Tag: MarketWatch

PacWest Bancorp shares PACW rose 12% in premarket trade after the embattled lender late Friday said it was reducing its dividend. “Given current economic uncertainty, recent volatility in the banking sector and potential changes in regulatory capital r…

Warren Buffett said that Berkshire Hathaway doesn’t plan on taking full control of Occidental Petroleum . “There’s speculation about us buying control… We’re not going to buy control,” the 92-year-old legendary investor said at Berkshire’s annual sha…

Used-car April retail sales fell an estimated 8% year-over-year, Cox Automotive said Friday. Average retail listing prices, however, are still trending higher, Cox said. But car buyers might be looking at better news soon: Wholesale used-vehicle prices…

U.S. stocks snapped a four-day losing streak on Friday as a rebound in shares of beaten-down regional banks along with sharp gains in shares of Apple Inc. sent the main indexes sharply higher. However, Friday’s gains weren’t enough to wipe out weekly l…

Western Digital Corp. WDC said Friday a recent hack of its systems contained personal customer information, and that those affected have been alerted. Western Digital said it discovered unauthorized access “to a number of the company’s systems,” on Mar…

Cannabis stocks rose Friday in their second day of big gains. The U.S. Senate committee on banking, housing and urban affairs has scheduled a hearing entitled, “Examining Cannabis Banking Challenges of Small Businesses and Workers” on Thursday at 9:45 …

Shares of meme stock TOP Financial Group Ltd. TOP fell 39.4% Friday amid heavy trading volume. The Hong Kong-based trading firm joined the list of meme stocks last week when its shares skyrocketed more than 890%, spurred on by the WallStreetBets crowd …

U.S. oil futures settled higher on Friday, but still lost over 7% for the week. It remains to be seen whether the rise in oil prices Friday was “just short-covering, or actual buying in the hope that prices have bottomed,” said Fawad Razaqzada, market …

Shares of LivePerson Inc. LPSN were rising 17% Friday after Starboard Value LP said it has nominated a slate of directors for election at the company’s 2023 annual meeting. Starboard disclosed its “involvement” with LivePerson in a February 2022 filing…

Vice Media is close to a deal under which it would be bought out of bankruptcy by Soros Fund Management, Fortress Investment Group and other lenders in a deal valued at $400 million, the Wall Street Journal reported on Friday. The deal, which prices th…

Baker Hughes BKR on Friday reported that the weekly number of active U.S. rigs drilling for oil fell three to 588 this week. The total active U.S. rig count, which includes those drilling for natural gas, declined by seven to 748, according to Baker Hu…

President Joe Biden on Friday talked up the latest jobs report, saying the release’s “really good news is working-age Americans are participating in the labor force at the highest rate in 15 years, not just since the pandemic.” In remarks to reporters …

Shares of Bio-Rad Laboratories Inc. BIO tumbled 17.5% toward their worst day in 36 years, after the maker of products for the life science research and clinical diagnostics markets reported first-quarter results that missed expectations, amid a drop in…

The U.S.-listed shares of Nanobiotix S.A. NBTX blasted 221.7% higher on massive volume Friday, to pace all gainers trading on major U.S. exchanges, after the France-based biotechnology company said it entered into final contract negotiations for the co…

What a difference a day makes, as the shares of PacWest Bancorp PACWskyrocketed toward a record one-day gain Friday, after closing the previous session at a record low. The stock, which has already been halted six times for volatility since the open, p…

The Securities and Exchange Commission on Friday announced an award of nearly $279 million to a whistleblower whose information helped the agency with enforcement. It’s the highest amount in the whistleblower program’s history, the agency said, more th…

Goldman Sachs Group Inc. GS has held talks to settle a class-action lawsuit brought by female employees who allege that the bank promoted male counterparts more and paid women less, The Wall Street Journal reported. Citing people familiar with the situ…

The World Health Organization on Friday declared an end to the COVID-19 global health emergency. Speaking at a press conference in Geneva, WHO director-general Tedros Adhanom Ghebreyesus said he had accepted the advice of an expert committee on the pan…

