Shares of Rivian Automotive fell after a report said the electric truck start-up is in talks to end an exclusivity pact with Amazon.com. That might have been an overreaction, judging by Amazon’s respo...
Tag: Disruptions
PacWest Bancorp insiders have lost more than $500,000 after buying stock as it tumbled last week
A handful PacWest Bancorp insiders, including Chief Executive Paul Taylor, bought the bank’s stock late last week after it started to tumble, as SVB Financial Group’s Silicon Valley Bank’s troubles be...
First Republic Bank’s stock slides amid continuing jitters about regional banks
First Republic Bank stock losses grew steeper in premarket trades as fears persisted of another run on the bank after the failure of SVB Financial and Silvergate last week. First Republic Bank stock F...
Provention Bio Stock Soars on $2.9 Billion Acquisition by Sanofi
Shares of Provention Bio soared Monday after the biopharmaceutical company agreed to be acquired by France’s Sanofi (SNY) for $25 a share, or about $2.9 billion. Provention Bio (ticker: PRVB), which f...
Credit Suisse shares fall to new record low after collapse of SVB and Signature Bank
Credit Suisse shares on Monday reached a new record low, falling as much as 9% as investors continued to hammer away at the stock of the Swiss banking giant after the collapse of banks in the U.S. Whi...
20 banks that are sitting on huge potential securities losses—as was SVB
Silicon Valley Bank has failed following a run on deposits, after its parent company’s share price crashed a record 60% on Thursday. Trading of SVB Financial Group’s SIVB, -60.41% stock was halted ear...
Oracle’s cloud strength, ‘resilient’ revenue, prompt analysts to raise targets
Oracle Corp.’s stock fell following the software giant’s fiscal third-quarter results released late Thursday, although analysts have highlighted strong momentum in the company’s cloud business. The co...
SVB Financial stock tumbles on reports of funds advising clients to pull money from bank
SVB Financial Group SIVB, -60.41% fell more than 22% in the extended session Thursday as reports surfaced that several funds are advising clients to pull their money from Silicon Valley Bank. Bloomber...
SVB Financial Realigns Portfolio—and Blows Up the Banking Sector
SVB Financial Group stock plummeted Thursday after it sold assets for a loss following a decline in deposits. The impact rippled through the banking sector, which many investors had assumed was largel...
Dow logs new 2023 low as bank sector tumbles, investors await monthly employment report
U.S. stocks finished sharply lower on Thursday, with the financial sector logging a sharp one-day drop, while investors awaited Friday’s February employment data that could help decide how large an in...
JPMorgan, Wells Fargo Stocks Tumble as SVB Woes Spark Contagion Fears
Small things can lead to big reactions, and that seems to be the case with bank stocks on Thursday, as a huge loss at SVB Financial (ticker: SIVB) has caused stocks like JPMorgan Chase (JPM), Bank of ...
Asana, MongoDB, Silvergate, JD.com, GE, and More Stock Market Movers
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Datadog’s software goes down — and so does its stock
Datadog Inc.’s software suffered an outage Wednesday, and its shares declined as analysts voiced concern about a potential hit to revenue. Datadog DDOG, -3.80% first notified customers that engineers ...
Apple’s stock gains after Wall Street bull gets a little more bullish
Shares of Apple Inc. rose Wednesday after longtime bullish analyst Dan Ives at Wedbush raised his price target, citing signs that demand for iPhones in China has been growing. The technology behemoth’...
CrowdStrike, Stitch Fix, Tesla, Occidental, SoundHound, and More Market Movers
Text size CrowdStrike’s outlook for the fiscal first quarter and year was higher than analysts’ estimates. Dreamstime Stock futures edged higher Wednesday following a session in which stocks sold off ...
Troika Media reports earnings, stock sinks after sharp gain Monday
Shares of branding and marketing company Troika Media Group Inc. TRKA, -26.85% fell 51% after hours to 28 cents, following a 27% decline in the regular session after it reported financial results. On ...
Rivian Stock Drops After the EV Start-Up Announced Plans to Raise $1.3 Billion
Electric truck start-up Rivian Automotive is getting into convertibles? Well, yes—but not the kind of convertibles car buyers think of when they hear the word. Rivian (ticker: RIVN) is raising more ca...
