Wallace Witkowski
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Articles by Wallace Witkowski
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OZK U.S.: Nasdaq Watchlist NEW Set a price target alert OZKUS Premarket $ 48.46 -0.30 -0.49% Before Hours Volume: 1.1K $48.70 0.49 1.02% Toggle Chart Options Advanced Charting Range Dropdown Volume: 963.14K 65 Day Avg: 944.52K 48.20 Day Range 48.98 30.72 52 Week Range 52.36
Kyndryl Holdings Inc.
KD U.S.: NYSE Watchlist NEW Set a price target alert KDUS Premarket $ 18.77 0.40 2.18% Before Hours Volume: 5.78K $18.37 0.07 0.38% Toggle Chart Options Advanced Charting Range Dropdown Volume: 3.03M 65 Day Avg: 1.65M 18.13 Day Range 18.42 10.49 52 Week Range 19.15 Customize MarketWatch Have Watchlists? Log in to see them here or sign up to get started. No Items in Watchlist There are currently no items in this Watchlist. No Saved Watchlists Create a list of the investments you want to track.
Tower Semiconductor Ltd.
TSEM U.S.: Nasdaq Watchlist NEW Set a price target alert TSEMUS Premarket $ 23.40 0.06 0.26% Before Hours Volume: 3.22K $23.34 0.68 3.00% Toggle Chart Options Advanced Charting Range Dropdown Volume: 1.01M 65 Day Avg: 1.38M 22.74 Day Range 23.58 21.43 52 Week Range 46.50 Customize MarketWatch Have Watchlists? Log in to see them here or sign up to get started. No Items in Watchlist There are currently no items in this Watchlist. No Saved Watchlists Create a list of the investments you want to track.
HPE stock drops following disappointing outlook
Hewlett Packard Enterprise Co. HPE shares fell in the extended session Thursday after the company’s forecast for this year and the next fell short of expectations. HPE shares dropped 4% after hours, following a 2.3% decline to close the regular session at $16.30. For the current fiscal year, HPE forecasts revenue to grow 4% to 6%, and adjusted earnings of $2.11 to $2.15 a share. Analysts surveyed by FactSet had forecast $2.14 a share on revenue of $29.15 billion.
Intuitive Surgical’s stock drops as revenue misses Street view
Intuitive Surgical Inc. ISRG shares fell in the extended session Thursday after the surgical robotics company’s quarterly revenue missed Wall Street estimates. Intuitive Surgical shares fell as much as 8% after hours, following a 0.8% rise to close the regular session at $273.45. The company reported third-quarter net income of $415.7 million, or $1.16 a share, compared with $324.7 million, or 90 cents a share, in the year-ago period.
CrowdStrike's and Zscaler's stocks are top plays in rocky cybersecurity market, analyst says
Your browser does not support the audio tag. This feature is powered by text-to-speech technology. Want to see it on more articles? Give your feedback below or email audiofeedback@marketwatch.com. Some of the cybersecurity sector’s biggest winners this year can keep powering higher, according to a Jefferies analyst who shook up his ratings on a handful of key stocks Thursday.
CVS voluntarily pulling decongestants from shelves that contain ineffective ingredient
CVS Health Corp. CVS is pulling decongestants off their shelves that contain an ingredient an Food and Drug Administration advisory committee determined did not work, according to a Thursday report from the Wall Street Journal. Used as a key ingredient in decongestants for nearly a century, FDA advisors in September determined that phenylephrine did not improve congestion.
Zions Bancorp stock drops as net interest income falls short of expectations
Shares of regional bank Zions Bancorp NA ZION sank nearly 5% in the extended session Wednesday after the regional bank’s net interest income fell short of Wall Street expectations. Shares finished Wednesday down 2.9% to close at $35.69. The Salt Lake City-based bank reported third-quarter net income of $168 million, or $1.13 a share, compared with $211 million, or $1.40 a share, in the year-ago quarter.
Equifax’s stock drops as outlook is cut
Equifax Inc. shares fell in the extended session Wednesday after the credit-score agency cut its outlook for the year, blaming a weak mortgage market that is expected to continue in the current quarter. Equifax EFX shares dropped as much as 8%, adding to a 3.2% loss from Wednesday to close the regular session at $175.16. Chief Executive Mark... Equifax Inc.
Lam Research earnings top Street view, but outlook virtually in line with consensus
By Wallace Witkowski Midpoint of Lam earnings outlook is $6.78, while Street expects $6.77 Lam Research Corp. shares slipped in the extended session Wednesday even after the wafer-fab-equipment market's results topped Wall Street expectations but its earnings forecast midpoint was a penny more than the consensus estimate. Lam (LRCX) shares fell 3% after hours, following a 1.2% decline to close the regular session at $642.24.
