Tag: brokerswatch
Hankook Tire America Corp. said Monday it OK’d a $1.6 billion investment to increase capacity at its plant in Clarksville, Tenn. The money will pay for its already-announced Phase 2 expansion plus a new Phase 3 investment for the company’s first truck, bus and radial tires. Including the estimated 400 jobs for Phase 3, the […]
Shares of GameStop Corp. GME, +1.87% slid 2.7% in premarket trading Monday, putting them on track to suffer the longest losing streak in nearly five years. The meme stock has already plunged 26.7% over the past eight trading sessions, which matched eight-day loss streak that ended Jan. 20, 2022. If the videogame retailer’s stock closes […]
Tesla Inc. TSLA, -2.05% Chief Executive Elon Musk said Monday he is aiming to get the EV maker’s self-driving technology ready by year-end, and said he hopes it could quickly be in wide release in the U.S. and even Europe depending on regulatory approval, Reuters reported. Musk made the comments at an energy conference in […]
Workplace Property Trust is teaming up with Singapore’s GIC Pte Ltd. to acquire 53 U.S. suburban office properties valued at $1.1 billion, The Wall Street Journal reported on Monday. The deal comes less than a week after Oak Hill Advisors announced a $326.5 million investment in the company, which was founded in 2015 by Thomas […]
Apollo Global Management Inc. APO, -6.53% -backed lighting company Lumileds Holdings B.V. said Monday its U.S. and Dutch entities filed for Chapter 11 protection from creditors in U.S. Bankruptcy Court for the Southern District of New York. The company said it inked a restructuring support agreement with lenders holding a majority of its outstanding loans […]
Shares of companies exposed to cryptocurrencies slumped Monday, after bitcoin BTCUSD, -0.45% fell back below the $20,000 level for the first time in seven weeks, as hawkish comments from Federal Reserve Chairman Jerome Powell last week sparked a risk-off selloff. Bitcoin dropped 3.6% to $19,690, putting it on track for the fifth close below $20,000 […]
Shares of Pinduoduo Inc. PDD, -3.78% shot up 7.4% in premarket trading Monday, after the China-based company that connects agricultural producers with consumers reported second-quarter profit that more than tripled and revenue that rose well above expectations, citing “a recovery in consumer sentiment.” Net income grew to RMB8.90 billion ($1.33 billion), or earnings of RMB6.22 […]
Moderna Inc. MRNA, -3.77% said Monday the Swiss regulator has granted temporary authorization to its bivalent omicron-targeting COVID booster for use in adults aged 18 and older. “Spikevax Bivalent Original/Omicron is a next-generation bivalent vaccine that contains 25 ug of mRNA-1273 (Spikevax) and 25 ug of a vaccine candidate targeting the Omicron variant of concern […]
Oil futures settled higher on Friday, contributing to a gain for the week. Oil prices continue to “look reasonably underpinned given this week’s commentary from OPEC about the prospect of production cuts … but with recession concerns rising, fears over demand destruction do appear to be increasing,” said Michael Hewson, chief market analyst at CMC […]
The stock-market selloff was intensifying Friday afternoon following Federal Reserve Chairman Jerome Powell’s terse speech at Jackson Hole vowing to fight inflation until the battle has been won by bringing the annual cost of living back down to the central banks’s 2% target. The Dow Jones Industrial Average DJIA, -3.03% was down 740 points, or […]