(Bloomberg) — China Evergrande Group bondholders are about to find out if the property giant’s liquidity crisis is as dire as it appears.Interest payments on two Evergrande notes come due Thursday, a key test of whether the developer will continue meeting obligations to bondholders even as it falls behind on payments to banks, suppliers and…
The GameStop phenomenon hit corporate America in the coffers this week. On Sept. 16, MassMutual paid a $4 million fine to settle a litigation with Massachusetts securities regulators, according to a Wall Street Journal report. The financial-services company got busted for not properly supervising Keith Gill, the 34-year-old MassMutual employee and YouTuber, who went by the…
Dow Jones futures fell slightly Thursday night, along with S&P 500 futures and Nasdaq futures. The stock market rally initially retreated Thursday but closed narrowly mixed, holding Wednesday’s rebound from key levels. A number of stocks flashed buy signals. Palantir Technologies (PLTR) followed through on Wednesday’s move. and Applied Materials (AMAT) flashed early buy points.…
General Electric (GE) is in the midst of a restructuring process, with a focus on reducing its debt load and pivoting the company toward a leaner and simpler business model.The industrial giant recently provided investors with an update on its outlook and GE skeptic J.P. Morgan’s Stephen Tusa has been sifting through the details.“The update…
(Bloomberg) — Microsoft Corp., the world’s largest software maker, appointed President and Chief Legal Officer Brad Smith as vice chair and unveiled a new stock-repurchase program of as much as $60 billion.Smith, who joined Microsoft in 1993 and became general counsel in 2002, will continue to report to Chairman and Chief Executive Officer Satya Nadella,…
A bill establishing electric vehicle (EV) purchase credits that provides incentives for unionized factories has riled car manufacturers. The company most incensed by it is electric vehicle (EV) pioneer Tesla, Inc. (TSLA). In tweets over the weekend, the company’s high-profile CEO Elon Musk said the bill, introduced last Friday, was written by lobbyists from Ford…
After commencing exploration drilling in offshore Guyana in 2015 the world’s second largest publicly listed oil company by market cap ExxonMobil experienced stunning success. In little more than six years Exxon has made 22 high-quality oil discoveries in the 6.6-million-acre Stabroek Block, the latest being at the 5,938 feet Pinktail well, located nearly 22 miles…
Does Bitcoin’s recent flash crash mean Warren Buffett is right to hate crypto?The past month and a half has been bumpy for Bitcoin.After a bully first quarter of 2021 that led to an all-time peak of $63,000 per unit in mid-April, the world’s leading digital currency now hovers around $45,000, thanks in large part to…
A rocky week in the markets has traders, investors, and strategists at Defcon 2, peering into the horizon for the enemy—a stock market correction. But while there are some troubling signals, corrections—drops of 10% from recent highs—don’t just happen, just like bull markets don’t die of old age. There has to be a reason. The…
Updated Sept. 9, 2021 7:01 pm ET / Original Sept. 9, 2021 12:22 pm ET Order Reprints Print Article A sign for biotechnology company, Biogen, Inc. is seen on a building in Cambridge, Massachusetts, Dominick Reuter/AFP via Getty Images Text size Biogen stock dropped sharply Thursday after the biotech giant said in a presentation that…
(Bloomberg) — Sea Ltd. aims to raise $6.3 billion in the largest equity offering of the year, a deal that will propel a global expansion and acquisitions for Southeast Asia’s largest company.The online gaming and e-commerce firm backed by Tencent Holdings Ltd. is offering 11 million shares, a stake worth about $3.8 billion at Wednesday’s…
Updated Sept. 7, 2021 5:43 pm ET / Original Sept. 7, 2021 4:57 pm ET Order Reprints Print Article Text size Przemyslaw Ceglarek/Dreamstime It should have been a happy day for Bitcoin, but it’s turned into a rout. Bitcoin (ticker: BTC) was trading was around $47,000 on Tuesday afternoon, down 9% in the last 24…