Category: Market News
Wedbush analyst Jay McCanless downgraded Zillow Group Inc.’s stock ZG, -1.99% Z, -1.59% to neutral from outperform Friday, in the wake of the real-estate company’s latest earnings report that brought a lower third-quarter outlook than expected and showed the pains the company is experiencing from its exit of the iBuying business. “While we are favorable […]
Shares of used-card retailer Carvana Co. CVNA, +40.07% were up more than 38% in Friday morning trading after flirting with what could be their best single-day percentage gain on record. Carvana’s stock was up 38.7% Friday morning and on track for its largest one-day gain since March 24, 2020, when it rose 43.0%. However, shares […]
Shares of AMTD Digital Inc. HKD, -9.85% slipped 1.2% in seesaw morning trading Friday, adding to the 52.4% pullback over the past two days. The Hong Kong-based digital business developer’s stock has whipped around since the opening bell, from an intraday gain of as much as 15.0%, to a decline of as much as 4.1%, […]
Stocks ended mostly lower Friday but off session lows as investors assessed how the Federal Reserve will respond to data that showed the U.S. economy added 528,000 jobs in July, far exceeding the 258,000 expected by economists. Fed-funds futures traders penciled in a nearly 70% probability of a 75 basis point rate hike when policy […]
Shares of Global Blood Therapeutics Inc. GBT, +36.89% jumped 9.5% in trading on Friday after The Wall Street Journal reported that Pfizer Inc. PFE, -1.34% is considering buying the company for about $5 billion. There were media reports earlier this week that Global Blood Therapeutics, which markets a sickle-cell treatment, is attracting takeover interest. The […]
Shares of Applied DNA Sciences Inc. APDN, +13.98% jumped another 15.2% in morning trading Friday, to snap back from an earlier intraday loss of as much as 8.7%. The biotechnology company’s stock has now skyrocketed 873.5% amid a four-day win streak, which kicked off with a 311.2% gain on Tuesday after the company said it […]
Canopy Growth Corp. CGC, -7.09% WEED, -4.34% shares fell 6% in premarket trades Friday after the company said it lost C$2.08 billion ($1.61 billion), or $5.23 a share in its fiscal first quarter, compared to a profit of C$392.42 million, or C$1.02 a share, in the year-ago period. The loss was driven by a non-cash, […]
Shares of Goodyear Tire & Rubber Co. GT, -1.18% jumped 4.9% toward a two-month high in premarket trading Friday, after the tire maker reported second-quarter profit and sales that rose above expectations. The upbeat results were a welcome relief to investors, as the stock tumbled 9.5% the day first-quarter results were reported, and 27.4% after […]
Shares of Carvana Co. CVNA, -3.90% were rocketing 11% in after-hours trading Thursday, though the used-car retailer missed expectations with its second-quarter revenue and logged a larger loss than analysts were anticipating. Carvana recorded a net loss of $238 million, or $2.35 a share, whereas it posted net income of $22 million, or 26 cents […]
Virgin Galactic Holdings Inc. SPCE, -0.73% delayed its initial launch of tourists into space for the third time in less than a year Thursday, sending shares back toward earth. In a quarterly earnings report, executives said the beginning of its commercial space-tourism business will begin in the second quarter of 2023, after it was pushed […]
