Check out the companies making headlines in midday trading: Nio — The U.S.-listed shares of the Chinese electric vehicle maker climbed 9.5% after Nio announced a 13.3 billion yuan cash injection for its Nio China business. The transactions are expected to be completed by year-end, and will reduce Nio Inc.’s stake in Nio China to…
A shareholder at a securities hall in Hangzhou, the capital of Zhejiang province in east China, on Sept. 24, 2024. Cfoto | Future Publishing | Getty Images China stocks rallied to their best day in 16 years, with related U.S. ETFs also soaring after recent economic stimulus buoyed investor optimism in the market. The Shanghai…
China’s President Xi Jinping speaks during an awards ceremony at the Great Hall of the People in Beijing on Sept. 29, 2024, ahead of China’s National Day. Adek Berry | Afp | Getty Images BEIJING — Chinese President Xi Jinping said Monday that no challenges can stop the country from moving forward and reiterated Beijing’s…
Check out the companies making headlines before the bell. Nio – U.S.-listed shares surged more than 13% after the Chinese electric vehicle maker announced it will receive a cash injection of 13.3 billion yuan for its Nio China. “Strategic investors” will provide 3.3 billion yuan of that injection, with the rest coming from Nio Inc.…
Blockchain technology and tokenization could challenge the traditional ETF model. Janus Henderson said recently that it’s partnering with Anemoy Limited and Centrifuge to create Anemoy’s Liquid Treasury Fund (LTF), an on-chain technology-based fund that will give investors direct access to short-term U.S. Treasury bills. “It’s not necessarily a threat to the ETF industry,” Nick Cherney,…
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…
