Tag: Stock market

U.S. stocks finished sharply lower Monday, kicking off Christmas week with a third session in a row of losses, as major global cities grappled with surging COVID-19 infections tied to the omicron variant. The Dow Jones Industrial Average fell about 43…

Oil futures ended sharply lower Monday, but off session lows, as the spread of the omicron variant of the coronavirus that causes COVID-19 underlined worries over the outlook for demand. West Texas Intermediate crude for February delivery , the most ac…

Gold contracts closed lower Monday, with the precious metal hit by the prospects for higher interest rates – something that was hurting appetite for equities and precious metals alike in the short term. February gold finished the session down $10.30…

Shares of Italian fashion house Ermenegildo Zegna N.V. rose 6% Monday in their trading debut on the New York Stock Exchange, after the company went public by merging with special-purpose acquisition corporation Investindustrial Acquisition Corp. , in a…

Mondee Inc., a San Mateo, California-based travel company, is going public via a merger with Ithax Acquisition Corp. , a special-purpose acquisition corporation backed by the founder of Ithaca Capital and the principals of Axia Ventures. The deal is va…

Shares of Society Pass Inc. , a Vietnamese e-commerce company with a Nasdaq listing, rose 177% on Monday, after the company was added to the Russell 2000 index. Society Pass went public in November in a deal that raised $26 million. The company calls i…

Elad Roisman, a Republican member of the Securities and Exchange Commission, said in a statement on Monday that he plans to resign from his position at the federal regulatory agency by the end of January. “It has been the utmost honor to work alongside…

Ebay Inc. said Monday that it has partnered with NBA star PJ Tucker to sell 100 pairs of sneakers that range from very rare to highly-coveted. Tucker has amassed a collection of sneakers numbering in the thousands. As of Monday morning, a pair of PJ T…

Rocket Cos. , the Detroit-based mortgage platform, said Monday it has reached an agreement to acquire personal finance app Truebill for $1.3 billion in cash. Truebill, which was created in 2015, “has quickly become the choice for consumers looking to l…

Papa John’s International Inc. announced the limited-time launch of New York-style pizza, sold in eight “oversized and foldable” slices in a 16-inch pie. The offer will be available starting December 27 and run through March 13, 2022, priced at $13 wi…

Oracle Corp. said Monday it has agreed to acquire electronic-medical-records company Cerner Corp. for $95 a share, in a deal valued at $28.3 billion. The news was reported earlier by the Wall Street Journal. “Working together, Cerner and Oracle have t…

Stocks opened sharply lower Monday, under pressure as the continued spread of the omicron variant of the coronavirus that causes COVID-19 sparked worries over both growth and inflation. The Dow Jones Industrial Average fell 512 points, or 1.4%, to 34,…

Blackrock Residential Growth REIT Inc. shares soared more than 68% in Monday premarket trading after it announced it would be acquired by Blackstone Real Estate for $24.25 per share. The all-cash transaction is valued at $3.6 billion. Blackstone will …

Beyond Meat Inc. said Monday that it will open its first research-and-development facility outside of the U.S. in Shanghai during the first half of 2022. The facility will focus on creating plant-based meat products for the Asia-Pacific customer. Beyo…

Bluebird Bio Inc. said Monday the Food and Drug Administration has placed a partial clinical hold on patients below the age of 18 in its lovo-cel sickle cell gene therapy program. The temporary halt is due to an investigation by the company into an ad…

Oracle Corp. is close to a deal to acquire electronic-medical-records company Cerner Corp. for more than $30 billion in cash, the Wall Street Journal reported Monday, citing people familiar with the matter. The deal is expected to be announced later …

The European Medicines Agency, the regulator for the European Union, has recommended granting a conditional marketing authorization to the COVID-19 vaccine developed by Novavax Inc. to prevent the illness in people aged 18 and older. The vaccine calle…

Krispy Kreme Inc. shares rose 1.5% in Monday premarket trading after the doughnut purveyor raised its revenue guidance for the year. Krispy Kreme is now guiding for revenue of $1.370 billion to $1.385 billion, up from $1.340 billion to $1.380 billion….

