Category: Market Summary

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…

The major U.S. index futures are currently pointing to a higher open on Friday, with stocks likely to move to the upside after showing a lack of direction over the two previous sessions. The futures climbed more firmly into positive territory following the release of a closely watched Labor Department repot showing much stronger than…

Following the lackluster performance seen during trading on Wednesday, stocks continued to experience choppy trading during Thursday’s session. The major averages once again spent the day bouncing back and forth across the unchanged line. The major averages eventually finished the day modestly lower. While the Nasdaq edged down 6.65 points or less than a tenth…

The major U.S. index futures are currently pointing to a modestly lower open on Thursday, with stocks likely to move back to the downside after ending yesterday’s lackluster session slightly higher. Ongoing concerns about rising tensions in the Middle East may weigh on Wall Street, although trading activity is likely to remain subdued ahead of…

After recovering from an early move to the downside, stocks showed a lack of direction over the course of the trading session on Wednesday. The major averages spent the day bouncing back and forth across the unchanged line before eventually closing slightly higher. The Dow edged up 39.55 points or 0.1 percent to 42,196.52, the…

The major U.S. index futures are currently pointing to a lower open on Wednesday, with stocks likely to see further downside following the steep drop seen on Tuesday. Concerns about escalating tensions in the Middle East may continue to weigh on Wall Street following Iran’s ballistic missile attack against Israel on Tuesday. While Iran has…

After moving sharply lower early in the session, stocks regained some ground over the course of the trading day on Tuesday but remained firmly negative. The major averages all moved to the downside on the day, with the tech-heavy Nasdaq leading the way lower. The Nasdaq (NASDAQI:COMP) tumbled 278.81 points or 1.5 percent to 17,910.36,…