Evidence that the stock market and the real economy are not the same thing.Dec 22, 2020 - Economy & Business
If Trump's presidency is about to end, an unprecedented golden era for big businesses could end with it.Nov 6, 2020 - Economy & Business
All major oil companies are facing trouble. But Exxon has fallen the farthest, making the biggest bets on oil and gas — and the smallest bets on renewable energy.Nov 1, 2020 - Economy & Business
Bullish fund managers are starting to lay down bets that it will be this way for a while.Jul 9, 2020 - Economy & Business
The disconnect shows how the coronavirus has thrown all bets off.Jul 3, 2020 - Economy & Business
Tech stocks are bearing the brunt of the current sell-off — and the tech-heavy Nasdaq composite index officially slipped into a correction after another decline on Wednesday.
Why it matters: A correction is a term of art Wall Street applies to a sell-off that pushes prices down 10% from a recent high. It’s a shorthand way of describing a market drop that’s more serious than your run-of-the-mill dip.
Bausch + Lomb, a Canadian maker of contact lenses and eyecare products, filed for an IPO.
Why it matters: This could be the first mega-IPO of 2022, with Renaissance Capital estimating that the issuer could raise up to $3 billion.
Sen. Josh Hawley (R-Mo.) plans to introduce his own bill to prevent members of Congress from trading stocks, while Sen. Jon Ossoff (D-Ga.) teams up with fellow Democrat Mark Kelly (D-Ariz.), Axios has learned.
Why it matters: This means there will be now be two similar bills to ban stock trades individually championed by two vastly different lawmakers—further complicating the effort to pass a stock trading ban this session.
Walgreens increased profit projections for the rest of its fiscal year due to surging demand for at-home COVID-19 tests, drive-thru tests and vaccinations amid the latest outbreaks.
The big picture: Pharmacy chains continue to reap massive financial gains from the pandemic, as they often serve as the first place people go when they need a COVID test or vaccine.
If 2021 was the big year for the swarm of at-home traders banding together, 2022 will be the big test for whether they stick around or abandon ship.
Why it matters: The wildest trading phenomenon in recent memory ushered in big changes that have — so far — had a lasting impact.
The S&P 500 recorded 70 closing highs in 2021, according to S&P Global. That's the most for a single year since 1995's 77.
The big picture: The index, widely considered a proxy for the broader market, has recorded at least 10 closing highs every year since 2013.
“Supply chain,” “inflation” and “variant” were among the new top words mentioned at least once on Wall Street calls this year, according to an analysis of transcripts by Sentieo, a research firm.
Why it matters: All the chatter about bottlenecks, rising prices and variant spread that led to more factory shutdowns is another sign of just how big of a headache it was for corporate America (and consumers) this year.
Technology giant Oracle on Monday said it will buy Cerner, one of the largest vendors of electronic health record systems, for $28.3 billion in cash.
Why it matters: Oracle becomes an even bigger health care player, as 25% of all hospitals use Cerner's electronic records system.
Last week's BuzzFeed stock mess, in which ex-employees were unable to sell their sinking shares, put a spotlight on stock transfer agents; essential capital markets players who generally prefer to remain in the shadows.
Why it matters: The stock transfer industry is an oligopoly that hasn't endeared itself to many of the venture capital and private equity funds whose portfolio companies rely upon it. Or, more to the point, I heard all sorts of creative obscenities on Monday when speaking with firm CFOs who normally are loath to return my calls.