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WPX Energy stock rose 13% after U.S. shale producer Devon Energy, up 13%, said on Monday it would buy its peer in an all-stock deal that would create a combined company worth around $12 billion. HSBC ADRs rose 9.9% after Chinese insurer Ping An raised its stake in Europe’s biggest bank to 8% from 7.95%Read More
The Los Angeles-based maker of Exploding Kittens and Throw Burrito board games ordered 1 million extra units from its factory in China with the hope of preventing coronavirus from ruining its Christmas sales. The move from the company, which sells product through Target, Walmart, and Amazon.com, comes as U.S. suppliers and retailers have been rebuilding depletedRead More
The US dollar rallied again overnight, notably outperforming pro-cyclical currencies as investors appear to move aggressively into US dollar cash and selling down position in every other asset class. The dollar index broke through monthly resistance at 94.00 overnight, rising 0.40% to 94.34. The strong risk-off nature of the US dollar rally overnight implies furtherRead More
Nike stock soared 12% after the sports footwear retailer reported very strong numbers in the first quarter after the close Tuesday. Flat sales after a drop of 38% were particularly impressive, with the brand’s digital sales surging 82%, although margins were flattered by a lack of spending on marketing around major sports events. Deutsche Bank hasRead More
The S&P 500 and Nasdaq indexes were set to open higher on Tuesday, with beaten-down shares of technology-related companies leading early gains, while Dow futures were subdued on uncertainty over more U.S. fiscal stimulus. All three of Wall Street’s main indexes started the week on the back foot as fears about a new round of lockdowns inRead More
Nikola stock fell 26% after the company’s founder Trevor Milton stepped down as executive chairman as it battles allegations from a short-seller that it misled investors and automakers. General Motors fell 4.2%, falling in conjunction with Nikola as GM took an 11% stake in the electric-truck maker around two weeks ago. Oracle stock rose 2.8%Read More