Following a disappointing Treasury auction for investors and Fed Chair Jerome Powell’s hawkish-toned speech on inflation, Wall Street equities fell on Thursday as bond yields climbed. The S&P 500 ended its eight-day winning streak due to rising bond yields and negative commentary from Federal Reserve Chair Jerome Powell.
The Department of Justice stated on Thursday that Apple would pay $25 million in restitution and civil penalties to resolve an investigation into the company’s compliance with the Immigration and Nationality Act over its hiring practices.
Israel has agreed to halt hostilities for four hours a day to allow for humanitarian aid. White House officials said Thursday that Israel had begun announcing four-hour lulls in its attack on Hamas in northern Gaza, with at least three hours’ notice given to civilians.
Biden backs unionization initiatives at Tesla and Toyota. President Biden has expressed his support for a unionization drive at General Motors and Ford in the wake of the historic contracts reached between the United Auto Workers and the Big Three automakers.
G/O Media, the parent company of Jezebel, said Thursday that it will be suspending operations and laying off personnel immediately as part of a broader restructuring of its portfolio of digital news properties.
Familiar video chatting platform The end of Omegle. After more than 14 years, the website that facilitated communication between total strangers has shut down due to widespread abuse. It was created in 2009 by a high school senior and programmer who used his own money to get the company off the ground.
During the earnings call this morning, Sphere Entertainment Co. revealed a $98.4 million operating loss at The Sphere in Las Vegas for the fiscal quarter ending September 30. A Securities and Exchange Commission statement also confirmed that the company had lost its chief financial officer, Gautam Ranji.
Vince McMahon, WWE’s creator and the CEO of Endeavour, is selling a significant portion of his stake in TKO Group. McMahon has filed with the SEC to sell 8.4 million shares in TKO, which has a market value of little over $700 million as of market close on Thursday.
Plug Power (PLUG) shares were among the most actively traded prior to market open, dropping roughly 36%. The quarterly loss for the hydrogen fuel cell manufacturer was worse than projected, and the company blamed “unprecedented supply challenges” for the poor performance.
In the hours before the market opened, shares of Blink Charging (BLNK) rose by more than 13% after the provider of charging stations for electric vehicles reported a quarterly loss that was less than expected. Adjusted EBITDA break-even is planned for 2024, and the company has increased its full-year revenue guidance.
After BlackRock made preliminary moves toward applying for a spot ether ETF on Thursday, the price of ether soared, breaking the $2,000 barrier for the first time since April.
Meta doesn’t want you to leave its wildly successful mobile apps to make that on-the-spot Amazon buy. The new function allows customers to shop on Amazon after clicking through social media sites like Facebook and Instagram.
US nonfarm payrolls and the unemployment rate on Friday. Expected earnings from Tyson Foods
Stocks to watch with positive momentum and Buy Rating:
Chase Bank (JPM), Microsoft (MSFT), GOOGL, Apple (AAPL), Pay Pal (PYPL), Walmart (WMT), Amazon (AMZN), Groupon (GRPN), Carnival Corporation (CCL), PepsiCo (PEP), Wells Fargo (WFC), Johnson & Johnson (JNJ), Philip Morris International (PM)SNAP INC (SNAP), Exxon Mobil (XOM), Chevron (CVX), EBAY
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CWEB News Summarized Breaking, Business and Financial Newsletter for November 9, 2023
