Digital Currency, Stock Market, and Investment News from your Reliable Sources Channel
U.S. stock indexes finished modestly higher on Friday with the tech-heavy Nasdaq Composite spearheading gains, as investors digested inflation data and corporates’ fourth-quarter earnings reports ahead of next week’s Federal Reserve monetary policy mee…
U.S. securities regulators are probing Tesla Inc. Chief Executive Elon Musk’s role in the EV maker’s self-driving car claims, Bloomberg reported Friday, citing a person familiar with the investigation. The review is part of the ongoing U.S. Securities …
Oil futures ended with a loss on Friday, with U.S. benchmark prices under $80 to settle at their lowest in more than a week. U.S. crude prices had a “little tug-of-war around the $80 a barrel level” until the market knows more about China’s reopening m…
Shares of Carvana Co. CVNA soared 20.8% in active afternoon trading Friday, enough to pace the New York Stock Exchange’s (NYSE) gainers list. Trading volume swelled to 28.6 million shares, already well above the full-day average of 18.6 million. The la…
Shares of Lucid Group Inc. LCID rocketed 62.7% in very active afternoon trading, paring an earlier intraday gain of as much as 97.8%, prior to its latest trading halt for volatility. The electric vehicle and battery pack maker’s stock was trading down …
Gold futures finished Friday with a modest loss, but held onto a slight gain for the week — their sixth weekly gain in a row. “Gold has had a good run in the last few weeks benefitting from the downturn in the U.S. dollar,” said Colin Cieszynski, chief…
Baker Hughes BKR on Friday reported that the number of active U.S. rigs drilling for oil fell by four to 609 this week. That followed a decline of 10 in the previous week. The total active U.S. rig count, which includes those drilling for natural gas, …
The House of Representatives on Friday approved a bill that would limit drawdowns from the Strategic Petroleum Reserve. The measure passed 221-205, and ties nonemergency releases to a boost in federal lands leased to oil companies. President Joe Biden …
Oil futures gave up early gains on Friday to trade more than 1% lower, with U.S. prices falling below the key $80 a barrel mark on an intraday basis. Traders are “looking to book profits ahead of the end of month and taking a safe position” ahead of th…
Canadian cannabis company OrganiGram Holdings Inc. OGICA:OGI said Thursday it received notification from the the Nasdaq that it is not in compliance with the minimum bid price requirement to retain its listing because its stock has traded below $1.00 f…
The Nasdaq Composite COMP has been a bit late to the broader market’s bullish party, but it finally crossed above its widely followed 200-day moving average (DMA) for the first time in a year. The index was up 0.5% at 11,575 in recent trading, while th…
U.S. stocks opened mostly lower Friday as investors digested data from the Federal Reserve’s preferred gauge showing signs of inflation slowing while personal spending last month fell. The Dow Jones Industrial Average opened slightly higher before dip…
Share of Sleep Number Corp. SNBR rallied 3.4% in afternoon trading Friday, reversing an earlier intraday loss of as much as 11.8%, after the bed and mattress maker provided a downbeat 2022 profit outlook but updated its revenue outlook to be in line wi…
Silvergate Capital Corp. SI stock fell 7.5% in premarket trades Friday after the company said it is suspending dividends on its 5.375% fixed rate non-cumulative perpetual preferred stock, Series A, in order to preserve capital. The company said it’s m…
Ayr Wellness Inc. AYRWFCA:AYR.A said Friday it will not move ahead with plans to acquire two dispensaries in Chicago for $55 million because “the cannabis market has changed significantly” in the 15 months since it inked the deal. Instead Ayr plans to …
Shares of Regeneron Pharmaceuticals Inc. REGN gained about 2.5% in premarket trading on Friday after the European Medicines Agency’s Committee for Medicinal Products for Human Use recommended approval of Dupixent, the atopic dermatitis therapy develope…
Nexstar Media Group Inc. NXST said Friday its board has approved a 50% increase in its quarterly cash dividend to $1.35 a share. The diversified media company said the new dividend will be payable on Friday, Feb. 24 to shareholders of record as of Feb….
