Category: Market Summary

Fisker (NYSE:FSR) – The American electric vehicle manufacturer filed for bankruptcy last night, aiming to sell its assets and restructure debts following severe financial challenges in the production and delivery of its “Ocean” SUVs. Fisker, declaring bankruptcy under Chapter 11, reported assets valued between $500 million and $1 billion and liabilities ranging from $100 million…

Stocks showed a lack of direction early in the session on Monday but moved notably higher over course of the trading day. The major averages all moved to the upside, with the Nasdaq and the S&P 500 reaching new record closing highs. The major averages pulled back off their best levels going into the close…

Walt Disney (NYSE:DIS) – Disney managed to secure the release of Deadpool & Wolverine in Chinese cinemas in July, after previous restrictions. This move increases Disney’s revenue potential as American films often generate more revenue in China than in the US. Additionally, Pixar’s Inside Out 2 grossed an impressive $155 million on its opening weekend…

Stocks saw modest weakness throughout much of the trading session on Friday but recovered to end the day roughly flat. The tech-heavy Nasdaq bounced back and forth across the unchanged line before eventually ending the session at a record closing high. While the Nasdaq (NASDAQI:COMP) crept up 21.32 points or 0.1 percent to 17,688.88, the…

Bitcoin recovers slightly; hash rate drop indicates possible miner capitulation After a negative day for the crypto sector, Bitcoin (COIN:BTCUSD) recovered by 0.60% on Friday morning, priced at $67,122.71 in the last 24 hours. Regarding the recent dynamics in the Bitcoin mining market, the hash rate has dropped to around 600 exahashes per second, suggesting…

Adobe (NASDAQ:ADBE) – Adobe exceeded expectations in the last quarter with revenue of $5.31 billion, above analysts’ consensus polled by FactSet of $5.29 billion. Adjusted earnings were $4.48 per share, surpassing estimates of $4.39. The company raised its revenue outlook to $21.4 billion to $21.5 billion and adjusted earnings to $18 to $18.20 per share…

Stocks turned in a relatively lackluster performance during trading on Thursday, as traders took a breather following the rally seen in the previous session. Despite the choppy trading, the Nasdaq (NASDAQI:COMP) and the S&P 500 (SPI:SP500) once again reached new record closing highs. The Nasdaq climbed 59.12 points or 0.3 percent to 17,667.56 and the…

Virgin Galactic (NYSE:SPCE) – Virgin Galactic shares fell 9.1% in pre-market trading after announcing a reverse stock split to meet minimum share price requirements, with a ratio of 1 to 20. The goal is to maintain the New York Stock Exchange listing amid a continued decline in stock value. Tesla (NASDAQ:TSLA) – Tesla shares are…

After an early rally on tamer than expected consumer price inflation data, stocks saw some volatility following the Federal Reserve’s monetary policy announcement but still managed to end Wednesday’s trading mostly higher. The Nasdaq (NASDAQI:COMP) led the charge, surging 264.89 points or 1.5 percent to a new record closing high of 17,608.44. The S&P 500…

Paramount Global (NASDAQ:PARA) – National Amusements ended negotiations with Skydance for a merger with Paramount Global, with terms not agreed upon. The dispute involved share control and finances. Continuing current operations without significant changes is unsustainable, pressuring Redstone to find another sale offer. Meanwhile, Paramount outlined a plan to reduce debt and seek streaming partnerships,…