Category: Market News
Raymond James analyst C. Gregory Peters on Friday cut his rating on title insurance provider Old Republic International Corp. ORI, -3.39% to outperform from strong buy and trimmed his price target by $2 a share to $28. Peters cited near-term headwinds in the its title business, which comprises 48% of Old Republic’s revenue. The move […]
Tesla Inc. shares TSLA, -0.45% rose 3% in premarket trade Friday, after Chief Executive Elon Musk said he sold $4 billion of his stock this week, but tweeted that no further sales were planned. Musk, whose offer to buy Twitter Inc. TWTR, +0.97% was accepted by its board earlier this week, made the disclosures in […]
California Attorney General Rob Bonta said Thursday his office has issued a subpoena to Exxon Mobil Corp. XOM, +3.02% as part of the office’s investigation into the energy industry’s “role” in allegedly “causing and exacerbating the global plastics pollution crisis.” The attorney general was seeking “information relating to the company’s role in deceiving the public,” […]
Tesla CEO TSLA, -0.45% Elon Musk reportedly discussed job cuts and ways of monetizing Twitter TWTR, +0.97% with bankers during negotiations for his $44 billion takeover of the online news and social networking site. Without offering specifics, Musk said cutting costs and jobs would help generate returns for Twitter, according to a Thursday report on […]
Shares of Western Union Co. WU, +3.06% fell more than 4% in the extended session Thursday after the financial services company reported quarterly results within expectations but tweaked its 2022 outlook lower, saying it was impacted by halting its business in Russia and Belarus due to the war in Ukraine. Western Union said it earned […]
Shares of Mohawk Industries Inc. MHK, +3.84% rallied more than 14% in the extended session Thursday after the flooring products maker reported earnings and sales above Wall Street expectations, thanks to higher prices and unabated demand. Mohawk said it earned $245 million, or $3.78 a share, in the quarter, compared with $237 million, or $3.36 […]
Shares of U.S. Steel Corp. X, +1.29% rose nearly 3% in the extended session Thursday after the steel maker reported adjusted earnings above expectations and revenue that met estimates, saying that customers are noticing the importance of having a domestic steel source. U.S. Steel said it earned $882 million, or $3.02 a share, in the […]
Stocks jumped Thursday, with tech stocks leading the way as investors cheered user growth at Facebook parent Meta Platforms Inc. The Dow Jones Industrial Average DJIA, +1.85% rose around 614 points, or 1.8%, to close near 33,916, according to preliminary figures. The S&P 500 SPX, +2.47% advanced around 104 points, or 2.5%, to finish near […]
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
President Joe Biden on Thursday offered additional information on his administration’s next steps with student loans, after Senate Majority Leader Chuck Schumer, the New York Democrat, suggested the president was getting closer to cancelling up to $50,000 in student debt per borrower. “I am not considering $50,000 debt reduction, but I’m in the process of […]