John Ray, who took over as CEO of crypto exchange FTX amid bankruptcy proceedings, has provided detailed written testimony ahead of his Dec. 13 appearance before the United States House Financial Serv...
Tag: Corporate
FTX debtors attempt to seal corporate identities to obfuscate bankruptcy proceedings
According to documents filed on Dec. 12, the Debtors of FTX are attempting to obfuscate the bankruptcy hearing by continuing to insist all individual and corporate client identities are sealed unless ...
Oracle Stock Rises on Strong Earnings
Oracle shares were moving higher late Monday after the company posted better-than-expected financial results for its latest quarter. The enterprise software giant continued to see success in shifting ...
GE HealthCare Is Going Independent. This Is Where the Stock Should Trade.
Text size GE HealthCare should generate about $3.3 billion in Ebitda for all of 2022. Kamil Krzaczynski/Getty Images To start 2023, investors will have a choice to invest in a brand new $18 billion co...
These are the 5 most damning things FTX’s CEO has to say about Sam Bankman-Fried
Sam Bankman-Fried’s management of FTX was an “utter failure” that lacked any level of financial control and allowed his family-office trading vehicle, Alameda Research, to raid the crypto exchange’s c...
Binance and Its CEO at Risk of Criminal Charges Over AML Rules: Report
The cryptocurrency exchange Binance and executives including CEO Changpeng Zhao are at risk of U.S. criminal charges over compliance with U.S. money-laundering laws and sanctions, according to a repor...
Toyota Changing EV Strategy in Bid to Catch Tesla: Report. It’s Way Behind.
Toyota Motor has been slow to develop all-battery electric models. Now it wants to pick up the pace, as it tries to keep pace with Tesla and other EV makers, and suppliers will be key to its efforts. ...
Rivian Pauses Its Electric Van Tie-Up With Mercedes
Rivian Automotive has paused its joint venture to build commercial vans with Mercedes-Benz Group in Europe just three months after it was announced. The electric-vehicle maker, whose stock has collaps...
Horizon Therapeutics, Coupa Software, Rivian, and More Stock Market Movers
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Rivian says it won’t go forward with Mercedes-Benz deal three months after agreeing to it
Electric vehicle maker Rivian Automotive on Monday said it won’t go forward with a plan to make electric vans in Europe with Mercedes-Benz, just three months after agreeing to the pact. “As we evaluat...
Novozymes and Chr. Hansen agree deal to merge
Danish biotechnology companies Novozymes AS NZYM.B, -13.67% and Chr. Hansen Holding AS CHR, +23.64% said Monday they have agreed to merge, creating a biological solutions provider with combined annual...
Gas prices are now lower than at this time last year. Could they fall below $3 a gallon in the months ahead?
Gas prices on Thursday were slightly less on average than they did one year ago — with a slim one-cent margin — but experts say there could be cheaper gas in the weeks and month to come. Thursday’s na...
One company could determine if U.S. corporate profits rise to a record next year
As Wall Street looks toward 2023, earnings growth for the companies that make up the S&P 500 index could hinge on just one of them: Amazon.com Inc. Amazon AMZN, -1.39%, the online retail giant who...
Paccar, Deere, and 10 More Companies That Raised Their Stock Dividends This Week
Text size Paccar said it will boost its regular dividend to 25 cents a share. Dreamstime Carrier Global, Deere , Zoetis , and Paccar were among the many large U.S. companies that declared dividend inc...
Netflix Stock Has Lost Almost Half Its Value. Why It Could Make a 2023 Comeback.
Netflix has had a tough run this year. But a number of Wall Street analysts are confident for a recovery in 2023, piling up bullish ratings on the stock. On Friday, Wells Fargo analyst Steven Cahall u...
Bill Ackman’s Pershing Square Buys Up More Howard Hughes Stock
These disclosures are from 13Ds filed with the Securities and Exchange Commission. 13Ds are filed within 10 days of an entity’s attaining more than 5% in any class of a company’s securities. Subsequen...
More Economic Signs Point to a Recession and Higher Interest Rates
The Federal Reserve’s heavily telegraphed move to slow its pace of monetary-policy tightening next week risks sending a message to markets that the central bank is well on its way to reining in inflat...
Tech Stocks Could Keep Falling but IAC Stock Already Looks Like a Buy
With the Nasdaq Composite down more than 30% over the past 12 months, almost every tech stock is cheaper than a year ago, and there is temptation to bottom-fish. There’s a big difference between cheap...
Survival Lessons From Past Tech Downturns
People who have been in the tech industry long enough to remember its previous major downturns have a message for those facing the current one: Decisions made now will determine who survives—and lay t...
If the bulls really were in control, these stock market sectors would be leaders right now
It’s still a bear market, according to the U.S. stock market’s sector relative strength rankings. That’s because the sectors that typically do the best at the end of bear markets have been laggards of...
The Block CEO showed ‘serious lack of judgment’ in taking loans from FTX’s Sam Bankman-Fried and not disclosing them
The fallout from the implosion of FTX continues, with crypto publication The Block on Friday announcing that Michael McCaffrey has stepped down as its chief executive officer after failing to disclose...
Boeing Retires the 747, and the Age of Jumbo Jets
The Boeing 747 has retired. The jets still fly—but new ones won’t be built. On Tuesday, the last 747 rolled off an Everett, Wash. assembly line. This is no surprise. CEO Dave Calhoun said in July 2020...
TSMC Makes a $40 Billion Bet on U.S.-Made Chips. Don’t Declare Victory Yet.
This past Tuesday, Taiwan Semiconductor Manufacturing announced that it would expand its investments in Arizona to more than $40 billion—from its initial $12 billion commitment. TSMC’s first Arizona f...
As Carvana Plunges, Consider These 5 Car Dealer Stocks
It was a bad week for Carvana —and a bad week for used-car dealers. But some auto-dealer stocks might still be worth buying. After falling almost 40% this past week, Carvana (ticker: CVNA) is off an i...
These money and investing tips can fill your portfolio with holiday cheer
Don’t miss these top money and investing features: Sign up here to get MarketWatch’s best mutual funds and ETF stories emailed to you weekly! INVESTING NEWS & TRENDS Be on guard against Wall Stree...