Check out the companies making headlines in midday trading: Bristol-Myers Squibb — The drug maker jumped more than 3% after the U.S. Food and Drug Administration approved a highly anticipated schizophrenia drug , the first novel type of treatment for the chronic mental disorder in more than seven decades. Bristol-Myers Squibb expects the twice-daily pill,…
Check out the companies making headlines in premarket trading. Bristol-Myers Squibb — The biopharmaceutical stock jumped 5.3% after the Food and Drug Administration approved Cobenfy as a treatment of schizophrenia for adults. It marks the first new type of treatment for the mental disorder in several decades. Novo Nordisk – U.S.-listed shares of the Danish…
OpenAI’s Sora AI tool allows users to create AI-generated videos from text-based inputs. Costfoto | Nurphoto | Getty Images OpenAI CFO Sarah Friar is looking to reassure its investors that the richly valued artificial intelligence startup is still in a strong position and is poised to close a big funding round soon, despite losing top…
Check out the companies making headlines in midday trading. Micron Technology , chip stocks — Shares surged nearly 13% after the memory chipmaker issued strong guidance as the rise of AI heightens demand for its products. Other chip stocks rose alongside, with Applied Materials , ASML Holding and Lam Research last up about 4% each.…
Billionaire hedge fund founder David Tepper said his big bet after the Federal Reserve’s rate cut was to buy Chinese stocks. “I thought that what the Fed did last week would lead to China easing, and I didn’t know that they were going to bring out the big guns like they did,” Tepper told CNBC’s…
David Tepper, founder and president of Appaloosa Management. David Orrell | CNBC Appaloosa Management’s David Tepper said investors should believe the Federal Reserve when it says it will lower interest rates because the central bank has now to keep credibility. “You just read what these guys are saying,” Tepper said on CNBC’s “Squawk Box” Thursday.…
Check out the companies making headlines before the bell. Starbucks — The coffee chain rose more than 2% after Bernstein upgraded the stock to outperform from market perform. The firm is bullish on new CEO Brian Niccol who began on Sept. 9. New York Community Bancorp — Shares of the regional lender gained more than…
A sign on the exterior of a BNP Paribas SA bank branch in Paris, France, on Friday, Aug. 2, 2024. Bloomberg | Bloomberg | Getty Images France’s BNP Paribas on Thursday said there are simply too many European lenders for the region to be able to compete with rivals from the U.S. and Asia, calling…
“Buy-now, pay-later” firm Klarna aims to return to profit by summer 2023. Jakub Porzycki | NurPhoto | Getty Images Swedish firm Klarna is partnering up with Dutch payments fintech Adyen to bring its popular buy now, pay later service into physical retail stores. The company said Thursday that it had entered into an agreement with…
Check out the companies making headlines after the bell : Micron Technology — The semiconductor manufacturer soared 13% after issuing strong guidance for the current quarter. The company sees fiscal first-quarter adjusted earnings coming in at roughly $1.74 per share and revenue of around $8.70 billion. Analysts polled by LSEG called for earnings per share…
