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Wall Street rallies, snaps longest weekly losing streak in decades
By Stephen Culp NEW YORK (Reuters) - Wall Street closed sharply higher on Friday as signs of peaking inflation and consumer resiliency sent investors into the long holiday weekend with growing optimism that... More
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- Ulta Beauty (ULTA) Stock Rises After Smashing Consensus and Hiking Outlook, Jefferies Upgrades to Buy
- Not so Big: Big Lots (BIG) Tumbles as Sales Miss Estimates, Analyst Says COVID-19 Helped Company to Over-earn
- Summer Rally Bandwagon is Growing, Most Investors Expecting Bear Market Rally to Play the 'Jackson Hole Pivot' - Bank of America
- Tesla's (TSLA) Freemont Factory 'Roaring' - Chowdhry
- Gap (GPS) Stock Crashes 20% on Trimmed Outlook, Morgan Stanley Downgrades to Underweight 6 Weeks After Upgrading to EW
- White House says no decision made on student loan forgiveness
- Workday (WDAY) Stock Plunges After EPS Miss, Goldman Sachs Sees a 'Great Buying Opportunity'
- Analysts Remain Bullish on Deere (DE) Following Analyst Day
- Amazon (AMZN): Unit Economics Recovery Could Double the Stock in 2024 - Loop Capital
- Oil settles up ahead of U.S. driving season, EU embargo decision
- Zscaler (ZS) Shares Gain After 'Very Good' Results
- Marvell (MRVL) Shares Soar on Earnings Beat but Analyst Warns Durability Concerns Seem Unlikely to Fade
- Reckitt Benckiser (RGBLY) Moving Ahead with Potential $7B Sale of Infant-Formula Business - WSJ
- Dollar slides for second week as traders adjust Fed rate hike views
- Relax Powell, Costco Isn't Raising the Price of its Hotdog Combo
- Coinbase (COIN) Co-Founder Ehrsam Buys Another $1.8M in Stock
- Nio (NIO) Job Postings Suggest Plans for US Expansion
- Autodesk Reports Q1 Beat, Provides Outlook
- U.S. equity funds pull first weekly inflow in seven weeks
- Roblox Corp. (RBLX) Bookings Rise but Costs Rise Faster, Morgan Stanley Sees Bear Case of $15
- After-Hours Stock Movers 05/26: Ulta, Dell Jump on Earnings; Gap, American Eagle Sink (more...)
- Broadcom (AVGO) to Acquire VMware (VMW) for Approximately $61 Billion in Cash and Stock
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'Always Bet on Michael': Dell (DELL) Stock Soars After Crushing Estimates, Analysts Say Results are Impressive
Shares of Dell Technologies (NYSE: DELL) are up more than 12% in premarket trading Friday after the company reported better-than-expected Q1 adjusted EPS and revenue.The technology company... More
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Credit Suisse Says Tesla (TSLA) Stock Offers an Attractive Entry Point, Sees Nearly 60% Upside From Here
Credit Suisse analyst Dan Levy has reiterated an Outperform rating on Tesla (NASDAQ: TSLA) following the recent pullback in shares.The analysts $1,125.00 per share price target implies... More
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Citi Downgrades US Equities to Neutral on Recession Risk
Citi strategists led by Dirk Willer downgraded U.S equities to neutral, citing recession risks.The move comes after several banks and investment management firms recently warned of an economic slowdown as the... More
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Elon Musk Says Recession Could Last 12 to 18 Months, But 'Actually a Good Thing'
Tesla (NASDAQ: TSLA) CEO Elon Musk stated late Thursday that we're approaching a recession, "but it is actually a good thing."In a Twitter... More
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Pre-Open Stock Movers 05/27: Dell, Ulta Surge on Earnings Beats; Gap Plunges (more...)