FedEx Corp. said Monday it has entered an accelerated share repurchase agreement (ASR) with Goldman Sachs to buy back $1.5 billion of its common stock. The company will receive an initial delivery of 4.8 million shares, based on its current market pri…

Pfizer Inc. and German partner BioNTEch SE said Monday they have reached an agreement to provide an additional 200 million doses of their COVID-19 vaccine to the European Commission and its member states in 2022. The companies said the 200 million do…

Biogen Inc. said Monday it will reduce the price of its Alzheimer’s drug aduhelm by 50% starting Jan. 1 in an effort to get it to more patients with early signs of the disease. “For a patient of average weight (74 kg), the yearly cost at the maintenan…

Shoe Carnival Inc. said Monday that its board has approved a new $50 million share repurchase program, effective Jan. 1, 2022. The new program will replace a previous $50 million program authorized in December 2020. The company also announced a divide…

Packaging company Sonoco Products Co. said Monday it has agreed to acquire Ball Metalpack, a joint venture owned by Platinum Equity and Ball Corp. for $1.35 billion in cash, before tax benefits estimated at about $180 million. Ball Metalpack is based…

The global tally for the coronavirus-borne illness climbed above 274.7 million on Monday, while the death toll edged above 5.35 million, according to data aggregated by Johns Hopkins University. The U.S. continues to lead the world with 50.8 million ca…

BeiGene Ltd. said Monday it had entered an agreement with Swiss drug company Novartis Pharma AG to develop its investigational TIGIT inhibitor ociperlimab in North America, Europe, and Japan and to market five Novartis oncology treatments in China. “…

ZeroFox Inc., a cybersecurity software-as-a-service company, said Monday it is going public via a merger with special-purpose acquisition corporation L&F Acquisition Corp. in a deal with an expected equity value of about $1.4 billion. As part of the d…

Moderna said Monday that preliminary data showed that a 50 microgram booster dose of its COVID vaccine triggered a 37-fold rise in neutralizing antibodies against the omicron variant of coronavirus. Tests also showed that a 100 microgram dose increased…

The Turkish lira tumbled to fresh lows against the dollar on Monday, following a speech by President Recep Tayyip Erdoğan, who reiterated the country’s need to keep cutting interest rates. The lira was trading at a fresh low of 17.41 against the dolla…

U.S. stocks closed solidly lower Friday and the Dow booked the worst decline of the month so far, as investors assessed the economic impact of the spread of the coronavirus omicron variant and the most recent moves by central banks around the globe. Th…

Oil futures settled with a loss on Friday, prompting prices to post their seventh weekly decline in eight weeks. Oil fell Friday as equities were mostly under pressure and investors became “increasingly cautious that stubbornly high inflation will resu…

Gold futures climbed on Friday to settle above the key $1,800 mark for the first time since Nov. 22, with prices based on the most-active contract posting a gain of about 1.1% for the week. Gold is back above $1,800 and “how it performs for the rest of…

The United Kingdom set another record one-day COVID-19 case tally on Friday, with government data counting 93,045 positive cases, the most since the start of the pandemic. It’s the third straight day that cases have set records as the omicron variant r…

Baker Hughes on Friday reported that the number of active U.S. rigs drilling for oil rose by four to 475 this week. The rig count was also up by four in the previous week, Baker Hughes data show. The total active U.S. rig count, which includes those d…

Stocks opened lower Friday, with the tech-heavy Nasdaq Composite leading the way lower for major indexes. The Dow Jones Industrial Average fell 209 points, or 0.6%, to 35,689, while the S&P 500 declined 0.6% to 4,639.86 and the Nasdaq dropped 0.7% t…

Dick’s Sporting Goods Inc. said in a Friday filing that it has authorized a $2 billion share repurchase program. This new program is in addition to the $202.1 million remaining from the previous five-year $1 billion share repurchase program authorized…

Private equity firm TPG Partners LLC on Thursday filed its initial public offering to trade on the Nasdaq under the symbol TPG. The Fort Worth, Texas, financial firm that previously operated under the name Texas Pacific Group plans to raise up to $100 …

AMC Theatres said Friday the latest installment of the Spiderman franchise has set AMC box office records for December. The company said “Spider-Man: No Way Home,” which opened last night across the U.S., was the highest-grossing film on its opening n…

Boeing on Friday notified shareholders of a proposed $237.5 million settlement stemming from the two fatal crashes in 2018 of the Boeing 737 MAX. The stockholder derivative action was brought against Boeing’s board of directors in a Delaware court in …

Darden Restaurants Inc. shares fell 3.9% in Friday premarket trading after the Olive garden parent gave earnings guidance below Street expectations. Net income totaled $193.2 million, or $1.48 per share, more than double the $96.0 million, or 73 cents…

Freshpet Inc. said Friday it is revising full-year guidance after supply-chain issues and parts shortages led by a temporary decline in production. The Secaucus, N.J.-based provider of pet food made using locally farmed ingredients said it now expects…