Lam Research earnings: What to expect
Your browser does not support the audio tag. This feature is powered by text-to-speech technology. Want to see it on more articles? Give your feedback below or email audiofeedback@wsj.com. When Lam Research Corp. reports earnings after Wednesday’s closing bell, analysts will be looking to see if the company expects the wafer-fab-equipment market to bottom by the end of the year, and at how much growth management projects for next year.
Nvidia says China AI chip ban could result in delays, transition of operations
Nvidia Corp. NVDA, -4.68% said late Tuesday a widened U.S. ban on AI tech products to China could delay its current rollout, but did not foresee a meaningful financial impact near term, according to a filing with the Securities and Exchange Commission. Nvidia shares fell 0.8% after hours, following a 4.7% drop in the regular session to close at $439.38. Earlier Tuesday, Nvidia shares dropped as the U.S. expanded restrictions on tech to China.
'Unprecedented' AI server buildout may be happening too quickly, this analyst warns
Forecasts for data-center server growth far exceed any that occurred during the rise of the internet, so while one analyst is positive long term on the AI gold rush, he warns the risk of building too much too soon also runs high. This past summer, graphics-processing unit giant Nvidia Corp.
Terex’s stock slides as hiked outlook falls short of Street view
Shares of Terex Corp. TEX declined in the extended session Tuesday after the crane and construction equipment company’s hiked outlook fell short of Wall Street expectations while announcing the retirement of its chairman and chief executive. Terex shares fell more than 3% after hours, following a 0.4% rise to close the regular session at $54.23. Terex said that John Garrison Jr. will retire as chairman and CEO effective Jan.
Viking Therapeutics’ stock rallies following early drug study data
Viking Therapeutics Inc. VKTX, -0.37% shares rose in the extended session Tuesday after the biotech drug developer said data from an early stage clinical study showed its drug candidate reduced liver fat levels. Viking shares rose as much as 7% after hours, following a 0.4% decline to close the regular session at $10.27.
Southwestern Energy’s stock surges on report of acquisition talks with Chesapeake Energy
Southwestern Energy Co. SWN shares surged Tuesday following a report that Chesapeake Energy Corp. CHK is looking to buy the natural-gas producer. Southwestern Energy shares rallied more than 7% to an intraday high of $7.33, following a Reuters report that Chesapeake and Southwestern are in preliminary talks, according to sources close to the matter. A combined company — $7.9 billion Southwestern and $11.75 billion Chesapeake — would overtake $18 billion EQT Corp.
NetScout’s stock drops 20% after full-year outlook reduced
NetScout Systems Inc. NTCT shares fell in the extended session Monday after the cybersecurity company cut its outlook for the year, citing slower order conversions. NetScout shares dropped more than 20% after hours, following a 3.5% rise to close the regular session at $27.59.
Snap’s stock rallies to best day in nearly a year following user count leak
Snap Inc. SNAP, +11.98% shares rallied for their best day in nearly a year Monday after leaked data indicated the social-media app’s user count was higher than expected. Snap shares surged 12% to close Monday at $9.72, their best one-day performance since Oct. 25, 2022, when the stock gained 15.5%. On Friday, the Verge reported 475 million daily active users by the end of 2024, above an industry estimate of 447 million.
Intel’s stock is now a popular hedge-fund play, but further momentum may not be a slam dunk
Once in Wall Street’s doghouse, Intel Corp.’s stock is now a hedge-fund favorite, but a Citi analyst thinks a number of factors need to go right in order for the shares to really work.
Pfizer stock falls after company slashes $9 billion from sales outlook
By Wallace Witkowski Moderna, Novavax, BioNTech shares also fall ahead of Monday's open Shares of Pfizer Inc. and other drug companies fell ahead of Monday's open after Pfizer slashed $9 billion in expected sales from its full-year outlook, as it seeks to shift to commercial approval of its Paxlovid COVID treatment. In an announcement made after the close Friday, Pfizer (PFE) said it now expects full-year earnings of $1.45 to $1.65 a share on revenue of $58 billion to $61 billion.
Pfizer stock falls as slashes $9 billion slashed from outlook, foreshadows layoffs
By Wallace Witkowski Moderna, Novavax, BioNTech shares also fall ahead of Monday's open Shares of Pfizer Inc. and other biotech drug makers fell ahead of Monday's open after Pfizer slashed $9 billion in expected sales from its full-year outlook, as it seeks to shift to commercial approval of its Paxlovid COVID treatment, and foreshadowed layoffs.
