Articles by Emon Reiser
Amkor Stock Rises on Taiwan Semiconductor Partnership
By Emon Reiser Shares for Amkor Technology were trading higher after the company said it has signed a decade-long partnership that it says accelerates the U.S. semiconductor supply chain. Shares rose 6.7% to $91.19 in midday Tuesday trading. The stock has more than doubled in value year to date. Amkor said the deal with chipmaker Taiwan Semiconductor Manufacturing Co. establishes a collaboration framework, wherein TSMC will procure packaging and testing services from Amkor.
Core Scientific Shares Rise on AI Data Center Expansion Plan
Core Scientific Shares Rise on AI Data Center Expansion Plan CORZ Shares of Core Scientific were on the rise after the data center builder said it will expand its operations in Muskogee, Okla., with a $421 million acquisition. The stock rose 10.7%, to $24.56 in Wednesday trading. Shares are up 53.6% year to date. Core Scientific said it inked a deal to buy bitcoin miner Polaris DS LLC with the goal of reaching 1.5 gigawatts of gross power, or 1 gigawatt of leasable power, at its Muskogee campus.
Raytheon Gets $8.4 Billion Increase to Missile Defense Contract
Raytheon Gets $8.4 Billion Increase to Missile Defense Contract RTX The Defense Department's Missile Defense Agency is boosting the dollar amount on a contract previously awarded to RTX-unit Raytheon for a defensive weapon used by the Navy. Raytheon is being awarded a noncompetitive ceiling increase of $8.41 billion, raising the value of the contract to $11.74 billion.
Caterpillar CEO elected executive chairman, predecessor to retire
Caterpillar Chief Executive Officer Joe Creed has been elected executive chairman, succeeding D. James Umpleby III who will retire effective April 1.Creed, who joined the company in 1997, was appointed CEO last year. He previously held numerous leadership roles at the Caterpillar, including chief operating officer and group president of energy and transportation.Outgoing executive chairman Umpleby served as the companys CEO from 2017 until 2025.
Abeona Therapeutics Shares Soar on Higher Demand for Zevaskyn
Abeona Therapeutics Shares Soar on Higher Demand for Zevaskyn ABEO Shares of Abeona Therapeutics were on the rise after the biotechnology company narrowed its quarterly loss and reported an uptick in patient demand for Zevaskyn, its gene therapy for wound treatment. The stock soared 22% to $5.12 a share in midday trading. Despite the intraday gains, shares remain down 9% year to date.
TeraWulf Stock Soars with Google-Backed Joint Venture
TeraWulf Stock Soars with Google-Backed Joint Venture GOOG WULF Shares for TeraWulf surged after the data center infrastructure company announced a Google-backed joint venture with a lease agreement valued at $9.5 billion, and reported preliminary results for the third quarter. The stock soared 22% to $16.62 in midday Tuesday trading, on track for its highest close since December 2021. Shares are up 47% month to date and have nearly tripled year to date.
Grail Stock Rises With Funding From Samsung to Bring Cancer Detection Test to Asia
Grail Stock Rises With Funding From Samsung to Bring Cancer Detection Test to Asia Shares for Grail climbed after the biotechnology company said Samsung would invest $110 million to expand its multi-cancer early detection test in Asia. The stock rose 11%, to $83.85, in midday Thursday trading, putting it on pace for a new 52-week high.
Grail Stock Rises With Funding From Samsung to Bring Cancer Detection Test to Asia
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Salesforce Teams Up With Stripe, OpenAI on Instant Checkout
Salesforce Teams Up With Stripe, OpenAI on Instant Checkout CRM Salesforce is collaborating with OpenAI and financial-services company Stripe to build a way for its merchants to tap into artificial intelligence-powered shopping with a new instant-checkout tool. The cloud-software company on Tuesday said the partnership to build and integrate the feature into its Agentforce Commerce will allow for faster purchases and new growth for its customers' digital storefronts.
SEALSQ Stock Rises With 'Made-in-U.S.' Strategic Partnership
SEALSQ Stock Rises With 'Made-in-U.S.' Strategic Partnership LAES Shares of SEALSQ climbed after the Swiss semiconductor company said it has entered a strategic partnership to co-develop "Made-in-U.S." post-quantum cryptography tailored for America's defense and government agencies. The stock rose 18% to $5.15 a share in midday trading, on pace for its highest close since January. Month to date, the stock is up over 40%.
