Category: Market News
Allegion Plc ALLE, +2.16% said Friday it agreed to buy Access Technologies LLC from Stanley Black & Decker Inc. SWK, -1.91% for $810 million. The price values the manufacturer, installer and service provider of automatic doors in North America at about 2.4 times its $340 million annual revenue. Allegion said it’s received committed financing from […]
Shares of Newmont Corp. NEM, -3.30% sank 2.1% in premarket trading Friday, after the gold miner reported first-quarter profit and sales that came up shy of forecasts, as costs increased at a faster pace than sales. Net income fell to $48 million, or 56 cents a share, from $559 million, or 70 cents a share, […]
Kimberly-Clark Corp. KMB, +8.13% stock rose 4.5% in Friday premarket trading after it reported first-quarter earnings that beat expectations and raised its full-year guidance. The 150-year-old consumer products company posted net income of $523 million, or $1.55 per share, down from $584 million, or $1.72 per share, last year. Adjusted EPS of $1.35 beat the […]
HCA Healthcare Inc. shares HCA, -21.82% slid 10.6% in premarket trade Friday, after the operator of hospitals and walk-in centers missed revenue estimates for the first quarter and lowered its guidance, hurt by inflation and rising costs. The company posted net income of $1.273 billion, or $4.14 a share, for the quarter, compared with $1.423 […]
Stocks were trading modestly lower after the opening bell Friday, with the S&P 500 turning negative for the week as Treasury yields push to levels last seen in late 2018. An early rally for equities on Thursday turned into a rout after Federal Reserve Chairman Jerome Powell signaled that a half-point rate hike was “on […]
Shares of Vallon Pharmaceuticals Inc. VLON, +100.88% skyrocketed 89.0% on massive volume in morning trading Friday after the biopharmaceutical company said it is exploring strategic alternatives, including a possible sale of the company. Trading volume spiked to 82.8 million shares, compared with the full-day average of about 720,000 shares. Vallon’s stock was currently the biggest […]
Research firm Veda Partners predicted a 70% chance that the Secure and Fair Enforcement (SAFE) Banking measure to open up the U.S. financial system to cannabis companies will pass Congress this year during its lame duck session after the November election, according to a note published Thursday. If Republicans re-take the House of Representatives and/or […]
Traders of fed funds futures foresee a 94% chance that the Federal Reserve will deliver a 75 basis point rate hike in June, up from 70% on Thursday and 28% a week ago, according to the CME FedWatch Tool. That would be the first Fed hike of that size since November 1994. In total, traders […]
The 10-year breakeven rate, a gauge of where investors see annual inflation rates over the next decade, is hovering around 3.03% on Friday, close to a record high, based on Tradeweb data since 2003. The rate closed above 3% for the first time on Thursday, when Federal Reserve Chairman Jerome Powell affirmed that a half-point […]
The Humane Society announced Friday that it has called on the Securities and Exchange Commission to investigate McDonald’s Corp. MCD, -1.99% “for deceiving shareholders and the public about its animal confinement policies.” The Humane Society is a shareholder, and previously filed a proposal on the company’s animal welfare practices. “McDonald’s has admitted-albeit very briefly in […]