GE Stock Hits a New High After an Old Bear Went Into Hibernation
Shares of General Electric hit a new intraday high Monday after an analyst who had been the company’s biggest bear dropped his coverage. J.P. Morgan analyst Stephen Tusa, whose $50 price target on the...
BridgeBio Stock Surges on Dwarfism Drug Data. It’s Bad News for BioMarin.
BridgeBio Pharma stock was soaring after the biopharmaceutical company reported positive results in a Phase two clinical trial for an experimental treatment for achondroplasia, the most common type of...
Big Fund Slashes Stakes in Chip Stocks AMD, Intel, Nvidia, and Micron
Caisse de Depot et Placement du Quebec, Canada’s second-largest public pension, posted a negative annual return in 2022, the first time since the financial crisis. But the pension did beat the market....
Giant Pension Sells Caterpillar and Microsoft Stock, Buys Comcast and Visa
One of the largest Canadian pensions made major changes in its U.S.-traded portfolio. Ontario Teachers’ Pension Plan sold all its Caterpillar stock (ticker: CAT), slashed a Microsoft (MSFT) investment...
Okta’s stock jumps more than 14% as earnings forecast doubles expectations
Okta Inc. shares rallied in the extended session Wednesday after the identity-management software company topped estimates by a wide margin, and executives predicted adjusted earnings that were more t...
Buy Chip Stock Broadcom on Strong Profitability, Analyst Says
Susquehanna is getting more bullish about the prospects for Broadcom stock, citing its robust profit margins and growth potential. On Wednesday, analyst Christopher Rolland reiterated his Positive rat...
Tesla’s stock falls 5% as Elon Musk’s ‘Master Plan 3’ is short on details about both cars and finances
Tesla Inc. shares tanked more than 5% in the extended session Wednesday after the electric-vehicle maker teased a “next generation” electric-vehicle platform but stopped short of unveiling details. At...
Snowflake stock falls after earnings as forecast underwhelms
This update corrects the FactSet consensus for Snowflake’s fiscal first-quarter and fiscal 2024 product revenue. Shares of Snowflake Inc. fell more than 6% in after-hours trading Wednesday after the d...
3M’s stock surges after company says 90% of earplug plaintiffs had ‘normal’ hearing
Shares of 3M Co. surged Wednesday after the maker of consumer, industrial and healthcare products said the U.S. Department of Defense’s records show that the “vast majority” of claimants in litigation...
Rivian Stock Tumbles After Earnings. Why Wall Street Isn’t Worried.
Electric truck start-up Rivian Automotive expects to deliver 50,000 units in 2023, while Wall Street was looking for closer to 60,000 units. Shares were falling early on Wednesday. Rivian (ticker: RIV...
Rivian stock sinks 10% after revenue miss, weak outlook
Shares of Rivian Automotive Inc. dropped 10% in after-hours trading Tuesday after the electric-vehicle maker narrowed its quarterly loss but missed revenue expectations and revealed struggles with par...
AMC stock tumbles after 14th consecutive quarterly loss, fourth straight year in the red
AMC Entertainment Holdings Inc. reported a loss for a 14th consecutive quarter and fourth consecutive year Tuesday, and shares fell in after-hours trading. The movie-theater chain and meme-stock pheno...
Novavax stock shedding a quarter of its value as vaccine maker’s business in ‘substantial doubt’
Novavax Inc. shares shares sank in the extended session Tuesday after the biotech drug maker posted more than double the loss that analysts expected, and reorganized with concerns it may not be in bus...
Energy Stocks ConocoPhillips and Devon See Big Insider Buys
Two energy explorers whose stocks outperformed the broader market in 2022—a monster year for the sector—are slumping this year, but insiders at both companies recently bought up shares. ConocoPhillips...
KBW recommends buying these 11 financial stocks, including First Republic, following federal backstop for banks
On a Monday following high-profile bank failures on Friday and Sunday, it may seem to be a strange time to recommend buying stocks of banks and other financial services companies, but Keefe, Bruyette ...