SEALSQ Stock Rises With 'Made-in-U.S.' Strategic Partnership
By Emon Reiser Shares of SEALSQ climbed after the Swiss semiconductor company said it has entered a strategic partnership to co-develop "Made-in-U.S." post-quantum cryptography tailored for America's defense and government agencies. The stock rose 18% to $5.15 a share in midday trading, on pace for its highest close since January. Month to date, the stock is up over 40%.
Google to Build Data Center in Arkansas
Google and its competitors have poured billions of dollars into data centers around the world Google said it will build a $4 billion data center on more than 1,000 acres in Arkansas, creating hundreds of operations jobs and thousands of construction jobs in the region. The project marks one of the largest-ever investments made in the region, said Gov. Sarah Huckabee Sanders. The West Memphis facility will be Google’s first facility in the state and will be powered by Entergy Arkansas.
Geo Group to Manage Florida Detention Facility in Joint Venture
Geo Group to Manage Florida Detention Facility in Joint Venture GEO Geo Group will manage a 1,310-bed detention facility in Florida as part of a joint venture agreement with another contractor. Terms of deal weren't disclosed. The private-prison operator said Thursday it secured a contract for the North Florida Detention Facility in Baker County. In August, Gov.
Texas Instruments Posts Increase in 1Q Sales, EPS
By Emon Reiser Texas Instruments reported double-digit growth in first-quarter sales and an unexpected boost to its earnings per share as the company saw growth across markets. The Dallas-based chipmaker on Wednesday reported a profit of $1.18 billion, compared with $1.11 billion a year earlier. On a per-share basis, earnings came in at $1.28 compared with $1.20 a year ago. Analysts had forecast $1.07, according to FactSet.
Walgreens to Pay More Than $300 Million in Opioid Case Settlement
Walgreens to Pay More Than $300 Million in Opioid Case Settlement WBA Walgreens Boots Alliance will pay more than $300 million as part of an agreement with the Justice Department to settle charges the pharmacy chain helped fuel the opioid crisis by knowingly filling millions of prescriptions that lacked a legitimate medical purpose.
Eaton to Buy Data-Center Builder Fibrebond For $1.4 Billion
Eaton to Buy Data-Center Builder Fibrebond For $1.4 Billion ETN Eaton said it signed an agreement to acquire modular data-center builder Fibrebond in a $1.4 billion deal. The Dublin power-management company on Tuesday said the acquisition will expand its reach into the multitenant data-center market that Fibrebond serves. Minden, La.-based Fibrebond builds power enclosures for data-center, utility, fiber and industrial clients, and it generated revenue of $378 million for the 12 months ending Feb.
Vertex Pharmaceuticals Posts Higher 4Q Revenue
Vertex Pharmaceuticals Posts Higher 4Q Revenue VRTX Vertex Pharmaceuticals posted a double-digit increase in its quarterly revenue thanks to strong sales for its cystic-fibrosis treatment. The biotechnology company on Monday reported a profit of $913 million, or $3.50 a share, for the fourth quarter, compared with $968.8 million, or $3.76 a share, in the same quarter a year earlier.
Skyworks Stock Crashes on Warning Apple Supplier Will Lose Some iPhone Business
Shares of Skyworks Solutions slid, after the Apple supplier said tougher competition for the iPhone maker's semiconductor business would cut into sales. Apple is the company's largest customer. Late Wednesday, Skyworks warned it expects its share of the business supplying Apple with radio-frequency components to fall by one-fifth to one-quarter. Skyworks stock fell more than 25% in morning trading, to $64.76.
Salesforce’s Longtime Operating Chief Millham to Retire; Washington Named Successor and Financial Chief
Salesforce CRM 1.10%increase; green up pointing triangle has appointed Robin Washington as its incoming chief operating officer and chief financial officer and announced that current Operating Chief Brian Millham would retire after more than 25 years at the business-software company. Millham, the company’s 13th employee, is expected to exit May 1. He is credited with helping the Silicon Valley cloud-computing business grow into one of the world’s most valuable companies.
Salesforce's Longtime Operating Chief Millham to Retire; Washington Named Successor and Financial Chief
Salesforce's Longtime Operating Chief Millham to Retire; Washington Named Successor and Financial Chief CRM Salesforce has appointed Robin Washington as its incoming chief operating officer and chief financial officer and announced that current Operating Chief Brian Millham would retire after more than 25 years at the business-software company. Millham, the company's 13th employee, is expected to exit May 1.
