Category: Market News

Pfizer Inc. said Thursday it has agreed to acquire ReViral Ltd., a privately held clinical-stage biotech focused on developing antiviral therapeutics that target respiratory synctial virus, or RSV. “RSV is a respiratory pathogen, which can lead to severe and life-threatening lower respiratory tract infections (LRTIs) in high-risk populations, including young infants, immunocompromised individuals, and older […]

Meta Platforms’ financial arm, Meta Financial Technologies, has been exploring the creation of a virtual currency for the metaverse, the Financial Times reported, citing people familiar with the matter. So-called “Zuck Bucks” would be in-app tokens controlled by the company, rather than a cryptocurrency on the blockchain, the report said, which is similar to the […]

The Federal Reserve eventually could resort to selling off mortgage-backed securities on its balance sheet, according to the minutes of the central bank’s last strategy session in March. During the March meeting, Fed officials reviewed the results of the central bank’s previous efforts at shrinking its balance sheet between 2017 and 2019. Amid the COVID-19 […]

A Senate floor vote on the confirmation of Judge Ketanji Brown Jackson to serve on the U.S. Supreme Court has been set for Thursday at 1:45 p.m. by Majority Leader Chuck Schumer, according to reports. Three Republicans have verbally committed themselves to vote to confirm Jackson, suggesting a likely 53-47 vote, in the wake of […]

Stocks ended lower but off their worst levels, with the tech-heavy Nasdaq Composite bearing the brunt of selling pressure for a second session Wednesday after minutes of the Federal Reserve’s March policy meeting outlined plans for shrinking the central bank’s nearly $9 trillion balance sheet. The Dow Jones Industrial Average ended with a loss of […]

Costco Wholesale Corp. COST, +1.65% said late Wednesday its March sales rose 18.7% to $21.61 billion, from $18.21 billion in March 2021. Comparable-store sales rose 17.2%, including a 19.1% increase in same-store sales in the U.S., Costco said. The five-week March retail month had one extra shopping day, which helped total and comparable-store sales by […]

President Joe Biden on Wednesday announced two nominees for the Securities and Exchange Commission. A White House statement said Biden is tapping Jaime Lizárraga, currently a senior adviser to House Speaker Nancy Pelosi, a California Democrat, and Mark Uyeda, an SEC attorney who is currently on detail to the Senate Banking Committee. Source: Marketwatch

NordicTrack brand owner iFit Health & Fitness Inc. is scrapping its plans for an already postponed initial public offering, according to a filing with the Securities and Exchange Commission on Wednesday. In its brief filing with the SEC, iFit merely said: “The company is applying for withdrawal of the registration statement because the company has […]

In the latest sign that multi-cloud computing awards will become a corporate and government agency norm, Boeing Co. BA, -2.24% on Wednesday announced it has awarded a contract to the three biggest U.S. cloud-computing companies — Amazon.com Inc.’s AWS AMZN, -3.19%, Microsoft Corp. MSFT, -4.33% and Alphabet Inc.’s Google GOOGL, -3.00% GOOG, -2.85% — to […]

The Energy Information Administration reported on Wednesday that U.S. crude inventories rose by 2.4 million barrels for the week ended April 1. That followed declines in each of the previous two weeks. On average, the EIA was expected to show crude inventories down by more than 1.85 million barrels, according to analysts surveyed by S&P […]