Investor group hikes Macy’s takeover offer to $6.6 bln Mar 3, 2024 06:40PM An investor group consisting of Arkhouse Management and Brigade Capital hiked its offer to take department store chain Macy’s Inc (NYSE: M) private on late-Sunday, just months after the firm rejected an earlier offer.

The group is now offering $24 in cash per Macy’s share, up from its earlier offer of $21 per share, it said in a press release on late-Sunday. The offer is a 33% premium to Macy’s close on Friday, and values the chain at about $6.6... (continue reading...)

Midday movers: Dell, NetApp rise; Boeing falls Mar 1, 2024 11:09AM (Updated - March 1, 2024 11:09 AM EST) -- Main U.S. indexes edged higher Friday, starting the new month off on a positive note after strong gains in February.

Here are some of the biggest U.S. stock movers today:

Dell (NYSE: DELL) stock jumped 26% after the tech giant reported fourth-quarter results that topped Wall Street as solid demand for its artificial intelligence-optimized servers offset weakness in personal computing.

Apple (NASDAQ: AAPL) stock... (continue reading...)

Crude oil could break out of recent range - BofA Mar 1, 2024 09:03AM - Crude oil prices have risen Friday, but remain trapped in a tight trading range as price volatility has fallen to pre-Covid lows. Technical analysis suggests an upside breakout is a possibility, according to Bank of America Securities.

Goldman Sachs, in a recent note, said it expects the $70-$90 a barrel range to continue for the foreseeable future, citing a modest geopolitical risk premium, the OPEC put limiting downside risk, and robust non-OPEC supply... (continue reading...)

Bank of America analysts raise Eli Lilly price target amid obesity drug optimism Mar 1, 2024 09:03AM -- Analysts at Bank of America Securities have lifted their price target for Eli Lilly (NYSE: LLY), citing the potential of the U.S. pharmaceutical giant's weight-loss drugs and its pipeline of treatments for other ailments.

Lilly is in a race with Danish rival Novo Nordisk (CSE:NOVOb) to serve a market for so-called GLP-1 agonists, a class of obesity drugs, which some analysts believe could reach a value of $100 billion annually.

Earlier this week,... (continue reading...)

NYCB shares slump after lender flags "material weakness" in internal controls Mar 1, 2024 07:41AM -- Shares in New York Community Bancorp (NYSE: NYCB) tumbled in premarket U.S. trading on Friday after the embattled regional lender said it had found "material weaknesses" in company controls related to an internal loan review.

In a regulatory filing on Thursday, NYCB said that although it was conducting an ongoing investigation, it expects to disclose in its annual report that controls over its financial reporting "were not effective" as of the end of... (continue reading...)

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