Category: Market News
Abbott Laboratories ABT, -2.51% said late Thursday it is voluntarily recalling powder baby formulas, including its best-selling Similac, made in one plant in Michigan after it received four consumer complaints related to the bacteria Cronobacter sakazakii or Salmonella Newport in infants who had consumed powder infant formula made in the factory. “During testing in our […]
Shares of Shake Shack Inc. SHAK, -4.55% headed more than 6% lower in the extended session Thursday after the fast-casual restaurant reported a fourth-quarter loss that was greater than Wall Street expected and said the timing of a full recovery is still uncertain. Shake Shack said it lost $9.7 million, or 25 cents a share, […]
Gold futures climbed sharply on Thursday, topping the key $1,900 mark to settle at their highest since June of last year. “If Russia invades Ukraine, it will come with sanctions that will see the country all but locked out of the global financial system,” said Kyle Roda, market analyst at IG, in emailed commentary. “For […]
Shares of Novavax Inc. NVAX, +0.81% gained 1.8% in trading on Thursday after the company said its COVID-19 vaccine has been authorized by Health Canada. Canada has already ordered 52 million doses of Novavax’s vaccine, and the contract includes the option to order an additional 24 million doses. The protein-based vaccine, which requires two doses, […]
Goldman Sachs Group Inc. GS, -2.20% CEO David Solomon on Thursday said Solomon said 2022 will mark a shift from low interest rates and tame inflation to tighter borrowing conditions and above-trend inflation. In its first investor day since 2020, the financial services provider boosted its 2024 financial targets. The bank now expects to book […]
Bubble Wrap maker Sealed Air reported fourth-quarter net income totaling $180.9 million, or $1.20 per share, up from $142.2 million, or 91 cents per share, last year. Adjusted EPS of $1.12 missed the FactSet consensus for $1.13. Sales of $1.532 billion were up from $1.341 billion and ahead of the FactSet consensus for $1.489 billion. […]
The Energy Information Administration reported on Wednesday that U.S. crude inventories rose by 1.1 million barrels for the week ended Feb. 11. On average, analysts had forecast a decline of 200,000 barrels, according to a poll conducted by S&P Global Platts. The American Petroleum Institute on Tuesday reported a 1.1 million-barrel decrease, according to sources. […]
Alaska Air Group Inc. ALK, +0.67% announced the launch of Flight Pass on Wednesday, a subscription service that offers 6, 12 or 24 round-trip flights for a fixed price. Subscriptions start at $49 per month. Flight Pass Pro, which offers additional flexibility, starts at $199 per month. Travelers are responsible for additional taxes and fees. […]
Gold futures settled higher on Wednesday, rebounding from a loss in the previous session. At the start of the week, gold prices had settled at a roughly three-month high “as fears of a potential Russian invasion of Ukraine sparked demand for safe-haven assets,” said Rohan Reddy, analyst at Global X. “With perceived political risks increasing […]
Oil futures declined in electronic trading Wednesday afternoon, after settling higher for the session. Prices fell after Reuters reported that Iran’s top nuclear negotiator, Ali Bagheri Kani tweeted that after weeks of intensive talks “we are closer than ever to an agreement.” In the tweet, however, he stressed that “nothing is agreed until everything is […]