U.S. stock indexes opened higher on Friday, after four consecutive days of losses, as robust April jobs report tempered fears of an economic slowdown. The Dow Jones Industrial Average gained 376 points, or 1.1%, to 33,504, while the S&P 500 advanced …

Six-month through 30-year Treasury yields jumped on Friday, led by a rise in the 3-year rate, after data showed the U.S. added a better-than-expected 253,000 jobs in April. The 3-year rate rose 16 basis points to 3.608%, while the policy-sensitive 2-ye…

Republic First Bancorp Inc. FRBK said Friday it’s exiting its legacy mortgage origination business because it no longer aligns with the bank’s preference for “shorter duration and better risk-adjusted return asset classes.” The bank said its traditiona…

Shares of FuboTV Inc. FUBO jumped 8.9% in premarket trading Friday, after the live TV streaming platform reported first-quarter results that beat expectations and raised its full-year subscriber outlook and provided an upbeat liquidity view. Net losses…

AMC Entertainment Holdings Inc. AMC shares rose 3.4% in premarket trades Friday, after the movie theater chain and meme stock darling reported better-than-expected first-quarter revenue and adjusted earnings. AMC reported a net loss of $235.5 million, …

Shares of Johnson Controls International PLC JCI jumped 4.4% in premarket trading Friday, after the building products and heating, ventilation and air conditioning (HVAC) company beat fiscal second-quarter earnings expectations and lifted its full-year…

Shares of Warner Bros. Discovery Inc. WBD were falling more than 2% in premarket trading Friday after the media giant trailed expectations with its first-quarter results. The company generated a net loss of $1.1 billion, or 44 cents a share, whereas it…

Shares of Cinemark Holdings Inc. CNK charged up 3.7% toward a nine-month high in premarket trading Thursday, after the movie theater operator reported first-quarter results that beat expectations by wide margins, amid strong growth in theatrical releas…

Shares of Icahn Enterprises L.P. IEP, the investment arm of billionaire activist investor Carl Icahn, jumped 9.6% in premarket trading Friday, putting them on track to snap their worst eight-day stretch in 15 years. The stock’s bounce comes after Icahn…

PacWest Bancorp PACW is up 12.6% in premarket trades on Friday, as it recovered some of its steep losses from the previous session. Western Alliance Bancorp WAL is up 13.3% and First Horizon Corp. FHN is higher by 7.2%. On Thursday in regular trading, …

Shares of Cigna Group CI gained 0.5% in premarket trading Friday, to bounce off the previous session’s 11-month closing low, after the health insurer beat profit and revenue expectations and raised its full-year outlook, even as total customer relation…

Shares of Dropbox Inc. DBX were rising 7% in after-hours trading Thursday after the technology company, which provides storage and collaboration tools, exceeded profit and revenue expectations for the latest quarter. The company logged first-quarter ne…

HSBC Holdings’ HSBC U.S. segment said it has hired four Silicon Valley Bank veterans to strengthen its focus on startups, tech, health care and life sciences. The four bankers will be led by David Sabow, who led technology and healthcare banking at SVB…

Bed Bath & Beyond Inc. BBBY stock rose more than 3% in the extended session Tuesday after the retailer said in a filing it had sold as of Monday about 100.1 million shares for about $48.5 million of net proceeds under an agreement with sales agent B. R…

Consumer-goods giant Procter & Gamble Co. PG on Tuesday said its board had declared an increase in its quarterly dividend of $0.9407 per share — or 3% — on its common stock and on preferred stock in the company. The increased dividend is payable starti…

U.S. stock indexes finished mostly lower after trading in a narrow range on Tuesday as investors awaited key inflation data that could determine whether the Federal Reserve will once again raise interest rates at its meeting in May. The Dow Jones Indus…

Blackstone Inc. BX rose 1.7% Tuesday as financial stocks advanced after it said it drew in $30.4 billion in commitments for Blackstone Real Estate Partners X (BREP X), which it described as the largest real estate and private equity drawdown fund ever…

