Finance and markets: business, quotes, gold, energy and releases.
Found 2168 articles
A frantic morning of premarket gains evaporated by Friday’s regular session, leaving rocket and satellite stocks deep in the red. The sector-wide retreat unfolded just hours before SpaceX’s historic market entry, an offering expected to reach a staggering $1.77 trillion valuation in the largest IPO on record.
A 41% premium over Thursday’s closing price anchors the acquisition of Grandville-based Grand River Commerce by Mt. Pleasant’s Isabella Bank. The $54.6 million agreement, structured through a blend of cash and equity, signals a significant consolidation for the Michigan banking sector as both institutions prepare to integrate their regional operations.
Anticipation surrounding the largest initial public offering in history has sent waves through the aerospace sector. As SpaceX prepares to begin trading at a valuation of $1.77 trillion, investors are aggressively repositioning their portfolios, driving significant gains across a range of rocket and satellite-linked companies on Friday.
Momentus shares tumbled 18% in premarket trading Friday, hitting $13.34 as investors reacted to the commercial space company’s announcement of a $25 million equity offering. The move effectively cools a sustained three-month rally for the orbital infrastructure firm, which is now looking to bolster its cash reserves through institutional backing.
Shares in Virgin Wines UK plummeted 13% to 29 pence on Friday, marking a 16-month low for the online retailer. The company warned of a full-year earnings miss, citing a combination of cooling consumer demand and rising costs exacerbated by the ongoing conflict in the Middle East.
After abandoning a search for a buyer, luxury lodging firm Braemar Hotels & Resorts is ending its advisory agreement with Ashford to operate as an independent, self-managed REIT. The move marks a fundamental shift in corporate structure aimed at slashing costs and sharpening the focus on its high-end portfolio.
The Phase 3 Lagoon trial for lurbinectedin, marketed as Zepzelca, failed to meet its primary endpoint of overall survival in patients with relapsed metastatic small cell lung cancer. Jazz Pharmaceuticals reported the drug did not outperform standard chemotherapy options when administered as either a monotherapy or in combination with irinotecan.
Triple Flag Precious Metals is expanding its Australian footprint, securing a $440 million cash deal for a gold stream at the Ravenswood mine in Queensland. The agreement, set to begin deliveries in the third quarter of this year, serves as a catalyst for a significant upward revision of the company’s long-term production outlook.
The parent company of the Toronto Stock Exchange is betting $490 million on the index provider RAFI Indices, a strategic pivot designed to triple its assets under indexing to $263 billion and diversify its revenue streams away from the volatility of traditional trading and clearing operations.
A 6.5% jump in sales failed to shield Roots from a deepening quarterly deficit, as the Canadian retailer grapples with transition expenses and the ongoing costs of a strategic review. The company reported a net loss of C$10.1 million for the first quarter, up from C$7.9 million during the same period last year.
A 6.5% spike in Rocket Lab shares highlights the market's reaction to Nasdaq’s sweeping index reshuffle. Starting June 22, the exchange will drop five established firms to accommodate a new cohort of entrants, leveraging a rule change designed to accelerate the inclusion of high-growth technology companies.
A faulty engine component is forcing Ford Motor to recall over 250,000 Focus vehicles, as regulators determine that a previous safety fix failed to address the underlying mechanical defect. The National Highway Traffic Safety Administration confirmed that the affected 2012-2018 models remain at risk of unexpected stalls while in motion.
A 17% plunge in share price greeted news that Richtech Robotics must restate financial statements for fiscal 2024 and 2025. The company uncovered systemic accounting errors spanning two years, forcing a comprehensive review of its previously reported balance sheets and interim quarterly filings.
Tokyo-based JSB Co. Ltd. posted a net profit of 6.65 billion yen for the first half of fiscal year 2026, marking a significant increase from the 5.17 billion yen recorded during the same period last year. The results reflect steady growth across the company’s core operational metrics as of April 30.
A 50 billion won investment in SpaceX ignited a rally for Hanmi Semiconductor on the Seoul exchange, with shares climbing 24% by Friday’s close. The move aligns the Korean manufacturer with Elon Musk’s aerospace giant just as the company prepares for a Nasdaq debut that marks a record-breaking IPO valuation.
