I have a not-so-fun fact for y’all this morning.
Dean Baker, senior economist at the Center for Economic and Policy Research, tweeted out a sobering statistic following jobless claims.
He said, “unemployment insurance claims still 130,000 higher than [the] worst week of the Great Recession.”
The Labor Department reported that 793,000 Americans filed for first-time jobless benefits in the week ending Feb. 6, which is down from an upwardly revised 812,000 claims the week earlier. Economists polled by FactSet had expected claims of 757,000.
Live at 10:30 a.m. ET, in Thursday’s market breakdown, Jim Cramer talks semiconductors, Zillow (ZG) – Get Report, Bumble, Uber (UBER) – Get Report, PepsiCo (PEP) – Get Report, Mastercard (MA) – Get Report and more:
Ready for a red hot IPO?
Bumble (BMBL) – Get Report priced its IPO at $43 a share, which is above the initial range of $37 to $39 a share. The company, which is focused on empowering women, will trade on the Nasdaq under ticker BMBL.
The company has, so far, raised around $2.15 billion.
Let’s talk earnings.
PepsiCo (PEP) – Get Report reported net income of $1.85 billion, or $1.33 a share, compared with $1.77 billion, or $1.26 a share, a year ago. Excluding nonrecurring items, earnings were $1.47 a share, ahead of analysts’ estimates of $1.46.
And revenue increased 8.8% to $22.5 billion, beating the FactSet consensus of $21.8 billion.
“We ended the year on a strong note with our global beverage business having accelerated while our global snacks and food business remained resilient in the fourth quarter,” CEO Ramon Laguarta said in a statement.
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