Oil futures climbed on Tuesday, with U.S. prices settling at their highest since January a day after posting the lowest finish in more than a week. The oil market is “now stuck between two competing narratives,” said Troy Vincent, senior market analyst…

Gold futures climbed on Tuesday to mark a sixth consecutive settlement above $2,000 an ounce. Recent price action “re-confirms that the $2,000 psychological level remains a pivotal point for bulls and bears,” said Lukman Otunuga, manager, market analys…

The U.S. Energy Information Administration lifted its 2023 and 2024 forecasts for U.S. and global benchmark oil prices in a monthly report released Tuesday. The EIA said Brent crude is expected to average $85.01 this year, up 2.5% from the March foreca…

Boeing Co. BA said Tuesday it delivered 130 commercial jets in the first quarter, 37% more than the 95 jets it delivered in the first quarter of 2022. Boeing is slated to report first-quarter earnings on April 26, with FactSet consensus calling for an …

The Democratic National Committee said on Tuesday that Chicago will host the 2024 Democratic National Convention. The Democratic Party seems to be closing ranks behind President Joe Biden as their 2024 nominee, although Marianne Williamson and Robert F…

The Bank of England said Megan Greene will replace Silvana Tenreyro as an external member, for a three-year term starting in July. Greene is currently global chief economist at Kroll and according to the central bank “has a broad understanding of finan…

U.K. mobile network group EE and Microsoft Corp. MSFT signed a 10-year cloud-gaming partnership, according to representatives from both companies Tuesday. In a tweet Tuesday, Xbox head Phil Spencer said the partnership will bring Activision Blizzard In…

U.S. stocks were little-changed at the open on Tuesday as traders await a batch of inflation data along with the informal beginning of the first-quarter corporate earnings season. The S&P 500 SPX gained 5 points, or 0.1%, to 4,114. The Dow Jones Indust…

Tanger Factory Outlet Centers Inc. SKT said Tuesday that it will raise its quarterly dividend by 11.4%, to 24.5 cents a share from 22 cents. The new dividend will be payable on May 15 to shareholders of record on April 28. Based on Monday’s closing pri…

Shares of Innovative Eyewear Inc. LUCY blasted 115.8% higher in active premarket trading Tuesday, after the seller of smart eyewear launched a new Lucyd app that enables a voice interface for ChatGPT. Trading volume spiked up to 7.4 million shares ahea…

Shares of Albertsons Companies Inc. ACI slipped 0.2% in premarket trading Tuesday, after the food and drug retailer, that has agreed to be acquired by Kroger Co. KR, reported fiscal fourth-quarter profit and sales that topped expectations, while saying…

Shares of National CineMedia Inc. NCMI more than doubled in very active trading, after AMC Entertainment Holdings Inc. AMC disclosed that it has taken a large stake in the cinema advertising platform. AMC said late Monday that it owned 16.58 million Na…

Steel producer Cleveland-Cliffs Inc. CLF said Tuesday it expects its first quarter revenue to come to about $5.2 billion, matching the FactSet consensus. The company is expecting steel shipments of 4.1 million net tons. It expects adjusted EBITDA (earn…

Shares of Getty Images Holdings Inc. GETY got a 5.7% boost in premarket trading Tuesday, after activist investor Trillium Capital LLC urged the visual content creator to increase shareholder value by selling the company. Trillium, which said it owned “…

Moderna Inc. MRNA outlined its clinical goals for its mRNA platform on Tuesday to mark its 4th Vaccine Day, including a new development candidate against Lyme disease that would be its first bacterial vaccine. The company, whose first product to be app…

Tilray Brands Inc. TLRYCA:TLRY stock is down 8% in premarket trades Tuesday after the cannabis company posted a wider-than-expected loss, missed its revenue estimate and said it would buy fellow Canadian cannabis company Hexo Corp. HEXO for $56 million…

Shares of CarMax Inc. KMX rallied 4.0% in premarket trading Tuesday, after the used car seller reported fiscal fourth-quarter profit that was more than double what was expected even as revenue that fell well short of expectations citing “vehicle afford…

