Category: Market News
Oil futures on Friday ended lower for the session, contributing to a weekly loss of nearly 8% for U.S. benchmark crude prices. “With many analysts and economists now forecasting a recession as their base case outlook for 2023, demand estimates for everything from energy products to industrial metals are taking a hit,” said Tyler Richey, […]
Baker Hughes [s: bkr] on Friday reported that the number of active U.S. rigs drilling for oil rose by eight to 610 this week. That followed a decline of two in the previous week. The total active U.S. rig count, which includes those drilling for natural gas, climbed by seven to 769, according to Baker […]
Wells Fargo & Co. WFC, +3.33% on Friday reported total head count of 239,209 as of Sept. 30, down from 243,674 people at the end of the second quarter and 253,871 at the end of the year-ago quarter. During the quarter, Wells Fargo said it was reducing head count in its mortgage unit as demand […]
Shares of Plug Power Inc. PLUG, -0.42% sank 7.0% in premarket trading Friday, after the hydrogen and fuel cell systems company said 2022 revenue could be 5% to 10% below previous guidance, as some larger projects could potentially be completed in 2023 rather than 2022. From the midpoint of the previous 2022 revenue guidance of […]
Shares of Nutanix Inc. NTNX, +0.76% soared 20.2% toward a five-month high in premarket trading Friday, after The Wall Street Journal reported that the cloud services company has received buyout interest and is exploring a sale. The WSJ report, which cited people familiar with the matter, said Nutanix is expected to target private-equity and industry […]
Steven Goldstein is based in London and responsible for MarketWatch’s coverage of financial markets in Europe, with a particular focus on global macro and commodities. Previously, he was Washington bureau chief, directing MarketWatch’s economic, political and regulatory coverage. Follow Steve on Twitter: @MKTWgoldstein. Source: Marketwatch
Alcoa Corp. AA, +2.56%, a large miner and producer of aluminum, has asked the White House to halt U.S. imports of the metal from Russia, according to Reuters. The move comes as Russia intensifies its attacks on Ukraine. “Alcoa believes that the U.S. government and other countries should sanction Russian aluminum,” a company representative told […]
Facebook parent company Meta Platforms Inc. META, +2.19% on Thursday filed a motion in federal court to dismiss the Federal Trade Commission’s lawsuit to block Meta’s acquisition of VR company Within. “The FTC’s attempt to fix its ill-conceived complaint still ignores the facts and the law and relies on pure speculation of a hypothetical future […]
The House select committee investigating the Jan. 6, 2021, attack on the U.S. Capitol plans to vote Thursday to subpoena former President Donald Trump, according to multiple reports. The panel is holding what’s likely to be its final public hearing on Thursday, presenting evidence in an effort to show that Trump had a plan to […]
Gannett Co. Inc. GCI, -3.93% informed staff on Wednesday that it’s temporarily suspending its 401(k) match from Oct. 24 and mandating five days of unpaid leave in December, as part of a latest round of cost cuts. In a memo circulated by Editor & Publisher, Chief Executive Mike Reed said the publisher is also offering […]