CalAmp Corp. CAMP, a software and subscription services company, said Friday it is planning to reduce its work force by 8% as part of a restructuring. The Irvine, California-based company had 887 employees as of Feb. 28, 2022, according to its annual 1…
Colgate-Palmolive Co.’s CL fourth-quarter results beat analysts’ top and bottom-line expectations before market open Friday. The company earned 1 cents a share, compared with 18 cents a share in the year-ago quarter, impacted by goodwill and impairment…
Shares of HCA Healthcare Inc. HCA fell about 6% in premarket trading on Friday after the hospital operator set out earnings guidance for 2023 that came in lower than expected. Revenue for the fourth quarter of 2022 missed expectations. HCA had earnings…
Charter Communications Inc. CHTR fell short of earnings expectations for the fourth quarter but posted a larger haul of net new internet subscribers than it had seen in the third quarter. The cable company generated net income of $1.20 billion, or $7.7…
TXO Energy Partners L.P. TXO priced five million common units at $20 in its $500 million initial public offering for trading on Friday on the New York Stock Exchange under the symbol TXO. TXO Energy Partners granted underwriters an option to purchase…
Shares of Chevron Corp. CVX fell 0.7% in premarket trading Friday after the oil and gas giant missed fourth-quarter profit expectations, while revenue rose above forecasts. Net income rose to $6.35 billion, or $3.33 a share, from $5.06 billion, or $2.6…
Shares of Intel Corp. tumbled 9.6% in premarket trading, putting them on track for the worst one-day performance in 15 months, in the wake of the semiconductor maker’s fourth-quarter profit miss and warning of coming losses. The implied price decline w…
A Food and Drug Administration advisory panel voted unanimously on Thursday for Americans to get a once-a-year booster against COVID with the strain to be decided mid-year for a fall campaign, the Associated Press reported. The panel agreed that people…
Shares of Autoliv Inc. ALV rallied 3.4% in premarket trading Friday, after the Sweden-based maker of automotive safety systems beat fourth-quarter profit expectations, but came up shy on revenue, as price increases compensated for raw material cost inf…
DMCI Holdings, Inc. (DMC) and Union Bank of the Philippines (UBP) will be included in the PSE index (PSEi) starting February 6, 2023. Both companies will be replacing Megaworld Corporation (MEG) and Robinsons Land Corporation (RLC) based on the January to December 2022 index review of the Philippine Stock Exchange (PSE). DMC and UBP have…
Ailing home-goods retail chain Bed Bath & Beyond Inc. BBBY on Thursday said it had appointed Carol Flaton as a director of its board. The company said in a filing that she qualifies as an independent director. The decision took hold on Jan. 24. She wil…
Bitcoin might suffer from a pullback for two weeks or longer, though the crypto has rallied almost 40% so far this year, according to Katie Stockton, founder and managing partner at Fairlead Strategies. The cryptocurrency saw a new short-term “sell” s…
Major U.S. stock indexes closed higher Thursday, with the S&P 500 ending at 7-week highs after the official scorecard of the American economy showed a strong 2.9% annual rate of growth for the fourth quarter of 2022. The Dow Jones Industrial Average r…
Oil futures finished higher on Thursday, a day after U.S. prices posted a modest rise. “China’s reopening is bullish for commodities, full stop,” said strategists at RBC Capital Markets. Oil traders are also looking ahead to a committee meeting of majo…
The Philippine Stock Exchange, Inc. (PSE) received a 4 Golden Arrow recognition from the Institute of Corporate Directors (ICD) at the ACGS Golden Arrow Awards held on January 20, 2023. The Golden Arrow recognition is given to Philippine publicly listed companies (PLCs) that meet the score requirement for each of the five levels of performance…
Eli Lilly & Co. LLY said Tuesday it’s planning to invest an additional $450 million in a manufacturing site at Research Triangle Park in North Carolina and will create at least 100 jobs. The news comes at a time when many companies are laying off staff…
Shares of General Electric Co. GE fell 2.2% in premarket trading Friday, after the industrial conglomerate reported fourth-quarter profit, revenue and free cash flow (FCF) that beat expectations, but provided a downbeat earnings outlook. GE’s report wa…
The Food and Drug Administration is recommending that the U.S. should decide each June what SARS-CoV-2 strains should be included in an annual fall booster shot. Doing so would allow updated COVID-19 vaccines to be ready for distribution “no later than…
Advertising-technology company Innovid Corp. CTV disclosed Monday afternoon that it intends to lay off roughly 10% of its staff. Innovid had 396 full-time employees as of Dec. 31, 2021, according to its most recent 10-K filing. The cuts come as Innovid…
