Latest Market News
The U.S. economy contracted at a negative 1.5% annual rate in the first quarter instead of the initial estimate of negative 1.4%, revised government data released Thursday show. Forecasters surveyed by the Wall Street Journal had expected a slight upward revision to a negative 1.3% reading. Economists believe the contraction overstates the slowing economy. Most […]
Ayr Wellness Inc. ayr said Thursday its first-quarter loss narrowed to $7.58 million, or 11 cents a share, from $16.62 million, or 38 cents a share in the year-ago quarter. First-quarter revenue at the Miami-based cannabis company rose to $111.23 million from $58.4 million. Adjusted Ebitda increased to $19.5 million from $18.4 million. Analysts expected […]
Shares of Jack in the Box Inc. JACK, -2.66% dove 11.2% toward a 2-year low in premarket trading Thursday, after the fast-food restaurant chain reported a fiscal second-quarter profit miss, a surprise decline in same-store sales and a downbeat full-year earnings outlook, citing continued “inflationary pressure” facing the industry. Net income dropped to $7.8 million, […]
Shares of Avadel Pharmaceuticals PLC AVDL, +133.64% tumbled 21.6% in premarket trading on Thursday after the company said in a securities filing that the Food and Drug Administration requested additional information for its experimental narcolepsy drug. Avadel said it now expects to get a FDA decision on the drug, FT218, by June of next year. […]
Shares of Big Lots Inc. BIG, -12.10% plunged 21.2% toward a two-year low in premarket trading Friday, after the home discount retailer swung to a surprise fiscal first-quarter loss and sales that fell more than forecast, as gross margin fell amid challenging changes in consumer demand. The net loss for the quarter to April 30 […]
The White House on Thursday announced more steps to make the antiviral treatment Paxlovid more accessible across the U.S. as it projects COVID-19 infections will continue to spread over the summer travel season, the Associated Press reported. The nation’s first federally backed test-to-treat site is opening Thursday in Rhode Island, providing patients with immediate access […]