December 17, 2021
In a positive development for the housing market, builder confidence has increased as mortgage rates have come down from multi-year highs. The National Association of Home Builders reported a 3-point increase in its monthly confidence index for December, marking the first improvement in several months.
VF Corp Faces Cybersecurity Breach
Shares of VF Corp, the well-known seller of North Face and Vans products, saw a sharp decline after it announced the detection of a cybersecurity breach in its systems on December 13. The company believes that this breach will have a significant impact on its business operations moving forward.
Southwest Airlines Fined for Consumer Protection Violations
Following last year's holiday meltdown, Southwest Airlines is expected to face a civil penalty of $140 million. The U.S. Department of Transportation found that the airline had violated consumer protection laws during that period.
Nike Prepares for Earnings Announcement
Ahead of its upcoming earnings report, Nike shares experienced a slight decline. However, analysts at research firm Placer.ai note that customer traffic trends suggest a positive sales performance for the sneaker giant.
