Category: Market News
Livent Corp. LTHM, +2.57% shares rallied more than 14% in the extended session Tuesday after the lithium and lithium compounds producer beat Wall Street expectations for its first quarter and raised its guidance for the year, saying that demand for lithium, used in batteries of all sizes and in myriad of other products, continues to […]
Akamai Technologies Inc. AKAM, +1.33% stock fell more than 10% in after-hours trading Tuesday after the cybersecurity and computing company reported a mixed first quarter. Akamai said it earned $119 million, or 73 cents a share, in the quarter, compared with $156 million, or 94 cents a share, in the year-ago quarter. Adjusted for one-time […]
The American Petroleum Institute on Tuesday afternoon reported that U.S. crude-oil inventories fell 3.48 million barrels last week, a source said, while inventories of distillates dropped 4.46 million barrels and gasoline stocks were down 4.5 million barrels. The Energy Information Administration will release official inventory data on Wednesday morning. Analysts surveyed by S&P Global Platts, […]
Shares of Manitowoc Co. MTW, +0.51% fell more than 5% in the extended session Tuesday after the maker of cranes and other construction equipment reported mixed first-quarter results, beating analyst expectations on revenue, and said demand for cranes continues unabated despite “clear signs of economic slowdown.” Manitowoc said it earned $3.1 million, or 9 cents […]
Secretary of State Antony Blinken will deliver a long-awaited speech outlining the Biden administration’s policy toward China on Thursday, the State Department announced on Tuesday. Blinken, reported Politico, will underscore the Biden administration’s existing policy toward Beijing modeled on what it inherited from the Trump administration, and will give an overview of the strategy rather […]
Shares of Charter Communications Inc. CHTR, -0.55% were off 1.3% in afternoon trading Tuesday after Bank of America analyst Jessica Reif Ehrlich cut her rating on the stock to neutral from buy, citing concerns about growing competition in the broadband market. Reif Ehrlich worries about emerging threats to broadband incumbents from fiber and fixed-wireless access […]
A draft opinion of a pending Supreme Court abortion-rights decision is authentic, said Chief Justice John Roberts in a statement on Tuesday, as he ordered an investigation into how the document was leaked. Late Monday, Politico published a draft majority opinion showing that the high court intends to strike down the landmark Roe v. Wade […]
Petco Health & Wellness Co. Inc. WOOF, +0.37% has partnered with outdoor retailer Backcountry to launch a line of pet items, including travel gear, apparel and accessories, for outdoor enthusiasts. Backcountry Chief Executive Melanie Cox said in a statement that 84% of the company’s customers have pets. Pet adoption soared during the pandemic. Petco stock […]
Shares of DocuSign Inc. DOCU, +5.96% were off more than 4% in premarket trading Tuesday after Wedbush analyst Dan Ives cut his rating on the e-signature stock to underperform from neutral, citing a more challenging landscape for a company that was a big winner early in the pandemic. “[W]e believe the company is seeing a […]
New York City is averaging 2,654 COVID cases a day, up 17% from two weeks ago, according to a New York Times tracker, a day after the city raised its COVID alert level to medium from low, signaling that cases are rising at an undesirably fast pace. In early March, the city was averaging about […]