Category: Market News
The U.S. is forecast to have added 440,000 new jobs in February, according to economists polled by the Wall Street Journal. The unemployment rate is expected to dip to 3.9% from 4%. The report will be released at 8:30 a.m. Eastern by the Bureau of Labor Statistics. The Dow Jones Industrial Average DJIA, -0.24% and […]
DXC Technology Co. DXC, -4.28% said Friday that it will no longer pursue business in Russia and has committed to leaving that market, given Russian military aggression against Ukraine. The Virginia-based technology consulting and outsourcing services company said it has about 4,000 employees in Russia, and will continue to provide support for those employees. The […]
Perfect Corp. said Thursday it agreed to go public in a deal with special purpose acquisition company (SPAC) Provident Acquisition Corp. PAQC, +0.10% that values the Taiwan-based beauty software specialist at $1.02 billion. The deal includes a $50 million private investment in public equity (PIPE) deal with Chanel, Cyberlink, Shiseido and Snap Inc. SNAP, -7.21%. […]
EPAM Systems Inc. EPAM, -6.79% said Friday it will no longer service its customers based in Russia, in response to Russia’s invasion of Ukraine. The provider of digital transformation services said it will provide “transition support” for its customers in Russia, and is “actively evaluating” its other operations in the region. EPAM also announced $100 […]
The U.S. Dollar Index soared to its highest level in almost two years on Friday as the deepening Russia-Ukraine conflict led investors to continue flocking to safe havens, such as the greenback. The dollar index DXY, +0.74% rose 1% to 98.80, the highest level since May 2020. Meanwhile, the euro fell 1.4% to its lowest […]
Ozon Holdings PLC OZON, -8.16%, one of Russia’s largest internet companies in Russia, said the halting of its stock by the Nasdaq could lead to a “Delisting Event” under terms of its $750 million, 1.875%, senior unsecured convertible bonds due 2026. Ozon’s American depositary shares has been halted by Nasdaq since Feb. 28. A “Delisting […]
Echelon Capital Markets analyst Andrew Semple on Friday initiated coverage of Norwood, Mass.-based multi-state cannabis operator MariMed Inc. MRMD, +2.68%, which trades on the OTC. Semple rated the stock a speculative buy and set a 12-month target price of $1.50 a share for MariMed, which has grown cannabis revenue by more than seven times in […]
A new study found that baricitinib, a rheumatoid arthritis drug developed by Eli Lilly & Co. LLY, +1.64% and Incyte Corp. INCY, +0.85%, reduced the risk of death among patients who have been hospitalized with severe COVID-19. The new research, which was published Thursday in preprint form, meaning it’s not peer-reviewed, came from the U.K.’s […]
High-grade copper surged to a record on Friday, as commodity prices soared amid intensifying concerns about the market implications of an invasion of Ukraine by Russia and a series of sanctions leveled against the Kremlin in response to its unprovoked attack. May copper HGH22, +2.77% HG00, +2.87% was trading 2.4% higher to around $4.901 a […]
Shares of Marathon Oil Corp. MRO, +4.02% powered up 2.4% in afternoon trading Friday toward a 3 1/2-year high, as the oil and gas exploration and production company benefited from the spike up in oil prices to a 14-year high, and as the company’s credit rating was put in position to be lifted out of […]