New York Community Bancorp Inc. NYCB stock rose 1.9% in premarket trade on Tuesday as it drew an upgrade to buy from hold from Jefferies analysts, with a price target of $11 per share. Analyst Casey Haire said Jefferies likes NYCB’s balance sheet posi…

Elon Musk’s Twitter is facing a steep slump in ad revenues in 2023, according to digital research company Insider Intelligence, which is forecasting just $2.98 billion for the year, down from its forecast last October of $4.74 billion. The main reason…

Shares of WW International Inc. WW, which was formerly known as Weight Watchers, soared 25.2% toward a five-week high in premarket trading Tuesday, after the weight management and wellness company said it completed its acquisition of Weekend Health Inc…

Newmont shares NEM slipped 2% in premarket trade after saying it’s increased its non-binding indicative offer for Newcrest Mining AU:NCM. The offer is 0.4 Newmont shares, plus it would allow Newcrest to pay a special dividend of $1.10 per share, that N…

Virgin Orbit Holdings Inc. VORB on Monday said that the Nasdaq planned to delist its shares after the developer of space-launch systems filed for Chapter 11 bankruptcy protection last week and said it was looking for a buyer. Trading will be suspended …

Visa Inc. V said late Monday it increased its board to a dozen members with the election of Pam Murphy, who is the chief executive of cybersecurity company Imperva Inc. Visa Chief Executive Ryan McInerney said in a statement that Murphy’s “extensive op…

U.S. stocks closed mostly higher on Monday, except for the Nasdaq, as investors awaited on fresh economic data and corporate earnings to kick off. The Dow Jones Industrial Average DJIA rose about 100 points, or 0.3%, ending near 33,586, for its third s…

Goldman Sachs GS settled charges Monday with the Commodity Futures Trading Commission that it violated standards related to equity index swap transactions. Goldman admitted that it failed to make necessary disclosures for “same-day” swaps to clients i…

Shares of Paychex Inc. PAYX powered up 4.2% in premarket trading Wednesday, after the human resources outsourcing services company reported fiscal third-quarter earnings that beat expectations and lifted its profit growth outlook, citing “remarkable re…

Illumina Inc. ILMN activist shareholder and billionaire Carl Icahn told The Wall Street Journal he’d like to see the return of ex-CEO Jay Flatley to replace the gene sequencing device maker’s current CEO Francis De deSouza. Icahn spoke to the newspaper…

Shares of Minnesota-based Stratasys Ltd. SSYS shot up 7.7% in premarket trading Wednesday, after Israel-based Nano Dimension Ltd. NNDM said it increased its bid to buy the fellow 3D printer maker to $19.55 a share. Nano Dimension’s stock rose 2.3% in t…

First Republic Bank stock FRC is down 1% as the most active stock in premarket trading on Wednesday with volume of more than 1.2 million shares. Separately, a six-person wealth adviser team from First Republic Bank has joined Rockefeller Capital Manage…

A new Senate Finance Committee report from the Democratic staff alleges that Credit Suisse CS violated key terms of a plea agreement with the Justice Department. The report alleges Credit Suisse transferred nearly $100 million of funds from a family of…

Shares of Macy’s Inc. M fell 2.1% toward a six-month low in premarket trading Wednesday, after the department store chain said Chief Executive Jeff Gennette plans to retire at the end of the fiscal year, after nearly seven years in the role and 40 year…

Shares of Biomea Fusion Inc. BMEA slumped 2.0% in premarket trading Wednesday, after the biopharmaceutical company said it launched a $125 million public offering of common stock. The offering comes after the stock rocketed a record 99.0% on Tuesday to…

The U.K. Competition and Markets Authority followed through on a threat made last week to refer the agreed acquisition by Broadcom AVGOof VMware VMW for further review. The regulator said Broadcom said it would not be offering any undertakings to quell…

A single credit-default swap trade, worth just €5 million, may have sparked Deutsche Bank’s share-price slump on Friday and is being probed. Bloomberg News reported, citing people familiar with the matter. The report said there’s no indication of any n…

