Category: Market News
Gold prices end higher Tuesday, climbing for a fifth straight day, after U.S. House Speaker Nancy Pelosi landed in Taiwan, sparking vows of retaliation from Beijing. December gold GCZ22, -0.26% GC00, -0.26% rose 0.1% to settle at $1,789.70 an ounce, with the most-active contract ending higher in the past five sessions. Investors also continued to […]
It’s an island off the coast of China, with a land area comparable to Maryland and Delaware combined. Its population is about 1 million higher than that of Florida. Often overlooked in world headlines, Taiwan is grabbing the financial market’s attention as the biggest macro risk of the day, prompting many traders and investors to […]
Shares of Eliem Therapeutics Inc. ELYM, -12.58% tumbled 20.0% in premarket trading on Tuesday after the company said it will discontinue development of its treatment for lumbosacral radicular pain after a Phase 2a clinical trial didn’t yield strong enough results. Eliem said it has enough capital to fund the development of other therapies and its […]
KKR & Co. Inc. KKR, +0.13% shares dropped 4.3% on Tuesday after the private equity firm said it swung to a second-quarter loss of $827.93 million, or $1.22 from net income of $1.28 billion, or $2.05 a share, in the year-ago quarter. Revenue fell to $330.04 million from $3.14 billion. KKR said it lost $1.68 […]
Colgate-Palmolive Co. CL, +3.00% has announced plans to purchase three dry pet food manufacturing plants from Red Collar Pet Foods for $700 million. The acquisition will support the growth of Colgate-Palmolive’s Hill’s Pet Nutrition business, according to a statement released before market open on Monday. The plants, which are in Orangeburg, South Carolina; Clinton, Oklahoma; […]
Shares of Opendoor Technologies Inc. OPEN, -2.44% fell 2.7% in afternoon trading Monday, after the U.S. Federal Trade Commission said subsidiary online home buying company Opendoor Labs Inc. will have to pay $62 million for deceiving potential home sellers. The FTC said it took the action because of its allegations that Opendoor “pitched potential sellers […]
Oracle Corp. ORCL, -0.51% has begun layoffs, according to multiple reports Monday. Job cuts affecting employees in the Bay Area have started, according to The Information, which also reported last month that the tech giant is planning to slash thousands of jobs as it seeks to shave $1 billion in costs. Some employees in the […]
The Treasury Department on Monday said it expects to borrow $444 billion in privately-held net marketable debt during the July-September 2022 quarter, assuming an end-of-September cash balance of $650 billion. The borrowing estimate is $262 billion higher than announced in May 2022, primarily due to changes to projections of fiscal activity and the estimated impact […]
Shares of Avis Budget Group Inc. CAR, -0.52% were up more than 4% in after-hours trading Monday after the company easily topped profit expectations for its latest quarter. The rental-car company posted net income of $774 million, or $15.71 a share, compared with $398 million, or $5.63 a share, in the year-earlier period. On an […]
President Joe Biden plans to give a speech on Monday evening about “a successful counterterrorism operation,” according to a White House statement. The remarks are slated to come at 7:30 p.m. Eastern Time. A senior Biden administration official said the U.S. conducted a counterterrorism operation against a “significant” Al Qaeda target in Afghanistan over the […]