Pre-Open Stock Movers:Iovance Biotherapeutics, Inc. (NASDAQ: IOVA) 47% LOWER; reported clinical results from its C-144-01 clinical study in... More
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Rivian Shares Gain on Shake-Up at the Top; New COO and Organizational Shifts
Electric vehicle maker Rivian (NASDAQ: RIVN) saw steady gains Friday following reports that the company decided to shake things up at the top.It was confirmed in... More
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'Keep Calm and Carry On': Costco (COST) Shares Dip After Earnings, Analysts Remain Bullish
Costco (NASDAQ: COST) shares are down 2% in pre-market despite the company reporting a better-than-expected Q3 EPS and comparable sales growth, driving up its shares in extended trading... More
Sunday, May 29, 2022 5:36 AM EDT
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Latest StreetInsider Headlines
- 04:53 AM
- 03:57 AM
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- 03:00 AM
- 02:53 AM Resecurity® Debuts Cyber Threat Intelligence Solutions at MILIPOL Qatar 2022 Before the Upcoming FIFA World Cup
- 02:37 AM Resecurity Brings AI-powered Cyber Threat Intelligence to Singapore
- 01:42 AM IFALPA Conference Statement: Global Pilots on Deteriorating Labour Conditions in Paraguay
- 01:32 AM IFALPA Conference Statement: Global Pilots on Deteriorating Labour Conditions in the Asian Region
- May 28, 2022 National Champions in 45 Skill Areas Medaled at the 2022 Skills Canada National Competition
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13Fs
- Dan Loeb's Third Point Exits Disney (DIS) Position
- Here's Which 3 Tech Stocks Hedge Funds Were Selling the Most in Q1
- Buffett's Berkshire Hathaway Enters 8 New Stocks, Including Citi and Paramount Global; Adds to Apple and Chevron
Accesswire
- Intellipharmaceutics Reports Director Election Results
- Canex Closes C$2.5 Million Equity Financing And Welcomes Strategic Investor Michael Gentile, CFA
- S&P Global Ratings Upgrades Ranger Oil
Analyst Comments
- Jack In The Box (JACK) PT Lowered to $80 at Stifel
- Toronto-Dominion Bank (TD:CN) (TD) PT Raised to Cdn$97 at Stifel Canada
- Torex Gold Resources (TXG:CN) (TORXF) PT Raised to Cdn$25.50 at Stifel Canada
Analyst PT Change
- Jack In The Box (JACK) PT Lowered to $80 at Stifel
- Toronto-Dominion Bank (TD:CN) (TD) PT Raised to Cdn$97 at Stifel Canada
- Torex Gold Resources (TXG:CN) (TORXF) PT Raised to Cdn$25.50 at Stifel Canada
Board Changes
- UTime Limited (UTME) Appoints Weiyuan Wang to its Board
- Clover Health Investments (CLOV) Announces Resignation of Nathaniel S. Turner from Board
- Proxy advisory firms ISS, Glass Lewis back Hasbro in proxy fight
Business Wire
- Eros Receives NYSE Extension for Annual Report Filing
- IFALPA Conference Statement: Global Pilots on Deteriorating Labour Conditions in the Asian Region
- Record Date Set to June 3, 2022 for TETAA Rights Offering
Commodities
- Oil edging higher supported by the prospect of a tight market
- Oil futures add to gains, up $4 per barrel
- Natural Gas Inventory +80 bcf vs +89 bcf Expected
Corporate News
- Molecular Data (MKD) Receives NASDAQ Notification Regarding Minimum Bid Requirements
- Bristol-Myers Squibb (BMY) Announces FDA Approval of Two Opdivo-Based Regimens as First-Line Treatments for Unresectable Advanced or Metastatic Esophageal Squamous Cell Carcinoma
