ADVFN US – Market Content Editor

Shares of Fifth Third Bancorp (NASDAQ:FITB) fell 2.7% in after-hours trading on Tuesday after the Cincinnati-based bank revealed it may face losses of up to $200 million due to alleged fraud involving a commercial borrower. The lender reported it identified “alleged external fraudulent activity” linked to an asset-backed finance loan with an outstanding balance near…

Rubrik (NYSE:RBRK) saw its shares fall more than 4% in premarket U.S. trading Tuesday, even after reporting a quarterly loss narrower than anticipated and providing an optimistic outlook. Analysts at BMO Capital Markets noted that net new subscription annual recurring revenue (ARR) — which reflects sales from new clients and upgrades minus revenue lost from…

Synopsys (NASDAQ:SNPS) saw its stock drop sharply Tuesday after posting third-quarter results that missed analyst forecasts, alongside soft guidance for the upcoming quarter. The decline reflects ongoing pressure from U.S. restrictions on chipmaking equipment sales to China, which dampened demand. Shares fell nearly 20% in premarket trading Wednesday following the report. For the quarter ending…

GameStop (NYSE:GME) shares jumped 8% in premarket trading Wednesday after the video game retailer exceeded Wall Street expectations for the second quarter, posting higher revenues and returning to profitability, driven by strong demand for hardware and collectibles. The company reported earnings of 25 cents per share, surpassing analysts’ consensus estimate of 16 cents. Revenue climbed…

U.S. online brokerage Robinhood Markets (NASDAQ:HOOD) is stepping into social media with the launch of Robinhood Social, a new in-app platform designed specifically for investors, the company announced Wednesday. The feature will allow users to share verified trades, track the activity of other investors, and participate in strategy conversations, drawing inspiration from Reddit’s WallStreetBets and…

ExxonMobil (NYSE:XOM) is forecasting that the European Union will enter into multi-decade natural gas contracts with the United States, aligning with its broader commitment to purchase American energy, according to a report in the Financial Times on Wednesday. In July, the EU pledged to acquire $750 billion worth of U.S. energy by 2028 as part…

Oracle Corporation (NYSE:ORCL) experienced a flurry of price target upgrades on Wednesday as analysts reacted to the company’s bullish forecast for cloud orders, fueled by rising demand for artificial intelligence services. The tech giant projected cloud infrastructure revenue growth of roughly 77% to $18 billion in the current fiscal year, with expectations to surge further…

Novo Nordisk (NYSE:NVO) revealed on Wednesday plans to reduce its global workforce by 9,000 positions as part of a broader initiative to streamline operations and manage costs. The Danish pharmaceutical company, known for its weight-loss drug Wegovy and diabetes treatment Ozempic, said the cuts represent roughly 11.5% of its total 78,400 employees, with approximately 5,000…

The U.S. dollar held steady on Wednesday, recovering slightly after recent losses as investors prepared for crucial inflation reports that could shape the Federal Reserve’s next steps on interest rates. At 04:45 ET (08:45 GMT), the Dollar Index, which tracks the greenback against six major currencies, rose 0.1% to 97.820, following a 0.3% gain on…

Gold continued to trade near record levels in Asian markets on Wednesday, following gains from the previous session, as investors positioned themselves ahead of expectations for a Federal Reserve interest rate reduction next week. Spot gold climbed 0.5% to $3,646.14 per ounce at 02:17 ET (06:17 GMT), after touching an all-time high of $3,674.09/oz on…