Winnebago Industries Inc. shares jumped 4.6% in Friday premarket trading after the motorhome and outdoor lifestyle company reported record fiscal first-quarter earnings and revenue. Net income totaled $99.6 million, or $2.90 per share, up from $57.4 …

Payments company Bottomline Technologies Inc. said Friday it has reached an agreement to be acquired by private-equity firm Thoma Bravo in an all-cash deal valued at about $2.6 billion. Under the terms of the deal, Bottomline shareholders will receive…

Biogen Inc. and partner Eisai Co. Ltd said Friday an advisory committee to the European Medicines Agency has adopted a negative opinion on its Alzheimer’s treatment aducanumab, known as aduhelm in the U.S. The company was seeking an authorization fo…

Futu Holdings Ltd. , the Hong Kong-based digitized brokerage company, said Friday it has not received any notice from Chinese regulators that is expected to have an adverse effect on its business or finances. The company made the comment in a statement…

The global tally for the coronavirus-borne illness climbed above 273 million on Friday, while the death toll edged above 5.33 million, according to data aggregated by Johns Hopkins University. The U.S. continues to lead the world with 50.5 million case…

The chief executive of Cruise, the autonomous-driving-focused segment owned by General Motors Co. , is leaving the company, the car maker said Thursday afternoon. Dan Ammann, who came on as CEO of Cruise in 2019, will be replaced on an interim basis by…

U.S. stocks closed lower Thursday as investors weighed monetary moves by global central banks and fresh economic data. The Dow Jones Industrial Average slipped 0.1% to around 35,897.64, while the S&P 500 fell 0.9% to around 4,668.67, and the Nasdaq C…

Paul Ellis/Agence France-Presse/Getty ImagesInvestors flocked to the safety of Treasurys on Thursday, pulling down yields as concerns about the omicron variant flared and doubts lingered that the Federal Reserve will be able to lift interest rates aggr…

Oil futures finished higher on Thursday, with U.S. prices settling at their highest in about three weeks. The mood of the market has “shifted because of clarity from the Federal Reserve,” said Phil Flynn, senior market analyst at The Price Futures Grou…

The Nasdaq Composite Index was sinking over 2.5% Thursday afternoon, putting the index on pace for the steepest daily loss since late September, as the market appeared to have a delayed reaction to the Federal Reserve’s updated policy, which signaled t…

Gold futures rallied on Thursday, marking their highest finish in more than three weeks. Gold prices got their “groove back as the dollar weakened and the Treasury curve flattened,” said Edward Moya, senior market analyst at Oanda. “Risk aversion is hi…

U.S.-listed shares of Valneva SE were up 14.9% in trading on Thursday after the company said in a news release that its experimental COVID-19 booster shot boosted antibody levels in people who were already vaccinated with Valneva’s primary series of s…

The initial public offering market is winding up the busiest year for deals since the dot.com boom of 2000 and the best-ever year for proceeds raised at $142.5 billion, according to Renaissance Capital, a provider of institutional research and IPO exch…

President Joe Biden on Thursday signed into law a bill providing for the authority to increase the U.S. debt limit by $2.5 trillion. Congress passed the legislation early Wednesday, acting ahead of a key deadline to avoid an unprecedented default. The …

The U.K. set another one-day record for new cases of COVID-19 on Thursday, with government data showing 88,376 people had tested positive, beating the prior-day record of 78,610. The previous peak was set last January when 68,053 people tested positive…

Chico’s Fas Inc. said Thursday that it has launched same-day delivery in Chicago and Fort Myers, Fla., through a partnership with Walmart Inc.’s GoLocal service. Walmart’s delivery service will get orders from the Chico’s White House Black Market and…

The U.S. Energy Information Administration reported on Thursday that domestic supplies of natural gas fell by 88 billion cubic feet for the week ended Dec. 10. That compared with the average decline of 88 billion cubic feet forecast by analysts polled …

Stocks opened higher Thursday, with the S&P 500 trading above its record close of 4,712.02 set on Dec. 10, a day after the Federal Reserve announced its plan to wind down its bond-buying program by March and penciled in three rate increases in 2022. Th…

Motional, the 2020 joint venture between Hyundai Motor Group and Aptiv, said Thursday it’s teaming up with Uber Technologies Inc. to launch autonomous deliveries for Uber customers next year. The companies will begin in Santa Monica, Calif., in early …

