Finance
Stocks making the biggest moves after hours: Nike, FedEx, Lennar and more
Check out the companies making headlines in extended trading: Nike — Shares soared 10%. The sneaker company announced that CEO John Donahoe would step down from the role on Oct. 13. Nike veteran Elliott Hill, who had been at the company for 32 years before retiring in 2020, will take the helm. FedEx — Shares […]
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Stocks making the biggest moves midday: Tesla, Mobileye Global, Darden Restaurants and more
Check out the companies making headlines in midday trading: Tech stocks — Key tech names rallied a day after the Federal Reserve’s supersized rate cut decision. Tesla and Meta jumped around 7% and 4%, respectively, while chip darlings Nvidia and ASML each advanced more than 5%. Edgewise Therapeutics — Shares skyrocketed more than 54% after […]
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Stocks making the biggest moves premarket: Darden Restaurants, Nvidia, DoorDash, Coursera and more
Check out the companies making headlines before the bell. Darden Restaurants — Shares advanced nearly 11% after the restaurant operator announced a multiyear partnership with Uber for on-demand delivery later this year. The company reported weaker-than-expected quarterly earnings and revenue, however, as its sales weakened at Olive Garden and its fine dining restaurants. NextEra Energy […]
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What buying Commerzbank would mean for UniCredit — and the banking sector
Key Points Last week, UniCredit announced it had taken a 9% stake in Commerzbank, confirming that half of this shareholding was acquired from the government. UniCredit continues to surprise markets with some stellar quarterly profit beats. It earned 8.6 billion euros last year (up 54% year-on-year), also pleasing investors via share buybacks and dividends. Analysts are hoping […]
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Ray Dalio says the Fed faces a tough balancing act as the economy faces ‘enormous amount of debt’
Key Points As the U.S. Federal Reserve implemented its first interest rate cut since the early Covid pandemic, billionaire investor Ray Dalio flagged that the U.S. economy still faces an “enormous amount of debt.” “The challenge of the Federal Reserve is to keep interest rates high enough that they’re good for the creditor, while keeping […]
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The Fed forecasts lowering rates by another half point before the year is out
U.S. Federal Reserve Chair Jerome Powell speaks during a press conference following a two-day meeting of the Federal Open Market Committee on interest rate policy in Washington, U.S., July 31, 2024. Kevin Mohatt | Reuters The Federal Reserve projected lowering interest rates by another half point before the end of 2024, and the central bank […]
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Stocks making the biggest moves midday: Intuitive Machines, U.S. Steel, Victoria’s Secret and more
Check out the companies making headlines in midday trading: Intuitive Machines — Shares soared 51% after the space exploration company secured a roughly $5 billion space network contract from NASA. United States Steel — The U.S. steel producer saw shares jump more than 2% after news that a U.S. security panel has reportedly granted Nippon […]
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JPMorgan creates new role overseeing junior bankers as Wall Street wrestles with workload concerns
Key Points JPMorgan Chase created a new global role overseeing all junior bankers in an effort to better manage their workload after the death of a Bank of America associate in May forced Wall Street firms to examine how they treat their youngest employees. The firm named Ryland McClendon its global investment banking associate and […]
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Stocks making the biggest moves premarket: General Mills, U.S. Steel, V.F. Corp., ResMed, and more
Check out the companies making headlines in premarket trading. United States Steel — Shares advanced more than 3% after Reuters reported the Committee on Foreign Investment in the United States granted a request to push back a review of Nippon Steel’s bid for U.S. Steel until after the November election. Reuters cited a person familiar […]
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Point72’s Steve Cohen is stepping back from trading his own book
Key Points Steve Cohen is retiring from the trading floor at his hedge fund Point72. Point72, which uses long/short, macro and systematic strategies, manages more than $35 billion. The firm is planning to launch a separate, artificial intelligence-focused hedge fund to capitalize on the boom. Source
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