Tag: brokerswatch

BorgWarner Inc. BWA, +2.06% announced Tuesday and equity transfer agreement to buy the electric vehicle (EV) charging business of China-based Hubei Surpass Sun Electric (SSE) in a deal valued at up to RMB410 million ($58.5 million). The deal includes RMB267 million to be delivered around the closing, which is expected to occur in the first […]

Amazon.com Inc. AMZN, +0.91% said Tuesday it has signed an agreement with Infinium to add low carbon electrofuels to its trucking fleet starting in 2023. The company Infinium will provide enough electrofuels — s fossil-based fuel alternative created with carbon waste and renewable power — to power about 5 million miles of travel a year. […]

Merck MRK, -1.23% said Tuesday it is launching a new Phase 3 trial of once-daily islatravir for the treatment of people with HIV-1 infection. “These new Phase 3 studies will evaluate a once-daily oral combination of doravirine 100 mg and a lower dose of islatravir (DOR/ISL),” the company said in a statement. Certain participants currently […]

Shares of Ouster Inc. OUST, -1.69% jumped 1.7% in premarket trading Tuesday, to bounce off the previous session’s record closing low, after the provider of lidar sensors for the automotive and robotics industries announced a plan to cut costs by 15%. As part of the plan, the company said it will reduce its workforce by […]

Oxford Industries Inc. OXM, +3.83% hiked its outlook late Monday following an announcement it closed on its acquisition of clothing brand Johnny Was. The company said inclusion of the $270 million acquisition and strong direct-to-consumer sales at its Tommy Bahama and Lilly Pulitzer brands boosted third-quarter expectations to adjusted earnings of $1.10 to $1.30 a […]

U.S. stocks finished higher on Monday after wavering between gains and losses for most of the session as investors wait for the Federal Reserve to deliver another jumbo interest-rate hike later this week. The S&P 500 SPX, +0.69% advanced 26.56 points, or 0.7%, to 3,899.89. The Dow Jones Industrial Average gained 197.26 points, or 0.6%, […]

All three major indexes moved with little conviction in the final hour of trading on Monday, as investors remained reluctant to put on big positions ahead of Wednesday’s anticipated rate decision from the Federal Reserve. Dow industrials DJIA, +0.64% were up 55 points, or 0.2%, while the S&P 500 SPX, +0.69% was up by 8 […]

Shares of Amazon.com Inc. AMZN, +0.91% gained 0.2% in afternoon trading Monday, after falling 2.2% in the previous session in the wake of package delivery giant FedEx Corp.’s FDX, +1.17% big profit miss and warning. Analyst Justin Post at BofA Securities said Amazon will not be immune from the global slowdown in package volumes FedEx […]

Oil futures on Monday gave up early losses to finish higher, with tight supplies returning to the spotlight, providing support for prices. The market is “waking up to realize” that distillate supplies are so tight that there’s little room for any disruptions, ahead of the winter heating season, said Phil Flynn, senior market analyst at […]

Shares of Coeur Mining Inc. CDE, +17.02% shot up 11.6% in afternoon trading Monday, after the gold and silver miner announced a deak to sell its Crown and Sterling holdings for up to $200 million. Under terms of the deal, Coeur Mining will receive closing cash of $150 million and deferred cash of $50 million, […]