Category: Stock Market

Oct 10
Rivian stock sinks toward 3-month low in wake of vehicle recall for safety issue

Shares of Rivian Automotive Inc. RIVN, -8.65% sank 8.8% toward a three-month low in premarket trading, in the wake of the electric vehicle maker’s large vehicle recall due to steering problems. The company said late Friday that it intends to recall about 13,000 vehicles, which The Wall Street Journal reported was to repair improperly installed […]

Oct 10
FedEx rival Deutsche Post says it will lift earnings guidance

FedEx FDX, +0.96% rival Deutsche Post DPW, +5.79% on Monday said it will have to lift its earnings guidance for the full year, after preliminary results show its nine-month earnings before interest and tax of around 6.5 billion euros ($6.3 billion). Deutsche Post said it will lift its fiscal year EBIT forecast, of 8 billion […]

Oct 10
Armarak targeting 44% of college food to be plant-based

Aramark ARMK, +0.59% said Monday it plans to have a 44% plant-based food on its residential dining menus at 250 colleges and universities by 2025. Currently, about 26% to 30% of Aramark’s menu offerings on college campuses are plant-based. The food service giant said the move comes as part of its 15-year collaboration with the […]

Oct 10
Penn Entertainment to relocate riverboat casinos in Illinois to land-based facilities, open new hotels

Penn Entertainment Inc. PENN, -2.56% said Monday it’s planning to relocate riverboat casinos in Aurora and Joliet, Illinois, to land-based facilities and to build a new hotel at Hollywood Columbus in Ohio, and a second hotel tower at the M Resort in Henderson, Nevada. Chief Executive Jay Snowden said he expects the properties to generate […]

Oct 10
Churchill raises $12 bln amid demand for private senior debt

Churchill Asset Management LLC said Monday it drew in more than $12 billion in third-party commitments for its private capital senior lending programs. The fresh capital includes Churchill’s flagship levered and unlevered senior loan funds, publicly-registered vehicles and separately managed accounts, with money from about 150 institutional and high net worth investors globally. Churchill CEO […]

Oct 10
Toast stock rallies after Mizuho says buy, as survey shows ‘delicious path to profitability’

Shares of Toast Inc. TOST, -6.24% rose 1.2% in premarket trading Monday, after the provider of consumer payment systems for restaurants was upgraded at Mizuho, with analyst Dan Dolev saying a restaurant survey showed a “delicious path to profitability.” Dolev raised his rating to buy from neutral and lifted his stock price target to $24 […]

Oct 10
SPAC Turmeric Acquisition to redeem its public shares after failing to find a business to acquire in time

Turmeric Acquisition Corp. TMPM, +0.10% said Monday it will redeem its public shares, after the special purpose acquisition corporation, or SPAC, failed to find a business target in time. The blank-check company said shares would cease trading as of the start of trade Oct. 20 and will be deemed canceled at the close of trade […]

Oct 10
Coronavirus tally: Boston officials concerned about elevated levels of COVID in city’s wastewater

Boston health officials said Friday they’re concerned about elevated levels of the coronavirus in the city’s wastewater, the Associated Press reported. The concentration of the virus in local wastewater has increased by 3.1% over the past week and by nearly 100% over the past two weeks, according to new data from this week from the […]

Oct 10
New Oriental Education stock drops after being named as identified issuer under the HFCAA

The U.S.-listed shares of New Oriental Education & Technology Group Inc. EDU, -2.49% dropped 4.2% in premarket trading Monday, after the China-based provider of private educational services said it was provisionally named by the U.S. Securities and Exchange Commission (SEC) as an identified issuer under the Holding Foreign Companies Accountable Act (HFCAA). The identification means […]

Oct 10
U.K. to bring forward budget review to Oct. 31

The U.K. Treasury announced Monday it was bringing forward the publication of an independent review into its budget plans to the end of October. It marks the second time the U.K. government brought their plans forward, after initially saying the plan would come next year, and then saying it would come in November. “Upon my […]