Markets
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First Republic asset sales would pose ‘contained damage’ to residential mortgage bond market, says Goldman
Any rescue plan of First Republic Bank that includes sales of its government backed residential mortgage bonds would likely result in “contained damage,” according to Goldman Sachs. First Republic FRC has returned to the spotlight in recent days as reports of a potential rescue effort of the bank emerged, including a Bloomberg report of a…
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Gold futures end just below $2,000, with modest gains for the week and month
Gold futures ended just below the $2,000 an ounce mark on Friday, gaining a few cents for the session to end higher for the week and the month of April. Investors continued to assess the outlook for the economy, the Federal Reserve’s next moves in interest rates, and developments in the banking sector. Price action…
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Ares debuts second SPAC IPO in uncertain times but raises less capital than the first
Ares Management Corp.’s second blank-check stock offering added $50 million in stock to bring its total proceeds to $500 million for a successful debut, in a sign of healthy demand in the face of a choppy market. Ares Acquisition Corp. II AACT.UT debuted April 21 at $10 a share as the largest special purpose acquisition…
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SPOT Stock Price | Spotify Technology S.A. Stock Quote (U.S.: NYSE)
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Meta Platforms stock rallies on results, Southwest and Caterpillar shares fall, other stocks on the move
Here were some of the biggest stock movers on Thursday. Gainers: Shares of Meta Platforms Inc. META were trading up more than 14% in afternoon trading after the social media giant posted better-than-expected first quarter earnings and revenue. Amazon.com Inc.’s stock AMZN climbed nearly 5% ahead of the ecommerce and… Source
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Office building credit crunch could hit wider U.S. economy, former Deutsche Bank property lender says
Toby Cobb has been in the catbird seat of the commercial real-estate market for decades, holding the reins on who gets loans during boom years, and the cards when things go bust. Cobb was Deutsche Bank’s co-head of U.S. commercial real estate in the run up to the global financial crisis of 2008. In its…
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‘Sell’ signals are flashing across the stock market now. But bulls still have one chance.
The stock market, as measured by the S&P 500 Index SPX, has struggled to maintain the rally that began in mid-March, and now we are getting new sell signals from some of our internal indicators. SPX was turned back by resistance near 4200 for the third time since last August. That is an extremely strong…
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DHR Stock Price | Danaher Corp. Stock Quote (U.S.: NYSE)
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Eli Lilly’s next-generation obesity drug helped patients lose up to 34 pounds in clinical trial
Eli Lilly on Thursday released new data showing strong results for a widely anticipated obesity treatment. Adults with obesity or overweight and type 2 diabetes who took tirzepatide during a late-stage clinical trial lost up to 15.7% of their body weight, or about 34.4 pounds, Lilly LLY, +3.74% said. More than 80% of people taking…
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EA’s stock catches downgrade as blocked Microsoft deal for Activision eliminates ‘takeout premium’
The blocking of Microsoft Corp.’s acquisition of Activision Blizzard Inc. by U.K. regulators has thrown cold water on any potential large deals in the videogame space, prompting one analyst to downgrade shares of Electronic Arts Inc. In a Thursday note, BMO Capital Markets analyst Gerrick Johnson downgraded EA EA to market perform from outperform and…