Investing.com -- Reddit shares rose more than 8.8% in after-hours trading Thursday following S&P Dow Jones Indices' announcement that the company will be added to the S&P 500 index.
The social media platform will enter the benchmark index before the market opens on Aug. 18. Reddit will take the place of AvalonBay Communities, which Equity Residential is acquiring.
S&P Dow Jones Indices also announced that Sun Communities will join the S&P MidCap 400 before trading begins on Aug. 20.
Investing.com - Northrop Grumman Corp. (NYSE: NOC) received a $158.8 million contract modification from the U.S. Department of War, the agency announced today.
The modification, valued at $158,831,128, was awarded under contract W58RGZ-26-C-0009 for the definitization of the contract. The work will be performed at the company's Rolling Meadows, Illinois facility.
The contract carries an estimated completion date of Aug. 13, 2026. Fiscal 2026 revolving funds in the amount... (continue reading...)
Investing.com -- Fitch Ratings affirmed the United States' long-term foreign and local currency issuer default ratings at AA+ with a stable outlook.
The rating agency cited the country's large economy, high per-capita income, dynamic business environment, and the U.S. dollar's role as the leading global reserve currency as key supporting factors. The dollar maintains a 58% share in global reserves and accounts for 89% of all over-the-counter operations. Foreign ownership... (continue reading...)
Investing.com -- Applied Materials reported record third-quarter revenue on Thursday as surging demand for AI-related semiconductors drove strong growth across its chipmaking equipment business, while the company raised its expectations for semiconductor systems revenue for calendar 2026.
The chip equipment maker posted revenue of $9.12 billion for the quarter ended July 26, up 25% from a year earlier. GAAP net income rose 43% to $2.54 billion, while adjusted earnings... (continue reading...)
Investing.com -- Tether announced Thursday that it has received its first full independent audit of its financial statements from KPMG US. The El Salvador-based stablecoin issuer did not release the audit publicly.
KPMG US issued an "unqualified audit opinion," meaning the statements "present fairly, in all material respects, the financial position," and that "the results of operations and cash flows for the period were accordance with US generally accepted accounting... (continue reading...)
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