Category: Market Summary

BP Plc (NYSE:BP) – BP expects a net debt increase in Q3 due to lower refining margins and changes in asset sale timing. The company faces reduced earnings of up to $600 million, signaling a weaker outlook for the oil industry amid concerns about China’s demand. Shares fell 1.0% pre-market. Tesla (NASDAQ:TSLA) – Elon Musk…

After turning in a strong performance in the previous session, stocks saw modest weakness during trading on Thursday. The major averages all gave back ground, with the Dow and the S&P 500 pulling back off yesterday’s record closing highs. The major averages moved to the upside going into the close of trading but remained in…

Tesla (NASDAQ:TSLA) – Tesla’s sales in China increased by 19.2% in September, totaling over 72,000 electric vehicles sold, its best performance of the year. Deliveries of locally produced Model 3 and Model Y rose by 1.9% from the previous month. In Q3, Tesla recorded a 12% growth in sales of Chinese-made electric vehicles. BYD also…

U.S. stocks started off on a somewhat flat note on Wednesday, but gained in strength as the day progressed, as investors assessed the minutes of the Federal Reserve’s most recent policy meeting, and looked ahead to the nation’s consumer price and producer price inflation data for more clarity on interest-rate trajectory. The major averages all…

Alphabet (NASDAQ:GOOGL) – The U.S. Department of Justice is considering asking a judge to force Google to sell parts of its business to mitigate its search dominance, including Chrome and Android. The DOJ proposes measures to reduce Google’s dominance, which could impact revenues and benefit competitors. Google plans to appeal, calling the proposals “radical” and…

U.S. stocks moved higher on Tuesday, with technology stocks turning in a strong performance. Pushing geopolitical concerns and interest-rate uncertainty aside, investors picked up stocks, choosing to focus on the earnings season. The major averages all ended on a firm note. The Dow started off on a sluggish note and remained that way till midway…

Honeywell (NASDAQ:HON) – Honeywell plans to spin off its advanced materials division, which could be worth over $10 billion as an independent company. CEO Vimal Kapur is focusing on aviation, automation, and energy, according to WSJ. The advanced materials division serves sectors like retail, pharmaceuticals, buildings, and manufacturing, with $3.65 billion in sales last year.…

U.S. stocks fell on Monday amid easing prospects of aggressive rate cuts by the Federal Reserve following a much higher than expected addition in U.S. non-payroll employment in the month of September. Investors also awaited earnings announcements from major banks, and some crucial economic data, including readings on consumer price and producer price inflation. The…

Pfizer (NYSE:PFE) – Activist investor Starboard Value acquired about $1 billion in Pfizer shares, seeking changes to improve performance. Former CEO Ian Read and former CFO Frank D’Amelio showed interest in supporting Starboard, according to Reuters. Pfizer is facing a significant decline in COVID-19 vaccine and drug sales, leading to a stock drop. Shares rose…

U.S. stocks rallied on Friday, lifting the major averages to a firm close, as upbeat non-farm payroll data helped offset concerns about Middle East tensions and prompted investors to indulge in some brisk buying at several counters from across various sectors. The Dow (DOWI:DJI) settled at a fresh record high at 42,352.75, gaining 341.16 points…