Stocks were mostly higher Wednesday after inflation at the wholesale level was unchanged in November, another sign of easing U.S. inflation. The data likely will keep the Federal Reserve from making any moves on interest rates. The central bank’s rates decision will be announced at 2 p.m. Eastern time Wednesday.
was tumbling 8% after the drug company revised its guidance for 2024, saying it anticipates adjusted earnings in the range of $2.05 to $2.25 a share. Analysts had been calling for adjusted profit of $3.16 a share.
said it expects to close the acquisition of
on Thursday. The guidance includes the oncology drug developer. Vaccine maker
declined 5.1%.
fell 6.8% after the online-shopping site said it would be cutting 11% of its workforce, or about 225 employees, in a cost-saving move.
was down 3% after the National Highway Traffic Safety Administration said the electric-vehicle maker was recalling more than 2 million vehicles because of control issues with its driver-assistance system Autopilot.
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was rising 2.8% after Nasdaq announced that the videogame publisher would be added to the Nasdaq-100 index, effective Dec. 18.
declined 5.9% after the carrier said it was targeting year-over-year growth of a low- to mid-single-digit percentage in available seat miles beyond 2024. It previously had targeted annual mid-single-digit percentage growth.
gained 1.1% to $42.51 after
initiated coverage on shares of the videogame platform with an Overweight rating and price target of $49.
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rose 10% after reporting positive Phase 2 study results for a drug to treat pain from diabetic peripheral neuropathy.
rose 6.6% to $1.87 after Keefe Bruyette raised its price target on shares of the fintech company to $1.85 from $1.50 and maintained a Market Perform rating on the stock.
Earnings reports are expected Wednesday from
Adobe
,
the maker of Photoshop and other popular media creation tools, and industrial automation company
Nordson
.
Write to Joe Woelfel at joseph.woelfel@barrons.com
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2023-12-13 16:44:00