Chipotle Mexican Grill Inc. said Thursday that it will launch its first Chipotlane Digital Kitchen in Cuyahoga Falls, Ohio later this month, a restaurant that will feature a drive-through lane, or Chipotlane, and walk-up window for guests and delivery…

The Centers for Disease Control and Prevention’s Advisory Committee on Immunization Practices is set to meet Thursday to discuss safety concerns associated with Johnson & Johnson’s COVID-19 vaccine. The shot has raised concern due to the risk of throm…

Getty ImagesCheck back for a report after the data is released.New-home construction activity likely increased in November after falling short of expectations the month prior, according to economists surveyed by MarketWatch. The continued shortage of e…

Shares of Adobe Inc. fell 7% in premarket trading Thursday, after the maker of software for the desktop, web and mobile apps matched profit estimates for its fiscal fourth quarter but offered guidance for fiscal 2022 that lagged consensus. Adobe poste…

Rubicon, a cloud-based waste and recycling platform operator, is going public by merging with special-purpose acquisition corporation Founder SPAC in a deal with an implied pro forma enterprise value of $1.7 billion. The deal is expected to close in t…

Emergent BioSolutions Inc. said Thursday that it began dosing participants in a Phase 1 clinical trial for its universal influenza vaccine candidate. The randomized, double-blind, placebo-controlled dose-escalation study is being conducted in Australi…

The European Central Bank on Thursday said it would further slow purchases of assets under its Pandemic Emergency Purchase Program, or PEPP, in the first quarter of next year and bring them to a halt in March. The ECB said it would double the pace of a…

Bond yields of periphery eurozone nations rose after the European Central Bank decision, as the central bank looks to slowly reduce the rate of government bond purchases. The ECB confirmed the Pandemic Emergency Purchase Programme will end as planned i…

The Valens Company Inc. said Thursday it secured a non-revolving term loan of up to $31.3 million with 2361380 Ontario Limited, a private institutional lender. The loan for the Kelowna, Canada, cannabis company will accrue interest at a rate of 10% pe…

Delta Air Lines Inc. stock rose 2.1% in Thursday premarket trading after it set its financial goals for the coming years ahead of its scheduled Capital Markets Day. The airline aims to more than double 2019 average seat miles (ASMs) and is guiding for…

Shares of Biogen Inc. gained 0.9% in premarket trading on Thursday after the company said it plans to submit a protocol for a Phase 4 confirmatory study for its Alzheimer’s disease drug to U.S. regulators in March. The study is a condition of the acce…

Genuine Parts Company said Thursday its Motion Industries Inc. unit will pay about $1.3 billion for Kaman Distribution Group, a 1,700-employee power transmission, automation and fluid power industrial distributor founded in 1971. Private equity firm L…

Accenture Plc shares jumped 6.6% in premarket trade Thursday, after the consulting firm beat estimates for its fiscal first quarter and raised guidance. The company posted net income of $1.8 billion, or $2.78 a share, for the quarter to Nov. 30, up fr…

Stem Inc. said Thursday it agreed to pay $695 million in cash and stock to buy privately held Also Energy Holdings Inc., solar asset management software maker. Stem’s purchase price includes 75% cash and about 25% in common stock for Also Energy Holdi…

The U.S. dollar surged past the 15 Turkish lira, after the Turkish central bank cut its benchmark rate for the fourth consecutive month. The 100 basis point rate cut, to 14%, comes amid a 20% surge in inflation in Turkey. The dollar recently was up ov…

The global tally for the coronavirus-borne illness climbed above 272.3 million on Thursday, while the death toll edged above 5.33 million, according to data aggregated by Johns Hopkins University. The U.S. continues to lead the world with 50.4 million …

Visa Inc. said in a filing late Wednesday its board has authorized a new $12 billion share repurchase program. Combined with funds left over from a previous authorization, funds available for future share repurchases total $13.2 billion, Visa said, wi…

U.S. equity benchmarks closed sharply higher Wednesday, and the S&P 500 missed a record closing high, after the Federal Reserve announced a speedier reduction of its monthly asset purchases in the face of persistently elevated inflation. Fed policy mak…

Oil futures finished higher on Wednesday after the U.S. Federal Reserve announced plans to speed up its reduction of monthly bond purchases and signaled three interest-rate hikes next year, instead of one. Oil was initially trading lower as concerns th…

The U.S. dollar strengthened versus major rivals Wednesday after the Federal Reserve, as expected, moved to accelerate the wind-down of its monthly bond purchases, putting them on track to finish by March. The move is also seen clearing the way for rat…

