Articles by Daniel Marsh
Freshworks Shares Surge on Heavy Volume Ahead of Russell Index Rebalance
Freshworks rallied 1.96% to $9.37 on volume equal to 17% of its float, just before the June 26 Russell rebalance. The stock is still down 23.5% YTD as cost cuts continue.
SpaceX Russell Inclusion Spurs $2.68B in Buying, Short Interest Rises
Russell index rebalance may drive $2.68B in SpaceX buying, while the company faces $1.46B in annual bond payments and a 31.5% drop from its post-IPO high.
Alphabet Stock Dips Despite Major Dow Inclusion and $1.75B ETF Rebalancing
Alphabet (GOOGL) closed down 0.24% on Wednesday as tech sector pressures outweighed the $1.75 billion ETF buying expected from its Dow inclusion on June 29.
Target Hits New High on Wolfe Upgrade, Retail Strategy Shift
Target surged 5.3% to a 52-week high after Wolfe Research upgraded the stock to Outperform, citing strong store execution and rising non-merchandise sales.
Transocean Stock Dives 4.5% as Oil Price Rout Stings Offshore Drillers
Transocean (RIG) shares fell 4.5% to $5.04 as oil prices slumped, threatening offshore drilling spending despite $185 million in new contracts and a $7.1 billion backlog. The pending $5.8 billion Valaris merger faces U.S. antitrust review.
IREN shares tumble 9.5% as Bitcoin slide and AI spending jitters weigh
IREN shares fell 9.5% to $49.51, underperforming peers, as Bitcoin slid below $60,000 and analysts questioned its AI cloud pivot, chip delivery risks, and $4.4 billion revenue goal.
Costco Set to Open First Pensacola Warehouse on June 25
Costco opens its first Pensacola warehouse on June 25, entering a market with Sam's Club and BJ's. The company reported 11.6% Q3 sales growth and aims for 30+ new openings per year.
Absci Surges on Positive Phase 1 Data for Hair Loss Drug and $100M Capital Raise
Absci shares soared 35% to $10.01 after early Phase 1 safety data for its hair-loss antibody ABS-201 showed no serious adverse events, and the company raised $100 million in a stock offering.
AT&T Faces Regulatory Hurdles, Fiber Expansion Costs Weigh on Shares
AT&T shares dropped 0.34 to 22.48 after forecasting Q2 free cash flow below estimates due to fiber expansion costs and regulatory pushback in California.