Day: September 14, 2022
Shares of railroad operators fell Wednesday, helping drag the Dow Jones Transportation Average DJT, -0.35% down by 1.3% in midday trading despite a 39-point gain in the Dow Jones Industrial Average DJIA, +0.06% and 0.3% rise in the S&P 500 SPX, +0.27%, amid concerns over a possible labor strike. Shares of Union Pacific Corp. UNP, […]
Philip Morris International Inc. PM, -0.53% said Wednesday that it has appointed two former officials with the U.S. Food and Drug Administration to positions that will accelerate the cigarette maker’s transition to a smoke-free future. The company said it has appointed Dr. Badrul Chowdhury, who was a regulator in the FDA’s pulmonary division, as its […]
Sarepta Therapeutics Inc. SRPT, +0.89% said Wednesday it has priced $980 million of convertible senior unsecured notes that mature in September of 2027. The company will reduce the potential dilution of issuing new shares by entering capped call transactions with one or more dealers. Proceeds will be used to cover the cost of those transactions, […]
The US inflation report came as a big surprise to many investors as despite solid signals for a drop below 8% (decline in new car sales, falling gasoline prices), headline inflation was quite persistent, inching lower marginally to 8.3%. Core inflation accelerated more than expected – from 5.9% to 6.3%, beating the forecast of 6.1%. […]
JPY Rallying on Wednesday The Japanese Yen has seen a fresh wave of demand today. Part of the rally is clearly down to safe-haven inflows linked to the drop in risk assets on the back of yesterday’s stronger-than-expected US CPI reading. With markets rushing to price in a larger Fed rate hike this month, USD […]
Lower-middle income countries hold a majority of the positions in the top 20 countries in terms of crypto adoption. 1534 Total views 23 Total shares While global adoption slowed down because of the chilling winds brought about by the crypto winter, emerging markets seem to be on fire in terms of crypto adoption as they […]
Palo Alto Networks Inc.’s PANW, -0.45% three-for-one stock split went into effect Tuesday following the cybersecurity company’s announcement during its quarterly earnings report in late August. Shares opened at $183.75 Tuesday and were last down 1% from Monday’s split-adjusted close of $182.96, for a year-to-date of about 2% decline, compared with a 23% fall in […]
The Energy Information Administration on Wednesday reported that U.S. crude inventories rose by 2.4 million barrels for the week ended Sept. 9. On average, analysts expected a climb of 1.2 million barrels, according to a poll conducted by S&P Global Commodity Insights. The EIA also said gasoline stockpiles declined by 1.8 million barrels last week, […]
U.S. stocks opened modestly higher on Wednesday as the market attempted to bounce back from its worst loss in two years. The S&P 500 SPX, +0.48% advanced 12 points, or 0.3%, to 3,944. The Dow Jones Industrial Average DJIA, +0.36% gained 77 points, or 0.3%, to 31,182. The Nasdaq Composite COMP, +0.74% gained 47 points, […]
Shares of Nucor Corp. NUE, -9.29% sank 4.5% toward a seven-week low in premarket trading Wednesday, after the steel maker issued a third-quarter profit warning, as weakness in its steel mills business is offsetting strength in steel products. The company expects earnings per share of $6.30 to $6.40, down from $7.28 in the year-ago period, […]
