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UBS Adjusts General Motors Price Target to $114 From $102, Maintains Buy Rating

General Motors (GM) has an average rating of overweight and mean price target of $102.83, according to analysts polled by FactSet.Price: $85.69, Change: $+0.08, Percent Change: +0.09%

$GM

Wire8d ago

Ellington Financial Plans $100 Million Senior Notes Offering

Ellington Financial (EFC) plans to offer $100 million of 7.375% senior unsecured notes due 2030 through some of its subsidiaries, the company said Monday.The new notes will be issued as additional notes under its existing $400 million offering and will form a single class, Ellington Financial said.Net proceeds will be used for general corporate purposes, including repaying a portion of borrowings under its outstanding repurchase deals and funding purchases of additional assets, the company said.Price: $12.90, Change: $+0.01, Percent Change: +0.04%

$EFC

Wire8d ago

TAT Technologies, Beyond Aero Partner on Thermal Management for Aircraft

TAT Technologies (TATT) partnered with French aerospace company Beyond Aero to support the thermal management architecture of its hydrogen-electric aircraft program, the company said Monday.Under the deal, Beyond Aero is integrating TAT's Universal Cooling System into its ONE aircraft design, providing cooling for electric and hydrogen-electric aircraft while meeting size, weight and performance requirements.Beyond Aero is developing a hydrogen-electric aircraft designed to carry six passengers up to 800 nautical miles, or about 1,500 kilometers, it added.TAT Technologies shares were down 1.7% in Monday trading.Price: $37.67, Change: $-0.79, Percent Change: -2.05%

$TATT

Wire8d ago

UBS Adjusts Designer Brands Price Target to $6.50 From $6, Maintains Neutral Rating

Designer Brands (DBI) has an average rating of Hold and mean price target of $7.75, according to analysts polled by FactSet.Price: $6.54, Change: $+0.66, Percent Change: +11.22%

$DBI

Wire8d ago

UBS Adjusts National Beverage Price Target to $31 From $32, Maintains Sell Rating

National Beverage (FIZZ) has an average rating of Underweight and mean price target of $33, according to analysts polled by FactSet.Price: $31.18, Change: $-0.19, Percent Change: -0.61%

$FIZZ

Wire8d ago

UBS Adjusts Callaway Golf Price Target to $17 From $19, Maintains Neutral Rating

Callaway Golf (CALY) has an average rating of overweight and mean price target of $20.40, according to analysts polled by FactSet.Price: $15.18, Change: $-0.29, Percent Change: -1.84%

$CALY

Wire8d ago

Market Chatter: Oracle Starts New Batch of Workforce Cut

Oracle (ORCL) began another round of layoffs after its workforce cuts earlier this year, Business Insider reported Monday, citing an internal document and three unnamed sources familiar with the matter.An internal document showed that the planned layoffs will affect double-digit percentages for certain teams, according to the news outlet. One of the sources told Business Insider that this round of cuts is expected to start Monday.Oracle did not immediately respond to' request for a comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $141.78, Change: $-8.37, Percent Change: -5.57%

$ORCL

Wire8d ago

Market Chatter: Amazon, Netflix, YouTube Form Streaming Policy Coalition

Amazon.com (AMZN), Netflix (NFLX) and Alphabet's (GOOG, GOOGL) YouTube have formed a new policy coalition to support shared positions on key issues, Axios reported Monday.The Streaming Access and Choice Alliance is led by trade group TechNet with the big three streamers as its founding corporate members, the report said.The companies didn't immediately reply to requests for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $253.63, Change: $-3.15, Percent Change: -1.23%

$AMZN$GOOG$GOOGL$NFLX

Wire8d ago

Boeing, American Airlines Complete First Landing Gear Exchange for 737 MAX Jet

Boeing (BA) and American Airlines (AAL) have completed their first landing gear exchange for a 737 MAX aircraft, the companies said Monday.The effort, which comes under Boeing's Landing Gear Exchange Program, provides customers an alternative to buying and warehousing spare parts, with Boeing supplying overhauled and certified landing gear assemblies with installation kit, excluding wheels, tires and brakes, the companies said.Price: $209.48, Change: $-0.86, Percent Change: -0.41%

$AAL$BA

Wire8d ago

ArcelorMittal's Ukraine Plant Hit by Missile Strike, Halting Primary Steel Production

