Text size Wall Street is not happy with the recent performance of Rivian or Rivian stocks. Justin Sullivan/Getty Images Rivian Automotive the stock trades much worse than most of its peers. Sales and products are not the problem. It is spending. The company needs a plan to control cash and improve investor sentiment. Wall Street … Read more
GameStop shares soared late in trading on Tuesday after the video game retailer reported a strong quarter. Jim Watson/AFP via Getty Images Text size GameStop announced a surprise fiscal fourth-quarter profit, sending the stock soaring late in trading on Tuesday. The company reported earnings of 16 cents per share, compared with a loss of 49 … Read more
Text size First Republic shares closed down 47% in Monday trading. The stock is now down more than 90% so far in March. Eric Thayer/Bloomberg Shares of Bank of the First Republic are still in freefall even after the banking industry provided the lender with billions of dollars in cash. That money could be enough … Read more
Friday’s fall reflected fears that the big-bank bailout deal hasn’t fully solved the problems of the First Republic, which also suspended its dividend on Thursday. The uproar has prompted analysts to ask whether the company may be under pressure to find a buyer. “It’s unclear whether it’s viable as a stand-alone entity,” said Julian Wellesley, … Read more
Text size Apple and other big companies saw their stocks rise despite worries in the banking sector. Pau Barrena/AFP via Getty Images SVB Financial The ‘s troubles may have triggered the latest round of stock market troubles, but despite the lender’s ties to Silicon Valley, the tech sector has been remarkably resilient during the sell-off. … Read more
Shares of Adobe Inc. rallied in extended trading on Wednesday after the software company beat Wall Street expectations for the quarter and raised its outlook, while anticipating that its acquisition of the design platform interactive Figma will close by the end of the year. Adobe ADBE, +0.08% shares rose 5% after hours, after gaining less … Read more
Lumen Technologies Inc. isn’t exactly in the top company among the S&P 500 laggards this year. Of the eight worst performing names in the index so far in 2023, seven are battered bank stocks, including SVB Financial Group SIVB, -60.41% and Signature Bank SBNY, -22.87%, whose correspondent banks collapsed and were taken over by the … Read more
On a Monday after high-profile bank failures on Friday and Sunday, it might seem strange to recommend buying shares of banks and other financial services companies, but Keefe, Bruyette & Woods did just that, and even says that customers are expected to buy shares of a bank whose stock fell more than 70% in premarket … Read more
Text size Silicon Valley Bank lends to venture capital-backed start-ups in areas such as technology and life sciences. Andrei Stanescu/Dreamstime.com Shares of lender SVB Financial Group fell on Thursday, sending ripples through the banking sector, which had been largely sheltered from concerns about the recession and rising rates. SVB’s troubles came as the Silicon Valley-based … Read more
SVB Financial GroupIt is SIVB -41.59% the shares fell sharply after it said it sold much of its securities portfolio and raised new capital, underscoring a wider problem for U.S. lenders who have seen rising interest rates hammer the value of their bond holdings . SVB, the parent company of Silicon Valley Bank, said late … Read more