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Text size NIO denied accounting allegations in a report by short-seller Grizzly Research. Qilai Shen/Bloomberg NIO stock dropped more than 12% in Hong Kong on Wednesday after the company denied a report published by short-seller Grizzly Research claiming that the Chinese electric-vehicle maker is exaggerating revenue and profit margin. In its report on Tuesday, Grizzly … Read More “NIO Says Short-Seller Report ‘Without Merit.’ The Stock Slumps.” »
Text size Vasant Narasimhan, CEO of Novartis. ERIC PIERMONT/AFP/Getty Images Pharmaceutical giant Novartis said Tuesday it will lay off more than 7% of its workforce, just a few months after CEO Vas Narasimhan announced a plan to simplify the organizational chart. Novartis (ticker: NVS) will chop as many as 8,000 positions out of the total of … Read More “Novartis Will Cut 8,000 Jobs Under CEO’s Shake-Up Plan” »
How Putin’s invasion of Ukraine could drive advances in energy technology | Fortune You need to enable JavaScript to view this site.
Text size Casinos are traditionally unaffected even in a recession scenario. Ethan Miller/Getty Images DraftKings and Penn National Gaming stocks will outperform the market by selling additional products to their existing customers, according to a new research note. JMP analyst Jordan Bender on Tuesday initiated coverage on the gaming companies with a Market Outperform rating. He … Read More “DraftKings Lands New Bull as Profitability Nears. This Analyst Also Likes Penn.” »
Text size The Fed’s annual stress tests were introduced following the 2008-09 financial crisis. Dreamstime Morgan Stanley , Goldman Sachs , Wells Fargo , and Bank of America said they would raise their dividends after the Federal Reserve gave the banks a clean bill of health in its annual stress test, saying they could withstand … Read More “Bank Stocks Boost Dividends After Fed Stress Tests” »
eBay stock was falling after an analyst downgrade. Sean Gallup/Getty Images Text size The stock market was trying to put Monday’s small loss behind it, with S&P 500 futures up 0.6% Tuesday morning. Here are some of the stocks making moves in premarket trading. Bank stocks gained as some of Wall Street’s biggest players announced … Read More “Stocks on the Move: Snowflake, eBay, Qualcomm, Riot Blockchain” »
Global Surfaces Ltd, which is engaged in the business of processing natural stones and manufacturing engineered quartz, has filed preliminary papers with Sebi to mop up funds through an initial public offering (IPO). The IPO comprises fresh issuance of 85.20 lakh equity shares and an offer-for-sale (OFS) of up to 25.5 lakh equity shares by … Read More “Global Surfaces files IPO draft papers with Sebi” »
Text size The Fed’s annual stress tests were introduced following the 2008-09 financial crisis. Dreamstime Morgan Stanley , Goldman Sachs , Wells Fargo and Bank of America said they would raise their dividends after the Federal Reserve gave the banks a clean bill of health in its annual stress test, saying they could withstand a … Read More “Goldman Sachs and Wells Fargo Boost Dividends After Fed Stress Tests” »
Text size Total underwriting revenue at Jefferies was down by 62% as banks face tougher conditions. Amir Hamja/Bloomberg Wall Street just got a taste of what to expect when investment banks post second-quarter earnings next month and it isn’t happy. Jefferies Financial (ticker: JEF) posted results for its fiscal quarter ending May 31 and saw … Read More “Jefferies Just Posted Results. Investment Banks Should be Worried.” »
On Monday morning, the news broke that Russia’s creditors hadn’t receive interest payments by a Sunday deadline. A deadline for €100 million in interest payments on two bonds, one denominated in U.S. dollars, the other in euros, had expired on May 27, but a 30-day grace period lapsed on Sunday, Reuters reported. The news failed … Read More “Russia misses bond payment deadline — but does it matter? – POLITICO” »