Yext Inc. YEXT disclosed Monday that it plans to lay off about 8% of its staff as part of a restructuring plan meant to cut costs. Once the layoffs are complete, the company, which uses artificial intelligence in search, expects to have about 1,100 emp…
HighPeak Energy Inc. HPK shares rose, following a halt, halted late Monday after the oil and natural gas company said it was exploring strategic alternatives including a potential sale. HighPeak shares rose 10% after hours, following a brief trade halt…
In a month marred by job cuts seemingly everywhere in Silicon Valley, Agilent Technologies Inc. Chief Executive Mike McMullen pledged no layoffs this year in a meeting with employees last week. Shares of Agilent are up 15% over the last 12 months. The…
Google’s parent Alphabet Inc. GOOGGOOGL had a “standing interest” in buying Tesla Inc. TSLA, Chief Executive Elon Musk said in court Monday, referring to an earlier deposition. That factored into Musk’s decision to try to take Tesla private then, the C…
U.S. stocks finished at their highest level in a month on Monday as strong performances by consumer-technology giant Apple Inc. AAPL and chipmaker NVIDIA Inc. NVDA pushed the Nasdaq Composite COMP further into the lead. The Nasdaq gained roughly 223 po…
Tesla Inc. Chief Executive Elon Musk is now under cross-examination from his attorney Alex Spiro, saying late Monday that he had “never” tried to deceive shareholders but was fending off short sellers. “I thought it would be good for the shareholders t…
Sumo Logic Inc. SUMO stock soared Monday on a report that the data-analytics software company has been approached by private equity firms expressing interest in a possible buyout. Sumo Logic shares surged more than 30% to an intraday high of $10.25, in…
Rivian Automotive Inc. RIVN said Monday that Jim Chen, vice president of public policy, is planning to leave the EV maker, the latest executive departure at the company. A Rivian spokesperson told MarketWatch it was a “mutual agreement between Jim and …
Oil futures finished little changed Monday, down by just pennies, after ending last week at their highest since November. Oil bulls have been “drawing strength from rising demand hopes as China’s economy re-opens, while a softer dollar seems to be supp…
Gold futures ended Monday with a slight gain, giving up early losses to hold ground at their highest price since April. “For now, gold seems to be able to brush off any bearish factors, such as the risk of recession fading a little and a more optimisti…
Vikasa SPAC Series I Acquisition Corp. VSSAU disclosed Monday that it was withdrawing its filing for its $200 million initial public offering. The blank check company, which was looking to go public, so it can buy a private company and take it public, …
Shares of Hellbiz Inc. HLBZ soared 41.3% in midday trading Monday, and have more than doubled in two days, after the e-scooters and e-bicycles provider said it hired Shareholder Intelligence Services LLC (ShareIntel) to help it combat the alleged illeg…
Tesla Inc. TSLA stock added to a rally Monday as Chief Executive Elon Musk took the witness stand in a federal trial in San Francisco revolving around his “funding secured” tweets in 2018. The stock gained more than 6% in midday trading as Musk in cour…
European Central Bank policymakers laid out diverging views on future interest rate hikes on Monday, suggesting that moves beyond next week’s half a percentage point increase remain contentious. The ECB promised in December a steady pace of 50 basis po…
Global equity markets edged higher on Monday as hopes of a less aggressive Federal Reserve buoyed investor sentiment, while the euro hit a nine-month peak against the dollar on the rising likelihood of more jumbo interest rate hikes in Europe.The start…
Chinese buyers are thought to have booked at least several large vessels of French barley this month, swelling a French export programme as merchants ship out a previous round of sales from late last year, European traders said.China has become a major…
Enel X Way, the e-mobility division of Italy’s biggest utility Enel MIL:ENEL, will make available its domestic and street charging services to Toyota and Lexus drivers, Enel and Toyota TSE:7203 said in a joint statement on Monday.The new partnership “m…
Kuwaiti Prime Minister Sheikh Ahmad Nawaf al-Sabah on Monday submitted the resignation of his cabinet to the country’s crown prince, state news agency KUNA reported, in the latest standoff between government and the elected parliament.Crown Prince Shei…
Shares of Pitney Bowes Inc. PBI rallied 4.8% in morning trading Monday, after the shipping and mailing company acknowledged that activist investor Hestia Capital nominated seven people to the company’s board of directors, while saying shareholders need…