Pfizer’s stock sinks after company cuts outlook on lower demand for COVID products
Pfizer Inc. PFE, -2.46% shares dropped in the extended session Friday after the drug maker slashed its full-year outlook due to COVID product write offs. Pfizer shares dropped more than 7% after hours, following a 2.5% decline to close the regular session at $32.11. The company forecast full-year earnings of $1.45 to $1.65 a share on revenue of $58 billion to $61 billion. Analysts surveyed by FactSet expect $3.29 a share on revenue of $65.96 billion.
Illumina responds to EC Grail divestiture order
Illumina Inc. ILMN responded Friday to an order it received Thursday from the European Commission directing the company to divest its $7.1 billion acquisition of cancer-test maker Grail.
As California prepares lawsuit to block Albertsons acquisition, Kroger claims unions would benefit
By Wallace Witkowski Kroger fires back that blocking deal will only benefit non-union retailers like Walmart and Amazon As California appears prepared to sue to block Kroger Co.'s $24.6 billion acquisition of Albertsons Cos., Kroger fired back Thursday that there's a big reason not to block the deal, claiming it would be better for union workers.
California preparing lawsuit to block Kroger’s Albertsons acquisition
California is preparing to block Kroger Co.’s KR, +0.16% acquisition of Albertsons Cos. ACI, +0.04% with an upcoming lawsuit, according to remarks from the state’s attorney general Thursday. California Attorney General Rob Bonta reportedly told media present in Washington D.C. that there was “not a lot of reason not to sue” to block the deal and that his office was “moving toward acting,” after meeting with Federal Trade Commission Chair Lina Khan earlier Thursday, according to Bloomberg.
Qualcomm trimming workforce by 2.5% with California job cuts
Qualcomm Inc. QCOM will cut about 2.5% of its workforce in December with job cuts centered in California, the chip maker reported in filings to regulators. In filings with the California Employment Development Department on Thursday, Qualcomm said it planned to eliminate 1,064 positions in San Diego, and 194 in Santa Clara, Calif., with the cuts occurring in mid-December. Qualcomm last reported having 51,000 employees globally.
Dollar General stock rallies as Todd Vasos returns as CEO
Dollar General Corp. shares rallied in the extended session Thursday after the company announced Todd Vasos will return as chief executive, effective immediately, and kept its sales forecast within analysts’ expectations. Dollar General DG shares rallied 7% after hours, following the announcement that Vasos, who previously served as CEO from June 2015 to November 2022, agreed to return as CEO “for the foreseeable future.” Vasos... Dollar General Corp.
LL Flooring’s stock rallies 50% following Live Ventures buyout offer
LL Flooring Holdings Inc. LL, +42.32% rallied Thursday after Live Ventures Inc. LIVE, +0.39% offered $5.85 a share cash for the company. LL shares surged as much as 52% to an intraday high of $4.45 following the offer. Live Ventures shares rose 0.4%.
CrowdStrike’s stock looks to highest close in more than a year, longest win streak in more than two
Shares of cybersecurity company CrowdStrike Holdings Inc. CRWD on Thursday leaned toward their highest close in more than a year and promised to log their longest winning streak in more than two. CrowdStrike shares, which have fluctuated between slight gains and losses, were last up 0.4% at $188.98, which would be the stock’s highest close since Sept. 12, 2022, when shares finished at $195.10, according to Dow Jones Market Data.
As AI matures, Nvidia won't be the only pick-and-shovel company to thrive, BofA analysts say
For investors trying to play a gold rush, it’s important to look at who sells the picks and shovels to miners. In the case of the artificial-intelligence revolution, Nvidia Corp. NVDA has established itself as the biggest beneficiary of that gold rush, thanks to its valuable graphics processing units that accelerate machine learning and other processes that help train AI models. But... For investors trying to play a gold rush, it’s important to look at who sells the picks and shovels to miners.
Voxx’s stock rallies 20% as Gentex stake disclosed
Shares of auto and consumer electronics supplier Voxx International Corp. VOXX, +21.69% rallied more than 20% Wednesday after Gentex Corp. GNTX, -0.08% disclosed an 8.6% stake in the company, according to a filing with the Securities and Exchange Commission. Voxx shares hit an intraday high of $9.90, while Gentex shares were down fractionally. Gentex designs and supplies digital vision, connected car, dimmable glass and fire protection products.
Family Dollar recalls OTC drugs, products in 23 states over incorrect temperature storage
Family Dollar voluntarily recalled dozens of over-the-counter drugs and medical devices sold at its stores because they had been stored at improper temperatures, according to the Food and Drug Administration late Tuesday. On the FDA’s website, the regulator said products affected by the recall were stored “outside of labeled temperature requirements by Family Dollar and inadvertently shipped to certain stores on or around June 1, 2023 through September 21, 2023” in 23 states.