ArcelorMittal (MT) said Monday a missile attack on its Kryvyi Rih plant in Ukraine killed two contractors, injured two employees, and halted primary steel production.The strike targeted the facility's ironmaking complex, forcing remaining operations to idle or run at minimum capacity, the company said.Damage assessments are ongoing to determine the repair timeline and the work needed to resume operations, ArcelorMittal said.Shares of the company were down 3.7% in Monday trading.Price: $71.77, Change: $-2.73, Percent Change: -3.66%

$MT

Wire8d ago

Amazon, Netflix, YouTube Form Streaming Policy Coalition, Axios Reports

$AMZN$GOOG$GOOGL$NFLX

Wire8d ago

Corteva Board Approves Spin-Off Distribution of Vylor

Corteva (CTVA) said Monday its board has approved the separation of its seed business into an independent public company named Vylor through a pro rata stock dividend.Stockholders of record as of Monday will receive one share of Vylor common stock for every Corteva share held, with the distribution planned for Oct. 1, the company said.Regular-way trading for Vylor shares on the New York Stock Exchange is scheduled to begin on Oct. 1 under the ticker symbol VYLR, it said.Shares of the company were up over 3% in Monday premarket activity.Price: $86.80, Change: $+2.90, Percent Change: +3.45%

$CTVA$VYLR

Wire8d ago

AirJoule Technologies Acquires BitSink for up to $67 million

AirJoule Technologies (AIRJ) said Monday it has acquired data center cooling company BitSink in a deal worth up to $67 million.Under the terms of the deal, AirJoule Technologies acquired 100% of BitSink for an upfront payment of $18 million in cash and $9 million worth of shares.The deal could be bumped up by another $40 million in AirJoule shares if BitSink meets revenue milestones over the three years after the close.Shares of AirJoule were down over 2% pre-bell Monday.Price: $4.16, Change: $-0.12, Percent Change: -2.73%

$AIRJ

Wire8d ago

SK Hynix, Samsung Reportedly Reject $18.58 Billion Power Prepayment Proposal From KEPCO

SK Hynix (SKHY) and Samsung Electronics rejected a 25 trillion won ($18.58 billion) advance payment proposal from the state-run Korea Electric Power, or KEPCO, to support power supplies for planned semiconductor mega clusters, multiple news outlets reported Monday, citing a document submitted to a lawmaker.The companies declined KEPCO's request to fund power infrastructure for new fabrication facilities due to uncertainty surrounding long-term semiconductor demand, the news outlets reported.Shares of the company were down more than 6% in Monday premarket activity.SK Hynix, Samsung Electronics, and Korea Electric Power did not immediately respond to' request for comment.Price: $177.46, Change: $-12.61, Percent Change: -6.63%

$SKHY

Wire11d ago

AstraZeneca Says Late-Stage Etcamah Breast-Cancer Trial Misses Main Goal

AstraZeneca (AZN) said Friday its late-stage trial testing Etcamah with palbociclib, a widely used breast-cancer therapy, did not meet its primary goal of improving progression-free survival.The company said it observed a numerical improvement in first-line treatment of patients with estrogen receptor-positive, HER2-negative advanced breast cancer who had not received any systemic treatment for advanced disease.The trial compared Etcamah plus palbociclib with an aromatase inhibitor plus palbociclib, AstraZeneca said.The safety profile of Etcamah in combination with palbociclib was consistent with the known safety profile of each medicine, the company said.AstraZeneca shares fell 3.3% in after-hours trading.

