The Federal Trade Commission said Wednesday that Shutterstock (SSTK) will pay $35 million to settle allegations it illegally made tens of millions of dollars from a wide range of deceptive and unfair practices.
The FTC alleged that Shutterstock charged consumers for products without their informed consent and made it difficult to cancel subscriptions.
Shutterstock didn't immediately reply to a request for comment from.
Price: $15.74, Change: $-0.32, Percent Change: -1.99%
Ford Motor (F) shares rose 13% in Wednesday trading after Morgan Stanley said the company had a "fairly high likelihood" of signing energy-storage solutions supply agreements with large commercial customers, including hyperscalers, in the next few months.Ford's licensing agreement with China's Contemporary Amperex Technology, or CATL, is a "key competitive differentiator" that is not fully understood by investors and has been overlooked, Morgan Stanley said Tuesday in a report.The technology licensed from CATL, which is the world's premier energy storage manufacturer, offers Ford the opportunity to allocate capital into a strategic growth area and participate in a fast-growing and relatively high-margin energy-storage market, the report said.Morgan Stanley estimates Ford Energy could generate $500 million to $600 million of run-rate EBIT at 20 GWh of production, with potential upside if capacity expands to meet demand.Ford is set to become one of the US suppliers compliant with the Foreign Entity of Concern rule with proven technology, allowing it to qualify for a 30% investment tax credit, which is an underappreciated competitive advantage, the report said.Morgan Stanley has an equal-weight rating on Ford stock with a price target of $14.Price: $13.59, Change: $+1.60, Percent Change: +13.30%
BeOne Medicines (ONC) said Wednesday the US Food and Drug Administration has granted accelerated approval to Beqalzi for the treatment of adults with relapsed or refractory mantle cell lymphoma, after at least two lines of systemic therapy.The company said continued approval for this indication is contingent upon confirmation of clinical benefit in the confirmatory trial, which is underway.Price: $317.94, Change: $+2.87, Percent Change: +0.91%
B. Riley adjusted its price target on Vishay Precision Group (VPG) to $109 from $63 while maintaining the stock's buy rating.Shares advanced 18%, with intraday trading volume at over 846,000 from a daily average of about 248,000.Bank of America raised its price target on Coherent (COHR) to $400 from $365, while keeping its neutral rating.Shares advanced 10% as intraday trading volume stood at 4.67 million, compared with a daily average of about 7.58 million.Alibaba (BABA) shares rose 8% amid heavy trading after the company reported a year-over-year jump in fiscal Q4 revenue on Wednesday.More than 30.0 million shares traded intraday compared with a daily average of about 10.5 million.Price: $101.06, Change: $+15.49, Percent Change: +18.10%