The Food and Drug Administration on Monday recommended that the U.S. should decide each June what SARS-CoV-2 strains should be included in an annual fall booster shot. Doing so would allow updated COVID-19 vaccines to be ready for distribution “no late…
Newell Brands Inc. NWL, the parent company of Rubbermaid, Sharpie, and other brands, announced Monday that it planned to cut about 13% of office positions as it looks to reduce costs. The company expects to see annualized pre-tax savings of $220 millio…
U.S. stocks opened modestly higher Monday as investors await fresh economic data due out later this morning. The Dow Jones Industrial Average was up 0.1% soon after the opening bell, while the S&P 500 edged up 0.1% and the Nasdaq Composite rose 0.2%…
Clever Leaves Holdings Inc. CLVR stock fell 1.9% in premarket trades Monday after the cannabis company said it will eliminate 63 jobs as part of a wind-down of its operations in Portugal in the first quarter. Clever Leaves expects to disclose one-time…
Shares of Caesars Entertainment Inc. CZR were ahead about 3% in premarket trading Monday after the hotel and casino operator suggested that it expects revenue for its latest quarter to exceed the consensus view. Caesars anticipates that it generated $2…
Takeda Pharmaceutical Co. Ltd. TAKJP:4502 said Monday that it will acquire Hutchmed’s HCMHK:13 experimental cancer treatment outside mainland China, Hong Kong and Macau, with plans to develop and commercialize fruquintinib. Per the terms of the deal, T…
Shares of Western Digital Corp. WDC were rising 4% in premarket trading Monday after Bloomberg News reported that the memory company was “progressing” in its merger talks with Kioxia Holdings Corp. The companies are discussing a spinoff of Western Digi…
Franklin Electric Co. said Monday it will raise its quarterly dividend to 22.5 cents per share, that represents a 15.3% increase from the prior dividend of 19.5 cents a share. The new dividend will be payable Feb. 16 to shareholders of record on Feb. 2…
Shares of Pliant Therapeutics Inc. PLRX soared about 75% in premarket trading on Monday, the day after the company said a high dose of its experimental treatment for idiopathic pulmonary fibrosis met the primary and secondary endpoints in a Phase 2a cl…
Verb Technology Co. Inc. VERB, a provider of interactive video-based sales apps, has become the latest small-cap company to announce plans to address naked short selling of its stock, among suspected trading violations. The Newport Beach, California an…
Shares of PayPal Holdings Inc. PYPL were off more than 1% in premarket trading Monday after The Wall Street Journal reported that the big banks were working on a digital wallet meant to ease the process of purchasing online with debit and credit cards….
Enlight Renewable Energy Ltd. has filed an initial public offering to trade its stock on the Nasdaq under the symbol ENLT with underwriters JPMorgan JPM , BofA Securities BAC , Barclays, Credit Suisse, Wolfe/Nomura Alliance and Roth Capital Partners. E…
The Philippine Stock Exchange, Inc. (PSE) ushered in the Year of the Water Rabbit with a lion and dragon dance at the PSE Tower. Directors and Officers of the PSE rang the opening bell on the first trading day in the lunar new year. “In the Chinese culture, the rabbit is known to be the…
The Philippine Stock Exchange, Inc. (PSE) and Shenzhen Stock Exchange (SZSE) signed on Wednesday, January 4, a Memorandum of Understanding (MOU) to strengthen communication and economic cooperation between the two bourses that can potentially help boost investment prospects for both the Philippine and Chinese capital markets. “The MOU broadens the strategic alliance and strengthens the…
The Philippine Stock Exchange, Inc. (PSE) officers rang the bell to mark the first trading day of 2023. “The new year brings optimism and hope to us at the PSE. We look forward to more listings, higher trading volumes, and enhanced partnerships in the industry that will help expand our product and service offerings,” said…
The Philippine Stock Exchange, Inc. (PSE) index closed at 6,566.39 points, down by 0.15 points or 0.002 percent. Year to date, the main index decreased by 7.8 percent. Daily average value turnover for the year was at Php7.30 billion, down by 18.9 percent from 2021’s Php9.00 billion average. The market registered Php67.95 billion worth of net foreign selling versus…
The IBEX35 advanced softly for a second consecutive session on Wednesday, trading above the 8280 mark and tracking a generally cautious mood as the end of the year approaches and investors weigh the covid situation in China and the global economic outl…
Enclosed are just five of the crypto-related things that got under my skin in 2022. There were far more than five, but obvious things like “the market went down” are not included because they’re not fun to write about.You’re reading Crypto Long & Short…
