Market
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WeWork founder and former CEO Adam Neumann makes bid for company
Cindy Ord/Getty Images Entertainment Adam Neumann, the founder and former CEO of WeWork (OTC:WEWKQ), has made a more than $500M bid to buy back his former company, according to a media report. Although Neumann stepped down as CEO and gave up his majority voting control in September 2019, reports are he has wanted to get back in the saddle of…
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Crude oil climbs near five-month high; top oil execs rip calls for fast energy transition
SlavkoSereda/iStock via Getty Images Crude oil futures rose Monday to settle at their highest since late October, as Ukrainian drone attacks on Russian refineries are believed to have idled a significant chunk of Russia’s refining capacity, and Chinese industrial production for January-February exceeded expectations. “Preliminary estimates suggest ~15% of Russia’s refining capacity has been disrupted in recent days, potentially leading…
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Cassava Sciences again under scrutiny over Alzheimer’s drug research
hapabapa A lab run a City University of New York (CUNY) scientist with ties to Cassava Sciences (NASDAQ:SAVA) and its Alzheimer’s candidate simufilam was flagged with a multitude of issues during a September 2022 US FDA inspection. In that lab, Hoau-Yan Wang and his associates had evaluated samples of blood and cerebrospinal fluid from individuals who had been taking part…
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AeroVironment’s stock soars with quarterly profit (NASDAQ:AVAV)
James Rolevink/iStock Editorial via Getty Images AeroVironment’s (NASDAQ:AVAV) stock jumped 18% in extended trading Monday after the maker of military drones and unmanned vehicles swung to a profit on better-than-estimated revenue. For its fiscal third quarter, AeroVironment (AVAV) reported net income of $13.9 million, or $0.50 a share, to contrast with a loss of $676,000, or $0.03 a share, a…
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Aaron’s limps through after-hours trade on Q4 loss, downbeat 2024 guidance (AAN)
Shares of The Aaron’s Company (NYSE:AAN) are in a freefall in after-hours trade as the company’s swung to a loss in the fourth quarter and projected a loss for 2024 that is significantly worse than Street expectations. The company reported a loss of $0.26 per share on a 10.2% drop in revenue to $529.5M. This compares to a profit of…
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Bayer to slash dividend by 95% to reduce its debt
NoDerog Bayer AG (OTCPK:BAYZF) plans to shrink its dividend by 95% as it works to reduce debt. Bayer shares rose about 1% in Germany on Monday after the dividend cut was disclosed. The German healthcare and crop sciences conglomerate said it will reduce its dividend policy to pay out the legally required minimum for three years, according to a statement…
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JetBlue stock soars after Icahn discloses stake
JetBlue stock soars after Icahn discloses stake Source link
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Flywire gets Buy rating from Deutsche after recent weakness (NASDAQ:FLYW)
pp76/iStock via Getty Images Deutsche Bank analyst Nate Svensson started coverage of Flywire Corp. (NASDAQ:FLYW) stock with a Buy rating on Monday after recent selling pressure has created a good buying opportunity for investors. Since the start of 2024, FLYW has shed 7.3%. From a year ago, the stock retreated 19.6%. At five times his 2025 EV/gross profit estimate, FLYW…
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Gilead invests $320M in Arcus, expands stake to 33% (NYSE:RCUS)
Sundry Photography Arcus Biosciences (NYSE:RCUS) shares jumped 16% in post-market trading Monday following news that partner Gilead Sciences (NASDAQ:GILD) has increased its stake in the company to 33% to help accelerate their joint development programs. Gilead upped its stake by buying $320M shares of Arcus at $21 per share. The deal entitles Gilead to an additional seat on Arcus’s board,…
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