- Allarity Therapeutics (ALLR) Reports Q1 Net Loss of $3.1M, Cash Position of $14.5M
Cryptocurrency
- Tesla (TSLA) merch can be bought with Doge, soon SpaceX merch too - Elon Musk
- JPMorgan Says Crypto Winter Likely Won't Materialize, Sees 30% Upside Potential in Bitcoin (BTC) Price
- TerraUSD developers vote to create new blockchain without failed stablecoin
Dividends
- Quanta Services (PWR) Declares $0.07 Quarterly Dividend; 0.2% Yield
- Lincoln National (LNC) Declares $0.45 Quarterly Dividend; 3.1% Yield
- Northrim BanCorp (NRIM) Declares $0.41 Quarterly Dividend; 3.9% Yield
Downgrades
- Benchmark Downgrades Canopy Growth (WEED:CN) (CGC) to Sell
- Morgan Stanley Downgrades Times China Holdings ltd. (1233:HK) (TMPPF) to Underweight
- OTR Global Downgrades NetApp (NTAP) to Mixed
Earnings
- Allarity Therapeutics (ALLR) Reports Q1 Net Loss of $3.1M, Cash Position of $14.5M
- Not so Big: Big Lots (BIG) Tumbles as Sales Miss Estimates, Analyst Says COVID-19 Helped Company to Over-earn
- Genius Group (GNS) Reports 2021 Results and 2022 Guidance
Economic Data
- U of M Sentiment (May F) 58.4 vs 59.1 Expected
- PCE Deflator (Apr MoM) 0.2% vs 0.2%; PCE Core Deflator (MoM) 0.3% vs 0.3%
- Personal Income (Apr) 0.4% vs 0.5% Expected, Spending 0.9% vs 0.8%
Equity Offerings
- Vallon Pharmaceuticals Inc. (VLON) Announces 3.7M Share Offering by Selling Stockholders
- Olympic Steel (ZEUS) Files $200M Mixed Shelf
- Rain Therapeutics (RAIN) Files Mixed Shelf Registration Statement
FDA
- Bristol-Myers Squibb (BMY) Announces FDA Approval of Two Opdivo-Based Regimens as First-Line Treatments for Unresectable Advanced or Metastatic Esophageal Squamous Cell Carcinoma
- Inovio Pharma (INO) Announces Survival Results for INO-5401 + INO-9012 in Combination with Libtayo in Patients with Newly Diagnosed GBM at ASCO Annual Meeting 2022
- SpringWorks (SWTX) Highlights Nirogacestat Clinical Data at the 2022 ASCO Annual Meeting (earlier)
Fed
- Cooling U.S. inflation builds case for September slowdown in Fed rate hikes
- Fed may pause policy tightening in September, BofA says
- Kyle Bass Says Fed Will Need to Cut in 2023 Due to Likely Recession
Globe Newswire
- National Champions in 45 Skill Areas Medaled at the 2022 Skills Canada National Competition
- Blender Bites Announces Reorder of Award-Winning Smoothie Innovation by Canada’s Eastern Region of the World’s Largest Club Store Chain
- The MUHC Foundation’s Le Bal Rouge raises $2 million for research into infection and immunity
Guidance
- Not so Big: Big Lots (BIG) Tumbles as Sales Miss Estimates, Analyst Says COVID-19 Helped Company to Over-earn
- Genius Group (GNS) Reports 2021 Results and 2022 Guidance
- PDC Energy (PDCE) Announces its Updated 2022 Guidance and Multi-Year Outlook
Hedge Funds
- Kraft Heinz (KHC) Receives Notice of Partial Stock Distribution by 3G Capital
- UPDATE: Kyle Bass: We are Going to Have a Recession, Albeit Shallow
- 'Big Short' Burry Says Market is 'Like Watching a Plane Crash'
Insiders' Blog
- 7 Things to Know About Allbirds' (BIRD) Upcoming $2 Billion IPO
- HireRight (HRT) IPO: 9 Things to Know About the Upcoming Offering
- Udemy (UDMY) IPO: 7 Things to Know About Upcoming $4 Billion IPO
IPOs
