Category: Market News
The White House said a tentative agreement has been reached to avert a shutdown on railways. “The tentative agreement reached tonight is an important win for our economy and the American people,” said a statement attributed to President Joe Biden, who said the critical rail system will keep working and avoid disruption of our economy. […]
U.S. stocks ended slightly higher Wednesday, bouncing from Tuesday’s selloff as investors parsed fresh data on wholesale prices. The Dow Jones Industrial Average DJIA, +0.10% edged up 0.1%, while the S&P 500 SPX, +0.34% gained 0.3% and the Nasdaq Composite COMP, +0.74% rose 0.7%, according to preliminary FactSet data. The producer price index showed that […]
Shares of AMTD Digital Inc. HKD, +325.96% blasted 241.4% higher in very volatile afternoon trading Wednesday, putting them on track to snap an eight-day losing streak, even as the Hong Kong-based didn’t release any news. The stock has been halted 11 times for volatility since Wednesday’s open, as trading volume swelled to about 892,800 shares, […]
Palo Alto Networks Inc.’s PANW, -0.45% three-for-one stock split went into effect Tuesday following the cybersecurity company’s announcement during its quarterly earnings report in late August. Shares opened at $183.75 Tuesday and were last down 1% from Monday’s split-adjusted close of $182.96, for a year-to-date of about 2% decline, compared with a 23% fall in […]
Twilio Inc. TWLO, +4.53% said Wednesday that its board of directors has approved a restructuring plan that will see the company cut about 11% of its staff. The company, which makes software for customer communications, expects to take a $70 million to $90 million charge related to the restructuring plan and reflective of costs around […]
Merchants such as Target Corp. [s] and Walmart Inc. WMT, -2.06% signed on to a letter asking Congress to pass a law that would require options for the routing of credit-card transactions over alternative networks, according to The Wall Street Journal. Sen. Dick Durbin, an Illinois Democrat, and Sen. Roger Marshall, a Kansas Republican, who […]
U.K.-based Ocado Group OCDO, -2.89% was cut to underperform from neutral, with its price target slashed 39% by Credit Suisse analysts on Wednesday. The online grocer and retail-technology specialist on Tuesday reported higher revenue in the third quarter of fiscal 2022, but forecast a sales drop due to inflationary pressures on consumers. A team of […]
Tuesday’s August consumer-price index report, which showed “very stubborn” pressure remaining in the gauge which excludes food and energy, “is a game changer in terms of Fed expectations,” Jefferies economists Aneta Markowska and Thomas Simons said in a note. They said a 4% terminal fed funds rate, the level at which the Fed is seen […]
Paramount Global PARA, -7.15% is mulling ending its Showtime streaming service, and folding its content into its Paramount+ service, according to a report in The Wall Street Journal. Citing people familiar with the situation, the WSJ report said the discussions surrounding the move, which would help streamline Paramount’s offerings, are still early. The report of […]
Paccar Inc. PCAR, -2.58% said Tuesday it will raise its quarterly dividend by 8.8%, 37 cents a share from 34 cents a share. The maker of trucks, under brands including Kenworth and Peterbilt, said the new dividend will be payable Dec. 6 to shareholders of business on Nov. 15. The stock fell 2.5% in afternoon […]
