Category: Market News
U.S. stocks finished higher on Friday, with all three U.S. indexes sweeping to big weekly gains, after the Federal Reserve raised its benchmark rate for the first time since 2018 to help tighten financial conditions and tackle high inflation. The Fed move was widely expected, helping to embolden bullishness on Wall Street. S&P 500 SPX, […]
General Motors Co. GM, +2.66% is making a bigger bet on its autonomous-driving unit Cruise, saying late Friday it was buying Softbank Vision Fund’s stake in the business. GM has agreed to buy the tech-heavy fund’s stake for $2.1 billion, GM said in a filing. GM will also make an additional $1.35 billion investment in […]
Halliburton Co. HAL, +0.42% said late Friday it has suspended future business in Russia as it complies with sanctions following the invasion of Ukraine. “Halliburton will prioritize safety and reliability as we wind down our remaining operations in Russia,” the oilfield services company said in a statement. The company halted all shipments of certain parts […]
Oil futures settled higher on Friday, but the U.S. oil benchmark still suffered a loss of more than 4% for the week. “This week’s volatility dances around the confusion on what to make of the Russian oil exports,” said Manish Raj, chief financial officer at Velandera Energy Partners, who noted that all eyes are on […]
Alliance Global Partners analyst Aaron Grey said he’s tracked 11 U.S. states considering adult use cannabis sales, despite a lack of progress on the federal level. “While questions around the prospects for federal cannabis reform remain, state by state momentum continues,” Grey said in a research note. Connecticut, New York, Virginia and New Jersey are […]
Healthcare technology company Owens & Minor Inc. OMI, +1.38% said Friday it has launched a private offering of $500 million of 8-year high-yield bonds. Proceeds will be used to fund the acquisition of Apria Inc. with any remaining money to be used for general corporate purposes. Owens & Minor announced it would acquire Apria in […]
Existing-home sales decreased 7.2% between January and February, falling to a seasonally-adjusted, annual rate of 6.02 million, the National Association of Realtors said Friday. Compared to a year ago, sales were down more than 2%. Economists polled by MarketWatch had projected existing-home sales to come in at 6.13 million. Source: Marketwatch
On Holding AG ONON, +3.82% shares jumped 7.6% in Friday premarket trading after it reported fourth-quarter sales that beat expectations and gave upbeat sales guidance. The running shoe company, which is backed by tennis star Roger Federer, posted a net loss of CHf187.0 million (US$199.9 million), or CHF 0.60 per share, after a loss of […]
Published: March 17, 2022 at 3:14 p.m. ET White House press secretary Jen Psaki on Thursday described President Joe Biden’s upcoming call on Friday with Chinese President Xi Jinping as “an opportunity for President Biden to assess where President Xi stands” on Russia’s invasion of Ukraine. “The fact that China has not denounced what Russia […]
The House of Representatives on Thursday passed a bill that would strip Russia of normal trade relations with the U.S., in a move that paves the way for higher tariffs on Russian goods. The bill now goes to the Senate. President Joe Biden has backed efforts to change Russia’s trade status as one way to […]