investing, Business News, News

3.8950 Ratings

🗓️ 30 June 2022

⏱️ 8 minutes

🧾️ Download transcript

Summary

Turbulent oil, gas markets to persist 'for some time to come,' Shell CEO says. Freddie Mac to accept rent payment history in mortgage application process. Grayscale sues SEC after its spot Bitcoin ETF is rejected. Catch today’s WSB article here.

Transcript

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0:00.0

Welcome to Seeking Alpha's Wall Street breakfast, your daily source of market news and analysis.

0:06.8

Subscribe to this podcast on Apple Podcast, Spotify or Stitcher.

0:11.3

Good morning. Today is Thursday, June 30th, and I'm your host Julie Morgan.

0:15.8

Our top stories, Grayscale, rent, and turbulence, and later spirit, unity,Rocz and Lamas.

0:24.0

Ahead of the opening bell today, Dow S&P and NASDAQ futures are down and all by more than

0:30.0

1%. The Dow is down 1.1%, the S&P is down 1.3%, and the NASDAQ is down 1.4%.

0:38.4

We'll get another look at futures as well as the world markets, crude oil, and commodities in a few minutes.

0:45.0

In the earnings spotlight today, Constellation Brands, Walgreens Boots Alliance, and

0:51.3

Micron.

0:52.3

In our day watch, the release of Boots Alliance and De Micron.

0:59.0

In our day watch, the release of quarterly results allowed General Mills to set a new 52-week high. Shares also received a support from a raised dividend, ending the session higher by more than 6%.

1:04.8

GIS reported a quarterly profit that beat expectations by more than 10%.

1:10.1

Sales also exceeded expectations rising 8% to 4.89 billion dollars.

1:16.0

GIS raised its dividend to 6%.

1:19.0

Based on the earnings report, GIS rallied $4.43 to close at $74.72.

1:26.4

The advance added to a recent upswing

1:28.8

with the stock pushing above its previous 2022 closing peak.

1:32.9

Shares which have climbed about 11% year to date

1:36.0

also established a new intra day 52 week high of $75.

1:41.8

Disappointed earnings and a major leadership shakeup sparked selling in bed bath and beyond.

1:47.0

The home products retailers saw its stock plunge almost 24% after announcing the departure of its CEO.

1:53.0

The company revealed that Chief Executive Mark Tritten will step down from his position with independent board members Sue Gove taking over on an interim basis.

...

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