Day: February 21, 2025
Steve Cohen says tariffs and DOGE’s cuts are negative for economy, market correction could be soon
Steve Cohen, chairman and CEO of Point72, speaking to CNBC on April 3, 2024. CNBC Billionaire investor Steve Cohen doubled down on his negative view of the U.S. economy due to a backdrop of punitive tariffs, immigration crackdown and federal spending cuts spearheaded by the so-called Department of Government Efficiency. The chairman and CEO of […]
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Tesla recalls more than 375,000 vehicles in U.S. due to failing power-assisted steering systems
Tesla models Y and 3 are displayed at a Tesla dealership in Corte Madera, California, on Dec. 20, 2024. Justin Sullivan | Getty Images Tesla is voluntarily recalling 376,241vehicles in the U.S. to correct an issue with failing power-assisted steering systems, according to records posted to the website of the U.S. National Highway Traffic Safety […]
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Elon Musk has a problem with X’s Community Notes when he disapproves of the results
Elon Musk, CEO of Tesla and SpaceX and owner of social media platform X, speaks at the Conservative Political Action Conference at the Gaylord National Resort Hotel and Convention Center in Oxon Hill, Maryland, Feb. 20, 2025. Andrew Harnik | Getty Images For X owner Elon Musk, the solution to monitoring misinformation online has been […]
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Once high-flying Bluebird Bio sells itself to private equity after tough times for the gene therapy maker
Sopa Images | Lightrocket | Getty Images Bluebird Bio will sell itself to private equity firms Carlyle and SK Capital for about $30 million, the company said Friday, marking the end of the Bluebird’s fall from the one of the buzziest biotech firms to one that was on the cusp of running out of money. […]
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Stocks making the biggest moves midday: UnitedHealth, Alibaba, Hims & Hers Health, Celsius and more
Check out the companies making headlines in midday trading: Novo Nordisk — Shares rose 4.9% after the Food and Drug Administration said Friday that the U.S. shortage of Novo Nordisk’s weight loss injection Wegovy and diabetes treatment Ozempic is resolved after more than two years. Hims & Hers Health — The telehealth stock, which offers compounded Wegovy and […]
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Judge declines to immediately dismiss Eric Adams’ corruption case, delays trial
New York City Mayor Eric Adams attends a press conference at the 40th precinct, in the Bronx borough of New York City, New York, U.S., Feb. 20, 2025. Jeenah Moon | Reuters A New York judge on Friday said he would not immediately dismiss Eric Adams’ corruption case, but ordered the Democratic New York City mayor’s trial delayed […]
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Shares of Hims & Hers tumble 23% after FDA says semaglutide is no longer in shortage
Products of Hims & Hers displayed. Hims & Hers Shares of Hims & Hers Health tumbled more than 23% on Friday after the U.S. Food and Drug Administration announced that the shortage of semaglutide injection products has been resolved. Semaglutide is the active ingredient in Novo Nordisk’s blockbuster weight loss drugs Wegovy and diabetes treatment Ozempic. Those […]
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Block shares plunge 17%, head for worst day in 5 years after earnings miss
Marco Bello | AFP | Getty Images Block shares plunged 16% on Friday and headed for their steepest drop since 2020 after the company reported fourth-quarter earnings that missed estimates and issued guidance for 2025 that failed to reassure investors. In its financial report late Thursday, Block reported earnings of 71 cents per share, falling […]
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Goldman’s portfolio of hedge fund favorites is trouncing the market this year. Here’s what’s in it
While the S & P 500 is trading close to its all-time high, a group of favored stocks among hedge funds is soaring even higher, according to Goldman Sachs. The S & P 500 reached an all-time intraday high as well as a new closing record on Wednesday, the broad market index’s second consecutive record […]
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Expect more volatility ahead as market navigates shifting political winds, UBS says
Volatility in stocks won’t let up anytime soon, according to UBS. The Dow Jones Industrial Average on Thursday suffered its worst day since Jan. 10, dropping more than 400 points after a sell-off in Walmart shares. The stock dropped more than 6% after the country’s largest retailer issued weaker-than-expected fiscal-year guidance. Walmart also warned it […]
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