Open Market Operations: How the Fed and the Desk Steer Rates
Learn how Fed Open Market Operations work, how the New York Fed Desk trades with primary dealers, and how permanent vs. temporary repos steer interest rates.
Market Education
Learn how stocks, bonds and capital markets work. Explore plain-English explanations, worked examples and charts, then follow related coverage to connect market concepts with current events. Find your way around ECMSource.
Darden Q1 Sales Hit $3.2B as LongHorn Outpaces Olive Garden
Darden reported Q1 FY2027 sales of $3.2B, led by 6.2% LongHorn same-store growth, while reaffirming full-year EPS guidance of $11.10 to $11.35.
Shelf Registration Explained: Form S-3, Rule 415, and Takedowns
Learn how SEC Rule 415 and Form S-3 shelf registrations work, from base prospectuses and WKSI rules to shelf takedowns and dilution mechanics.
Costco Q4 Net Sales Hit $93.9B as Membership Renewals Top 92%
Costco reported Q4 net sales of $93.9B and $6.75 diluted EPS, propelled by a 92.3% renewal rate in the US and Canada and a 19.5% digital sales jump.
Clean Price vs. Dirty Price: How Bond Accrued Interest Works
Learn the difference between clean price and dirty price in bond trading, how accrued interest is calculated, day-count conventions, and IRS tax treatment.
Oracle Invokes Force Majeure on $165B Project Jupiter AI Site
Oracle issued a force majeure notice to developer Blue Owl Capital over its $165B Project Jupiter data center in New Mexico following pipeline permit delays.
Capped Call Transactions Explained: How Companies Offset Dilution
Learn how capped call transactions work in convertible bond offerings, how lower and cap strikes offset equity dilution, and why dealers delta-hedge.
Stitch Fix Q4 Revenue Hits $324M as Checkout Glitch Dents FY27
Stitch Fix reported Q4 revenue of $324.4 million, but shares dropped after hours as an August checkout glitch and shipment shifts clouded its FY27 outlook.
Adjustable-Rate Mortgages Explained: SOFR, Margin, Caps
Understand how adjustable-rate mortgages (ARMs) reset after the fixed period, including SOFR index calculation, lender margins, rate caps, and payment math.
Cintas Posts Record $3.01B Q1 Revenue, Raises FY27 Guidance
Cintas reported fiscal Q1 2027 revenue of $3.01B, up 10.9%, operating margin of 23.6%, and raised full-year guidance while pursuing its UniFirst buyout.