Ventyx Biosciences, Inc. (NASDAQ: VTYX) shares enjoy slight gains Friday. The San Diego-based clinical-stage biopharmaceutical company focused on advancing novel oral therapies that address a broad range of inflammatory diseases with significant unmet medical need, today announced that the first patient has been dosed in a Phase 2a trial of VTX3232 in patients…
Read More “Ventyx Edges Forward on Parkinson’s Test Results” »
On Thursday, Chinese electric vehicle firm Nio posted a loss of $0.30 (non-GAAP EPADS). Revenue soared by 98.9% Y/Y to $2.4 billion. NIO stock gained 14.39% on the day. Investors should beware of chasing Nio’s rally. The strong sales growth has yet to lead to profitability. Only Li Auto (LI) and BYD (BYDDY)…
Read More “Beware Of These Hot Stocks: Nio, APLD, and Intel” »
Genesco Inc. (NYSE: GCO) shares stumbled Friday, on reporting results for the three months ended August 3. Total net sales increased to $525 million; comparable sales decreased 2%. Comparable e-commerce sales increased 8%; comparable store sales decreased 4%. E-commerce sales represented 22% of retail sales compared to 21% last year. GAAP EPS was…
When markets open to digest this morning’s non-farm payroll report, the data will not matter. The Labor Department already posted weak job opening data. Furthermore, the Challenger Report indicated 75,891 job cuts in August. This is almost three-fold higher than the 25,885 cuts reported in July. JPMorgan (JPM) economist Michael Feroli thinks the…
Seven & i Holdings (SVNDY), the Japanese parent company of the 7-Eleven convenience store chain, has rejected a takeover offer from Canada’s Alimentation Couche-Tard (ATD). In a filing with the Tokyo Stock Exchange, Seven & i Holdings said the takeover bid “is not in the best interest” of its shareholders as it grossly…
Read More “7-Eleven Rejects Alimentation Couche-Tard’s Takeover Offer” »
Costco Wholesale (COST) reported that its net sales rose an annualized 7.1% to $19.80 billion U.S. in August as consumers continue to flock to the warehouse club for groceries and other essential items. The August sales result follows a 7% year-over-year increase recorded by the company in July of this year. Costco is…
Jensen Huang, the chief executive officer (CEO) of microchip giant Nvidia (NVDA), has sold $633 million U.S. worth of company stock since June of this year. According to publicly available filings with the U.S. Securities and Exchange Commission (SEC), Huang sold 5.3 million shares between June 13 and Sept. 5 worth $633.1 million…
Read More “Nvidia CEO Sells $633 Million Of Company Stock” »
Despite beating Wall Street forecasts with its financial results, shares of Broadcom (AVGO) are down 10% after the chipmaker issued weak forward guidance for the remainder of this year. Silicon Valley-based Broadcom reported earnings per share (EPS) of $1.24 U.S., which topped the $1.20 U.S. expected among analysts who track the company’s progress….
Read More “Broadcom’s Stock Falls 10% On Weak Forward Guidance” »
Cloud computing giant Salesforce (CRM) is buying Own, a start-up company that specializes in tools for backing up data, for $1.90 billion U.S. in cash. Salesforce said in a news release that the acquisition will improve its ability to back-up its own data in cloud-based applications, and that the deal is expected to…
Read More “Salesforce Buys Start-Up Company ‘Own’ For $1.9 Billion” »
Advertisment The S&P 500 edged up Friday as investors assessed a weaker-than-expected August jobs report and its implication on U.S. monetary policy. The Dow Jones Industrial index gained back 205.63 points to open Friday at 40,961.38. The much-broader index reversed 1.1 points to 5,502.31. The NASDAQ lost 79.51 points to 17,048.13. …
