Tag: Marketwatch

Coty Inc. COTY, +1.15% said Friday it plans to “gradually” resume shareholder returns, as the fragrance and cosmetics company has made “substantial” progress in reducing debt and as its operational performance has strengthened. The company is entering into agreements with several banks to start hedging for a $200 million share buyback program that it plans […]

Smithfield Foods Inc., which is a unit of China’s WH Group Ltd. WHGLY, -3.81% 288, -2.60%, said Friday it will cease all harvest and processing operations in Vernon, Calif., in early 2023. “Smithfield is taking these steps due to the escalating cost of doing business in California,” the company said. The move is part of […]

A Food and Drug Administration advisory committee on Thursday voted 15-0 that the benefits of Bluebird Bio Inc.’s BLUE, +3.32% experimental gene therapy outweigh the risks for patients younger than 18 years old who are being treated for early cerebral adrenoleukodystrophy. Bluebird’s stock was halted on Thursday while the committee discussed and then voted on […]

Activision Blizzard Inc. ATVI, -0.39% Chief Executive Bobby Kotick sent a letter to employees Friday, after a majority of quality assurance (QA) employees at subsidiary Raven Software chose to unionize. Kotick said the videogame maker will engage in “good faith negotiations” with the Communications Workers of America representing Raven Software employees, to enter into a […]

All three major stock benchmarks were trading sharply lower Friday morning after government data showed inflation surged more than expected in May to the highest annual rate since 1981. The Dow Jones Industrial Average DJIA, -2.73% was down around 585 points, or 1.8%, while the S&P 500 SPX, -2.91% slid 2% and the Nasdaq Composite […]

All 30 components of the Dow Jones Industrial Average DJIA, -2.73% are falling Friday, as data showing inflation continued to surge fueled another broad-market selloff. The Dow’s biggest percentage decliner was Salesforce Inc.’s stock CRM, -4.63%, which dropped 4.5%. The biggest drags on the price-weighted index were shares of Goldman Sachs Group Inc. GS, -5.65%, […]

Economists at Barclays said they now expect the central bank to deliver a 75-basis-point rate increase at the monetary-policy meeting on June 14-15. They said that they disagree with the market’s continued expectation for a 50-basis-point hike next week, saying, “[W]e think the US central bank now has good reason to surprise markets by hiking […]

Garmin Ltd. GRMN, -1.91% said Friday that is shareholders have approved an annual dividend of $2.92 a share, up 9% from the previous dividend of $2.68 a share. The Switzerland-based navigation, communications and information devices maker said receiving shareholder approval for dividends is in accordance with Swiss corporate law. Based on current stock prices, the […]

Economists at Jefferies, like those at Barclays, now expect the Federal Reserve to hike by 75 basis points at the June 14-15 policy meeting “as inflation expectations begin to de-anchor.” In a note, Jefferies economists Aneta Markowska and Thomas Simons wrote that Friday’s inflation data — both the CPI and UMich inflation expectations — “are […]

Major U.S. stock indexes finished sharply lower Friday, after a May reading of inflation showed no signs of a slowdown in high costs of living. The Dow Jones Industrial Average DJIA, -2.73% tumbled about 881 points, or 2.7%, to end near 31,392, while also booking a 4.6% weekly skid. That marked the worst daily percentage […]