Barclays asked by watchdog to review private equity exposure, source says

Reuters | June 14, 2024

LONDON (Reuters) – Britain’s Prudential Regulation Authority (PRA) has asked Barclays to review its exposure to leveraged finance, a source familiar with the matter said on Friday, part of an industry-wide probe into lenders’ exposure to the private equity industry. The Bank of England in April said very few banks had a clear idea of […]

Oracle Stock Bustin a Move

Adam Eckert | June 12, 2024

Oracle Corp (NYSE:ORCL) shares are trading higher Wednesday on the heels of the company’s quarterly results. The company also announced partnerships with Google, Microsoft and OpenAI. What To Know: Oracle reported fourth-quarter revenue of $14.3 billion, missing the consensus estimate of $14.554 billion, according to Benzinga Pro. Oracle reported fourth-quarter adjusted earnings of $1.63 per share, missing average […]

Yelp Can Sue Reputation Company: Finally

Reuters | June 7, 2024

By Jonathan Stempel (Reuters) -Yelp can pursue a lawsuit accusing a reputation management company of fraudulently advertising its ability to remove “bad” reviews from the business review website. In a decision late Thursday night, U.S. District Judge William Alsup in San Francisco said Yelp can pursue trademark infringement and unfair competition claims against ReviewVio, which […]

Nvidia Overtakes Apple as No. 2 Most Valuable Company

Reuters | June 6, 2024

(This June 5 story has been corrected to show Nvidia’s market cap gain was nearly $150 billion, not $150 million, in paragraph 10) By Noel Randewich (Reuters) – Nvidia’s rallied to record highs on Wednesday, with the artificial intelligence chipmaker’s valuation breaching the $3 trillion mark and overtaking Apple to become the world’s second most […]

Trump Media Shares See How Bad

Reuters | May 30, 2024

By Chibuike Oguh NEW YORK (Reuters) – Shares of Trump Media & Technology Group dropped 6.5% late on Thursday after a New York jury convicted former President Donald Trump for falsifying documents to cover up a payment to silence a porn star ahead of the 2016 election. The Truth Social parent, majority owned by Trump, […]

Merck to buy eye-focused drug developer EyeBio for as much as $3 billion

Reuters | May 29, 2024

By Christy Santhosh (Reuters) -Merck on Wednesday agreed to buy privately held biotech EyeBio for as much as $3 billion, as it looks to diversify its portfolio of experimental drugs with treatments for eye diseases. The drugmaker agreed to pay $1.3 billion in cash and another $1.7 billion in future milestone-based payments for EyeBio, and […]

Inflation Data, Presidential Debate Could Sink Summer Rally

Reuters | May 24, 2024

By David Randall NEW YORK (Reuters) – The typical summer slowdown in U.S. stock markets may be more pronounced this year with inflation jitters and an early presidential debate that have the potential to weigh on a rally that has pushed the S&P 500 near record highs in recent months. The S&P 500 is up […]

Why Is Home Furnishing Retailer Williams-Sonoma Stock Surging Today?

Shivani Kumaresan | May 22, 2024

Williams-Sonoma, Inc (NYSE:WSM) shares are trading higher after the company reported first-quarter FY24 earnings above street view. The company reported a first-quarter FY24 sales decline of 5% year-on-year to $1.66 billion, meeting the analyst consensus estimate. Comparable brand revenue for the quarter declined 4.9%. Adjusted EPS of $4.07 beat the analyst consensus estimate of $2.70. Gross margin expanded 980 basis […]

Oil eases on worries about US inflation, interest rates

Reuters | May 20, 2024

By Scott DiSavino NEW YORK (Reuters) -Oil prices eased less than 1% on Monday as U.S. Federal Reserve officials said they were awaiting more signs that inflation was declining before the central bank starts cutting interest rates. Two top Fed officials said they’re not yet ready to say inflation trends are again moving sustainably back […]

Walmart’s strong forecast sparks stock surge to record high

Reuters | May 16, 2024

By Ananya Mariam Rajesh and Siddharth Cavale (Reuters) -Walmart raised its full-year forecast and reported better-than-expected quarterly results on Thursday, betting that easing inflation will drive stronger sales of groceries and non-essential merchandise like clothing and electronics, sending its shares to a record high in their biggest one-day gain in four years. Some U.S. retailers […]

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