Category: Market News
Shares of Carnival Corp. CCL, -5.99% tumbled 11.2% in morning trading Thursday, to pace the S&P 500’s SPX, -0.93% after the cruise operator caused investors to “panic” with its $1 billion public equity offering. The company said late Wednesday that the offering, which represented about about 10% of the current market capitalization of $9.79 billion, […]
Gold futures ended higher on Thursday, recouping their loss from a day earlier and then some — when prices settled at their lowest in more than 15 months. The U.S. dollar saw some weakness as the euro climbed in the wake of the European Central Bank’s decision to lift its key interest rate, and U.S. […]
The seasonally adjusted S&P Global Eurozone PMI composite output index dropped to 49.4 in July from 52.0 in June, according to a S&P Global/Markit survey on Friday. Dropping below the neutral 50.0 level signals a contraction of business output for the first time since February 2021. Steepest declines were seen in Germany, where the composite […]
U.S. COVID cases and hospitalizations are rising again to the highest seen this summer so far, as the BA.5 omicron subvariant becomes dominant. BA.5 is understood to be the most transmissible variant seen so far and to have an ability to break through vaccination and cause reinfection. BA.5 accounted for more than 53% of global […]
Shares of GameStop Corp. GME, -6.74% rallied 1.9% in premarket trading Friday, which implies a price of just above $39 as the videogame retailer and “meme” stock has started trading on a split-adjusted basis. The split was first announced in March, and the 4-for-1 ratio for the split was announced on July 6. Just ahead […]
Shares of HCA Healthcare Inc. HCA, +11.43% gained 0.6% in premarket trading Friday, after the hospital and ambulatory sites operator reported second-quarter profit that fell from a year ago, amid labor market and inflation challenges, but beat expectations. Net income declined to $1.16 billion, or $3.90 a share, from $1.45 billion, or $4.36 a share, […]
Schlumberger Ltd. shares SLB, +4.28% jumped 2.7% in premarket trade Friday, after the French oil major posted stronger-than-expected earnings for the second quarter amid high oil prices and raised its full-year guidance. The Paris-based company posted net income of $959 million, or 67 cents a share, for the quarter, up from $510 million, or 36 […]
Jefferies analyst Benjie Creelan-Sandford said Friday the confirmation from Banco Santander S.A. SAN, -1.21% that it won’t continue bidding for Citigroup Inc.’s C, -1.29% Banamex unit in Mexico should ease capital concerns. He reiterated a buy rating on the stock and said Santander’s decision may “allow part of the company’s greater-than 15% implied discount to […]
Shares of internet companies suffered collateral damage Friday from Snap Inc.’s SNAP, -39.08% bombshell earnings report that led to a 30+% plunge in Snap’s stock. Shares of Alphabet Inc. GOOGL, -5.63% GOOG, -5.81% sank 2.9%, Facebook parent Meta Platforms Inc. META, -7.59% dropped 4.4% and Pinterest Inc. PINS, -13.51% shed 7.0%. Twitter Inc.’s stock TWTR, […]
Scotts Miracle-Gro Co. SMG, -3.43% fell 0.7% on Friday after UBS downgraded the lawn care and cannabis growing equipment company to neutral from hold and cut its price target to $92 a share from $125 a share. “We believe limited top/bottom line recovery coupled with a levered balance sheet…will keep shares range bound until the […]