Silk Road Medical stock falls following outlook, CEO’s retirement
Silk Road Medical Inc. SILK shares dropped in the extended session Tuesday after the medical device company updated its forecast and said its chief executive was retiring. The company forecast third-quarter revenue of about $44.4 million, and full-year revenue of $170 million to $174 million. Analysts surveyed by FactSet expect third-quarter revenue of $46.3 million, and full-year revenue of $181.7 million.
Unity has lost developer trust, but Wall Street thinks CEO’s exit can help rebuild goodwill
Wall Street appeared to breathe a sigh of relief as Unity Software Inc.’s chair and chief executive, John Riccitellio, left the company he helped take public following a nasty feud with videogame developers over new fees. Unity shares U rallied as much as 6.5% to an intraday high of $31.66 Tuesday amid optimism that the leadership shake-up at the game-engine and game-ad-monetization company could help restore trust within the developer community. DA...
Adobe's so confident Firefly AI won't infringe copyrights it's offering to pay customers' legal bills
Adobe Inc. rolled out new features of its Firefly AI Tuesday and is so confident its artificial intelligence model protects copyrighted material that it is offering to pay legal bills of users sued for infringement.
Unity CEO John Riccitiello leaving company, less than a month after botched fee rollout
By Wallace Witkowski Game software company affirms third-quarter outlook of $540 million to $550 million in revenue Less than a month after game developers revolted against a new fee rollout, Unity Software Inc. said John Riccitiello will retire as president, chief executive and chairman of the game-engine and ad-monetization company he took public at the height of the COVID pandemic.
John Riccitiello, Unity Software's CEO and chairman, is leaving the company
By Wallace Witkowski Company affirms third-quarter outlook Unity Software Inc. said late Monday that John Riccitiello will retire as president, chief executive and chairman of the game-engine and ad-monetization company he took public at the height of the COVID pandemic. Unity (U) appointed James Whitehurst as interim CEO; Roelof Botha, lead independent director of Unity's board, has been appointed chairman. The board said it would initiate a search for a new CEO.
Unity Software’s Chairman, CEO John Riccitiello leaving company
Unity Software Inc. U, -1.49% said in the extended session Monday that John Riccitiello will retire as president, chief executive and chairman. Unity appointed James Whitehurst as interim CEO; Roelof Botha, lead independent director of the Unity Board, has been appointed chairman. The board said it would initiate a search for a new CEO. Recently, Unity drew fire from game developers and had to alter a fee rollout for its game engine.
PagerDuty stock falls on new debt offering
PagerDuty Inc. PD, -0.23% shares fell in the extended session Monday after the DevOps software company said it was issuing new notes to cover the purchase of old ones. The company said it intends to offer $350 million principal amount of convertible senior notes due 2028, with an additional $52.5 million available, to pay the cost of buying back notes due in 2025. PagerDuty said it will use the remainder in proceeds for general corporate purposes, including potential acquisitions.
Israel orders Chevron to shut down offshore gas platform as safety precaution
Israel ordered Chevron Corp. CVX, +3.20% to shut down an offshore natural gas platform in the eastern Mediterranean Sea as a safety precaution in its conflict with Hamas, the Wall Street Journal reported Monday. The platform is one of two Chevron operates in Israel’s Tamar and Leviathan gas fields. Chevron shares rose 3.1% Monday, leading the Dow Jones Industrial Average DJIA, +0.63% higher.
Aptevo Therapeutics Inc.
Shares of Aptevo Therapeutics Inc. more than doubled late Thursday after the tiny Seattle-based biotech company said it ended a partnership with German biotech company MorphoSys AG for a prostate cancer drug candidate and... Shares of Aptevo Therapeutics Inc. soared 107% in premarket trading on Monday after the company said a combination of its experimental therapy with azacitidine and venetoclax produced a clinical benefit in 16 patients wit... Aptevo Therapeutics, Inc.
Clorox slashes forecast due to effects of cyberattack; stock falls
By Wallace Witkowski Shares have fallen 18% since mid-August cyberattack disclosure Clorox Co. shares fell in the extended session Wednesday after the company slashed its outlook stemming from the impact of a cybersecurity attack over the summer. Clorox (CLX) shares fell about 3% after hours, following a 1.2% gain to close the regular session at $131.83. At Wednesday's close, Clorox shares were down 6.1% for the year, while the S&P 500 index SPX has gained 11.1%.
BlackBerry stock rises on announcement of planned IPO of its IoT business
BlackBerry Ltd. shares rose in the extended session Wednesday after the company announced it planned to spin off its Internet-of-Things business in an initial public offering. BlackBerry BB shares rose more than 5% after hours, following a 1.8% decline to close at $4.27. In a statement Wednesday, BlackBerry said its board determined that “separating... BlackBerry Ltd.
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