16 Mins Ago
iRobot slumps 18% after terminating merger deal with Amazon
Shares of iRobot plummeted 18% before the bell after Amazon axed 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 release.
iRobot also said it plans to cut about 350 employees, or 31% of its workforce as part of a restructuring plan.
Amazon shares were marginally higher.
— Samantha Subin
22 Mins Ago
There’s not ‘any rush’ for Fed to cut, Ed Yardeni says
Yardeni Research president Ed Yardeni said on “Squawk Box” that the Federal Reserve should hold interest rates steady for a little while longer.
“I don’t think there’s any rush for the Fed to ease right away here. They’ve got the risk of the Middle East creating a 1970s scenario due to energy shocks, and if they ease and become too dovish they’ll get a 1990s scenario, which is irrational exuberance,” Yardeni said.
The Fed’s next policy decision is due out on Wednesday, with the following two decision days coming on March 20 and May 1.
— Jesse Pound
57 Mins Ago
Stocks making the biggest moves before the bell: Dollar Tree, American Airlines and more
These are the stocks moving the most in premarket trading:
- Dollar Tree — Shares of the discount retailer popped nearly 2% after JPMorgan upgraded them to overweight from neutral.
- American Airlines — The airline stock added 1.5% following an upgrade to buy from neutral at Citi.
- ZoomInfo Technologies — The software stock popped 5.5% after Bank of America analyst Koji Ikeda upgraded it to buy from neutral.
Read the full list of stocks moving here.
— Lisa Kailai Han
An Hour Ago
FanDuel parent-company Flutter will list on the NYSE Monday, rivals DraftKings for market share
FanDuel parent-company Flutter will make its debut on the New York Stock Exchange on Monday, as the company looks to further cement its standing in the U.S. market.
The company will also maintain its main listing on the London Stock Exchange and will continue to be included in the FTSE 100 index. FanDuel dominates the U.S. online sports betting landscape alongside DraftKings.
— Brian Evans
An Hour Ago
JPMorgan strategist is cautious on global earnings growth
Global corporate earnings growth could be under pressure this year as the world economy softens slightly, according to JPMorgan strategist Mislav Matejka.
“We are generally cautious on global earnings prospects given elevated margins and the risk of pricing and volume disappointments,” Matejka wrote. “Consensus expectations of a re-acceleration in EPS momentum this and next year might end up too optimistic.”
“Within this, relative regional earnings prospects matter for the relative regional performances. Most recently the US outperformance has been aided with better relative EPS momentum,” Matejka added.
— Fred Imbert
9 Hours Ago
Oil prices slightly higher after Iran-linked missiles kill U.S. troops
Oil prices advanced after missiles launched by Iran-backed militants killed U.S. troops in Jordan.
Global benchmark Brent traded 0.35% higher at $83.84 a barrel Monday, while the U.S. West Texas Intermediate futures rose 0.42% to $78.34 per barrel.
According to the White House, three U.S. service members were killed in an unmanned aerial drone attack on forces stationed in a northeast Jordan outpost near the Syria border on Sunday.
—Lee Ying Shan
11 Hours Ago
Evergrande shares plunge 12% before trading halt as court orders liquidation
Hong Kong-listed shares of Evergrande plunged 12.2% in early trading before being halted on Monday as a Hong Kong court order the liquidation of the Chinese real estate developer.
Once one of the country’s largest property developers, Evergrande has been enveloped in the Beijing’s debt crisis in recent years.
The world’s most indebted property developer defaulted in 2021 and announced an offshore debt restructuring program in March last year.
Before the ruling, the Wall Street Journal reported that Evergrande’s overseas creditors failed to reach an 11th-hour deal this weekend to restructure, which could mean an imminent liquidation for the real estate
— Shreyashi Sanyal
12 Hours Ago
Singapore central bank stands pat in first policy meeting of the year
Singapore’s central bank left its monetary policy unchanged as expected on Monday in its first quarterly monetary policy decision of 2024.
The Monetary Authority of Singapore said it will maintain its exchange rate policy band known as the Singapore dollar nominal effective exchange rate or S$NEER.
“MAS will closely monitor global and domestic economic developments, and remain vigilant to risks to inflation and growth,” the central bank said in a 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 one-off impact of the 1%-point hike in the GST from January this year.” Singapore raised its goods and services tax by one percentage point on Jan. 1.
The benchmark Straits Times index edged 0.1% higher in early trading.
Read the full story here.
— Shreyashi Sanyal
14 Hours Ago
Six Dow companies reporting earnings this week
Six of the 30-stock Dow Jones Industrial Average will be releasing their quarterly results this week.
Microsoft will be reporting its earnings on Tuesday after the bell. Boeing, which has been battered by issues with its 737 Max 9 planes, will be posting its quarterly earnings Wednesday morning.
On Thursday, Honeywell and Merck will be reporting, followed by Apple after the bell. Chevron will be announcing its results Friday morning.
— Hakyung Kim
14 Hours Ago
Stock futures open lower
U.S. stock futures declined Sunday night.
Futures tied to the Dow Jones Industrial Average declined 86 points, or 0.2%. S&P 500 and Nasdaq 100 futures were down 0.2% and 0.3%, respectively.
— Hakyung Kim
Read More:Stock futures are little changed ahead of big tech earnings and Fed meeting decision: Live updates
2024-01-29 13:46:00