Gold futures settled lower on Wednesday, then lost more ground in electronic trading after Federal Reserve officials announced plans to speed up a reduction in bond purchases to $30 billion a month to end that program in March, earlier than the origina…

U.S. stock benchmarks on Wednesday afternoon were pivoting modestly higher as the Federal Reserve held interest rates steady, as expected, but quickened the pace of wind-down of its bond-buying program, opening the door to interest-rate increases in th…

WASHINGTON (MarketWatch) – The Federal Reserve on Wednesday voted to speed up a reduction in bond purchases to $30 billion a month so that the program could end in March instead of the original plan of June. The Fed also penciled in three increases in…

Shares of Samsara Inc. , a cloud-based internet of things company, jumped 8% in their trading debut Wednesday, after its initial public offering priced at $23, the upper end of its proposed price range. The company sold 35 million shares to raise $805…

Brinker International Inc. announced Wednesday that it will launch its virtual delivery-only brand, Maggiano’s Italian Classics, nationwide in 2022. Maggiano’s Italian Classics ghost kitchens are now in select markets, with Brinker using existing loca…

Amazon’s cloud-service network, Amazon Web Services, on Wednesday said it was suffering a fresh outage, about a week after the service was down for hours last Tuesday, disrupting access to many popular sites. On Wednesday, AWS said that it was “experie…

The Energy Information Administration reported on Wednesday that U.S. crude inventories fell by 4.6 million barrels for the week ended Dec. 10, following two consecutive weeks of declines. On average, analysts had forecast a fall of 1.7 million barrels…

U.S. business inventories rose a sharp 1.2% in October, the government said Wednesday, but companies still can’t restock fast enough to keep up with sales. Sales jumped 2.1% in the month. As a result, the ratio of inventories to sales dropped to 1.24 f…

Designer Brands Inc. will offer its frontline hourly store workers a $200 bonus, the third “appreciation” bonus of the year. The latest bonus will cost the company $2 million, and brings the total investment for the year to $5.75 million. Designer Bra…

Shares of GeoVax Labs Inc. were down 1.4% in trading on Wednesday after the company said it began a Phase 2 clinical trial for its COVID-19 booster candidate. The study is being conducted at City of Hope hospital in Southern California; it is expected…

U.S. stocks were little changed after the opening bell Wednesday, with investors awaiting a decision by the Federal Reserve that’s expected to see policy makers agree to speed up the wind-down of the central bank’s monthly asset purchases. The Dow Jone…

J.P. Morgan Chase & Co. said Thursday that its annual health care conference will no longer be an in-person event, with a statement citing the “ongoing COVID-19 pandemic.” The event, held each year in San Francisco in January, is one of the largest he…

Canopy Growth Corp. said Wednesday it agreed to sell its Cannabinoid Compound Company GmbH (C3) to Dermapharm Holding SE for up to 122.6 million euros ($138 million). Canopy Growth said the transaction will reduce its short-term capital investment re…

Walmart Inc. announced a new 1 million-plus-square-foot Salt Lake City fulfillment center coming summer 2022 on Wednesday. The facility will create 450 full-time jobs, and will fulfill orders placed on the retail giant’s e-commerce site. The Salt Lake…

Anchorage Digital said Wednesday KKR & Co. led a $350 million Series D funding round that values the crypto currency banking company at more than $3 billion. The deal comes 11 months after the company said Anchorage Digital Bank would become a federal…

Lowe’s Cos. stock fell 3.7% in Wednesday premarket trading after the home improvement retailer announced its 2022 guidance, ahead of the company’s outlook webcast. Lowe’s expects 2022 sales of $94 billion to $97 billion, with results impacted by $1 bi…

CI Financial Corp. said Wednesday it would pay an undisclosed sum to acquire Columbia Pacific Wealth Management, which has $6.4 billion in assets under management (AUM) for high-net-worth and ultra-high-net-worth clients on the West Coast and across …

Steel company Nucor Corp.’s shares slid 3.3% in premarket trading Wednesday, after the Charlotte, North Carolina-based company offered guidance for the fourth quarter that lagged consensus estimates. Nucor said it expects per-share earnings of $7.65 t…

Shares of Medtronic gained 0.3% in premarket trading on Wednesday after the company said it received a warning letter from the Food and Drug Administration following an inspection at a factory that makes its MiniMed 600 series insulin infusion pump an…

Entegris Inc. said Wednesday it agreed to buy CMC Materials Inc. for about $6.5 billion in cash and stock. CMC Materials shareholders will receive $133 in cash and 0.4506 shares of Entegris common stock for each share of CMC Materials common stock th…