American Eagle Shares Plunge After Retailer Cuts Sales Outlook
American Eagle Outfitters AEO 3.06%increase; green up pointing triangle trimmed its sales outlook for the year on expectations for a larger-than-expected drop in sales for the holiday quarter. The Pittsburgh-based apparel retailer on Wednesday said it expects same-store sales to rise 3% for the year, down from its earlier forecast of 4%, and total revenue to be up 1%, versus a prior view of as much as 3%.
American Eagle Shares Plunge After Retailer Cuts Sales Outlook
American Eagle Outfitters AEO -13.68%decrease; red down pointing triangle trimmed its sales outlook for the year on expectations for a larger-than-expected drop in sales for the holiday quarter. The Pittsburgh-based apparel retailer on Wednesday said it expects same-store sales to rise 3% for the year, down from its earlier forecast of 4%, and total revenue to be up 1%, versus a prior view of as much as 3%.
ADP Earnings, Revenue Increase With New Business Growth in 1Q
ADP Earnings, Revenue Increase With New Business Growth in 1Q ADP ADP reported an increase in first-quarter revenue and earnings, benefiting from a swell in new business. The Roseland, N.J.-based HR technology company reported a profit of $956 million, or $2.34 a share, up from $859 million, or $2.09 a share, in the year-ago period. Adjusted for certain one-time items, ADP reported earnings of $2.33 a share compared with $2.52 a share in the year-ago quarter. Analysts had expected $2.21 a share.
RTX Posts 3Q Profit, Sales Boost; Raises Full-Year Outlook
RTX Posts 3Q Profit, Sales Boost; Raises Full-Year Outlook RTX RTX swung to a profit in the third quarter, reported an uptick in sales and raised its guidance for the full year, boosted by a record backlog of $221 billion. The aerospace and defense company posted a profit of $1.47 billion, or $1.09 a share, compared with a loss of $984 million, or 68 cents a share, in the same quarter last year. Stripping out one-time items, adjusted earnings were $1.45 a share.
Johnson & Johnson: Cepheus Phase 3 Study Shows Improvement for Patients With Multiple Myeloma
Johnson & Johnson: Cepheus Phase 3 Study Shows Improvement for Patients With Multiple Myeloma JNJ Johnson & Johnson said patients with newly diagnosed multiple myeloma, a type of bone cancer, saw improvement with its darzalex faspro treatment.
Snowflake Stock Falls on Muted Sales Outlook
Snowflake Stock Falls on Muted Sales Outlook·The Wall Street Journal Emon Reiser Thu, Aug 22, 2024, 11:55 AM1 min read Shares in Snowflake declined Thursday after the cloud-software company's sales guidance failed to impress investors. Reporting results late Wednesday, Snowflake beat Wall Street expectations for quarterly sales and profit, but disappointed on its sales outlook. It assured investors that results weren't affected by AT&T's recent data breach or the Crowdstrike outage.
Zoetis Raises Guidance After 2Q Sales, Earnings Rise
By Emon Reiser Zoetis raised its full-year guidance, citing strong sales in its companion animal portfolio, while the veterinary-drug maker posted upticks in both revenue and profit for the second quarter. The company reported a net income of $624 million, or $1.37 a share, for the period ended June 30 compared with $671 million, or $1.45 a share, in the same quarter a year ago.
Vornado Joint Venture Agrees To Sell Part of 666 Fifth Avenue to Uniqlo
Vornado Joint Venture Agrees To Sell Part of 666 Fifth Avenue to Uniqlo 7203 VNO Vornado Realty Trust said its 52%-owned retail joint venture has agreed to sell some of its square footage at 666 Fifth Avenue in New York, where Japanese retailer Uniqlo operates its U.S. flagship store. Uniqlo agreed to buy 17,295 square feet of its 90,732-square-foot store in a transaction valued at $350 million.
General Dynamics Posts Double-Digit Growth in 2Q Sales, Profit
General Dynamics Posts Double-Digit Growth in 2Q Sales, Profit GD General Dynamics reported soaring sales and revenue for the second quarter, fueled by high demand in its combat systems and technologies businesses. The aerospace and defense company reported a profit of $905 million, or $3.26 a share, up 21% from $744 million, or $2.70 a share, in the same period a year earlier. Analysts polled by FactSet expected $3.28 a share.