As Tesla (NASDAQ:TSLA) stock has gotten battered in 2022 — it’s down nearly 66% year-to-date — investors have begun to look around for better electric vehicle (EV) stocks to buy.Don’t get me wrong, almost all EV stocks are down in 2022, but Tesla was, …
We saw the rise of meme stocks last year, with everyone hoping to catch lightning in a bottle. Conversely, 2022 was a horrendous year for equities, especially the more speculative plays such as meme stocks.To be fair, social media-driven investments th…
President Xi Jinping wants China to accelerate efforts to achieve self-reliance in agricultural technology, identifying seed development and core equipment among areas to focus on, state media reported.The central leadership had said in 2020 that the c…
Premiere Island Power REIT Corporation (stock symbol: PREIT) debuted on the Philippine Stock Exchange (PSE) on Thursday, December 15. PREIT is envisioned to be the power and infrastructure REIT platform of Prime Asset Ventures, Inc. PREIT’s initial portfolio includes land and power plant assets that are used by its Sponsors, S.I. Power Corporation and Camotes Island…
Wall Street stocks were positive on Wednesday morning, while government bonds and the dollar were muted, ahead of a U.S. Federal Reserve meeting later in the day and central bank decisions in Europe and Britain on Thursday.The subdued price moves follo…
U.S. crude oil stockpiles rose by more than 10 million barrels last week, the most since March 2021, buoyed by releases from the Strategic Petroleum Reserve and as refiners reduced activity. Crude inventories (USOILC=ECI) increased by 10.2 million barr…
I was about to get on a plane late Monday when the arrest of FTX and Alameda Research founder Sam Bankman-Fried in the Bahamas first became public. His profound and manifold criminality has been obvious for weeks, with more signs of disturbing corrupti…
Weekly consumer prices in Russia rose again but more slowly than the week before, data showed on Wednesday, all but confirming widely-held expectations that the central bank will keep its key interest rate on hold when it meets on Friday.Russia’s consu…
Spot basis bids for soybeans were steady-to-mixed on Wednesday morning across the eastern U.S. Midwest, while corn bids were steady-to-firmer.* Farmer selling remains quiet as growers monitor recent rains, brokers said.* Soybean bids firmed at an eleva…
D&L Industries, Inc. (DNL) celebrated its tenth anniversary as a publicly listed company through a bell ringing ceremony at the Philippine Stock Exchange (PSE) on Monday, December 12, which is exactly a decade after its initial public offering listing. DNL raised Php 5.3 billion from the sale of its primary and overallotment shares in 2012.…
Blackstone Inc NYSE:BX has warned of possible delays to the launch of a new private equity fund designed for wealthy individuals, as it copes with heavy investor withdrawals at two other funds in real estate and credit aimed at a similar clientele, the…
Residents near the site of the worst U.S. oil pipeline leak in a decade took the commotion and smell in stride as emergency crews labored to clean up in near-freezing temperatures, and investigators searched for clues to what caused the spill. A heavy …
The chief executive of Abu Dhabi state investor Mubadala (MUBDEV.UL) said on Saturday that 2023 would be a tough year for the global economy, but that the fund would be focused on opportunities serving a longer horizon.”If I look at the one-year horizo…
U.S. grocery chain Albertsons Companies Inc NYSE:ACI said that Washington State Court had denied a request of preliminary injunction by the state’s Attorney General to prevent the company from paying $4 billion to shareholders in a special dividend. Th…
The Russian-installed administration of Ukraine’s Kherson region said on Saturday that it had begun changing locally circulated Ukrainian hryvnia currency into Russian roubles, with hryvnia circulation in Moscow-controlled areas of the region to end on…
A quant has explained why the recent retest of a critical support level by Nasdaq may help Bitcoin reverse its own trend. Nasdaq-100 Has Recently Retested A Critical Support Trendline As pointed out by an analyst in a CryptoQuant post, Nasdaq-100 is currently above a support line that has historically been important. Nasdaq-100 (NDX) is a stock market index that includes 102 equity securities issued by 101 of the largest non-financial companies (based on their market caps) listed on the Nasdaq stock exchange. Here is a chart that shows how this trendline has acted as a bounce in the index’s price over the past decade: The value of the asset seems to have touched this line recently | Source: CryptoQuant As you can see in the above graph, the price of NDX has been supported five times by this trendline since the year 2010. In each of these instances, the