Cal-Maine Foods, the largest U.S. egg producer, increased its revenue 109% while only selling 1% more eggs during the quarter ending February 25, 2023.
U.S. stocks plummeted Wednesday morning after bank concerns reached European markets, while investors are warning that the banking situation could worsen after the closures of Silicon Valley Bank and Signature Bank over the weekend.
CNBC analyst Jim Cramer is once again being pilloried on social media after a clip resurfaced showing the “Mad Money” host recommending viewers buy shares of Silicon Valley Bank’s parent company, which owns the tech-driven commercial lender that swiftly collapsed on Friday.
Home Depot co-founder Bernie Marcus believes the collapse of Silicon Valley Bank "will finally wake up" Americans to "understand that we’re living in very tough times."
New York-based Signature Bank, with $110.36 billion in assets, has become the third largest bank failure in US history, following the recent collapse of Silicon Valley Bank, but depositors of both banks will be made whole and no losses will be borne by the taxpayer.
The Federal Deposit Insurance Corp. (FDIC) and Federal Reserve are discussing creating a fund to backstop deposits if more banks fail following the collapse of Silicon Valley Bank.
