Category: Market News
A key deal maker behind Facebook’s acquisitions of Instagram, WhatsApp and Oculus is leaving the company after more than a decade. “After almost 12 incredibly fulfilling years at Meta/Facebook, I have decided to leave the company,” Amin Zoufonoun said in a Facebook post. The departure comes amid a tech M&A crackdown by U.S. and European […]
Alcoa Corp.’s stock AA, -5.26% slid 7% in after-hours trading Wednesday after the bauxite, alumina and aluminum products company reported a third-quarter loss of $746 million, after reporting a $337 million profit in the same period a year earlier. Alcoa recorded a net loss of $4.17 per share. Losses, adjusted for non-recurring costs, came to […]
Oil futures climbed on Wednesday, with U.S. prices up by more than 3%. The oil market rebounded as the “tug-of-war between concerns over supply and fears over demand continue the back-and-forth” price action that has been a feature of the past few weeks, said Michael Hewson, chief market analyst at CMC Markets UK. The market […]
This replaces an earlier item that reported incorrect year-to-date share gains for Piedmont Lithium and Livent. It has been corrected. Shares of Piedmont Lithium Inc. PLL, +9.72% charged up 11.5% in midday trading Wednesday, after the lithium producer announced a $141.7 million grant from the U.S. Department of Energy. The company said the grant is […]
Intuitive Surgical Inc. ISRG, +10.96% shares rallied Wednesday after the surgical robotics company’s quarterly results topped Wall Street estimates. Intuitive Surgical shares rose more than 12% to an intraday high of $220.98 Wednesday Late Tuesday, the company reported third-quarter net income of $324 million, or 90 cents a share, compared with $380.5 million, or $1.04 […]
Shares of Zymeworks Inc. ZYME, +9.00% gained 8.4% in premarket trading on Wednesday after the company announced a licensing deal with Jazz Pharmaceuticals plc JAZZ, -1.95% for its cancer drug, zanidatamab, which is currently being tested as a treatment for some HER2-expressing cancers. Jazz will pay Zymeworks $50 million upfront. Including all regulatory and commercial […]
U.S. stocks ended higher Tuesday, booking back-to-back gains, as investors digested earnings results from companies including Goldman Sachs Group Inc. The Dow Jones Industrial Average DJIA, +1.12% closed 1.1% higher, while the S&P 500 SPX, +1.14% gained around 1.2% and the Nasdaq Composite rose 0.9%, according to preliminary data from FactSet. Goldman GS, +2.33% was […]
Carvana Co. shares CVNA, +0.99% have lost more than 90% of their value this year, but one analyst isn’t betting on a rally from here. Wedbush analyst Seth Basham downgraded Carvana’s stock to neutral from outperform Tuesday, writing that “a further deterioration in market conditions, a bloated cost structure, and high cash burn” make it […]
United Parcel Service Inc.’s UPS, +1.00% aircraft maintenance and related workers’ union approved on Tuesday a three-year deal that boosts wages for 1,675 Teamsters members and raises pension contributions by the package delivery giant. The deal was approved by more than 87% of union members who voted. Under terms of the deal, annual wages will […]
U.S. stocks rose sharply at the open on Tuesday, looking to add to their gains from Monday’s session, which saw the Nasdaq Composite log its biggest percentage-point gain since July. Investors attributed the strong appetite for risk to more strong corporate earnings reports. The S&P 500 SPX advanced 81 points, or 2.2%, to 3,759. The […]
