Category: Market News
Shares of Big Lots Inc. BIG, -7.39% dove 7.1% toward a 2-year low in morning trading Tuesday, after the discount home essentials retailer disclosed Chief Merchandising Officer Jack Pestello had been terminated without cause. The disclosure comes after the stock tumbled 12.1% on Friday, after the retailer reported a surprise first-quarter loss and big sales […]
Hanesbrands Inc. HBI, +2.81% said Tuesday it was the subject of a ransomware attack on May 24 and activated business continuity plans and incident response to contain it. Ina regulatory filing, the company said it has informed law enforcement and is cooperating with the investigation. The maker of mens and womens’ underwear has engaged legal […]
The energy sector is on track to enjoy a unanimous rally Tuesday, as the European Union’s ban on Russian oil has sent crude oil futures surging. The SPDR Energy Select Sector ETF XLE, +1.83% rallied 1.0% in premarket trading, with all 21 equity components gaining ground. The biggest gainer is Pioneer Natural Resources Co.’s stock […]
Hewlett Packard Enterprise Co. HPE, +4.64% on Monday said it has developed the world’s fastest supercomputer, Frontier, in partnership with Advanced Micro Devices Inc. AMD, +3.55% and the U.S. Department of Energy’s Oak Ridge National Laboratory. At 1.1 exaflops, Frontier makes over 1,000,000,000,000,000,000 (or one billion-billion) calculations per second. Source: Marketwatch
Federal Reserve Gov. Christopher Waller, in a speech in Frankfurt, Germany, said he supports 50 basis point rate hikes for “several meetings,” which stands in contrast to Fed Chair Jerome Powell’s support for two consecutive half-point hikes, followed by reflection and a possible slowdown to quarter-point increases. “I support tightening policy by another 50 basis […]
Countryside Partnerships CSP, +20.79% shares rose 25% to 298 pence, the best performing FTSE All Share component, after San Francisco-based Inclusive Capital Partners disclosed its made its second approach to buy the company. In-Cap said it’s weighing a possible offer of 295 pence per share. In-Cap, which already owns 9.2% of Countryside, said the U.K. […]
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. […]