Tag: brokerswatch

Pfizer Inc. PFE, -1.90% said Thursday it has reached an agreement to supply up to six million treatment courses of its COVID antiviral Paxlovid to the Global Fund for low and middle-income countries. The company said it expects supply to be available starting in 2022, pending regulatory authorization or approval and based on demand from […]

The global tally of COVID cases held steady in the week through Sept. 18 compared with the previous week, while the number of fatalities fell 17%, the World Health Organization said in its weekly epidemiological update. Some 99% of cases sequenced were of the omicron variant, with BA.5 now accounting for 76.6% of cases, followed […]

Steelcase Inc. SCS, -1.28% on Wednesday said it planned to cut up to 180 salaried positions in the third quarter, citing a “recent volume decline in our incoming orders and lower-than-expected return-to-office trends in the Americas.” The maker of furniture and other supplies for offices, hospitals and classrooms said the move, intended to cut expenses, […]

BofA Securities revised its outlook for the fed-funds rate target and now sees it reaching 4.75% to 5% by March, economist Michael Gapen wrote in a note. That’s up from a previous forecast of 4% to 4.25%. The revision was made in response to Wednesday’s release of projections, showing the median participant on the Federal […]

Stocks took a sharp turn lower to end a choppy session Wednesday, sinking after the Federal Reserve delivered a widely expected 75 basis point rate hike but also lifted its forecast for a peak in rates above market expectations. Stocks gave up initial gains following the Fed decision, then flipped between gains and losses during […]

Faraday Future Intelligent Electric Inc. FFIE, -5.06% said Wednesday its planned flagship electric SUV, the FF 91, got a rating of 381 miles of range from the EPA. The rating is a “significant increase” from the company’s previous estimates, Faraday said. Completing the certification was “a huge step in getting this car in the hands […]

Oil futures declined on Wednesday, with U.S. benchmark prices settling down by more than 1%. The Federal Reserve said Wednesday that it would raise its benchmark federal-funds rate by 0.75 percentage point, and said rates are going to move sharply higher before the end of the year. “Higher rates are restrictive in nature, and likely […]

Gold futures settled higher on Wednesday, then moved lower in electronic trading following the Federal Reserve’s decision to raise the fed funds rate by 75 basis points to the 3% to 3.25% range. The central bank also penciled in another 125 basis points in rate hikes by year-end. The U.S. dollar strengthened and Treasury yields […]

U.S. stocks gave up gains to turn lower Wednesday afternoon after the Federal Reserve, as expected, raised its fed funds rate by 75 basis points, while also signaling that rates would remain higher for longer as the central bank attempts to get a grip on persistent inflation. The Fed’s so-called dot plot showed an expectation […]

The policy-sensitive 2-year Treasury rate edged above 4% ahead of the Federal Reserve’s policy update at 2 p.m. Eastern time, and is poised to end the New York session at another 15-year high. The last time the U.S. 2-year Treasury yield TMUBMUSD02Y, 3.980% closed at 4% or higher was on Oct. 16, 2007. Meanwhile, the […]