Still, there is a chance the checks many retirees rely on to pay the bills could be delayed or temporarily reduced should the government default on its obligations for the first time since the U.S. Treasury was established in 1789. If the checks are held up, the federal debt ceiling crisis could trigger household financial crises.
Crypto Companies Test the Public Markets
The 2023 market rebound is enabling some crypto companies to explore an option that appeared off the table just six months ago: trying to go public.
Bitcoin-mining company Bitdeer Technologies listed on the Nasdaq last month after merging with a special-purpose acquisition company, or SPAC, a blank-check company so called for its use in helping businesses access public markets with fewer strings attached. Blockchain company Chia Network recently took another step toward going public, while cloud-mining company BitFuFu and crypto cash-machine company Bitcoin Depot are working on plans to go public via SPAC mergers.
Young Cyber Companies Face Uncertain Economy
Newer cybersecurity companies are grappling with uncertain economic conditions as they find it harder to raise capital, continue to trim their workforces and refocus on profits after long periods of chasing growth.
Fed by a glut of venture-capital investment, many private cybersecurity providers hired widely and expanded their operations significantly in recent years. Some have had to change direction quickly this year, as global economies soured and interest rates rose sharply. Staff numbers have often been the first casualty.
Trump Loss in Sexual-Abuse Case Casts Another Legal Cloud Over 2024 Bid
A federal jury verdict holding Donald Trump liable for sexual abuse and defamation has injected new uncertainty into the 2024 presidential race, testing whether voters and Republican allies will stick with him through another controversy.
Tuesday's decision on the allegations by columnist E. Jean Carroll marked the second time this year Mr. Trump has faced a significant legal setback, following an April indictment on charges in New York related to hush-money payments to a porn star. Ms. Carroll's allegations-and those of other women who have accused Mr. Trump of misconduct over the years-could be on the agenda Wednesday night, when he is scheduled to participate in a CNN town hall in New Hampshire.
George Santos Charged in Justice Department Probe
Federal prosecutors have filed criminal charges against Rep. George Santos, the embattled New York congressman who assumed office this year after lying about his biography during his campaign, according to people familiar with the matter.
Details of the criminal charges, which have been filed under seal, couldn't immediately be determined, but Mr. Santos has been under federal investigation since at least December. He also faces scrutiny from a number of other entities, including local prosecutors in New York and the House Ethics Committee. Mr. Santos has faced accusations he engaged in unlawful activity during his 2022 campaign and failed to disclose required information.
Write to paul.larkins@dowjones.com TODAY IN CANADA
Earnings - 1Q unless stated otherwise:
Ballard Power
BELLUS Health
Birchcliff Energy
Boralex
Boyd
Bragg Gaming
Brookfield Asset Mgmnt
Calian 2Q
CareRx
CCL Indus
Chemtrade Logistics
Copperleaf Tech
Endeavour Silver
Fiera Capital
Filo Mining
GDI Integrated Facility
Home Capital
iA Fincl
Intact Fincl
Largo
Linamar
Lundin Gold
MAG Silver
Manulife Financial
NanoXplore 3Q
Nutrien
Nuvei
Osisko Gold Royalties
Osisko Mining
Pan American Silver
Parex Resources
Payfare
Profound Medical
Ritchie Bros
Sandstorm Gold
Savaria
Stantec
Stella-Jones
SunOpta
Torex Gold Resources
Wesdome Gold Mines
WSP Global
Economic Calendar (ET):
0830 Building Permits
Stocks to Watch:
AirBoss 1Q EPS 5c
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Imperial Metals 1Q Rev C$92.7M; 1Q Loss/Shr C$0.05; 1Q Adj Loss/Shr C$0.05
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Maxim Power 1Q EPS 14c; 1Q Net $7.75M; 1Q Rev $0.00
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Mountain Province Diamonds 1Q EPS C$0.13; 1Q Sales C$128.7M
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Northland Power 1Q EPS C$0.27; 1Q Net C$107M; 1Q Sales C$622M
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Orezone Gold 1Q Rev $81.7M; 1Q EPS 6c; 1Q Adj EPS 7c
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Supremex 1Q EPS C$0.37; 1Q Rev
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Triple Flag 1Q EPS 9c; 1Q Net $16.5M; 1Q Rev $50.3M
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WildBrain 3Q Rev C$140.9M; 3Q Basic EPS C$0.11
Expected Major Events for Wednesday
05:00/JPN: Mar Indexes of Business Conditions - Preliminary Release
06:00/GER: Apr CPI
08:00/ITA: Mar Industrial Production
11:00/US: 05/05 MBA Weekly Mortgage Applications Survey
12:30/US: Apr CPI
12:30/CAN: Mar Building permits
12:30/US: Apr Real Earnings
14:00/US: Apr Online Help Wanted Index
14:30/US: 05/05 EIA Weekly Petroleum Status Report
18:00/US: Apr Monthly Treasury Statement of Receipts and Outlays of the U.S. Government
23:01/UK: Apr RICS Residential Market Survey
23:50/JPN: Apr Bank Lending
23:50/JPN: Mar Balance of Payments
23:50/JPN: Apr International Transactions in Securities
All times in GMT. Powered by Onclusive and Dow Jones.
