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SmileDirectClub Inc. shares plummeted in the extended session Friday after the company said it had voluntarily filed for Chapter 11 bankruptcy protection as founders seek to recapitalize the teeth-straightening business. SmileDirectClub shares SDC, -6.64%, which had been halted while up 0.9% in after-hours trading pending news, promptly dropped as much as 85% when trading in
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Blackstone, the biggest owner of commercial real estate in the world, is placing its bets on the student housing rental market as demand surges worldwide. “Student housing is, I think where the opportunity is most specifically generating a lot of strong cash for us and our investors,” as universities seek more accommodations to satisfy growing
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In line with my previous predictions calling for an e-commerce rebound in the second half of this year, it appears that the e-commerce sector is recovering. In a note to investors in July, investment advisor Bernstein wrote, “with (foreign exchange) headwinds abating and a more durable online consumer, count us in that camp of anticipating further eCommerce recovery.” The firm
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Cannabis stocks are benefitting from a resurgence of interest as it becomes increasingly likely that it will be rescheduled legally. Less stringent legal codes will open up new opportunities, especially tax benefits, to cannabis companies. The loosening of regulations promises to raise all ships, so to speak. However, it will remain wise to avoid those cannabis firms that
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Citi analyst Keith Horowitz on Friday initiated coverage of four major regional banks with glowing marks for Huntington Bancshares, Zions Bancorp and KeyCorp, as a mixed third-quarter for bank stocks comes to a close on Friday. With one trading day left in the quarter, Horowitz said the sector offers an “attractive entry point” for investors.
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After rival running-shoe makers put Nike Inc. on defense this year and overall demand remained subdued, executives for the athletic-gear giant on Thursday said shopper enthusiasm for sneaker-buying could be getting a bit better. That could mean more expensive shoes and clothes for customers, as sellers lay off price cuts intended to juice demand. But
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