Category: Market News
The U.S.-listed shares of XPeng Inc. XPEV, -4.60% surged 2.1% in premarket trading Friday, after the China-based electric vehicle maker reported big jumps in June deliveries from a month ago and from last year. The company also said it expect to begin accepting pre-orders for its G9 sports utility vehicle in August, ahead of an […]
Private cannabis company Tyson 2.0 said Thursday it closed an oversubscribed, $9 million round of Series A financing led by JW Asset Management, with investments from K2, Ambria Capital, Tress Capital, and Patrick Carroll. The investment round for the cannabis company named after widely known boxing champ Mike Tyson comes after its launch last year. […]
Kohl’s Corp. KSS, -19.64% announced Friday that takeover talks with Franchise Group have ended without a deal. Franchise Group FRG, -7.47% was the top bidder at $60 per share after Kohl’s engaged with 25 companies. “Despite a concerted effort on both sides, the current financing and retail environment created significant obstacles to reaching an acceptable […]
Shares of Tesla Inc. TSLA, +1.24% bounced into positive territory in premarket trading Friday, going from an earlier loss of as much as 1.7% to a gain of 0.5%, after China-based electric vehicle makers reported strong June deliveries data. China is an important market for Tesla, as the EV giant generated 24.8% of its revenue […]
JPMorgan Chase & Co. analysts on Friday downgraded three regional bank stocks and said they’re moving their outlook for the sector to neutral based on rising expectations of a recession as well as more aggressive interest rate hikes from the U.S. Federal Reserve. JPMorgan cut its ratings on Live Oak Bancshares Inc. LOB, +1.24% and […]
Shares of Alcoa Corp. AA, -1.76% slumped 3.5% toward a seven-month low in afternoon trading Friday, after the aluminum producer said it will immediately start curtailing one of three smelting lines that are operating at its Warrick Operations facility in Indiana, citing “operational challenges.” The company said the one line, which has an annual capacity […]
President Biden called on Americans to vote in November to expand Democrats majority in the Senate by 2, so that his party has the votes to reform the filibuster in order to pass a law that guarantees American women the right to an abortion in all 50 states. “Congress is going to have to act […]
Gold futures pared much of their losses by Friday’s settlement, after a dip below the key $1,800-an-ounce mark, while worries that a recession would hurt demand for industrial metals pulled silver prices to their lowest in about two years. Gold moved up from the session lows after the 10-year Treasury yield extended declines following a […]
Shares of New York City REIT Inc. NYC, -2.67% slid 1.7% in afternoon trading Friday, after the real estate investment trust that owns a portfolio of commercial real estate in New York, said it was “temporarily suspending” its dividend to help fund upfront costs of leasing commitments and tenant improvements. The REIT last paid a […]
Oil futures climbed on Friday, with U.S. prices up about 0.8% for the week. “Low investment in oil discovery and the shutdown of refineries during the pandemic-induced recession of 2020 have led to a supply crunch,” said Lukman Otunuga, manager, market analysis, at FXTM. “The geopolitical developments concerning Ukraine-Russia poured fuel to the fire,” he […]