: Shopify on Black Friday: ‘Cha-ching!’
Shopify stock surges as merchants see Black Friday sales jump 17%. The average cart price, however, rose just 1.1%.
Shopify stock surges as merchants see Black Friday sales jump 17%. The average cart price, however, rose just 1.1%.
Crypto firm BlockFi files for Chapter 11 bankruptcy protection
Widespread protests across China over the government's zero-COVID policy dominated headlines on the pandemic on Monday.
College towns often offer diversity and encourage entrepreneurs.
Digital-asset lender BlockFi Inc., a cryptocurrency company that once enjoyed a valuation of $3 billion, has filed for Chapter 11 bankruptcy protection in New Jersey, according to a Monday press release. The firm is the latest major crypto company to be felled by the ructions in the cryptocurrency space that have intensified since the start of 2022. BlockFi cited the downfall of cryptocurrency exchange FTX and its associated companies for pushing it over the edge into. As a result, representatives... Читать дальше...
Retail-sector attention on Cyber Monday after record-breaking Black Friday sales
U.S. stocks open lower as China protests rattle Wall Street
U.S. stocks opened lower Monday as growing protests in China over the country's strict COVID curbs contributed to worries over the global economic outlook. The Dow Jones Industrial Average dropped 107 points, or 0.3%, while the S&P 500 and Nasdaq Composite each fell 0.6%.
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Shares of DraftKings Inc. dropped 5.9% in premarket trading Monday, after J.P. Morgan analyst Joseph Greff turned bearish on the online sports betting and fantasy sports company, saying he sees a "longer runway and more risk" to achieving online-sports-betting (OSB) profitability than peers. Greff cut his rating to underweight, after being at neutral for at least the past two years, but kept his stock price target at $12, which implies about 21% downside from Friday's closing price of $15.14. Читать дальше...
Shares of CinCor Pharma Inc. fell 41.6% in premarket trading on Monday after the company said its experimental hypertension drug failed to meet the primary endpoint in a Phase 2 clinical trial. CinCor said it still plans to meet with the Food and Drug Administration in January to discuss plans for its Phase 3 program for baxdrostat. The company's stock is down 29.8% over the past three months, while the S&P 500 has declined 4.1%.
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Shares of Sarepta Therapeutics Inc. were up 4.6% in premarket trading on Monday after the company said U.S. regulators accepted its application for accelerated approval of SRP-9001, its experimental treatment for Duchenne muscular dystrophy. The Food and Drug Administration is expected to make a decision whether to approve SRP-9001 by May 29. Sarepta's stock has gained 27.2% so far this year, while the S&P 500 has declined 15.5%.
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Shares of Taboola.com Ltd. skyrocketed 53.3% to pace all premarket gainers Monday, after the provider of recommendations for online editorial content and advertisements announced an exclusive 30-year commercial agreement with Yahoo. As part of the agreement, Taboola will power native advertising across all Yahoo digital properties, which is expected to drive more than 800 billion impressions, and Yahoo will receive 24.99% of Taboola's outstanding shares, which would make Yahoo the company's largest shareholder, according to FactSet data. Читать дальше...
The entire 2022 rise in the price of crude oil has now been erased
Shares of Axsome Therapeutics Inc. jumped 15.5% in premarket trading on Monday after the company said its Alzheimer's treatment candidate met the primary and secondary endpoints in a Phase 3 clinical trial, meaning it delayed the time to relapse and prevented agitation among patients. The therapy, AXS-05, was tested in a double-blind, placebo-controlled, randomized study that enrolled 178 patients. There are no approved treatments for agitation caused by Alzheimer's. Axsome's stock has soared 50.4% this year... Читать дальше...
Shares of First Solar Inc. slumped 2.4% in premarket trading Monday, to pullback from a 13-year closing high in the previous session, after J.P. Morgan downgraded the solar power systems company on valuation concerns. The stock has skyrocketed 96.7% year to date to close Friday at the highest level since July 2009, boosted by the announcement of the U.S. Inflation Reduction Act, which includes tax breaks for rooftop solar installations. In comparison, the S&P 500 has dropped 15.5% this year. Читать дальше...
Shares of Nabriva Therapeutics Plc were up 13.8% in premarket trading on Monday after the company said in a news release it had positive data from a Phase 1 clinical trial assessing its antibiotic as a treatment for cystic fibrosis. The drug, Xenleta, is approved to treat community-acquired bacterial pneumonia. Nabriva plans to share more details from the open-label CF study in the first half of next year. The company's stock has tumbled 85.5% this year, while the broader S&P 500 is down... Читать дальше...
Shares of Progyny Inc. gained 0.4% in premarket trading Monday, after the fertility benefits management company raised is fourth-quarter financial outlook, given the surprising resumption of deliveries fertility drug Menopur. The company raised its guidance ranges for fourth-quarter earnings per share to 2 cents to 3 cents from a per-share loss of 1 cents to EPS of 2 cents, and for revenue to $208.9 million to $213.9 million from $202.4 million to $212.4 million. The new guidance ranges are above... Читать дальше...
MarketWatch hosts St. Louis Fed President Bullard for Q&A at noon — sign up now
Our call of the day, which says it's time to short long bonds because of sticky food inflation --- thanks to China.
Oil futures fall sharply Monday, wiping out the year's gain for the U.S. benchmark, as China protests stoke demand worries.
‘Best New Ideas’ podcast: Would more immigration mean more U.S. innovation?
D.A. Davidson named E.l.f. Beauty Inc. stock as its best holiday idea in health & beauty/leisure on Monday and home-improvement retailer Lowe's as best idea in retailing broadlines & hardlines in an upbeat note predicting solid holiday sales growth this year. Reports suggest Black Friday weekend sales were up solidly versus last year, while Mastercard's SpendingPulse said spending rose 12% on a relatively even split between in-store and online, analysts led by Linda Bolton Weiser wrote in a note. Читать дальше...
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MarketWatch Live: Stock futures dip as China unrest sparks global growth concern
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