Restaurant Brands International Acquires Popeyes China, Invests in Tims China
Restaurant Brands International Acquires Popeyes China, Invests in Tims China QSR Restaurant Brands International, the Canadian conglomerate behind fast-food chains including Tim Horton's and Popeyes, disclosed two transactions that accelerate its growth in China. RBI on Monday said it agreed to acquire Popeyes China from TH International, also known as Tims China, on an enterprise value of $15 million. As a result of the deal, RBI will own and operate 14 additional restaurants in Shanghai.
FDA Approves Merck's Vaccine For Adult Invasive Pneumococcal Disease
FDA Approves Merck's Vaccine For Adult Invasive Pneumococcal Disease MRK The Food and Drug Administration approved Merck's Capvaxive, a vaccine to prevent the invasive bacterial infection pneumococcal disease in adults age 50 or older. Merck said that across four Phase 3 studies, Capvaxive "demonstrated robust immune responses in both vaccine-naïve and vaccine-experienced adult populations." Complications from invasive pneumococcal disease can lead to hospitalization, organ damage and death.
NextEra Energy Drops 6% on 2027 Guidance
NextEra Energy Drops 6% on 2027 Guidance NEE Shares of NextEra Energy were on the decline after the energy company guided for 2027 adjusted earnings per share that was lower than analysts' estimates. The stock fell 6.8% to $71.77 on Tuesday, putting it on track for its lowest close in about a month. Despite the intraday decline, shares remain up 18% year to date. NextEra reaffirmed its adjusted EPS outlook through 2026 and guided for 2027 adjusted EPS between $3.85 and $4.32 a share.
Canada Monetary Reserves Rose To $122.76 Billion Billion in May from April
Canada Monetary Reserves Rose To $122.76 Billion Billion in May from April CAFER OTTAWA--Canada's official international reserves increased month-on-month by $1.73 billion in May, the federal Finance Department reported Wednesday. On May 31, the reserves of foreign currencies, gold and other monetary assets totaled $122.76 billion, up from April's $121.03 billion. All reserve figures are reported in U.S. funds.
Ouster Climbs 24% on Earnings Beat, Sales Boost
Shares of Ouster were on the rise after the company boosted its top line by 51% and reduced its first-quarter losses ahead of Wall Street's estimates. The stock was up 24%, to $12.81, in Friday trading. Shares are up 67% year to date. Ouster on Thursday reported a net loss of $23.8 million, or 55 cents a share, for the first quarter, compared with a loss of $39 million, or 95 cents a share year earlier. Analysts expected a loss of 81 cents a share.
Sealed Air 1Q Earnings Rise With Stronger Demand For Food Packaging
By Emon Reiser Sealed Air boosted its first-quarter earnings despite restructuring costs amid stronger demand in its food packaging segment. The Charlotte, N.C.-based company behind Bubble Wrap posted net income of $82 million, or 57 cents a share, compared with $63 million, or 44 cents a share, a year earlier. The company said special items costs including a $22 million restructuring charge impacted its bottom line.
ADP 3Q Earnings, Revenue Increase in 3Q
ADP 3Q Earnings, Revenue Increase in 3Q ADP ADP saw a double-digit increase in third-quarter earnings as new business bookings and client retention boosted results. The Roseland, N.J.-based HR technology company reported a profit of $1.18 billion, or $2.88 a share, for the quarter ended March 31, up 13% from $1.04 billion, or $2.51 a share, in the year-ago period. Adjusted for certain one-time items, ADP reported earnings of $2.88 a share compared with $2.52 a share in the year-ago quarter.
Evercore Stock Falls 4% on 1Q Sales Miss
By Emon Reiser Shares of Evercore were on the rise after the investment banking advisory company missed sales estimates by a large margin in the first quarter. The stock decreased 4% to $188.06 in midday Wednesday trading. Despite the intraday decline, shares remain up almost 10% year to date. Evercore ahead of the market open reported a profit of $85.7 million, or $2.09 a share, compared with $83.4 million, or $2.06 a share.
Lovesac Stock Falls 13% on Wall Street Miss; Guides For Steeper-Than-Expected 1Q Loss
By Emon Reiser Shares of Lovesac were on the decline after the home-furnishings brand reported fourth-quarter sales and profits below estimates, and said it anticipates first-quarter losses that are steeper than analysts expected. The stock decreased 13% to $20.28 in Thursday morning trading. Shares are down 20% year to date.