- Grandview Capital Acquisition Corp (GDVWU) Announces 30M Unit IPO at $10/unit
- Mars Acquisition Corp (MARXU) Announces 7.5M Unit IPO at $10/unit
- Biotech Group Acquisition Corporation (BGACU) Announces Downsized IPO Plans of 7.5M Units at $10/unit
Market Check
- S&P 500 Extends Gain, Now Up 2.25%, Nasdaq Up 3.1%
- S&P 500 Extends Gain, Up 1.9%, Nasdaq Up 2.8%
- S&P 500 Pares Gain, Still Up 1.3%, Nasdaq Up 1.85%
Mcap MediaWire
- AmpliTech Group, Inc. Announces Closing of Underwriters’ Option to Purchase Additional Shares of Common Stock in Connection with its Underwritten Public Offering
- Top Minds Back Bitcoin for a Fresh Leg (NASDAQ: BTBT) (NASDAQ: MSTR) (OTC US: ISWH) (NASDAQ: OSTK)
- How to Play the Crypto Shakeout (NYSE: SQ) (NASDAQ: OSTK) (OTC US: ISWH) (NASDAQ: BTBT)
Mergers and Acquisitions
- Electronic Arts (EA) Ticks Lower on Cautious Deal Chatter
- Kohl's (KSS) Ticks Lower as Another Bidder Losing Interest
- Brookfield (BAM), Cellnex Said To Eye Bid For Deutsche Telekom Towers - Bloomberg
New Coverage
- UPDATE: Cantor Fitzgerald Assumes Aziyo Biologics Inc. (AZYO) at Overweight, PT Lowered to $12
- Credit Suisse Starts The Lottery Corporation (TLC:AU) at Neutral
- UPDATE: Cowen Starts Rigetti Computing Inc. (RGTI) at Outperform
Newsfile
- Educational Development Corporation Announces 2022 Annual Meeting of Shareholders and Record Date
- PreveCeutical Announces Change in Directors and Investor Awareness Services
- PharmaDrug Announces Closing of the First Tranche of Non-Brokered Private Placement
Press Releases
- Eros Receives NYSE Extension for Annual Report Filing
- CAMILA CABELLO DELIVERS SHOW-STOPPING CARNIVAL SPECTACULAR AT THE UEFA CHAMPIONS LEAGUE FINAL OPENING CEREMONY PRESENTED BY PEPSI®
- Resecurity® Debuts Cyber Threat Intelligence Solutions at MILIPOL Qatar 2022 Before the Upcoming FIFA World Cup
Private Company News
- SpaceX Said in Talks to Raise Fresh Funds at $125B - Bloomberg
- Elon Musk's SpaceX Now Valued at $125 Billion - Report
- Elon Musk's Boring Company Raises $675 Million at $5.675 Billion Valuation
PRNewswire
- CAMILA CABELLO DELIVERS SHOW-STOPPING CARNIVAL SPECTACULAR AT THE UEFA CHAMPIONS LEAGUE FINAL OPENING CEREMONY PRESENTED BY PEPSI®
- Resecurity® Debuts Cyber Threat Intelligence Solutions at MILIPOL Qatar 2022 Before the Upcoming FIFA World Cup
- Resecurity Brings AI-powered Cyber Threat Intelligence to Singapore
Reuters
- Speculators cut net long U.S. dollar bets
- Transport Canada probing cause of Tesla fire in Vancouver
- Stock rally fanned by hopes of Fed 'past peak hawkishness'
SEC Filings
- Form 3 LDH Growth Corp I For: May 18 Filed by: Fortmuller Alexander
- Form 3 LDH Growth Corp I For: May 18 Filed by: Clavel Alex
- Form 4 TANDEM DIABETES CARE For: May 25 Filed by: Sheridan John F
SPAC
- American Express Global Business Travel Becomes Publicly Traded Company, Ticker "GBTG"
- United Gear & Assembly to Go Public Via Merger with Aesther Healthcare Acquisition (AEHA)
- Aesther Healthcare Acquisition Corp. (AEHA) and United Gear & Assembly Announce Definitive Merger Agreement
Upgrades
- Baird Upgrades Boot Barn (BOOT) to Outperform
- UPDATE: Jefferies Upgrades ULTA Salon (ULTA) to Buy
- Ulta Beauty (ULTA) Stock Rises After Smashing Consensus and Hiking Outlook, Jefferies Upgrades to Buy
