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…
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…
VIce Media had been built on a wobbly house of financial cards for years, but the final blow that sent the company into bankruptcy came when one of its foreign partners failed to make a key payment at the beginning of the year. The partner, Greece’s Antenna Group, had been engaged for months in talks…
SYDNEY — Newcrest Mining NCM, +1.52% said it has agreed to a $17.5 billion takeover by Newmont NEM, +0.13%, extending a wave of deals in the sector as global miners seek to boost their exposure to metals like copper and gold. Newcrest said on Monday that it recommends shareholders vote in favor of Newmont’s offer,…
George Soros’s Soros Fund Management placed new bets on railroads and the gig economy during the first quarter, recalibrated its holdings in a struggling media industry and dumped electric-vehicle maker Tesla Inc. During the first quarter, the fund scooped up 363,483 shares of railroad operator CSX Corp. CSX, +0.09%, according to a filing. The fund…
SoFi Technologies Inc. Chief Executive Anthony Noto continues to be a buyer of his company’s stock. Noto purchased 30,000 more shares of SoFi SOFI at an average price of $5.1171 on Friday, according to a filing with the Securities and Exchange Commission released Monday. He paid $153,513 in the transaction. That was in addition to…
Thirteen months ago, the DraftKings Inc. DKNG stock was in a rut. It was down 43% over the previous three months, and down 72% over the previous year. This prompted CEO Jason Robins to fire off an infamous tweet suggesting that people would regret selling the company’s stock. “That was really meant more for my…
Apple Inc.’s investors showed enthusiasm after the company beat on earnings Thursday and announced billions more dollars on their way to shareholders, but they may have missed some important guidance. Apple AAPL, -0.99% shares gained more than 2% in after-hours trading Thursday, as iPhone sales grew unexpectedly and analysts heaped praise on the most valuable…
Apple Inc. on Thursday revealed surprise growth in its iPhone business during the first three months of the year, overcoming a shortfall in Mac revenue as the company promised investors billions more in dividends and stock repurchases. Apple AAPL, -0.99% shares gained between 1% and 2% in after-hours trading immediately following the release of the…
Western Alliance Bancorp, PacWest Bancorp and First Horizon Corp. posted steep losses Thursday as clouds hung over the banking sector a day after the U.S. Federal Reserve hiked interest rates by a quarter-point. First Horizon FHN, -34.05% dropped 36% after it said its merger with Toronto-Dominion Bank TD, +0.98% TD, +0.16% would not close, some…
Stock-market investors didn’t get much time to enjoy a brief period of relief for stocks following JPMorgan Chase & Co.’s takeover of First Republic Bank. The seizure on Monday of troubled First Republic FRC and the subsequent takeover by JPMorgan Chase JPM failed to arrest a slide in U.S. regional bank stocks on Tuesday, as…
BP on Tuesday reported a rise in first-quarter underlying replacement cost profit, beating expectations, and declared an additional $1.75 billion share buyback. The British oil-and-gas major BP UK:BP made an underlying replacement cost profit of $4.96 billion in the three months through to the end of March, up from $4.81 billion in the previous quarter…
Astellas Pharma Inc. said Monday that it agreed to acquire Iveric bio Inc. for about $5.9 billion to strengthen its capabilities in the ophthalmology field. The Japanese drugmaker JP:4503 said it would fund the planned acquisition with about 800 billion yen of bank loans and commercial papers, in addition to existing cash on hand, and…
As the Nasdaq exchange prepares to delist shares of Bed Bath & Beyond Inc., following the company’s filing for Chapter 11 bankruptcy protection, some retail traders are taking to Reddit to commiserate about their losses, while others say they are doubling down and continuing to buy as the share price sinks further below 25 cents….
UBS Group AG said Tuesday that earnings declined in the first quarter, hurt by litigation, but that the bank drew in billions in net new money at its global wealth-management business following the news of its acquisition of Credit Suisse Group AG. The Swiss bank UBS, +1.33% UBSG, +0.78% said its result was affected by…
The specter of bankruptcy had loomed over Bed Bath & Beyond Inc. for months before the home-goods retailer filed for Chapter 11 on Sunday. Bed Bath & Beyond’s BBBY stock fell 37.1% Monday on volume of 376.82 million shares, well above the stock’s 65-day average of 105.6 million. Stocktwits, a social platform for investors and…
Silver Lake is acquiring Software AG for about 2.2 billion euros ($2.42 billion), the German software maker said Friday. The deal values Software AG XE:SOW at EUR30 per share. The Software AG Foundation supports the deal and is selling a 25.1% stake to Silver Lake, it said, noting that Silver Lake aims to delist Software…
Merck & Co.’s $10.8 billion acquisition of Prometheus Biosciences Inc., which it announced Sunday, is a strategic positive that will help the drug company diversify its portfolio and reduce the risk of an overreliance on its cancer drug Keytruda, analysts said Monday. San Diego, Calif.-based Prometheus RXDX, +69.37% is a clinical-stage biotechnology company focusing on…
U.S.-traded shares of Alibaba Group Holding Ltd. sank Wednesday following a report that SoftBank Group Corp. has moved to sell most of its stake in the Chinese tech giant. Citing an analysis of regulatory filings, the Financial Times reported Wednesday that Japan’s SoftBank JP:9984 has sold about $7.2 billion in Alibaba shares this year through…
Shares of WW International Inc. WW, +47.55%, the parent of Weight Watchers, soared on heavy volume Tuesday after the weight-management and wellness company said the deal to buy the telehealth company doing business as Sequence has been completed. The acquisition of Sequence, which is part of Weekend Health Inc., provides WW with a prescriber of…