Category: Market News
Estee Lauder Cos. EL, -1.94% has fired senior executive John Demsey, according to a report from The Wall Street Journal. Demsey was suspended last week after posting a racist Instagram meme on the social media site. Demsey has since apologized. Demsey had been with the company for 31 years and led beauty brands including Clinique […]
W. P. Carey Inc. WPC, +2.60%, a net lease real estate investment trust, said Monday it has agreed to merge with Corporate Property Associates 18 — Global Inc. in a deal valued at about $2.7 billion, including the assumption of debt. The deal is expected to close in the third quarter. Under the terms of […]
Russian companies with dollar-denominated listings in London plunged on Monday after the West moved to cut some Russian banks from the SWIFT messaging system. Sberbank SBER, -61.08% dropped 75%, and Lukoil LKOD, -52.41% fell 58%. Rosneft Oil ROSN, -42.56% dropped 41% as BP said it would exit its minority stake. Gazprom Neft GAZ, -23.95%, the […]
NewAge Inc. NBEV, +0.05% said Friday it has received notice from Nasdaq Stock Market LLC that it is not in compliance with the $1.00 closing bid listing requirement. The Utah-based health and wellness beverage and cannabis company has 180 days, until Aug. 23, to regain compliance or its stock will be delisted. The regain compliance, […]
The Centers for Disease Control and Prevention will announce plans to significantly loosen federal mask-wearing guidelines later Friday, the Associated Press reported, citing two people familiar with the plan. will announce a change to the metrics it uses to determine whether to recommend face coverings, shifting from looking at COVID-19 case counts to a more […]
Shares of Cinemark Holdings Inc. CNK, -0.17% shot up 3.7% in premarket trading Friday, after the movie theater operator swung to a surprise fourth-quarter profit, the first profit in eight quarters, as revenue rose nearly seven-fold to beat expectations by a wide margin. The company reported net income of $5.7 million, or 5 cents a […]
Shares of Under Armour Inc. UAA, +3.86% UA, +4.78% rallied 0.8% in premarket trading Friday, after the athletic apparel and accessories company said it has entered into a $300 million accelerated share repurchase (ASR) agreement. The ASR was entered into with JPMorgan Chase Bank, National Association, Bank of America N.A. and Citibank N.A. The ASR […]
Foot Locker Inc. shares FL, -29.80% slid 13% premarket Friday, after the athletic retailer offered weak guidance for 2022, offsetting a fourth-quarter earnings beat and news of a higher dividend. The company posted net income of $103 million, or $1.02 a share, for the quarter, down from $123 million, or $1.17 a share, in the […]
Cannabis company Akanda Corp. has postponed its initial public offering that had been planned for Friday, according to IPOScoop.com. The UK-based company founded last year by former Canopy Growth Corp. CGC, +0.14% executive Tej Virk had planned to raise $16 million by offering 4 million shares at $4 a share with Boustead Securities for trading […]
Zynga Inc. ZNGA, +4.20% said Friday the “go-shop” period under its previously announced merger agreement with videogame publisher Take-Two Interactive Software TTWO, +1.16% has been completed and said it still expects the deal to close in the first quarter of Take-Two’s fiscal 2023 ending June 30, 2022. “Zynga’s Board of Directors continues to believe that […]