2 minutes ago
iRobot falls 18% after terminating the merger agreement with Amazon
iRobot shares plunged 18% after Amazon canceled its deal to buy the Roomba maker following antitrust scrutiny.
“Amazon’s proposed acquisition of iRobot has no path to regulatory approval in the European Union, preventing Amazon and iRobot from moving forward together, a loss for consumers, competition and innovation,” the companies said in a statement.
iRobot said it too plans to cut about 350 employees, or 31% of its workforce, as part of a restructuring plan.
8 minutes ago
There is “no rush” for the Fed to cut, says Ed Yardeni
Yardeni Research President Ed Yardeni said on “Squawk Box” that the Federal Reserve should keep interest rates steady for a while longer.
“I don’t think there is any rush for the Fed to ease immediately. They run the risk of the Middle East creating a 1970s scenario due to energy shocks, and if they ease and become too dovish, they will get a 1970s scenario. of the 90s, which is an irrational exuberance,” said Yardeni.
The Federal Reserve’s next policy decision will be released on Wednesday, with the next two days being March 20 and May 1.
43 minutes ago
Stocks Making the Biggest Moves Before the Bell Rings: Dollar Tree, American Airlines and More
These are the stocks that are moving the most in pre-market trading:
- Dollar Tree: Shares of the discount retailer rose nearly 2% after JPMorgan upgraded it to overweight from neutral.
- American Airlines – Shares of the airline rose 1.5% following an upgrade to buy from neutral at Citi.
- ZoomInfo Technologies – Software stock rose 5.5% after Bank of America analyst Koji Ikeda upgraded it to buy from neutral.
Read the full list of moving stocks here.
—Lisa Kailai Han
An hour ago
FanDuel parent company Flutter to list on the NYSE on Monday, rivals DraftKings for market share
Flutter, the parent company of FanDuel, will make its debut on the New York Stock Exchange on Monday, as the company looks to further consolidate its position in the US market.
The company will also maintain its primary listing on the London Stock Exchange and remain included in the FTSE 100 index. FanDuel dominates the US online sports betting landscape alongside DraftKings.
An hour ago
JPMorgan strategist cautious about global earnings growth
Global corporate profit growth could come under pressure this year as the global economy weakens slightly, according to JPMorgan strategist Mislav Matejka.
“Overall, we are cautious about the global earnings outlook, given elevated margins and the risk of price and volume disappointments,” Matejka wrote. “Consensus expectations for a further acceleration in earnings per share momentum this year and next may prove overly optimistic.”
“Within this, relative regional earnings prospects are important for relative regional results. More recently, US outperformance has been aided by better relative earnings per share momentum,” Matejka added.
9 hours ago
Oil prices rise slightly after Iran-linked missiles kill US troops
Oil prices rose after missiles launched by Iran-backed militants killed US troops in Jordan.
Global benchmark Brent traded 0.35% higher at $83.84 a barrel on Monday, while US West Texas Intermediate futures rose 0.42% to $78.34 a barrel.
According to the White House, Three U.S. service members were killed Sunday in an unmanned airstrike on forces stationed at an outpost in northeastern Jordan, near the Syrian border.
—Lee Ying Shan
10 hours ago
Evergrande shares plunge 12% before stopping as court orders liquidation
Evergrande’s Hong Kong-listed shares plunged 12.2% in early trading before being suspended on Monday when a Hong Kong court ordered the liquidation of the Chinese property developer.
Evergrande, once one of the country’s largest real estate developers, has been embroiled in Beijing’s debt crisis in recent years.
The world’s most indebted real estate developer defaulted in 2021 and announced an offshore debt restructuring program in March last year.
Before the ruling, the Wall Street Journal reported that Evergrande’s foreign creditors failed to reach a last-minute agreement this weekend for restructuring, which could mean an imminent liquidation for the real estate company.
12 hours ago
Singapore central bank holds firm in first monetary policy meeting of the year
Singapore’s central bank left its monetary policy unchanged as expected on Monday in its first quarterly monetary policy decision of 2024.
The Monetary Authority of Singapore said it will maintain its currency policy band known as the Singapore dollar nominal effective exchange rate or S$NEER.
“The MAS will closely monitor global and domestic economic developments and remain alert to risks to inflation and growth,” the central bank said in a statement. policy statement.
The central bank said it expects the country’s gross domestic product to improve in 2024, estimating growth between 1% and 3%.
The MAS said core inflation is expected to rise in the current quarter “due in part to the exceptional impact of the 1% increase in GST from January this year.” Singapore increased its goods and services tax by one percentage point on January 1.
The Straits Times benchmark index rose 0.1% in early trading.
Read the full story here.
13 hours ago
Six Dow companies reporting results this week
Six of the 30 stocks in the Dow Jones Industrial Average will release their quarterly results this week.
Microsoft will report earnings on Tuesday after the bell. Boeing, which has been hit by problems with its 737 Max 9 planes, will release its quarterly results on Wednesday morning.
Honeywell and Merck will report Thursday, followed by Apple after the bell. Chevron will announce its results on Friday morning.
14 hours ago
Stock futures open lower
U.S. stock futures fell Sunday night.
Futures tied to the Dow Jones Industrial Average fell 86 points, or 0.2%. S&P 500 and Nasdaq 100 futures fell 0.2% and 0.3%, respectively.