Investing
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Virgin Galactic stock tumbles, while CarMax and Conformis climb and other stocks on the move
Here are some of the biggest movers of the day ahead of Friday’s market open: Stock gainers: CarMax Inc. stock KMX, +10.07% is rallying 9.1% toward a nine-month high after the used car seller reported adjusted first-quarter profit of $1.16 a share, well above the FactSet consensus of 79 cents. Total sales dropped 17.4% to $7.69…
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Tech companies scaled back DEI teams last year amid ‘worrying’ backlash, report says
The tech industry saw a rollback in wage equity last year, while also shrinking its diversity, equity and inclusion teams, a new report shows. The recruiting platform Hired said this week that wage gaps widened in 2022 for women and men of all racial and ethnic groups except white and Asian women, though there was…
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U.S. stocks fall to cap off worst week since March
U.S. stocks fell Friday with the S&P 500 index on track for its worst week since the collapse of Silicon Valley Bank in March, suggesting the three month rally may be coming to an end. Meanwhile, investors sought safety in bonds and the U.S. dollar as a wave of interest-rate hikes and hawkish commentary from…
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Bad news for aspiring home buyers: One type of mortgage is becoming increasingly rare
Buying a cheap house, or one that’s $150,000 or less, may seem like an attractive idea for many renters who are seeing home prices spiral out of control. But finding financing to pay for that home can be a tall task. Mortgages to purchase homes under $150,000 have become “increasingly rare,” according to a new…
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Investors are still evaluating ‘one-of-a-kind’ Virgin Galactic, says space consulting firm Caelus Partners
Virgin Galactic Holdings Inc.’s stock pulled back 5.6% Wednesday, with the shares looking set to snap their recent rally. The space company’s stock ended Tuesday’s session up 27.1%, fueled by plans announced last week for Virgin Galactic’s SPCE, -6.83% first commercial flight. Micah Walter-Range, president of space consulting firm Caelus Partners and a contributor to the S-Network…
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A Microsoft in the making? Oracle’s cloud momentum is giving one analyst flashbacks.
With its $330 billion-plus valuation, Oracle Corp. is hardly small. But might it be a “mini Microsoft?” Bernstein analyst Mark Moerdler is kicking that idea around, writing in a note to clients Wednesday that Oracle’s ORCL, -1.24% transition to the cloud harks back to when Microsoft Corp. MSFT, +1.84% went through a similar journey nearly…
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Tesla, Anheuser-Busch, Logitech shares rise, while AMC, iRobot, Virgin Galactic shares fall, and other stocks on the move
Here are some of the bigger stock movers Thursday: Stock gainers: Tesla Inc. TSLA shares climbed 1.5%, reversing an earlier intraday loss of as much as 4.3%. The initial selloff followed a downgrade to equal weight from overweight at Morgan Stanley, which cited concerns over valuation and the expectation that the electric-vehicle giant will keep…
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‘Take-under’ deal for Silicon Valley Bank fuels $9.5 billion profit for First Citizens Bancshares
The $9.5 billion profit posted by First Citizens Bancshares Inc. from a one-time gain on its acquisition of Silicon Valley Bank stands out as the second-largest profit among all banks in the second quarter and is much higher than in any previous quarter for the company. In an eventful period for the sector that saw…
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Why Intel was the Dow’s worst performer for a second day in a row
Intel Corp.’s stock fell for a second consecutive session Wednesday, and was again the worst performer in the Dow Jones Industrial Average, after the chip maker laid out plans to compete against third-party fab giant Taiwan Semiconductor Manufacturing Co. Intel’s INTC, -0.58% shares, which had been down about 2% before a late-morning event with Wall…
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Tesla’s stock suffers deepest loss in two months
Shares of Tesla Inc. ended more than 5% lower Wednesday in the wake of a downgrade by Barclays. The electric-vehicle maker’s TSLA, +1.98% stock notched its worst one-day percentage drop since April 20, when it fell 9.75%. Earlier Wednesday, analyst Dan Levy at Barclays said that for all that Tesla has been a momentum stock…