SentinelOne Inc.’s stock suffered its worst day since its initial public offering as the cybersecurity company struggles to find new business amid a tough business spending environment, prompting one analyst to downgrade the stock. Not only did SentinelOne shares S, -35.14% on Friday experience their worst one-day percentage drop ever, but also they nearly closed…
In a largely symbolic vote, Netflix Inc. shareholders on Thursday rejected lucrative compensation packages for the streaming company’s top executives. Netflix’s NFLX, +2.00% board had unanimously recommended the pay packages, and can overrule the vote the next time it meets. The Writers Guild of America, whose members are striking over issues that include pay, had…
Shares of Bumble Inc. slumped Wednesday after the announcement that President Tariq Shaukat will step down from his position in September. Shaukat will remain in an advisory role for the transition after he resigns Sept. 1, Bumble said in a regulatory filing, noting his departure is voluntary. The company said it will start a search…
The impact of organized retail crime has been a subtheme of earnings season in the retail sector, with BJ’s Wholesale Club Holdings Inc. CEO Bob Eddy the latest executive to weigh in on the issue. “Organized retail crime is definitely a thing,” he said, during a conference call to discuss the company’s first-quarter results Tuesday….
With shares more than doubling this year, Meta Platforms META, +0.18% seems to be a stock that just won’t quit. But given the choice, investors may want to consider digital-advertising competitor Alphabet GOOGL, -0.75% GOOG, -0.63% instead. Sure, Facebook parent Meta Platforms topped earnings expectations and posted bullish guidance. Yet just after celebrating those results, investors…
Citigroup Inc. announced Wednesday that it decided to pursue an initial public offering (IPO) of its “Banamex” consumer, small business and middle-market banking operations in Mexico. The banking giant said the business will keep its name Banco Nacional de México (Banamex) after the IPO, which is expected to take place in 2025. The IPO will…
Financial Literacy Month puts a spotlight on the financial knowledge Americans are supposed to know and often don’t. But what about financial knowledge that we think we know, but should reconsider? When it comes to money, we pick up lessons from a mish-mash of sources ranging from parents to TikTok videos to high school classes….
Shares of Paramount Global Inc. were popping 5% in premarket trading Friday after the media company’s controlling shareholder announced that it received a $125 million investment. National Amusements, which is the majority voting shareholder of Paramount PARA, -3.83%, struck a deal with BDT Capital Partners for the $125 million preferred equity investment, according to a…
PacWest Bancorp will sell its real-estate lending arm to Roc360, as the beleaguered regional bank moves to refocus on its core business. The deal, first reported late Tuesday by the Wall Street Journal, comes a day after Los Angeles-based PacWest PACW, +7.74% unveiled a plan to sell a $2.6 billion portfolio of real-estate construction loans….
Here are some of the more prominent movers on Tuesday: Stock gainers: Lowe’s Companies Inc.’s stock LOW, +2.18% jumped 1.7% in afternoon trading, after the home improvement retailer beat fiscal first-quarter profit expectations. While same-store sales fell more than forecast, they outperformed rival Home Depot Inc. HD, +1.75%, and the lowered full-year profit guidance range…
Canopy Growth Corp.’s U.S.-listed stock rose 7% Monday after the Canadian cannabis company outlined its latest steps to enter the U.S. market while complying with Nasdaq listing requirements. The company said it has filed a revised proxy statement with the U.S. Securities and Exchange Commission updating its strategy to accelerate entry to the U.S. cannabis…
Diversity, Equity and Inclusion (DEI) has been one of the key corporate themes of recent years, but female CEOs remain a rarity at America’s largest banks. The issue of C-suite diversity has been thrust into the spotlight following news that James Gorman is planning to step down as CEO of Morgan Stanley MS, +0.04%. Attention…
JPMorgan Chase & Co. Chief Executive Jamie Dimon on Monday said he plans on hanging around at the top spot and that the bank’s plans surrounding his time in the role were the same, following high-profile CEO departures among some of its rivals. As an analyst began to ask how many more years he planned…
“‘I’ve always told people there is nobody who can really pick the market on a short-term or an intermediate-term basis. Maybe I made the mistake of not adhering to my own advice in recent years.’” — Carl Icahn, activist investor That’s Carl Icahn, legendary activist investor and billionaire, admitting in a Financial Times interview that…
Shares of American Airlines Group Inc. and JetBlue Airways Corp. dropped late Friday after a U.S. judge sided with the Justice Department in a lawsuit aimed at undoing the airlines’ joint venture in airports in the Boston and the New York City areas. In separate statements, both JetBlue JBLU, -1.80% and American Airlines AAL, -1.53%…
This story has been updated to reflect that the Fitch debt downgrades on PacWest, Trustmark and Western Alliance took place in April. Credit rating agency Fitch Ratings on Thursday said it completed a review of the debt of 14 small and mid-sized banks in its coverage and said no further downgrades appear to be needed…
“ To stay in business, these banks did the only thing they could. ” In the wake of the failures of Silicon Valley Bank, Signature Bank and Republic National Bank, a common misconception is that these banks failed because they grew too quickly. On Tuesday, former Silicon Valley Bank CEO Greg Becker testified in a U.S….
Failed crypto exchange FTX is suing co-founder and former Chief Executive Sam Bankman-Fried and others, seeking to claw back about $240 million related to the company’s acquisition of stock-trading platform Embed. In a filing Wednesday in U.S. Bankruptcy Court in Delaware, FTX claimed Bankman-Fried and others — including FTX co-founders Zixiao Wang and Nishad Singh…
Bath & Body Works Inc.’s stock soared 9% Thursday, after the retailer posted better-than-expected fiscal first-quarter earnings and raised its bottom-line guidance. The move put the stock on track for its biggest one-day percentage gain since Jan. 4, when it rose 10.5%. It’s now up for five of the past six days. The volume of…
Looks like Nintendo has another hit on its hands. The long-awaited “Breath of the Wild” sequel, “The Legend of Zelda: Tears of the Kingdom,” sold more than 10 million units worldwide in the first three days following its May 12 release, Nintendo NTDOY, +0.37% announced Wednesday. This makes it not only the fastest-selling game in…