$AZN

Wire11d ago

Sector Update: Financial Stocks Higher Late Afternoon

Financial stocks were advancing in late Friday afternoon trading, with the NYSE Financial Index rising 0.9% and the State Street Financial Select Sector SPDR ETF (XLF) up 0.7%.The Philadelphia Housing Index was climbing 1.2%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) added 0.7%.Bitcoin (BTC-USD) was increasing 1% to $77,301, and the yield for 10-year US Treasuries rose 3.1 basis points to 4.975%.In economic news, the US consumer price index rose 0.4% month on month, the fastest pace since May and above July's 0.1% gain, the Bureau of Labor Statistics data showed Friday. The move matched the Bloomberg-polled consensus. Core inflation, which excludes the more volatile food and energy components, jumped to a four-month high of 0.3%, exceeding market projections for an unchanged 0.2% growth.The University of Michigan's preliminary consumer sentiment index fell to 47.8 in September from 51.7 in August, larger than an expected decrease to 51.0 in a survey compiled by Bloomberg.In corporate news, Jefferies Financial (JEF) is on track for its best advisory quarter on record, though the strength will have limited pull-through to earnings amid trading headwinds, UBS said in a note. The firm kept its neutral rating on the stock but trimmed its price target to $61 from $65. Jefferies shares were down 3.6%.Blackstone (BX) plans to buy many more tensor processing units from Alphabet (GOOGL) unit Google than initially outlined, The Information reported. The private equity and real estate giant's spending on TPUs could be several "multiples" beyond the $5 billion it announced under a joint venture with Google in May, the report said. Blackstone shares rose 2.4%.KKR (KKR) and Francisco Partners have agreed to buy minority stakes in Italian software company TeamSystem from its main investor Hellman & Friedman, Reuters reported. KKR shares were up 0.2%.Intercontinental Exchange (ICE) warehouses could receive huge volumes of arabica coffee from Brazil, with two trade majors processing the certification of their stocks, Reuters reported. ICE Futures US runs the arabica coffee contract, and majors Olam and Louis Dreyfus are seeking to certify thousands of bags of coffee at the exchange in time for the December contract, sources told Reuters. Olam is processing up to 200,000 bags, according to the report. Intercontinental Exchange shares added 1.1%.

$BX$ICE$JEF$KKR

Wire11d ago

Top Cryptocurrencies Rise; Bitcoin Holds Above $77,000 Level

Major digital assets rose Friday, with Bitcoin (BTC-USD) holding above the $77,000 level.The CoinDesk Market Index, which tracks dozens of digital assets including Bitcoin, rose 0.9% in the past 24 hours. The Nasdaq 100 rose 1%, the S&P 500 added 0.9%, and the Dow Jones Industrial Average increased 1%.Bitcoin gained 0.1% to $77,236, according to CoinMarketCap data. The most popular cryptocurrency's 24-hour trading volume rose 20.8% to $37 billion.Ethereum (ETH-USD), the second-largest digital asset by market value, rose 3% to $2,540.XRP (XRP-USD) gained 0.2%, BNB (BNB-USD) rose 1.3%, and Solana (SOL-USD) increased 1.7%. Dogecoin (DOGE-USD) added 0.3%, while Cardano (ADA-USD) declined 1.8%.The total market value of the cryptocurrency industry rose 0.5% in the past 24 hours to $2.64 trillion, with trading volume rising 20% to $107.54 billion.Price: $77328.41, Change: $+792.46, Percent Change: +1.04%

$ADA-USD$BNB-USD$BTC-USD$DOGE-USD$ETH-USD$SOL-USD$XRP-USD

Wire11d ago

Draganfly Shares Rise After Contract Award to Supply Affordable Drones to Canadian Armed Forces

Draganfly (DPRO) shares were up 3% in Friday trading after the company said it won a contract to supply low-cost tactical intelligence, surveillance and reconnaissance uncrewed aircraft systems to the Canadian Armed Forces.The five-year contract includes a firm commitment for 100 systems, along with the associated ground control stations, payloads, data links, support equipment, documentation, spare parts and training, the company said.Additionally, the Canadian government has the right to order up to an additional 4,900 UAS systems worth up to 24.3 million Canadian dollars ($17.5 million), Draganfly said.Price: $5.64, Change: $+0.17, Percent Change: +3.02%

$DPRO

Wire11d ago

Fortinet Shares Fall After Wedbush Downgrade

Fortinet (FTNT) shares fell nearly 2% in Friday trading after Wedbush downgraded the stock to neutral from outperform, and raised the price target to $155 from $125.Trading volume stood at over 1.3 million shares, compared with daily average volume of 5.3 million.Price: $155.78, Change: $-3.07, Percent Change: -1.94%

$FTNT

Wire11d ago

Varonis Systems Shares Fall After Wedbush Downgrade

Varonis Systems (VRNS) shares fell 1.3% in Friday trading after Wedbush downgraded the stock to neutral from outperform and adjusted its price target to $46 per share from $37.Trading volume stood at over 1.3 million shares compared with a daily average of about 2.1 million.Price: $44.92, Change: $-0.58, Percent Change: -1.27%

$VRNS

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Wire11d ago

Sector Update: Financial Stocks Higher Late Afternoon

$BX$ICE$JEF$KKR