Category: Market News
Shares of Huntsman Corp. HUM, +1.67% slumped 3.1% toward a 13-month low in morning trading Tuesday, after J.P. Morgan turned bearish on the chemical products company, citing concerns over slowing demand. Analyst Jeffrey Zekauskas cut his rating to underweight, after being at neutral for at least the past 2 1/2 years, and dropped his stock […]
Shares of Nordstrom Inc. JWN, +3.92% slipped 0.3% in premarket trading Tuesday, after the higher-end department store chain said it adopted a shareholder rights plan, also known as a “poison pill,” that is effective immediately and lasts for one year. Nordstrom said the rights plan, which becomes exercisable if a person or entity acquires 10% […]
Chamath Palihapitiya, backer of the Social Capital Hedosophia Holdings Corp. special-purpose acquisition corporations, or SPACs, said Tuesday he is winding down the two vehicles numbered IV IPOD, +0.20% and VI IPOF, +0.10% after failing to find a target company to acquire within the given time frame. In a regulatory filing, Palihapitiya, known as the ‘SPAC […]
Shares of BAVA, +5.33% jumped 11% as the drugmaker said it signed a contract amendment with Public Health Canada that’s valued at up to $434 million over ten years. Under the new contract amendment, the majority of the confirmed order for Imvamune will be delivered in 2023, Bavarian Nordic said. Imavune, known as Jynneos in […]
A Food and Drug Administration advisory committee is set to meet this week to discuss three cancer therapies. The Oncologic Drugs Advisory Committee is set to meet Wednesday to vote whether the benefits of Spectrum Pharmaceuticals Inc.’s SPPI, -1.85% treatment of patients with certain types of non-small cell lung cancer outweigh the risks. The same […]
After leaked footage said to be from a forthcoming “Grand Theft Auto” game appeared online over the weekend, Take-Two Interactive Software Inc. TTWO, -1.41% said in a filing with the Securities and Exchange Commission Monday morning that the actions were a result of an intrusion into its network. Rockstar Games, the “Grand Theft Auto” publisher […]
Shares of Purple Innovation Inc. PRPL, -3.13% rocketed 32.6% in premarket trading Monday, after the mattress and bedding seller confirmed that it received an “unsolicited” buyout bid from hedge fund manager Coliseum Capital Management LLC. The company said Coliseum Capital was bidding $4.35 a share for the company, which represents a 55.9% premium to Friday’s […]
Tesla Inc. TSLA, -0.13% plans to “double sales each year,” a local executive told the Automobilwoche weekly in an interview that published Sunday, Reuters reported. The total gain would see sales climb to around 80,000 for this year, from sales of nearly 40,000 in 2021. A spokesperson from Tesla wasn’t immediately available for comment. Shares […]
U.S. oil futures gained just a penny on Friday after settling with a nearly 4% loss a day earlier. There’s a lot of uncertainty overseas both on the supply side and on the demand side, said Colin Cieszynski, chief market strategist at SIA Wealth management. For the U.S., however, the most significant fundamental factor is […]
Stonepeak said Friday it agreed to pay $2.4 billion for the Safety unit of Intrado Corp., a technology enabled services company backed by Apollo Global Management Inc. APO, -4.01%. The Safety unit specializes in 911 public emergency telecommunications services. Intrado will retain Workflows, which is part of its Life & Safety segment. Stonepeak senior managing […]
