Category: Market News
This corrects the reference date for the strongest monthly percentage rise. Oil futures climbed Monday, with U.S. prices up over 17% for the month — the largest such rise since February 2021, according to Dow Jones Market Data. Traders remained focused on the potential threat to oil supplies from Russia, which on Monday said the […]
The pace of coming interest rate hikes will depend on the pace of inflation, said Richmond Fed President Tom Barkin on Monday. “I’d like us to be in a better position — somewhere closer to neutral certainly than we are now. And I think the pace of that just depends on inflation,” Barkin said, in […]
Shares of Cirrus Logic Inc. CRUS, +4.91% jumped more than 10% in the extended session Monday after the chip supplier reported fiscal third-quarter earnings and sales well above Wall Street expectations. Cirrus Logic said it earned $128 million, or $2.16 a share, in the quarter, compared with $114 million, or $1.91 a share, in the […]
Atlanta Fed President Raphael Bostic on Monday said he was not advocating for a 50-basis-point rate hike in March. Over the weekend, Bostic’s discussion of a half-point hike with the Financial Times garnered a lot of market attention. In an interview with Yahoo Finance, Bostic clarified that a half-point hike “is not my preferred setting […]
Congressman Ed Perlmutter, D., Colo., said Friday he has attached the Secure and Fair Enforcement (SAFE) Banking Act for cannabis companies to an existing bill called the America Competes Act. The America Competes Act addresses research and innovation efforts as a non-cannabis specific bill. “Cannabis-related businesses – big and small – are in desperate need […]
Raymond James analyst William J. Wallace IV on Monday downgraded shares of ConnectOne Bancorp CNOB, -3.35% to outperform from strong buy and trimmed his price estimate by $2 to $38 a share following the company’s fourth-quarter results. “Assuming net interest margin has likely peaked, it will become a headwind as the Fed starts rising rates […]
Congressman Ed Perlmutter, D., Colo., said Friday he has attached the Secure and Fair Enforcement (SAFE) Banking Act for cannabis companies to an existing bill called the America Competes Act. The America Competes Act addresses research and innovation efforts as a non-cannabis specific bill. “Cannabis-related businesses – big and small – are in desperate need […]
Canadian cannabis company Hexo Corp. HEXO, +3.68% said Monday it has received notification from the Nasdaq exchange that it is not in compliance with minimum bid price requirements, after the stock traded below $1 for 30 straight trading days. Hexo shares closed Friday at 50 cents. The company now has 180 calendar days to regain […]
Synchrony Financial SYF, -6.75% reported Friday fourth-quarter profit that matched expectations while net interest income rose above forecasts, boosted by by record purchase volume and loan growth across all sales platforms. The consumer financial services company’s stock was still inactive in premarket trading. Net income rose to $803 million, or $1.48 a share, from $728 […]
The world reached a vaccination milestone Friday of 10 billion doses administered globally, according to Our World in Data, but wealthier countries account for the vast majority of those, while poorer ones have been left behind. Only 9.8% of people in low-income countries have received a first dose, according to the data project, while wealthy […]
