Category: Market Summary
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Schwab and Snowflake Retreat in Premarket, WeRide Postpones IPO, Halliburton Cyberattack, McDonald’s Instagram Hack
Toronto Dominion Bank (NYSE:TD), Charles Schwab (NYSE:SCHW) – Canada’s TD Bank Group has set aside an additional $2.6 billion to cover penalties from U.S. regulatory investigations into deficiencies in its anti-money laundering (AML) program. To offset this cost, it will sell part of its stake in Charles Schwab, reducing its ownership from 12.3% to 10.1%.…
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U.S. Stocks Move Back To The Upside As Fed Minutes Add To Rate Cut Optimism
Following the modest pullback seen in the previous session, stocks moved back to the upside during trading on Wednesday. The major averages fluctuated over the course of the trading day but managed to close in positive territory. The Nasdaq and the S&P 500 closed higher for the ninth time in the past ten sessions. The…
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Walmart Sells JD.com Stake, Microchip Suffers Cyberattack, Union Pacific Warns of Strike in Canada, and Latest News
Walmart (NYSE:WMT), JD.com (NASDAQ:JD) – Walmart intends to raise up to $3.74 billion by selling its 5.19% stake in the Chinese e-commerce company JD.com. They are offering 144.5 million shares between $24.85 and $25.85 each, with Morgan Stanley as the broker. The sale aims to focus resources on the company’s operations in China and other…
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Berkshire Reduces Stake in BofA, Hawaiian Airlines Soars 10%, Paramount Receives $4.3B Offer, and More
Berkshire Hathaway (NYSE:BRK.B), Bank of America (NYSE:BAC) – Berkshire Hathaway sold a total of 14 million shares of Bank of America in recent days, reducing its stake to 12%. The sale, which raised about $550 million, was made last Thursday, Friday, and Monday, at an average price of $39.50 per share. Berkshire now owns 928…
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U.S. Stocks Extend Upward Trend With Another Strong Day
Stocks moved mostly higher over the course of the trading session on Monday, adding to the strong gains posted last week. The major averages showed a lack of direction early in the session but climbed firmly into positive territory as the day progressed. The major averages surged going into the final hour of trading, with…
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FuboTV Soars 12% After Venu Sports Block, Goldman Sachs Lowers U.S. Recession Odds, BHP Ends Chile Strike
FuboTV (NYSE:FUBO), Walt Disney (NYSE:DIS), Fox Corporation (NASDAQ:FOX) – A U.S. judge temporarily blocked the launch of Venu Sports, a new sports streaming service backed by Disney, Fox, and Warner Bros Discovery. The decision came after FuboTV alleged antitrust practices by the media giants that could harm competition and inflate prices for consumers. Fubo’s shares…
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Nasdaq, S&P 500 Move Higher For Seventh Consecutive Session
After showing a lack of direction early in the session, stocks moved mostly higher over the course of the trading day on Friday. The major averages climbed more firmly into positive territory after bouncing back and forth across the unchanged line in early trading. The major averages pulled back off their best levels late in…
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Deutsche Bank Faces Shareholder Backlash, Bank of America Sponsors 2026 World Cup, Quanterix CEO Buys More Shares
Deutsche Bank (NYSE:DB) – Deutsche Bank has proposed a settlement to resolve shareholder lawsuits alleging that the bank underpaid for the Postbank acquisition. However, shareholders’ lawyer Jan Bayer rejected the offer, calling it unsatisfactory. Shares rose 0.9% in pre-market. Bank of America (NYSE:BAC) – Bank of America has partnered with FIFA to sponsor the 2026…
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Upbeat Retail Sales Data Contributes To Rally On Wall Street
After trending higher over the past several sessions, stocks showed another significant move to the upside during trading on Thursday. The major averages all posted strong gains, with the Nasdaq and the S&P 500 extending their winning streaks to six days. The major averages pulled back off their best levels going into the close but…
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Google Forced to Modify Play Store, Apple Innovates, Victoria’s Secret Hires CEO, Mars Buys Kellanova
Alphabet (NASDAQ:GOOGL) – A U.S. judge plans to force Google to allow Android users to download apps from sources other than the Play Store after a favorable antitrust ruling for Epic Games. The decision will be clear but won’t detail daily management. Google argues this will harm security and competition. Shares fell 2.3% pre-market. Apple…