Category: Market Summary
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Novavax Surges 57% Post $1.4 Billion Sanofi Deal; Apple Boosts Data Centers with AI and Internal Chips, and More News
Novavax (NASDAQ:NVAX), Sanofi (NASDAQ:SNY) – Novavax closed a $1.4 billion deal with Sanofi to commercialize its Covid-19 vaccine and develop a new combined vaccine against coronavirus and influenza, boosting NVAX shares by 56.70% in pre-market. The deal led Novavax to suspend its continuity warning, reversing its previous financial decline. Apple (NASDAQ:AAPL) – Apple plans to…
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U.S. Stocks Move Mostly Higher, Dow Extends Winning Streak To Seven Days
Following the lackluster performance seen over the two previous sessions, stocks moved mostly higher during trading on Thursday. The Dow extended its winning streak to seven sessions, once again reaching its best closing level in over a month. The major averages ended the day just off their highs of the session. The Dow jumped 331.37…
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Bain Capital in Talks to Acquire PowerSchool; Blackstone Emerges Victorious in Hipgnosis Bidding War, and More News
Bain Capital (NYSE:BCSF), PowerSchool Holdings (NYSE:PWSC) – Bain Capital is in talks to purchase PowerSchool, an educational software provider, in a private deal that could value the company at about $6 billion, including debt. PowerSchool provides cloud-based software for primary education in North America, serving over 50 million students in more than 90 countries. Blackstone…
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Dow Extends Winning Streak Amid Another Lackluster Session
Stocks showed a lack of direction over the course of the trading day on Wednesday, extending the lackluster performance seen during Tuesday’s session. Despite the choppy trading, the Dow closed higher for the sixth straight day, reaching its best closing level in over a month. The major averages eventually finished the day mixed. While the…
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Reddit Rises 15% After First Quarterly Report, Upstart and Twilio Plunge Due to Weak Q2 Forecast, and More in Earnings
Reddit (NYSE:RDDT) – Shares of the social media company rose 15% in pre-market trading due to better-than-expected quarterly earnings in its first report since the company went public in March. Reddit generated revenue of $243 million, surpassing the $212.8 million expected by FactSet analysts. The loss per share was $8.19, which may not be directly…
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U.S. Stocks Close Little Changed But Dow Extends Winning Streak
Stocks saw modest strength throughout much of the trading session on Tuesday but gave back ground in afternoon trading to end the day little changed. The Dow still managed to close higher for the fifth consecutive session, reaching its best closing level in a month. The major averages ended the day narrowly mixed. While the…
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Tesla’s April Sales Down 18% in China, Amazon’s Multi-Billion Dollar Cloud Expansion in Singapore, and More News
Amazon (NASDAQ:AMZN) – Amazon plans to invest $8.88 billion in Singapore over the next four years to expand its cloud infrastructure, bringing its total in the region to over $17.06 billion by 2028. Tesla (NASDAQ:TSLA) – Tesla laid off employees in software, services, and engineering on Monday, as part of the announcement to reduce its…
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U.S. Stocks See Further Upside Amid Renewed Interest Rate Optimism
Stocks showed a strong move to the upside during trading on Monday, extending the rally seen to close out the previous week. With the continued advance, the major averages reached their best closing levels in almost a month. The Nasdaq and the S&P 500 reached new highs for the session going into the close of…
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Perficient Stock Soars 52.9% Post-Acquisition; Luminar Declines 10% Amid Workforce Cutbacks, and Other News
Perficient (NASDAQ:PRFT) – After an acquisition agreement with EQT, a Swedish private equity firm, Perficient saw its shares soar 52.9% in pre-market trading to $73.55. EQT offered $76 per share, representing a 58% premium over Perficient’s closing price on Friday of $48.11. Luminar Technologies (NASDAQ:LAZR) – Luminar Technologies faces staff cuts, reducing 20% of its…
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Jobs Data, Apple Earnings Contribute To Extended Rally On Wall Street
Following the rally seen over the course of Thursday’s session, stocks showed another strong move to the upside during trading on Friday. The major averages all moved sharply higher, with the tech-heavy Nasdaq leading the charge. The major averages moved roughly sideways after an early surge, remaining firmly positive. The Dow jumped 450.02 points or…