Category: Market News

The SPDR S&P Biotech ETF XBI, -8.21% closed at a five-year low of $64.37 on Monday as U.S. stocks plunged on concerns about continued inflation and the threat of weaker growth. The last time the price for the biotech ETF was down this low was in December 2018. “A combination of clinical and regulatory setbacks, […]

Shares of Playtika Holding Corp. PLTK, -11.80% shed 3.1% in premarket trading Tuesday, after the Israel-based mobile games company reported net income that rose nearly four-fold but revenue that came up shy of expectations, and provided a downbeat full-year outlook. Net income rose to $98.6 million, or 20 cents a share, from $25.7 million, or […]

U.S. stock indexes finished deeper in the red on Monday, with energy and technology stocks leading a swoon ahead of the closing bell. The Dow Jones Industrial Average DJIA, -1.99% lost about 653 points, or 2%, to end near 32,245. Declines were even steeper for the S&P 500 index SPX, -3.20%, which tumbled 3.2% to […]

White House press secretary Jen Psaki on Monday pushed back after a reporter asked if economists such as Larry Summers were right last year to warn that some government policies were going to lead to inflation. “I wouldn’t say we agreed with them then and we don’t agree with them now,” Psaki told reporters during […]

Plug Power Inc. PLUG, -14.32% stock fell more than 6% in the extended session Monday after the hydrogen fuel-cell company reported a wider-than-expected quarterly loss and revenue was below expectations, saying that higher natural-gas prices have hit its margins. Plug Power lost $157 million, or 27 cents a share, in the first quarter, compared with […]

ThredUp Inc. TDUP, -13.42% shares fell nearly 10% in the extended session Monday after the secondhand retailer posted mixed quarterly results, with sales above expectations but losses wider than Wall Street estimated. ThredUp said it lost $21 million, or 21 cents a share, in the quarter, compared with a loss of $16 million, or 86 […]

Gay-dating app Grindr said late Monday it has agreed to merge with a so-called blank-check company in a deal that values the combined company, to be called Grindr Inc., at $2.1 billion. The business combination with special purpose acquisition company Tiga Acquisition Corp. TINV, would raise about $384 million, Grindr said. Its business is a […]

Shares of CarGurus Inc. CARG, -6.05% dropped 12% in the extended session Monday after the online car marketplace reported first-quarter earnings and sales that beat Wall Street expectations, but called for lower-than-expected adjusted per-share earnings for its second quarter. CarGurus said it lost $62.1 million, or 53 cents a share, in the first quarter, compared […]

William Watts is MarketWatch’s senior markets writer. Based in New York, Watts writes about stocks, bonds, currencies and commodities, including oil. He also writes about global macro issues and trading strategies. Before moving to New York, he reported for MarketWatch from Frankfurt, London and Washington, D.C. Source: Marketwatch

Shares of Philip Morris International Inc. PM, +1.62% rallied 1.6% in midday trading Monday, after the cigarette and smokeless tobacco giant confirmed that it was in talks with Swedish Match AB SWMAY, +20.73% SWMA, -0.58% regarding a potential buyout bid. “The discussions are in progress and it is uncertain whether an offer will be made,” […]