Metropolitan Bank stock sees big bounce after financial update, saying ‘liquidity remains strong’

Shares of Metropolitan Bank Holding Corp. MCB, +33.64% bounced 14.8% in premarket trading Friday, after the parent of New York-based Metropolitan Commercial Bank provided a financial update, saying it was “well capitalized across all measures of regulatory capital” and that “liquidity remains strong.” The update came late Thursday, after the stock tumbled 27.6% on Thursday, …

Chicken Soup for the Soul stock falls toward record low after offering prices at 28% discount

Shares of Chicken Soup for the Soul Entertainment Inc. CSSE, -37.50% plunged 30.3% toward a record low in premarket trading Friday, after the Redbox, Crackle, and Chicken Soup for the Soul streaming services operator’s public stock offering price priced at a deep discount. The company said the public offering, which was announced late Thursday, was …

Kentucky poised to become 38th state to legalize medical use of cannabis

Kentucky Gov. Andy Beshear said he plans to sign into law Friday a medical cannabis bill passed by the state Senate and General Assembly, according to his Twitter account. “Today the General Assembly finally took action and passed a bill to legalize medical cannabis,” Gov. Beshear said late Thursday. “I am thankful this progress has …

Groupon stock pops as company switches up its CEO

Groupon Inc. GRPN, +24.93% is changing up its leadership, with Dusan Senkypl, the co-founder of Pale Fire Capital and a member of Groupon’s board, taking on the role of interim chief executive effective immediately. He replaces Kedar Deshpande, who has stepped down from his CEO and director posts but plans to advise the company for …

U.S. stocks open higher after Fed’s preferred inflation gauge rose less than expected

U.S. stocks opened higher after fresh data showed inflation rose in February less than expected on a year-over-year basis. The Dow Jones Industrial Average DJIA, +1.26% was up 0.4% soon after the opening bell, while the S&P 500 SPX, +1.44% gained 0.3% and the Nasdaq Composite COMP, +1.74% advanced 0.2%, according to FactSet data, at …

Soybean futures on track for highest finish in 3 weeks after USDA data

Soybean futures were on track Friday to settle at their highest in three weeks after the U.S. Department of Agriculture’s Prospective Plantings report showed 2023 soybean intended plantings little changed from 2022. The report showed that soybean area planted in the U.S. at 87.45 million acres in 2022, with intended plantings at 87.505 million acres …

Cano Health stock plunges toward record low after 3 directors resigned amid concerns over CEO Hernandez’s leadership

Shares of Cano Health Inc. CANO, -19.47% tumbled 20.3% toward their first-ever sub $1 close in afternoon trading Friday, after the primary care provider said it was “disappointed” that three directors had decided to resign, that it strongly disagreed with their comments about the company and that one director, Barry Sternlicht, shared confidential board deliberations …

Google isn’t done with cost cutting, CFO warns: report

Alphabet Inc.’s GOOGL, +2.81% GOOG, +2.65% Google isn’t done with spending cuts, Chief Financial Officer Ruth Porat warned employees Friday in a memo to staff. Porat said the company, which is known for employee perks, will eliminate some snack bars, known as microkitchens, and will close cafeterias on days with modest traffic, according to a report in …

Micron stock slumps as China launches cybersecurity review, but company says it stands by its product security

A spokesperson for Micron Technology Inc. MU, -4.36% said that the company is aware that the Cyberspace Administration of China has announced its intent to pursue a cybersecurity review of the products Micron sells in China. “We are in communication with the CAC and are cooperating fully,” the spokesperson said. “Micron is committed to conducting …

U.S. stocks end Friday higher, Nasdaq posts best quarter since 2020

U.S. stocks rallied on Friday to end a rocky month higher, while the Nasdaq Composite also posted its best quarterly gain since 2020. The Dow Jones Industrial Average DJIA, +1.26% jumped about 414 points, or 1.3%, ending near 33,273 on Friday and up 1.9% for the month, according to preliminary FactSet figures. The S&P 500 …