Shares of German microchip maker Infineon Technologies XE:IFX rose as much as 8% as it upgraded its 2023 view, citing “resilient business dynamics in its core automotive and industrial segments.” Infineon said it now expects second quarter revenue abov…

U.S. stocks ended modestly lower on Tuesday, as Treasury yields rose, keeping pressure on the rate-sensitive Nasdaq Composite Index. The Dow Jones Industrial Average DJIA shed about 37 points, or 0.1%, ending near 32,394, while the S&P 500 index SPX fe…

Lucid Group Inc. LCID plans to lay off roughly 18% of staff, which would mean more than 1,000 job cuts, according to a Tuesday report. Insider reported that the electric-vehicle maker revealed the plans in an all-hands meeting and internal memo Tuesday…

President Joe Biden on Tuesday made additional comments about Monday’s school shooting in Nashville, saying it’s “absolutely heartbreaking.” Biden also said: “It’s senseless. You know, those children should all be with us still.” In addition, the presi…

Shares of Affirm Holdings Inc. AFRM were dropping 8% in Tuesday trading after Apple Inc. AAPL said it had finally “introduced” its buy-now-pay-later service, called Apple Pay Later. “Starting today, Apple will begin inviting select users to access a pr…

Oil futures finished at their highest in more than two weeks on Tuesday, with prices finding support from a pullback in banking concerns, strength in Chinese energy demand and news of a short-term oil-supply disruption. Natural-gas futures, meanwhile, …

AMC Entertainment Holdings Inc.’s AMC stock jumped 15.6% Tuesday after the Intersect reported that Amazon.com Inc. AMZN is weighing an acquisition of the movie theater chain and meme stock darling. Citing multiple sources close to the discussions, the …

In a move to assuage European regulatory officials, Microsoft Corp. MSFT says it will change its cloud computing practices to settle antitrust complaints filed by its smaller rivals, according to a Reuters report. The software giant has presented a pro…

Gold futures settled with a gain on Tuesday to recoup some of their losses from back-to-tack session declines. As the tensions in the banking sector “have come off, so has the gold price,” said said Rhona O’Connell, head of market analysis, EMEA & Asia…

European regulators on Tuesday gave the nod to Alphabet Inc.’s GOOGLGOOG Google in its pursuit of Photomath, a Croatian mathematics app. In a statement, the EU Commission said the acquisition would not reduce competition in the markets for “online home…

U.S. stocks opened mostly lower Tuesday, as investors digested fresh economic data on the trade deficit and home prices. The Dow Jones Industrial Average DJIA was up less than 0.1% soon after the opening bell, while the S&P 500 SPX fell 0.2% and the Na…

Shares of Ammo Inc. POWW gained 0.7% in premarket trading Tuesday, after the online marketplace for the firearms and shooting sports industries said it would extend its share repurchase program until February 2024. The program is for up to $30 million …

Shares of Allarity Therapeutics Inc. ALLR plunged 17% in premarket trading on Tuesday after the company told investors that it’s struggled to enroll enough patients in Phase 2 studies for Ixempra and senoparib, citing the impact of the pandemic on staf…

Shares of Viking Therapeutics Inc. VKTX soared about 45% in premarket trading on Tuesday after the company said it started a Phase 1 clinical trial evaluating an oral version of its dual glucagon-like peptide 1 (GLP-1) and glucose-dependent insulinotro…

Shares of Intra-Cellular Therapies Inc. ITCI jumped about 15% in premarket trading on Tuesday after the company said its experimental treatment for major depressive disorder met the primary endpoint in a Phase 3 clinical trial. The drug, lumateperone, …

Shares of Occidental Petroleum Corp. OXY climbed 2.3% in premarket trading Tuesday, after the oil and gas exploration and production company was upgraded at TD Cowen, citing a “superior” risk-reward balance. Analyst David Deckelbaum lifted his rating t…

Oil and gas developer and producer Spartan Delta Corp.CA:SDEDALXF said Tuesday it agreed to sell its Gold Creek and Karr Montney assets in Canada to Crescent Point Energy Corp. for C$1.7 bln ($1.42 bln). The company will pay a sale dividend of C$9.50 p…

