Latest Market News
The Chinese hedge fund segment, worth about $1 trillion, could worsen the turmoil in the stock market, as massive losses force some portfolio managers to cover their loss by indiscriminately selling their assets.Some 2,350 equity-linked hedge funds fell below the point at which they would normally need to cut holdings last month, with many close […]
The daily average for new COVID-19 cases topped the 100,000 mark of the third straight day and hospitalizations keep rising, but deaths fell to a 10-month low. Meanwhile, advisors to the Centers for Disease Control and Prevention recommended that children aged 5 to 11 receive the COVID-19 booster shot from Pfizer Inc. PFE, +3.59% and […]
Shares of Deere & Co. DE, -14.07% fell 1.8% toward a three-month low in premarket trading Friday, even after the agriculture, construction and forestry equipment maker reported fiscal second-quarter profit and revenue that rose above expectations, as “strong demand” helped offset supply-chain pressures. Net income increased to $2.10 billion, or $6.81 a share, from $1.79 […]
Shares of Foghorn Therapeutics Inc. FHTX, +18.08% were down 23.7% in premarket trading on Friday, the day after the company said U.S. regulators had placed a partial clinical hold on a Phase 1 clinical trial assessing an experimental therapy for relapsed and/or refractory acute myelogenous leukemia. The Food and Drug Administration has asked for a […]
Shares of THG THG, +24.52% climbed 25% in London as a potential bidding war emerged for the U.K.-listed online retailer, known as the Hut Group. THG said late Thursday that it had rejected a proposal from a group of investment companies led by Belerion Capital and King Street Capital Management for 170 pence a share, […]
Frontdoor Inc. FTDR, +1.03% said Friday that Chief Executive Rex Tibbens will step down, effective June 1, after four years in the role. The home-service plan provider, which brands include American Home Shield, Landmark and OneGuard, said Chairman William Cobb will succeed Tibbens, who will remain at the company through June 30 in an advisory […]