Tag: brokerswatch
Published: Sept. 13, 2022 at 10: 11 a.m. ET President Joe Biden said in a statement Tuesday that the August data for consumer prices “show more progress in bringing global inflation down in the U.S. economy. Overall, prices have been essentially flat in our country these last two months: that is welcome news for American […]
The selloff in the consumer discretionary sector was unanimous Tuesday, as disappointing inflation data sparked fears that consumers would pull back on spending as prices keep rising, and as the Federal Reserve could trigger a recession with continued aggressive interest rate increases. The SPDR Consumer Discretionary Select Sector exchange-traded fund XLY, -3.94% dropped 3.3% in […]
Bank stocks fell with the broad market in early trades on Monday, as Wall Street absorbed the impact of bearish Consumer Price Index data. JPMorgan Chase & Co. JPM, -3.15% fell 2.1%, Goldman Sachs Group Inc. GS, -3.58% dropped 2.2%, Citigroup Inc. C, -2.88% subtracted 2% and Wells Fargo & Co. WFC, -4.55% gave up […]
U.S. stocks opened sharply lower Tuesday as investors reacted to a stronger-than-expected inflation reading for August. The Dow Jones Industrial Average DJIA, -2.67% dropped more than 500 points, or 1.7%, soon after the opening bell, while the S&P 500 SPX, -3.05% fell 2.2% and the technology-heavy Nasdaq Composite COMP, -3.83% dropped 2.9%, according to FactSet […]
Shares of Akero Therapeutics Inc. AKRO, +4.78% soared 101.1% in premarket trading on Tuesday after the company said its experimental treatment for nonalcoholic steatohepatitis met a primary and secondary endpoint in a Phase 2b clinical trial. NASH is a liver disease. “The magnitude and general consistency of results observed across the Phase 2a BALANCED and […]
The Financial Industry Regulatory Authority (Finra) said it has fined Bank of America Corp.’s BAC, +0.94% BofA Securities Inc. unit a $5 Million for reporting failures in large option positions in trades from 2009 to 2020. Finfra said BofA failed to report over-the-counter options positions more than 7.4 million times, according to a statement released […]
The Organization of the Petroleum Exporting Countries on Tuesday left its forecast for growth in world oil demand unchanged in 2022 and 2023. In its monthly report, OPEC said oil demand remains on track for a rise of 3.1 million barrels a day in 2022, with the second quarter revised higher amid better-than-anticipated demand in […]
BMO Capital Markets analyst Keith Bachman downgraded Adobe Systems Inc. ADBE, +0.40% shares to market perform from outperform Tuesday, though he noted that his ratings change reflected the results of a broader survey on interest in the company’s Creative Cloud suite of software rather than specific concerns about the upcoming quarterly results Adobe is due […]
Shares of Eastman Chemical Co. EMN, +1.30% slumped 3.0% in premarket trading Tuesday, after the specialty chemicals company cut its third-quarter earnings outlook, citing a slowdown in demand and challenging logistics. The company now expects adjusted earnings per share for the quarter through September of approximately $2.00, compared with previous guidance of “solid growth” relative […]
VMware Inc. VMW, +0.47% was charged by the Securities and Exchange Commission late Monday for misleading investors about its sales practices. The SEC said “beginning in fiscal year 2019, VMware began delaying the delivery of license keys on some sales orders until just after quarter-end so that it could recognize revenue from the corresponding license […]