The University of Michigan releases its preliminary index of consumer sentiment for June. The Refinitiv estimate is 58.0, down from May’s final reading of 58.
4 which was the lowest in almost 11 years as persistently high inflation soured the mood of consumers.plunged 16% after hours. The company is cutting around 15% of salaried positions as part of a plan to return to profitability. The layoffs come to around 330 positions. The company forecasted net revenue for the fourth quarter that is short of estimates.
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