Piedmont Lithium Stock Rises 7% on Continued Production Ramp-Up in North America
By Emon Reiser Shares of Piedmont Lithium advanced after the manufacturer said that, following a review, its joint venture would complete projects that would increase production and improve operating costs amid a challenging lithium market. The stock increased 7% to $14.24 a share in Tuesday afternoon trading. Despite the intraday gains, shares remain down almost 50% year to date.
Harmonic Stock Falls 13% With Impending Retirement of Longtime CEO
By Emon Reiser Shares of Harmonic were on the decline after the video-streaming and broadband business said its chief executive would retire after more than 30 years with the company. The stock fell 14% to $11.26 a share in Tuesday morning trading. Shares are down 13% year to date. San Jose, Calif.-based Harmonic on Monday said Patrick Harshman, who joined the company in 1993 and was appointed CEO in May 2006, would retire effective June 11.
Eyenovia Shares Fall More Than 14% After Company Says It Is Exploring Sale
By Emon Reiser Shares of Eyenovia were on the decline after the commercial-stage ophthalmic company said it was exploring strategic options, including a potential sale. The stock decreased 14.6% to 76 cents during Monday trading. Shares are down 63% year to date. Eyenovia on Monday said it planned to consider a wide range of options, including a potential sale of assets, a sale of the company, a merger or other strategic action. Its market capitalization is about $42 million.
Auddia Shares Nearly Triple After Securing Patent for AI Audio Technology
By Emon Reiser Shares of Auddia were soaring after the audio artificial intelligence platform secured a patent for technology for its flagship Faidr app. The stock nearly tripled to $4.09 during Monday trading. Despite the intraday gain, shares remain down 35% year to date. Faidr combines subscription-based AM/FM radio stations, podcasts with interactive digital feeds and a chat interface for music.
Atlas Lithium Shares Gain 15% With $30 Million Investment From Mitsui
By Emon Reiser Shares of Atlas Lithium climbed Thursday after the Brazilian miner secured a $30 million strategic investment from Japanese trading company Mitsui & Co. The stock was recently up almost 15% to $17.08. Despite the intraday gain, shares remain down 45% year to date. The investment comes as Atlas, based in Boca Raton, Fla., is developing its lithium mine project in Brazil. Production is scheduled to begin in the fourth quarter.
Kodiak Sciences Shares Fall 24% on 4Q EPS Miss
By Emon Reiser Shares of Kodiak Sciences were on the decline after the clinical-stage biopharma company reported fourth-quarter losses that were steeper than analysts expected. The stock decreased 24% to $5.64 in Thursday morning trading. Despite the intraday decline, shares remain up 86% this year. Palo Alto, Calif.-based Kodiak posted a net loss of $59.5 million, or $1.13 a share, compared with a loss of $70.4 million, or $1.35 a share in the year-ago period.
Shares of Ouster Soar 42% After Cutting Losses in 4Q, Sees Profitability Ahead
By Emon Reiser Shares of Ouster climbed after the company reduced its fourth-quarter losses and told investors it was on the path to profitability. The stock was up 42% to $7.07 in Wednesday trading. Despite the intraday gains, shares are down nearly 8% this year. Ouster... Master your money. Subscribe to MarketWatch. Get this article and all of MarketWatch. Access from any device. Anywhere. Anytime. Subscribe Now Already a subscriber? Log In
Zoomcar Holdings Shares Fall With EaseMyTrip Partnership
By Emon Reiser Shares of Zoomcar Holdings were falling Tuesday after the car-sharing platform said it teamed up with one of India's largest online travel platforms. Shares declined 3.4% to $1.14 in late-morning trading. The stock is down nearly 70% year to date. Zoomcar and EaseMyTrip on Tuesday said they entered into a strategic partnership to provide pre-booked, on-demand cars to customers in India.
Genesis Global Agrees to Pay $21 Million to Settle SEC Charges from Gemini Earn Program
Genesis Global Agrees to Pay $21 Million to Settle SEC Charges from Gemini Earn Program Bankrupt crypto lender Genesis Global Capital has agreed to pay $21 million to settle charges from regulators that it failed to register its retail crypto lending product before offering it to the public, the Securities and Exchange Commission said Tuesday.
EverCommerce Stock Declines 16% After 4Q Sales, EPS Miss
By Emon Reiser Shares of EverCommerce were lower after the company posted a steeper loss than Wall Street was anticipating amid headwinds to its revenue growth. The stock decreased 16% in Friday morning premarket trading to $7.86 a share after the company announced its results for the quarter and fiscal year ended Jan. 31.
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