Day: October 18, 2022
Carvana Co. shares CVNA, +0.99% have lost more than 90% of their value this year, but one analyst isn’t betting on a rally from here. Wedbush analyst Seth Basham downgraded Carvana’s stock to neutral from outperform Tuesday, writing that “a further deterioration in market conditions, a bloated cost structure, and high cash burn” make it […]
Facebook parent company Meta Platforms Inc. META, -0.25% on Tuesday said it has agreed to sell off Giphy, a social media GIF library it acquired for a reported $400 million in 2020, after the U.K.’s Competition and Markets Authority (CMA) upheld an earlier ruling for Meta to divest. In its ruling Tuesday, the CMA found […]
Zurich-based Credit Suisse AG CS, +3.92% CSGN, +1.57% could seek at least $2 billion in a potential capital increase, and has lined up big banks just in case, according to a Tuesday report by Bloomberg, [l: which cited sources. Those banks include Morgan Stanley MS, +2.96% and Royal Bank of Canada RY, +0.71% RY, +1.08%, […]
The yen has fallen to its lowest level in more than three decades against the dollar, hurt by Japan’s refusal “to play the tightening game that foreign central banks like the Federal Reserve have spearheaded,” said XM senior investment analyst Marios Hadjikyriacos. This rates dynamic is one reason the yen has lost its safe-haven appeal. […]
President Joe Biden in a speech around 12: 15 p.m. Eastern Tuesday is expected to promise that if Democrats maintain their control of Congress in the midterm elections, then the first bill that he sends to U.S. lawmakers in the next session will aim to codify abortion rights, according to multiple published reports. Democrats have […]
EURUSD, “Euro vs US Dollar” EURUSD has formed a consolidation range around 0.9790 and continues to correct to 0.9873. After this level has been reached, the downside link to the level of 0.9790 is not excluded (test from above). Next, consider the likelihood of another upside structure to 0.9950. GBPUSD, “Great Britain Pound vs US […]
Doral Renewables said Tuesday it agreed to sell up to $500 million in convertible notes to Apollo Global Management Inc. APO, +2.69% and Israel-based Migdal Insurance in a deal that values the Philadelphia solar power and storage developer at $1.5 billion. Apollo partner Corinne Still is joining the board of Doral Renewables as part of […]
Law enforcement agencies are “very often” not properly trained or equipped to track crypto crimes, Interpol secretary general Jürgen Stock said. 1074 Total views 18 Total shares The International Criminal Police Organization is reportedly planning to strengthen its crackdown on cryptocurrency-related crimes by forming a dedicated division. Interpol, the world’s largest global police organization, has […]
United Parcel Service Inc.’s UPS, +1.00% aircraft maintenance and related workers’ union approved on Tuesday a three-year deal that boosts wages for 1,675 Teamsters members and raises pension contributions by the package delivery giant. The deal was approved by more than 87% of union members who voted. Under terms of the deal, annual wages will […]
Shares of Darling Ingredients Inc. DAR, +0.64% fell 0.9% in premarket trading Tuesday, after the producer of natural ingredients from edible and inedible bio-nutrients announced a deal to buy collagen producer Gelnex for $1.2 billion in cash. The deal is expected to close in the first quarter of 2023. Brazil-based Gelnex produces about 46,000 metric […]
