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An earlier version of this article incorrectly characterized Michael Dell’s role in MSD. This has been corrected. BDT & Company Holdings LLC and MSD Partners LP said they would combine in a merger of two investment firms involving billionaires. The name of the combined firm had not yet been determined. Billionaire Byron Trott of BDT, […]
Shares of real estate services companies rallied Thursday, after data showing that existing-home sales fell again in September, but managed to beat expectations. Zillow Group Inc.’s stock Z, +2.02% ZG, +2.07% surged 1.9% in morning trading, reversing an earlier decline of as much as 0.8%, while Redfin Corp. shares RDFN, +4.17% jumped 4.6% after being […]
U.S. stocks opened marginally lower on Thursday as investors reacted to Treasury yields touching 14-year highs, along with Tesla Inc. TSLA, -3.54% earnings that fell short of expectations and the resignation of U.K. Prime Minister Liz Truss. The S&P 500 SPX, +0.76% fell 4.5 points, or 0.1%, to 3,690. The Nasdaq Composite COMP, +1.30% shed […]
Leafly Inc. LFLY, +1.74% is eliminating about a fifth of its jobs as it moves to generate cost savings. The cannabis marketplace said it’s cutting 56 positions, or 21% of its workforce, through layoffs and attrition. Leafly will book a $500,000 charge in the fourth quarter for expenses related to the move. The company said […]
D.A Davidson on Thursday cut its rating on financial services firm Comerica Inc. CMA, -1.91% to neutral from buy. Analyst Peter Winter said one main reason for the downgrade is that Comerica’s net interest income may peak in the fourth quarter, with some downside risk. He also cited deposit outflows that are “more than expected […]
American Airlines Group Inc. [s:aal] shares jumped 2.4% before market open, lifted by the company’s third-quarter results and robust fourth-quarter guidance. The carrier earned 69 cents a share on net income of $483 million, compared with a loss of 25 cents a share on net income of $169 million in the prior-year’s quarter. Excluding items, […]