Shares of Globalstar Inc. GSAT charged 6.9% higher in morning trading Wednesday, after the telecommunications connectivity company announced a financing deal that didn’t include equity. The stock’s gain comes a day after it rose 2.3%, to bounce off Monday’s 13-month closing low of 99 cents. The company said it has entered into a purchase agreement …
Category Archives: Stock Market
Seagate to increase the number of employees it lays off by 480
Seagate Technology Holdings PLC STX disclosed Wednesday that it is increasing the number of employees being laid off by 480, or 1% of its workforce. The maker of data-storage technologies had said in October that it planned to cut about 3,000 jobs, or 8% of its staff. The company said the latest cuts will be …
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Macy’s CEO Gennette to retire after nearly 7 years in the role, and stock falls
Shares of Macy’s Inc. M fell 2.1% toward a six-month low in premarket trading Wednesday, after the department store chain said Chief Executive Jeff Gennette plans to retire at the end of the fiscal year, after nearly seven years in the role and 40 years with the company. The company named Tony Spring, currently executive …
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Reuters reveals General Electric lays off workers at onshore wind unit as part of turnaround strategy
Business & Finance 06 October 2022, 8:59 pm 1 minute Reuters was first to report General Electric (GE) is laying off workers at its onshore wind unit as part of a plan to restructure and resize the business. The cuts are expected to affect 20% of the onshore wind unit’s workforce in the United States, equating to …
Reuters reveals Assa Abloy considers selling Yale and Emtek brands to win U.S. approval for Spectrum deal
Business & Finance 07 October 2022, 1:13 pm 1 minute Reuters was first to report that Assa Abloy, the world’s leading lockmaker, is considering options including selling its Yale and Emtek locks brands as it seeks to overturn U.S. antitrust opposition to its planned purchase of Spectrum’s Hardware and Home Improvement. The news comes just …
U.S. stocks close lower Tuesday as Treasury yields climb
U.S. stocks ended modestly lower on Tuesday, as Treasury yields rose, keeping pressure on the rate-sensitive Nasdaq Composite Index. The Dow Jones Industrial Average DJIA shed about 37 points, or 0.1%, ending near 32,394, while the S&P 500 index SPX fell 0.2% and the Nasdaq COMP closed 0.5% lower, according to preliminary data from FactSet. …
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Reuters reveals India demands nearly $250 million from Pernod for undervaluing imports
Government 07 October 2022, 1:28 pm 1 minute Reuters was first to report Indian authorities have demanded $244 million from the local unit of French spirits giant Pernod Ricard for undervaluing concentrate imports for over a decade to avoid full payment of duties. Article Tags Topics of Interest: Government Type: Reuters Best Sectors: Equities Regions: …
U.S. stocks open mostly lower as investors digest fresh economic data on home prices, trade deficit
U.S. stocks opened mostly lower Tuesday, as investors digested fresh economic data on the trade deficit and home prices. The Dow Jones Industrial Average DJIA, +0.18% was up less than 0.1% soon after the opening bell, while the S&P 500 SPX, -0.15% fell 0.2% and the Nasdaq Composite COMP, -0.62% shed 0.2%, according to FactSet …
Ammo’s stock gains after repurchase program extended, and shares of Sturm Ruger, Smith & Wesson also rise
Shares of Ammo Inc. POWW, +2.33% gained 0.7% in premarket trading Tuesday, after the online marketplace for the firearms and shooting sports industries said it would extend its share repurchase program until February 2024. The program is for up to $30 million worth of its stock, which represents 14.5% of the company’s market capitalization of …
Reuters reveals chip toolmaker KLA to stop sales and service to China to comply with U.S. export curbs
Technology 11 October 2022, 6:34 pm 1 minute Reuters exclusively reported U.S. chip toolmaker KLA Corp will cease offering some supplies and services to China-based customers including South Korea’s SK Hynix in compliance with recent U.S. regulations. The move underscores huge business headwinds facing chipmakers and chip equipment makers around the world, as the Biden …