Shares of Walgreens Boots Alliance Inc. WMB rallied 2.6% in premarket trading Tuesday, after the health care services and drug store chain reported fiscal second-quarter profit that beat expectations, but fell from a year ago due in part to lower COVID…

Germany’s competition regulator, the Bundeskartellamt, said it’s launching an investigation into Microsoft MSFT on whether it is of paramount significance for competition across markets. “Such a finding would allow us to take action at an early stage a…

D.A. Davidson on Tuesday hiked its price target by $200 to $1,025 a share for First Citizens Bancshares Inc. FCNCA but reiterated its neutral rating after a big rise in the stock in the previous session on the bank’s plan to buy the bulk of the Silicon…

Shares of McCormick & Co. Inc. MKC rose 1.3% in premarket trading Tuesday, after the flavor and spices company reported fiscal first-quarter profit that declined but beat expectations, as sales rose to a record amid strength in the flavor business and …

Swiss regulator FINMA on Thursday defended the decision for Credit Suisse AG.’s CSCH:CSGN additional Tier 1 bonds (AT1), or contingent convertible bonds or CoCos, to be written down as part of the investment bank’s merger with UBS AG UBSCH:UBSG. “The …

Biogen Inc. BIIB received a setback late Wednesday after a Food and Drug Administration advisory committee said the biotech drug maker’s proposed amyotrophic lateral sclerosis, or ALS, treatment did not show it was effective. On Wednesday, the FDA’s Pe…

OpenAI Chief Executive Sam Altman late Wednesday acknowledged a security flaw that briefly allowed some users of the service to view the titles of others’ conversations. “We had a significant issue in ChatGPT due to a bug in an open source library, for…

Shares of KB Home KBH rose 3% in the extended session Wednesday after the home builder reported first-quarter earnings and sales that topped views, saying it saw an uptick in demand that continued into March. KB Home earned $125.5 million, or $1.45 a s…

Fitch Ratings late Wednesday downgraded First Republic Bank’s FRC debt rating three notches, following a downgrade last week. Fitch downgraded the bank’s issuer default rating to “B” from “BB.” The downgrade comes after a group of banks injected $30 bi…

Cardlytics Inc. CDLX said late Wednesday that its chief financial officer is resigning over the summer. Andy Christiansen told the company on Friday that his last day is July 21, but will remain for a transition period, the company said. The ad platfor…

Struggling home-goods retailer Bed Bath & Beyond Inc. BBBY on Friday said it planned to hold a special meeting in which shareholders would vote on whether to allow the company to carry out a reverse stock split, should its board decide to do so. Shares…

A group of 20 California House Democrats, including Rep. Adam Schiff, called on federal law enforcement Friday to investigate the relationship between Goldman Sachs and Silicon Valley Bank. In a letter sent to the heads of the Justice Department, Secur…

Connect Biopharma Holdings Ltd. CNTB stock rose more than 40% in the extended session Friday after the company said that analysis of a trial involving one of its therapies to treat moderate-to-severe atopic dermatitis showed “rapid and sustained improv…

U.S. stocks finished lower on Friday as worries about banking-sector stability reemerged. But Friday’s pullback wasn’t large enough to stop both the S&P 500 and Nasdaq Composite from finishing the week in the green, while the Dow was the only major U.S…

While the stock market has renewed its selloff Friday, as SVB Financial Group’s SIVBbankruptcy showed the worst of the banking sector’s woes may not yet be in the past, the Arms Indexes for both the New York Stock Exchange and the Nasdaq Exchange sugge…

Western Alliance Bancorp WAL said late Friday the bank remains in strong position even though it saw outflows this week following the failure of Silicon Valley Bank and Signature Bank. The bank said it “experienced elevated net deposit outflows” on Mon…

To add insult to injury, SVB Financial Group SIVB, which said earlier Friday that it filed for bankruptcy, disclosed that it received a delisting notice from the Nasdaq Stock Market LLC. The stock has been halted for news and additional information req…

