Latest Market News
Ethereum’s Merge on Sep. 15 turned out to be a sell-the-news event, which looks set to continue. Notably, Ether (ETH) dropped considerably against the U.S. dollar and Bitcoin (BTC) after the Merge. As of Sep. 22, ETH/USD and ETH/BTC trading pairs were down by more than 20% and 17%, respectively, since Ethereum’s switch to Proof-of-Stake (PoS. ETH/USD and […]
Shares of Ford Motor Co. F, -0.57% eased about 0.1% in morning trading Tuesday, while the S&P 500 SPX, -0.50% dropped 0.5%, after the auto maker announced leadership changes as it looks to accelerate its “Ford+” growth plan, and as it enters an “intense period of execution” of its $50 billion investment in electric vehicles […]
Raymond James on Thursday launched analyst coverage of six insurers, with Prudential Financial Inc. PRU, -0.11% (price target $115), Voya Financial Inc. VOYA, -0.77% (price target $84) and Globe Life Inc. GL, -0.08% (price target $138) all drawing strong buy ratings. Raymond James assigned market perform ratings to MetLife Inc. MET, -0.79%, Principal Financial Group […]
Shares of Eli Lilly & Co. Inc. LLY, +2.04% gained 2.5% in premarket trading on Thursday after UBS upgraded the stock to buy from neutral, saying Mounjaro, the company’s newly approved Type 2 diabetes drug, could be “the biggest drug ever.” UBS analysts predict peak sales of $25 billion if the therapy is also approved […]
New York City held on to its top ranking over No. 2 London among cities in the Global Financial Centres Index, Reuters reported Thursday, citing data from London-based think tank Z/Yen. Hong Kong fell to fourth place and Singapore moved up to third. Moscow’s ranking dropped to 73rd from 51 in the face of economic […]
Activist shareholder Ancora Holdings Group LLC on Thursday urged the board of Kohl’s Corp. KSS, +0.14% to replace its chairman Peter Boneparth and chief executive Michelle Gass with a leader with turnaround experience. In a letter to the board made public, Ancora said the retailer’s “botched strategic review, credit downgrade, dramatic decline in sales, elevated […]