Tag: brokerswatch

The U.S. dollar is on track Friday for its biggest weekly advance since March 2020 as the Federal Reserve’s third jumbo interest-rate hike and Chair Jerome Powell’s hawkish outlook helped send real yields sharply higher. The ICE U.S. Dollar Index DXY, +1.50%, a gauge of the dollar’s strength against a basket of its rivals, has […]

The Dow Jones Industrial Average’s DJIA, -1.89% 767-point tumble in afternoon trading Friday, to break down below the June 17 closing low (29,888.78), not only showed that the bear market was alive and kicking, it also triggered a sell signal based on the century-old Dow Theory of market analysis. The Dow’s fresh low, coupled with […]

Oil futures declined Friday, with U.S. prices dropping below $80 a barrel to settle at their lowest since January. “Economic turmoil is putting oil on track for its first quarterly loss in two years as the market focuses on the potential coming recession inspired by aggressive Federal Reserve policy, and is not focused currently on […]

Shares of Coinbase Global Inc. COIN, -1.89% slumped 4.2% toward a two-month low in afternoon trading Friday, after both an equity analyst and credit analyst trimmed their outlooks on the cryptocurrency wallet provider, with both analysts citing downbeat outlooks for the cryptocurrency market. J.P. Morgan analyst Kenneth Worthington reiterated his neutral rating on the stock […]

Baker Hughes BKR, -6.38% on Friday reported that the number of active U.S. rigs drilling for oil rose by three to 602 this week. That followed an increase of eight the week before. The total active U.S. rig count, which includes those drilling for natural gas, climbed by one to 764, according to Baker Hughes. […]

Shares of FuboTV Inc. FUBO, +6.51% rallied 1.8% in premarket trading Friday, after Wedbush analyst Michael Pachter recommended investors buy, saying the recent pullback provided a “compelling entry point.” Pachter raised his rating to outperform, after downgrading it to neutral a month ago, but kept his price target at $6, which implied 53.1% upside from […]

Shares of oil and gas companies were taking a broad beating ahead of Friday’s open, as growing concerns of a coming recession has sent crude oil futures CL00, -4.87% sinking toward an eight-month low. The SPDR Energy Select Sector ETF XLE, -5.32% slumped 3.2% in premarket trading, with all 21 components selling off, as crude […]

Novartis AG NOVN, -0.81% on Thursday told investors that the Swiss drug maker plans to adopt a “U.S.-first mindset” in its bid to become a “top-five player” in the U.S. market by 2027. Novartis is one of the world’s largest pharmaceutical companies; however in the U.S., it was the tenth largest by revenue in the […]

NextEra Energy Inc.’s NEE, -1.70% Florida Power & Light unit said it plans to refund about $400 million in federal tax savings to its 5.8 million customers. The savings stem from a federal production tax credit (PTC) for the development of the company’s current stable of 50 operational solar power sites. FPL said it will […]

Shares of Spectrum Pharmaceuticals Inc. SPPI, -26.13% were down 22.0% in premarket trading on Friday, the day after a Food and Drug Administration committee voted 9-4 that the benefits of the company’s experimental lung-cancer drug do not outweigh the risks. The FDA is not required to follow the committee’s advice when deciding when to approve […]