A 14.5 percent surge in net profit highlights the latest nine-month financial results for Sakurasaku Plus, as the Tokyo-listed company reached 834 million yen for the period ending April 30. Despite a slight contraction in overall revenue, the firm successfully bolstered its bottom line compared to the previous year's 728 million yen.
A 30 percent slide in net profit defines Azearth Corp’s fiscal year ending April 30, despite the company squeezing out a modest revenue gain. The Tokyo-listed firm reported net income of 138 million yen, a significant contraction from the 199 million yen recorded in the previous fiscal period.
Diego Perrone takes the helm as chief strategy officer at Electrolux starting July 8, stepping into a role previously held by Vincent Rotger. Reporting directly to CEO Yannick Fierling, Perrone assumes responsibility for the company’s business strategy and mergers and acquisitions as it maneuvers through a period of intense market volatility.
A 1.2% climb in the Stoxx Europe 600 set a brisk pace for continental exchanges, diverging from the listless sentiment currently gripping U.S. markets. While Wall Street futures remain tepid, investors across Asia and Europe are betting on a broader recovery, despite a sharp decline in energy benchmarks.
TBC SCAT Inc. reported a net profit of 66 million yen for the half-year ending April 30, 2026, marking an increase from the 58 million yen recorded during the same period last year. The Japanese firm’s latest financial results reflect steady growth across its core operational metrics.
A 139 percent surge in net profit highlights the fiscal year ending April 30 for Tokyo-based manufacturer Kikuchi Seisakusho Co. The company reported earnings of 103 million yen, a sharp recovery from the 43 million yen recorded in the previous annual period, despite persistent challenges in its core operating margins.
Nitto Seimo Co. reported a net profit of 680 million yen for the fiscal year ending April 30, 2026, marking a significant rise from the 534 million yen recorded in the previous year. The results, calculated under Japanese accounting standards, reflect a shift in the company's bottom-line performance despite varied operational metrics.
Sanno Co. Ltd. saw its net profit surge to 1.46 billion yen for the nine months ending April 30, a sharp increase from the 629 million yen reported during the same period a year ago. The results, prepared under Japanese accounting standards, reflect a significant expansion in the company's financial performance.
Smaregi Inc. reported a significant surge in annual earnings for the fiscal year ended April 30, with net profit reaching 2.23 billion yen compared to 1.65 billion yen in the previous period. The Tokyo-listed company saw its revenue climb to 13.35 billion yen, up from 11.07 billion yen a year earlier.
Tokyo-based Poletowin Pitcrew Holdings reported a net profit of 180 million yen for the first quarter ended April 30, marking a decisive turnaround from the 609 million yen loss recorded during the same period last year. The shift signals a recovery in performance for the Japanese firm under local accounting standards.
Wesco Holdings posted a net profit of 880 million yen for the nine-month period ending April 30, 2026, marking a significant increase from the 693 million yen reported during the same period last year. The company’s earnings per share climbed to 65.90 yen, up from 49.89 yen in the prior year.
A 29 million yen net loss for the first quarter ended April 30 marks a sharp reversal for Misawa & Co., which posted a 12 million yen profit during the same period last year. The shift reflects broader pressure on the firm's bottom line despite a modest uptick in revenue.
Tomita Electric Co. Ltd. reported a net profit of 11 million yen for the first quarter ending April 30, a significant cooling from the 97 million yen recorded during the same period last year. Despite the bottom-line contraction, the company successfully transitioned from heavy operating losses to a break-even position.
Natty Swanky Co. Ltd. reported a net loss of 15 million yen for the first quarter ending April 30, a significant improvement from the 93 million yen loss recorded during the same period last year. The results, filed under Japanese accounting standards, reflect a shift toward profitability in operating performance.
A 23.7% drop in net profit hit Sougou Shouken Co. Ltd. during the nine-month period ending April 30, as the Japanese firm reported earnings of 531 million yen compared to 696 million yen in the same timeframe last year.