ADVFN US – Market Content Editor
-
Five Market Themes to Watch in the Week Ahead
A heavy slate of U.S. economic data will dominate attention this week as investors look to assess the health of the American economy before the Federal Reserve’s next rate decision. Expectations for a rate cut at next week’s meeting have been rising, but the upcoming indicators could offer a new—though delayed—window into inflation trends and…
-
Crypto-Linked Stocks Sink as Fresh Bitcoin Selloff Hammers the Sector
Companies tied to the cryptocurrency market slumped on Monday as another wave of Bitcoin (COIN:BTCUSD) selling pressured exchanges, miners, and firms with exposure to digital assets. Bitcoin dropped about 4.4% to $86,429, deepening a retreat that followed its worst monthly performance since the 2021 crypto crash. The decline coincides with a broader risk-off shift at…
-
Canadian Solar Shares Jump 12% After Company Reclaims Direct Control of U.S. Operations
Canadian Solar Inc. (NASDAQ:CSIQ) rallied 12% on Monday after announcing that it will resume direct management of its U.S. business activities while continuing to shift more of its manufacturing footprint back to North America. The company plans to establish new joint ventures with U.S. investors and its majority-owned unit, CSI Solar Co., Ltd. As part…
-
Barrick Shares Gain as Miner Considers IPO for North American Gold Portfolio
Barrick Mining Corporation (NYSE:B) (TSX:ABX) climbed 4.6% on Monday after revealing that it is evaluating a potential initial public offering for a newly created entity housing its top North American gold assets. The company said its Board of Directors has unanimously authorized management to assess the possibility of forming a subsidiary that would include Barrick’s…
-
Hafnia Shares Slip 2% Even as Q3 Results Top Expectations
Hafnia Limited (NYSE:HAFN) posted better-than-expected third quarter results on Monday, reporting earnings per share of $0.18, ahead of the $0.16 analysts had forecast. Revenue also came in far stronger than anticipated at $366.5 million, beating the consensus projection of $253.52 million. Despite the impressive beat on both the top and bottom lines, the stock fell…
-
Leggett & Platt Shares Jump After Somnigroup Puts Forward All-Stock Buyout Offer
Leggett & Platt (NYSE:LEG) climbed 8% on Monday after Somnigroup International (NYSE:SGI) announced a proposal to acquire the company through an all-stock transaction. Leggett & Platt shares traded at $11.06 in early action, up from Friday’s close of $10.14, as the market reacted to a potential deal that would grant Leggett & Platt investors Somnigroup…
-
New Fortress Energy Shares Surge After Puerto Rico Clears LNG Supply Deal
New Fortress Energy (NASDAQ:NFE) jumped 28% on Monday after regulators in Puerto Rico gave provisional approval to a seven-year agreement for liquefied natural gas supply to the U.S. territory. The Financial Oversight and Management Board for Puerto Rico conditionally signed off on the deal, which carries an estimated value of about $3.2 billion. The green…
-
Synopsys Shares Jump as NVIDIA Commits $2 Billion in Strategic Partnership
Synopsys (NASDAQ:SNPS) surged 10% on Monday following news that NVIDIA (NASDAQ:NVDA) is entering a long-term strategic partnership with the company and investing $2 billion in its common stock. As part of the agreement, NVIDIA acquired Synopsys shares at $414.79 each. The collaboration is designed to combine NVIDIA’s AI and accelerated computing strengths with Synopsys’ engineering…
-
Q32 Bio Shares Soar After Offloading Phase 2 Complement Drug to Akebia
Q32 Bio Inc (NASDAQ:QTTB) saw its stock skyrocket 94% in premarket trading on Monday after revealing that it has sold its Phase 2 complement inhibitor, ADX-097, to Akebia Therapeutics (NASDAQ:AKBA). The deal delivers $12 million in upfront and guaranteed near-term milestone payments to Q32 Bio, including $7 million paid at signing. The company could ultimately…
-
SPAC News From The Last Seven Days
The Last Week’s Deals Soulpower Acquisition Corp. (NYSE:SOUL) announced it plans to acquire SWB LLC, a company established to launch Soul World Bank, a financial services conglomerate, stablecoin issuer and international bank. This deal reflects an enterprise value of $8.1bn, and includes an equity line of credit of up to $5bn. The transaction should close…