line has put a check on the decline in the index, and has consequently reversed it back up. Related Reading: Upcoming FOMC Meeting Is The Most Important Ever For Bitcoin – Watch Out For The Dot Plot Recently, the Nasdaq-100 index has once again made a touch of this trendline, and has so far managed to stay above it. The quant notes that this retest could have been the end of the latest downwards trend, and might have also been the point of return of a bullish trend. However, if the trendline is lost instead, it would show the extreme strength of the downtrend, and would suggest that there is more drawdown ahead for the market. Related Reading: Is Bitcoin Bottom In? This On-Chain Condition Hasn’t Been Met Yet At the same time, Bitcoin has also been testing a support line, as the analyst has highlighted in the chart: Looks like BTC is also just above a support trendline right now | Source: CryptoQuant In the past year or so, Bitcoin has shown to be highly correlated with the stock market. The reason behind this correlation has been the rise of institutional investors in the crypto who treat it like a risk asset. The quant believes that if the current support retest in the stock market proves to be successful, then BTC could also be expected to see a reversal of its own due to its correlation with the stocks. Bitcoin Price At the time of writing, Bitcoin’s price floats around $17.2k, up 1% in the last week. Over the past month, the crypto has lost 7% in value. Below is a chart that shows the trend in the price of the coin over the last five days. The value of the crypto seems to have observed a sharp surge to $17.2k over the past day | Source: BTCUSD on TradingView Featured image from Maxim Hopman on Unsplash.com, charts from TradingView.com, CryptoQuant.com
U.S. stocks finished Friday’s choppy session with modest losses, capping off the worst week for stocks since September after a report on wholesale-price inflation challenged assumptions about slowing inflation in the U.S. The Dow Jones Industrial Avera…
U.S. stocks were trading down heading toward the closing bell Friday, with all three major benchmarks on track for weekly losses, as investors considered the latest wholesale inflation data ahead of the Federal Reserve’s policy meeting next week. The D…
U.S. oil futures settled lower on Friday to post a weekly loss of 11%. The “short-term crude demand outlook has deteriorated significantly as no one has a strong handle on how bad a recession will hit the U.S. economy,” said Edward Moya, senior market …
Gold futures climbed Friday for a fourth consecutive session to end the week modestly higher. The week was quiet for precious metals prices, “largely due to an equally uneventful week for some of the key drivers of prices,” such as the U.S. dollar, sai…
White House press secretary Karine Jean-Pierre on Friday played down a Fox Business report that said Bank of America CEO Brian Moynihan is on the Biden administration’s short list to replace Treasury Secretary Janet Yellen if Yellen decides to leave h…
Corn futures edged higher on Friday, but trade below the session’s best levels after the U.S. Department of Agriculture reduced its forecast for U.S. corn exports and raised its expectations for ending stocks for the 2022/2023 marking year. The governm…
The Federal Reserve’s interest-rate forecasts, set to be released next Wednesday, are likely to reflect a fed-funds rate that peaks at 5.1% next year and stays at that level by the end of next year, according to economists at Deutsche Bank. That would …
Senate Majority Leader Chuck Schumer said in a statement Friday that Sen. Kyrsten Sinema of Arizona asked him to keep her committee assignments and he agreed. Sinema announced earlier Friday that she’s leaving the Democratic Party to register as an ind…
Abbott Laboratories said Friday morning that it would be raising its dividend to 51 cents a share. The increase amounts to a 8.5% bump relative to the company’s prior quarterly dividend of 47 cents a share. Abbott Labs noted in the release that it has…
As its battle with the Federal Trade Commission deepens over the Activision Blizzard Inc. acquisition, Microsoft Corp. isn’t shying away from merger activity. The company announced in a Friday morning blog post that it has acquired Lumenisity Limited…
Bank of America resumed coverage on Credit Suisse with a buy rating now that the Swiss bank successfully raised 4 billion Swiss francs. The broker pointed out that it now has the same market cap as Julius Baer but is 1.5 times larger in wealth manag…
U.S. stock indexes opened lower on Friday after wholesale prices rose more than expected in November, dampening hopes that inflation might be cooling off. The Dow Jones Industrial Average lost 85 points, or 0.2%, to 33,717. The S&P 500 shed 0.2%, while…
