Category: Markets

Novo Nordisk A/S (NYSE:NVO) is set to invest $4.1 billion in expanding its U.S. manufacturing operations to meet the increasing demand for its weight loss drugs. What Happened: The Danish pharmaceutical company plans to build a new 1.4 million square foot manufacturing plant near Raleigh, North Carolina, doubling its size, the company said in a…

Memecoins turned out to be the saviors of a besieged cryptocurrency market Monday, as dogwifhat, Floki, and Bonk defied the broader market sell-offs to emerge as the biggest gainers.  What Happened: A searing rally saw Solana (CRYPTO: SOL)-based WIF and BONK, along with Ethereum (CRYPTO: ETH)-based FLOKI, pump dramatically during the day, reversing the week-long…

Boeing Co. (NYSE:BA) has proposed to acquire Spirit AeroSystems Holdings Inc. (NYSE:SPR) in a deal largely financed by stock, valuing the supplier at approximately $35 per share. What Happened: The proposed acquisition, which represents a 6% premium to Spirit’s stock price on Monday, is a shift from Boeing’s earlier all-cash offer, Bloomberg reported, citing people…

The upcoming high-stakes presidential debate between incumbent Joe Biden and challenger Donald Trump is unlikely to have a significant impact on Bitcoin’s (CRYPTO: BTC) price.  What Happened: Trump and Biden will square off in the first 2024 presidential debate on Thursday which will see them lock horns on a variety of key topics. Many believe…

The most oversold stocks in the information technology sector presents an opportunity to buy into undervalued companies. The RSI is a momentum indicator, which compares a stock’s strength on days when prices go up to its strength on days when prices go down. When compared to a stock’s price action, it can give traders a…

Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE) shares are slumping in the premarket session on Tuesday. Yesterday, the California-based firm announced a reverse stock split of the company’s common stock.  The reverse stock split proposal includes a proposed range between 1-for-2 and 1-for-40 shares of outstanding common stock and a corresponding reduction in the total number of…

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our analyst ratings page. JP Morgan cut the price target for Sea Limited (NYSE:SE) from $84 to $78. JP Morgan analyst Ranjan Sharma downgraded the stock from Overweight to…

JPMorgan Chase & Co. (NYSE:JPM) has successfully drawn in more than $15 billion in assets from affluent clients for its budding tax strategy business. This development comes as the bank seeks to expand its market share and compete with rivals like Goldman Sachs Group Inc. (NYSE:GS) and Morgan Stanley (NYSE:MS). What Happened: Over the past…

Worthington Enterprises, Inc. (NYSE:WOR) is set to release earnings results for its fourth quarter, after the closing bell on Tuesday. Analysts expect the Columbus, Ohio-based company to report quarterly earnings at 94 cents per share, down sharply from $2.74 per share in the year-ago period. Worthington Enterprises is projected to post revenue of $359.39 million…

U.S. stock futures were mixed this morning, with the Nasdaq futures gaining around 80 points on Tuesday. Shares of Pool Corporation (NASDAQ:POOL) fell sharply in today’s pre-market trading after the company cut its FY24 EPS guidance. The company announced its year-to-date sales are trending down and seasonally significant Q2 2024 revenues are below previous expectations.…