Illegal-immigration surge has cost these swing-state taxpayers billions, study says
Immigration boosts federal tax revenue, but states and localities bear unique costs. Source link...
MARKET
The ‘short volatility’ trade has finally blown up. Why investors probably aren’t waiting to pile back in.
For years, sophisticated traders reaped huge returns through bets that would pay off if the Cboe Volatility index, known as the VIX of Wall Street’s “fear gauge,” declined. Source link...
CVS’s stock falls as the healthcare-benefits business continues to hurt profits
CVS’s CEO said the company is “taking action” to address its challenges, including making leadership changes in some business segments. Source link...
IHOP parent Dine Brands’ stock dips after revenue miss and lowered sales guidance
The parent of Applebee’s and IHOP had a better-than-expected profit in its latest quarter but revenue fell short. Source link...
Hilton’s softer-than-expected outlook overshadows strong second-quarter results
Hilton Worldwide Holdings Inc.’s stock fell 2.3% Wednesday after the hotel giant issued a third-quarter outlook for adjusted earnings that fell short of Wall Street analyst estimates. Source link...
Consumers feel frustrated with the housing market. Buying a house is unaffordable, Fannie Mae says.
Consumers are feeling frustrated by the housing market as home prices march to new heights, a new survey says. Source link...
Super Micro gave a whopping revenue forecast. Here’s why that’s not enough.
Analysts note “intensifying” cash burn and “materially softer” margins for the server maker. Source link...
Warner Music’s stock rises after profit matches estimates despite small revenue miss
Warner Music Group Corp.’s stock rose 3% premarket Wednesday, after the company matched profit estimates for the second quarter, offsetting a small revenue miss. Source link...
This Wall Street firm had warned of a summer pullback. Now it has a shopping list, which includes Apple.
Citigroup warned of a summer pullback. Now that one arrived, it offers a list of stocks to buy. Source link...
Lyft swings to a profit on record rides, but its earnings outlook comes in light
Lyft turned its first GAAP profit in its latest quarter, while reporting a record number of rides and its largest quarterly haul of new drivers in years. Source link...
