The Securities and Exchange Commission is investigating Eastman Kodak‘s disclosure about getting awarded a $765 million loan from the U.S. government to start producing drug ingredients, which sent the stock up on heavy volume ahead of the official announcement, the Wall Street Journal reported Tuesday. On July 27, a day before Kodak, as well as President Donald
Finance
A summer slump may strike stocks. After the S&P 500 gained 5.5% in July, CFRA’s Sam Stovall sees it falling 5% to 10% over the next two months. “We have a lot of concerns out there — in particular the overbought condition of the market right now, tech and large-cap dominance, the concerns surrounding soaring
Traders work during the closing bell at the New York Stock Exchange (NYSE) on March 18, 2020. Johannes Eisele | AFP via Getty Images U.S. stock futures traded along the flatline on Monday night after the major averages logged in sharp gains to start the new month earlier in the day. Dow Jones Industrial Average
Bloomberg | Getty Images Check out the companies making headlines midday Monday: Nio — U.S.-traded shares of the China-based electric vehicle company jumped more than 10% after Nio reported July delivery figures. The company said that July deliveries jumped 322% year over year to 3,533 vehicles. Through the end of July the company has delivered
A pedestrian walks past illuminated signage for HSBC Holdings Plc displayed outside a bank branch in the Central district of Hong Kong, China. Anthony Kwan | Bloomberg | Getty Images HSBC is expected to report a sharp fall in earnings for the first half of 2020 as a result of the economic hit from the
Chinese President Xi Jinping (R) waves to the press as he walks with US President Donald Trump at the Mar-a-Lago estate in West Palm Beach, Florida, April 7, 2017. Jim Watson | AFP | Getty Images Both the U.S. and China have to “step up to the plate” and provide global leadership at a time
College students have been hit doubly hard by the coronavirus pandemic, and face disruptions to both their studies and job prospects. With hiring stalled at many companies — and more still operating remotely — many new graduates have been forced to put their career ambitions on hold. But those interested in a career in finance may have
Chevron reported an $8.3 billion loss in the second quarter as the coronavirus pandemic “significantly reduced demand.” Amid a historic drop in oil prices, the company’s average price per barrel of oil and natural gas liquids dropped more than 60% year-over-year. The oil giant lost $1.59 per share on an adjusted basis, while revenue came
Fuel prices are displayed at an Exxon Mobil Corp. gas station in Arlington, Virginia, U.S., on Wednesday, April 29, 2020. Andrew Harrer | Bloomberg | Getty Images Exxon said on Friday that it lost $1.1 billion during the second quarter amid “global oversupply and COVID-related demand impacts.” It was the oil giant’s second straight quarter of
The U.S. economy will face great risk if lawmakers do not step up and stave off a looming, far-reaching eviction crisis, an economist with mortgage aggregator LendingTree told CNBC on Friday. With eviction moratoriums lifting across the country, landlords could eventually default on mortgages and the coronavirus pandemic could worsen in the country if tens
Protesters gather at a July 22 rally in Boston in support of legislation to block evictions in Massachusetts for up to a year. Boston Globe | Boston Globe | Getty Images If you’re facing eviction during the pandemic, you’re definitely not alone. Up to 40 million Americans may lose their homes in this downturn, four times the
A Monzo debit card being used at a payment terminal. Monzo British digital bank Monzo said Thursday that its annual losses more than doubled and warned its ability to continue operating had become more uncertain due to the coronavirus pandemic. The start-up reported an annual post-tax loss of £113.8 million ($149.5 million) in its 2020
A woman works at a distrubiton station at the 855,000-square-foot Amazon fulfillment center in Staten Island, New York, on February 5, 2019. Johannes EIsele | AFP | Getty Images Check out the companies making headlines after the bell: Facebook — The social media giant’s stock surged 6% in extended trading following the release of the company’s
Residents take pictures and explore the catastrophic damage to downtown Sanford following extreme flooding throughout central Michigan on May 20, 2020 in Sanford, Michigan. Matthew Hatcher | Getty Images As much as 20% of global gross domestic product could be threatened by coastal flooding by the end of the century if no action is taken,
Automated teller machines of the three Singapore-listed banks: OCBC, DBS and UOB. Munshi Ahmed | Bloomberg | Getty Images Shares of Singapore’s top three banks tumbled in early trade Thursday after the country’s financial regulator asked lenders to cap dividends this year in light of the economic uncertainty, due in part to the coronavirus pandemic.
A cyclist passes by the New York Stock Exchange in New York, on May 26, 2020. Wang Ying | Xinhua News Agency | Getty Images U.S. stock futures rose on Wednesday night following a session in which the major averages posted solid gains as the Federal Reserve pledged to maintain current stimulative measures. Dow Jones
The Robinhood crowd has a new favorite speculative stock: Eastman Kodak. In the last 24 hours, more than 20,000 users have added the stock to their portfolio, making it by far the most popular stock on the millennial-favored trading app according to data from Robintrack, which tracks user activity but is not affiliated with the
Check out the companies making headlines after the bell: Starbucks — Shares of the coffee giant jumped 5% in extended trading after the company posted its third-quarter financial results. The company reported a third-quarter loss of 46 cents per share excluding some items on revenues of $4.22 billion. Analysts surveyed by Refinitiv expected as a loss of
In this photo illustration, the TransferWise app is seen displayed on an Android smartphone with a vintage turntable in the background. Guillaume Payen | SOPA Images | LightRocket | Getty Images Fintech start-up TransferWise is now valued at $5 billion following a secondary share sale, the company announced Wednesday, highlighting increased investor appetite for online
Take a look at some of the biggest movers in the premarket: McDonald’s (MCD) – The restaurant chain reported quarterly profit of 66 cents per share, shy of the 74 cents a share consensus estimate. Revenue came in above Wall Street projections. Comparable-restaurant sales were down 23.9% globally, slightly wider than the 22.8% consensus estimate.