Rivian Automotive Inc warned on Thursday that supply-chain issues could cut its planned production in half in 2022 to 25,000 vehicles, sending shares of the EV maker down more than 12% in extended trading.
Shares of Amazon (NASDAQ: AMZN) were climbing today after the tech giant surprised the market with a 20-for-1 stock split and announced a $10 billion share-repurchase authorization. Shares were up 6.2% as of 3:06 p.m. ET on the news.
Oracle Corp reported a sharp decline in third-quarter profit, as the business software and cloud firm spends heavily in building out data centers across the world, and also recorded losses from some other investments.
Markets resumed their selloff today after cabinet-level talks between Ukraine and Russia failed to result in any progress toward a diplomatic solution to end the conflict between the two countries. Investors were also treated to the latest inflation update, which came in red-ho
Wall Street resumed its slide on Thursday, ending in the red as inflation hit a four-decade high, cementing expectations that the U.S. Federal Reserve would hike key interest rates at the conclusion of next week's monetary policy meeting to prevent the economy from overheating.
Business software and cloud firm Oracle Corp reported third-quarter revenue in line with Wall Street expectations, as more businesses ramped up their spending to support hybrid work and transitioned to cloud.
Wall Street resumed its sell-off on Thursday, closing lower as inflation hit a four-decade high, cementing expectations that the U.S. Federal Reserve would hike key interest rates at the conclusion of next week's monetary policy meeting to prevent the economy from overheating.
Consumer stocks were ending broadly mixed in Thursday trading, with the SPDR Consumer Staples Select Sector ETF (XLP) dropping 1.0% and the SPDR Consumer Discretionary Select Sector ETF (XLY) rising 0.9%, reversing an earlier slide.
Wall Street slid on Thursday as inflation data hit a four-decade high, all but assuring the U.S. Federal Reserve would hike key interest rates at the conclusion of next week's monetary policy meeting to prevent the economy from overheating.
What happened
Investors have punished the stock of Rivian Automotive (NASDAQ: RIVN) this year, sending its shares down by more than 60%. The negative sentiment was still in evidence Thursday ahead of its fourth-quarter and full-year report, which is due out after the closing bell
The stock market continued to suffer declines on Thursday, and as we've seen many times in the recent past, the Nasdaq Composite (NASDAQINDEX: ^IXIC) proved to be more volatile than most other stock market indexes. As of noon ET today, the Nasdaq was down 247 points, or nearly 1.
The tech-heavy Nasdaq fell nearly 2% on Thursday as U.S. inflation rose to a four-decade high in February, cementing the chances of the Federal Reserve raising interest rate later this month.
What happened
Thursday is looking like it's going to be a rough day for holders of many e-commerce stocks. As of 11 a.m. ET, shares of both e-commerce platform provider Shopify (NYSE: SHOP) and the South American online retail giant MercadoLibre (NASDAQ: MELI) were down by about
There are a lot of interesting stories in the market this week, and I figured I would highlight a few of them in case they weren't getting enough attention. Amazon's (NASDAQ: AMZN) stock split is naturally getting a lot of attention, but it's worth a longer look. I also think the
What happened
Shares of Amazon (NASDAQ: AMZN) were moving higher today after the tech giant surprised the market by announcing a 20-for-1 stock split and a $10 billion share-repurchase authorization.
The meme stock crowd -- and the Reddit crowd in particular -- is celebrating this week's news that activist investor Ryan Cohen has taken an interest in retailer Bed Bath & Beyond (NASDAQ: BBBY). Shares jumped as much as 85% on Monday after Cohen disclosed a new, nearly-10% s
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