Expected Earnings for Wednesday
Advantage Solutions Inc (ADV) is expected to report for 1Q.
Aeglea BioTherapeutics Inc (AGLE) is expected to report $-0.18 for 1Q.
Amicus Therapeutics Inc (FOLD) is expected to report $-0.14 for 1Q.
Audacy Inc (AUD) is expected to report for 1Q.
Babcock & Wilcox Enterprises Inc (BW) is expected to report for 1Q.
Ballard Power Systems (BLDP,BLDP.T) is expected to report $-0.17 for 1Q.
Brink's Co (BCO) is expected to report $0.61 for 1Q.
CEVA Inc (CEVA) is expected to report $-0.06 for 1Q.
CF Bankshares Inc (CFBK) is expected to report for 1Q.
CURO Group Holdings Corp (CURO) is expected to report $-1.04 for 1Q.
Corsair Gaming Inc (CRSR) is expected to report for 1Q.
European Wax Center Inc (EWCZ) is expected to report for 1Q.
Everi Holdings Inc (EVRI) is expected to report $0.22 for 1Q.
Fiera Capital is expected to report $0.05 for 1Q.
First Citizens Bancshares Inc. Cl A (FCNCA,FCNCB) is expected to report $19.13 for 1Q.
GCM Grosvenor Inc (GCMG) is expected to report for 1Q.
Global Net Lease Inc (GNL) is expected to report $-0.02 for 1Q.
GoodRx Holdings Inc (GDRX) is expected to report for 1Q.
Hecla Mining Company (HL) is expected to report $0.02 for 1Q.
Home Capital (HCG.T) is expected to report $0.99 for 1Q.
IES Holdings Inc (IESC) is expected to report for 2Q.
Icahn Enterprises LP (IEP) is expected to report $0.32 for 1Q.
LifeStance Health Group Inc (LFST) is expected to report for 1Q.
Melco Resorts & Entertainment Ltd (MLCO) is expected to report $-0.03 for 1Q.
Necessity Retail REIT Inc (RTL) is expected to report for 1Q.
Nuvei is expected to report for 1Q.
ODP Corp (ODP) is expected to report for 1Q.
Oncorus Inc (ONCR) is expected to report for 1Q.
Reynolds Consumer Products Inc (REYN) is expected to report for 1Q.
Roblox Corp (RBLX) is expected to report for 1Q.
Sphere Entertainment Co (SPHR) is expected to report for 3Q.
Syneos Health Inc (SYNH) is expected to report $-0.11 for 1Q.
TVI Pacific Inc (TVI.V,TVIPF) is expected to report for 4Q.
The New York Times Company (NYT) is expected to report $0.17 for 1Q.
Townsquare Media Inc (TSQ) is expected to report $0.05 for 1Q.
Tupperware Brands Corp (TUP) is expected to report $0.92 for 1Q.
Valvoline Inc (VVV) is expected to report $0.22 for 2Q.
Vericel Corp (VCEL) is expected to report $-0.15 for 1Q.
Vertex Inc (VERX) is expected to report for 1Q.
Vishay Intertechnology (VSH) is expected to report $0.49 for 1Q.
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ANALYST RATINGS ACTIONS
AdaptHealth Cut to Neutral From Buy by B of A Securities
Albemarle Raised to Sector Outperform From Sector Perform by Scotiabank
Codexis Cut to Neutral From Buy by HC Wainwright & Co.
Energy Recovery Raised to Buy From Hold by Fearnleys
Maravai LifeSciences Cut to Neutral From Buy by Goldman Sachs
Nabors Cut to Equal-Weight From Overweight by Barclays
PayPal Holdings Cut to Neutral From Outperform by Credit Suisse
Shoals Technologies Raised to Outperform From Market Perform by Northland Capital Markets
Skyworks Cut to Market Perform From Outperform by BMO Capital
Westlake Cut to Sell From Hold by Tudor Pickering
XPO Logistics Cut to Hold From Buy by Stifel
This article is a text version of a Wall Street Journal newsletter published earlier today.
(END) Dow Jones Newswires
05-10-23 0615ET
