Category: Market News
Shares of Eli Lilly & Co. LLY, +3.54% were down 0.9% in premarket trading on Friday after the company said it decided to scrap further development of Olumiant as a possible lupus treatment, based on results from two Phase 3 clinical trials, one of which failed. The drug, which was developed with Incyte Corp. INCY, […]
Baker Hughes BKR, -0.51% on Friday reported that the number of active U.S. rigs drilling for oil was up by four to 495 this week. That followed a fall of just one oil rig the week before, Baker Hughes data show. The total active U.S. rig count, which includes those drilling for natural gas, climbed […]
Consolidated Edison Inc. ED, +2.26% subsidiary Con Edison is proposing higher rates in 2023, that would boost overall customer electric bills by 11.2% and gas bills by 18.2%, as the New York-based utility looks to fund clean energy investments. Consolidated Edison’s stock rallied 1.5% in afternoon trading. Con ED’s proposal comes as it is seeking […]
Shares of QVC parent Qurate Retail Inc. QRTEA, -14.55% sank 18.4% in Friday trading after the company gave a preliminary look at fourth-quarter revenue results that show an 8% to 9% decline, in constant currency. Revenue for QxH, which represent the QVC U.S. and HSN businesses, are expected to be down 6.5% to 7.5%, also […]
Gold prices fell on Friday, pressured by overall strength in the U.S. dollar after the Federal Reserve this week indicated that it may hike interest rates as soon as March. The loss contributed to 2.5% decline for the week, based on the most-active contracts. That was the worst weekly percentage decline since the period ending […]
Boot Barn Holdings Inc. BOOT, -9.72% stock sank 9.4% in Friday trading as at least two analyst groups cut their price targets and concerns rise about the road ahead for the Western-style retailer. Late Thursday, Boot Barn reported fiscal third-quarter net income totaling $69.2 million, or $2.27 per share, up from $29.6 million, or $1.00 […]
Oil futures rose on Friday, with U.S. prices posting a sixth-consecutive weekly rise as the Russia-Ukraine crisis continued to put already tight global oil supplies at risk. Oil prices, however, settled below the day’s best levels. With the Organization of the Petroleum Exporting Countries and their allies, together known as OPEC+, due to meet next […]
A big comeback Friday for stocks left the S&P 500 index SPX, +2.43%, Dow Jones Industrial Average DJIA, +1.65% and Nasdaq Composite Index COMP, +3.13% with sizable gains on the session and enough upward momentum to leave all three key U.S. stock benchmarks in the green in a week of extreme volatility on Wall Street. […]
The House committee investigating the January 6 attack on the U.S. Capitol has issued subpoenas to 14 individuals who were purported “alternate electors” for former President Donald Trump. “The Select Committee is seeking information about attempts in multiple states to overturn the results of the 2020 election, including the planning and coordination of efforts to […]
Investors could be in for seven 25-basis-point interest rate hikes this year, or one at each remaining Federal Reserve meeting, considering the central bank “has all but admitted that it is seriously behind the curve,” according to a note by BofA Global Research. In the note released Friday, economist Ethan Harris and others made a […]