White House press secretary Karine Jean-Pierre said in a statement Friday that the Biden administration understands that Sen. Kyrsten Sinema’s decision to “register as an independent in Arizona does not change the new Democratic majority control of the…
Gilead Sciences Inc. said Friday that it will co-develop and co-commercialize Arcellx Inc.’s multiple myeloma treatment candidate, which is currently in Phase 2 clinical trials. Gilead will pay Arcellx $225 million upfront, plus make a $100 million e…
U.S. stock futures tumbled on Friday, erasing earlier gains, after the latest batch of inflation data showed producer prices accelerated faster than some economists expected last month. Futures for the Dow Jones Industrial Average DJIA were off 158 poi…
Ryman Hospitality Properties said Friday it’s increasing its fourth-quarter dividend to 25 cents a share, from 10 cents a share in the third quarter. Shareholders of record as of Dec. 30 will be paid the dividend on Jan. 17. Shares of Ryman Hospitalit…
Swedish telecommunication equipment maker Ericsson said it’s reached a global cross-license for patented cellular standard-essential technologies with Apple that ends all ongoing patent-related legal disputes between the parties. Including effects o…
U.S.-listed shares of China Jo-Jo Drugstores Inc. were up about 21% in premarket trading on Friday. The company, which is based in Hangzhou, China, operates drugstores and an online pharmacy in China. It is also a wholesale distributor for pharmacy pr…
German media giant Bertelsmann said Friday Markus Dohle is stepping down as chief executive officer of Penguin Random House at the end of 2022, and resigning his seat on the Bertelsmann executive board at his own request.
Bertelsmann named Penguin Rand…
Adamas One Corp. said it priced 2.45 million shares at $4.50 a share for proceeds of $11 million in its initial public offering for trading on Friday on the Nasdaq. The Scottsdale, Ariz.-based company specializes in lab-grown diamonds for jewelry and …
Shares of Baudax Bio Inc. soared 62.6% in premarket trading on Friday, the day after the company said it started a Phase 2 clinical trial evaluating an experimental treatment for neuromuscular blockade in 80 adult patients having elective surgery. “Th…
Shares of Li Auto Inc. were off more than 1% in premarket trading Friday after the Chinese electric-vehicle company logged a wider-than-expected loss for its latest quarter. The company posted a third-quarter net loss of RMB1.65 billion ($231.3 millio…
Getty ImagesRead through a roundup of the COVID news you should know about:Foxconn urged looser COVID restrictions in China. The founder of Foxconn Technology Group FXCOF reportedly wrote a letter attempting to persuade the Chinese government to relax …
Pfizer Inc. and German partner BioNTech SE said Friday they have received fast track designation from the U.S. Food and Drug Administration for a single-dose-mRNA-based vaccine candidate targeting both COVID and flu. The companies already announced t…
U.S. known cases of COVID continued their upward march on Friday, as hospitalizations and deaths also rose by double-digit amounts. The daily average of new cases stood at 66,179 on Thursday, according to a New York Times tracker, up 53% from two weeks…
Sen. Kyrsten Sinema told Politico in an interview that she’s changing her party affiliation from Democrat to an independent. She said the move won’t affect the Senate structure and said she informed Majority Leader Chuck Schumer already. Democrats had …
Industrial technology company TE Connectivity Ltd. said Friday its board has approved an increase in its quarterly dividend to 59 cents a share from 56 cents. The Schaffhausen, Switzerland-based company said the new dividend will be payable for the fo…
The ASEAN Exchanges –Indonesia Stock Exchange (IDX), Bursa Malaysia, Philippine Stock Exchange, The Stock Exchange of Thailand, Singapore Exchange (SGX Group), and Vietnam Exchange, had gathered in Bali for the 35th ASEAN Exchanges CEOs Meeting last Friday (December 2). Hosted by IDX, the meeting aims to promote the synergy and collaboration among ASEAN Exchanges members…
Medical-products maker Cooper Cos. on Thursday forecast sales for the year ahead that were above expectations, helped by what management said were “share gains in contact lenses and fertility,” even though its profit forecast came up short. The compan…
Shares of Bath & Body Works Inc. were rising more than 5% in after-hours trading Thursday after Third Point LLC disclosed a stake in the company, which sells lotions, soaps, and candles. Third Point disclosed ownership of 13.75 million shares in a Sec…
The S&P 500 ended a five-session slide on Thursday as major U.S. equity indexes booked a solid round of daily gains. The Dow Jones Industrial Average rose about 182 points, or 0.5%, closing near 33,780, while the S&P 500 index gained 0.8% and the Nas…
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