Tag: Marketwatch
Shares of Netflix Inc. NFLX, -6.35% took a 5.0% hit in afternoon trading Wednesday, putting them on track to close at a five-year low, in the wake of a New York Times report that the streaming video giant plans to launch and ad-supported pricing tier and crack down on password sharing by the end of […]
All three major U.S. stock benchmarks closed lower Wednesday, with Dow Jones Industrial Average booking a fifth straight day of losses, as investors parsed fresh inflation data showing the annual pace slowed less than expected. The Dow Jones Industrial Average DJIA, -1.02% closed down about 1%, while the S&P 500 SPX, -1.65% fell about 1.6% […]
Shares of Rivian Automotive Inc. RIVN, -9.27% tumbled 12.0% in afternoon trading toward a record low, following Ford Motor Co.’s F, -3.97% disclosure that it sold more than $200 million worth of the electric vehicle maker’s stock. Ford’s share sale came after the lockup agreement in Rivian’s initial public offering expired on Sunday. Meanwhile, ecommerce […]
The Fresh Market Holdings said Wednesday that South American retailer Cencosud agreed to invest $676 million for a 67% ownership position in the Greensboro, N.C.-based, 160-store supermarket chain in 22 states. The Berry family, management and Apollo Global Management Inc. APO, +3.12% will retain a minority position in Fresh Market, which generated $1.93 billion in […]
Kohl’s Corp. KSS, -2.79% announced Wednesday that shareholders voted to re-elect all 13 members of the department-store retailer’s board, rejecting calls from activist investors Macellum Advisors GP, LLC to overhaul the directors. “The Board remains focused on running a robust and intentional review of strategic alternatives while executing our strategy to drive shareholder value,” said […]
Moderna Inc. MRNA, -2.56% said Wednesday its recently appointed chief financial officer, Jorge Gomez, has departed the company with immediate effect. The company said the move comes after the May 10 disclosure from Dentsply Sirona Inc. XRAY, -7.31% of an internal investigation into certain matters, including financial reporting. Dentsply, which makes dental products and technology, […]
Perrigo PLC shares PRGO, +0.37% slid 4% in premarket trade Wednesday, after the personal self-care product maker swung to a loss for the first quarter and fell short of estimates. The Dublin-based Perrigo posted a net loss of $2.4 million, or 2 cents a share, after income of $38.1 million, or 28 cents a share, […]
China’s level of COVID immunity is not strong enough to fight an uncontrolled omicron epidemic, which could cause a “tsunami” of 1.55 million deaths if allowed to spread unchecked. That’s according to a peer-reviewed report from Shanghai’s Fudan University that published in the journal Nature on Tuesday. It comes as China faces criticism and anger […]
Stocks finished a volatile session mixed on Tuesday, with the Dow adding to weekly losses ahead of a key reading on inflation due Wednesday. The blue-chip Dow Jones Industrial Average DJIA, -0.26% shed about 85 points, or 0.3%, to end near 32,160, despite climbing as high as 32,752.17 earlier in the session. The loss came […]
Shares of Arlo Technologies Inc. ARLO, -5.57% rallied more than 15% in the extended session Tuesday after the maker of home security cameras and other residential security equipment reported a narrower-than-expected first-quarter loss and sales topped Wall Street expectations, helped by the “strong growth” of Arlo’s service business. Arlo said it lost $8.5 million, or […]