At least four major banks have put restrictions on trades that involve troubled Swiss lender Credit Suisse Group CS or its securities, Reuters reported Friday, citing people with direct knowledge of the matter. A Credit Suisse spokesperson declined to …

The U.S. welcomes Turkish President Recep Erdogan’s announcement in support of Finland’s NATO bid and encourages Turkey to “quickly ratify Sweden’s accession protocols as well,” said Jake Sullivan, President Joe Biden’s national security adviser, in a …

Charles Schwab Corp. SCHW looked to reassure investors amid the crisis of investor confidence in the banking sector, saying it remained “a safe port in a storm.” The financial services and discount brokerage giant said Friday that it has seen “strong”…

Could Alphabet Inc.’s foray into artificial intelligence, Bard, “blow a hole” in its margins? It’s a question posed by UBS analyst Lloyd Walmsley posed in a note Thursday. After careful consideration, he expects costs to come subside quickly. “We see c…

The crisis of investors confidence in banks has spilled over to the insurance sector, which has taken a beating in the past week. The SPDR S&P Insurance exchange-traded fund KIE slid 3.2% in morning trading toward a five-month low, and has tumbled 9.9%…

Financial stocks continued to drag stock stock market down Friday, as the Dow Jones Industrial Average’s DJIA four financial components contributed about 40% of the index’s selloff. Shares of JPMorgan Chase & Co. JPM gave up 3.7%, insurer Travelers C…

The Biden administration hopes that Chinese President Xi Jinping will reach out to Ukrainian President Volodymyr Zelensky directly because it’s important that Xi hears Ukraine’s perspective and not just Russia’s, White House spokesman John Kirby told r…

Shares of WeWork Inc. WE jumped 3.3% to trade back above the $1 mark in morning trading Friday, after the flexible work space provider announced agreements a group of investors that includes most of its bondholders to reduce debt and bolster liquidity….

U.S. stock indexes opened lower on Friday, giving back some of Thursday’s gains as investors still assessed the health of the banking sector after First Republic Bank was rescued by a group of major U.S. lenders. The Dow Jones Industrial Average lost …

First Republic Bank FRC dropped 18.6% in premarket trades despite an unprecedented move by 11 banks to deposit $30 billion with the bank, which has been hit with withdrawals in the wake of the demise of Silicon Valley Bank last week. JPMorgan Chase ana…

SVB Financial Group SIVB said Friday it has filed for Chapter 11 bankruptcy in New York and will seek a court-supervised reorganization. The company said the filing does not include SVB Capital or SVB Securities funds and general partner entities, whi…

Merck & Co. Inc. MRK said late Thursday that its combination therapy of vibostolimab and Keytruda did not outperform chemotherapy in a Phase 2 clinical trial of patients with metastatic non-small cell lung cancer. The company also said the study did no…

The stocks of the 11 banks that contributed $30 billion in uninsured deposits to embattled lender First Republic Bank on Thursday were all lower in premarket trade Friday, amid concerns the unprecedented action had failed to prop up the regional bank’…

Oil and natural gas producer ConocoPhillips COP disclosed Friday that Chief Executive Ryan Lance‘s total 2022 compensation was $19.97 billion, down 16.4% from $23.89 million a year ago. His 2022 compensation included a 4.4% raise in his base salary to …

Wedbush on Friday downgraded First Republic Bank stock FRC to neutral from outperform and slashed its price target on the stock to $5 a share, a fraction of its current level of around $29 a share in premarket trades. While the $30 billion deposit infu…

JPMorgan Chase & Co. JPM CEO Jamie Dimon and Treasury Secretary Jamie Dimon hatched the $30 billion, 11-bank plan to inject deposits into First Republic Bank FRC in a phone call on Tuesday, according to reports in The Wall Street Journal and other publ…

Ispire Technology Inc. ISPR, a branded e-cigarette and vape maker, on Friday halved the size of its planned initial public offering to 3 million shares from earlier plans to offer 6 million shares. The company said selling shareholders are still planni…