Category: Market News
Shares of iQIYI Inc. IQ, +14.81% soared 17.7% in afternoon trading Monday, after a double upgrade by J.P. Morgan analyst Alex Yao to buy from underweight, saying the China-based streaming-video company is a beneficiary of a new paradigm surrounding China’s long-form video industry, in which major platforms switch focus to profitability from expansion. Yao multiplied […]
The Food and Drug Administration said Monday that it won’t authorize fluvoxamine, a generic treatment for obsessive-compulsive disorder, as a COVID-19 therapy. “The FDA has determined that the data are insufficient to conclude that fluvoxamine may be effective in the treatment of nonhospitalized patients with COVID-19 to prevent progression to severe disease and/or hospitalization,” the […]
U.S. stocks closed mixed Monday, with equities losing steam in the final 15 minutes of trade. The Dow Jones Industrial Average DJIA, +0.08% rose about 27 points, or 0.1%, to end near 32,224, after trading almost 300 points higher earlier in the session, according to FactSet data. The S&P 500 index SPX, -0.39% shed 0.4%, […]
The Food and Drug Administration on Monday authorized a test developed by Laboratory Corporation of America Holdings LH, -0.90% that allows people in the U.S. to self-test for respiratory syncytial virus (RSV), a type of common cold, as well as the flu and COVID-19. The test does not require a prescription. People swab at home […]
Walmart Inc. WMT, -0.30% said Monday that it is piloting the College2Career program this summer, which will focus on putting new college grads on a career path with the retail giant. College graduates and college students within a year of graduation are eligible. The program offers training, classwork and mentorship leading to a newly-created management […]
Starbucks Corp. SBUX, -3.01% announced Monday that it has added a worker healthcare benefit, offering travel cost reimbursement to those who are enrolled in its program and seeking an abortion or gender-affirming procedures. The announcement comes after a leaked draft of a Supreme Court decision threatens to overturn Roe vs. Wade. The benefit will apply […]
Nucor Corp. NUE, -0.68% said Monday it has entered an agreement with private-equity firm Kohlberg Kravis Roberts & Co. KKR, +7.11% to acquire C.H.I. Overhead Doors in a deal valued at $3.0 billion. C.H.I. makes overhead doors for the residential and commercial markets in the U.S. and Canada. Charlotte, N.C.-based Nucor makes steel and steel […]
Shares of Apple Inc. AAPL, +3.19% sank 4.7% in afternoon trading Thursday, putting them on track to close at a seven-month low. After sinking 5.2% on Wednesday, the technology behemoth’s stock has now lost 9.6% in two days, the worst two-day performance since it dove 9.9% in the two days ended Sept. 3, 2020. Apple […]
Shares of Twitter Inc. TWTR, -9.67% plunged 17.9% in premarket trading Friday, after Elon Musk tweeted that the deal to buy the social media company was “temporarily on hold.” Musk, the chief executive of electric vehicle maker Tesla Inc. TSLA, +5.71%, said the hold on the deal is “pending details supporting calculation that spam/fake accounts […]
Honest Co. Inc. HNST, +8.19% shares rose 2.1% in Friday premarket trading after it reported a narrower-than-expected first-quarter loss and revenue that was roughly in line with expectations. The company, which produces “clean” beauty, household, and baby products, posted a net loss of $14.6 million, or 16 cents per share, after a loss of $4.5 […]