Category: Latest News
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JPMorgan: Rising Dollar-Equity Correlation May Weaken Diversification Benefits
JPMorgan Chase (NYSE: JPM) analysts are noting a shift in the relationship between the U.S. dollar and global equities, suggesting the greenback may no longer serve as a strong diversifier for stock portfolios. In a recent note to clients, the bank highlighted a growing—though still modest—positive correlation between the weekly returns of the U.S. Dollar…
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Stock Market Today: S&P 500 Ends at Record High Despite Chip Sector Weakness
The S&P 500 closed at a new all-time high on Tuesday, although gains were modest as chip stocks stumbled and investors processed a flurry of corporate earnings reports. By the close at 4:00 p.m. ET, the Dow Jones Industrial Average rose 170 points (0.40%), and the S&P 500 edged up 0.03% to a record close…
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U.S. Stocks Recover From Early Weakness To Close Mixed
After coming under pressure early in the session, stocks regained ground over the course of the trading day on Tuesday. The major averages climbed well off their worst levels of the day before eventually ending the session narrowly mixed. While the tech-heavy Nasdaq fell 81.49 points or 0.4 percent to 20,892.69, the S&P 500 (SPI:SP500)…
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Replimune Shares Collapse After FDA Rejects Melanoma Therapy Application
Replimune Group, Inc. (NASDAQ:REPL) saw its stock nosedive 77% on Tuesday after the company revealed it received a Complete Response Letter (CRL) from the U.S. Food and Drug Administration (FDA), denying approval for its experimental melanoma treatment. The regulatory setback concerns Replimune’s Biologics License Application (BLA) for RP1, which was proposed in combination with nivolumab…
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Seres Therapeutics Rallies After Appointing Co-CEOs, Eyes New Partnerships
Shares of Seres Therapeutics (NASDAQ:MCRB) rose 5% during early trading in New York on Monday after the biotech company announced a leadership shake-up, naming Thomas DesRosier and Marella Thorell as co-Chief Executive Officers. The executive transition follows the departure of former CEO Eric Shaff, who will continue to serve on Seres’ board of directors. The…
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Lockheed Martin Stock Sinks After $1.6B in Program Losses Drag Down Q2 Earnings
Shares of Lockheed Martin Corporation (NYSE:LMT) dropped more than 8% in premarket trading Tuesday following a disappointing second-quarter earnings report marred by hefty charges on several defense programs. The aerospace and defense contractor reported earnings of just $1.46 per share for the quarter, falling well short of Wall Street’s consensus forecast of $6.54. Revenue reached…
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Draganfly Shares Jump on New Military Drone Contract for Commander 3XL
Draganfly Inc. (NASDAQ:DPRO) saw its stock climb 11% in pre-market trading on Tuesday following the announcement of a new order for its Commander 3XL drone system from a prominent defense industry partner. The drone technology firm revealed that the buyer is “a globally recognized defense contractor specializing in persistent surveillance technologies for military operations,” with…
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Intuit Expands Enterprise Suite with AI Agents and Advanced Financial Tools
Intuit Inc. (NASDAQ:INTU) has rolled out a series of updates to its Enterprise Suite platform, introducing AI-driven features aimed at streamlining operations for mid-market businesses. The enhancements include four new artificial intelligence agents designed to simplify financial management, accounting workflows, and project execution. The company’s latest AI tools consist of a Finance Agent for reporting…
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Pentair Tops Q2 Expectations, Shares Dip Despite Upbeat Full-Year Outlook
Pentair plc (NYSE:PNR) delivered second-quarter results that came in ahead of expectations on the earnings front, though shares edged down in pre-market trading due to a mixed outlook for the months ahead. The water technology company reported adjusted earnings per share of $1.39 for the quarter, surpassing Wall Street’s consensus of $1.34. Revenue totaled $1.12…
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Coca-Cola Beats Earnings Estimates and Plans U.S. Cane Sugar Launch
Coca-Cola (NYSE:KO) reported stronger-than-anticipated earnings for the second quarter and reiterated expectations to achieve adjusted per-share earnings growth at the upper end of its previously outlined range, despite facing challenges from tariff-related pressures. The company also announced plans to introduce a new product made with cane sugar in the U.S. market this fall. This move…