Articles by Daniel Marsh
Uber CFO Outlines Opportunistic Buyback Strategy, AV Investment at Morgan Stanley Event
Uber Technologies stock rose 1.6% to $77.15, outperforming the market, after CFO Balaji Krishnamurthy highlighted plans for opportunistic buybacks and continued investment in autonomous vehicles at a Morgan Stanley conference.
GE Aerospace Slumps 3% Amid Oil Spike, Defying Analyst Target Hike
GE Aerospace stock dropped 3.2% to $334.51 Tuesday, underperforming the industrial sector as a sharp rise in oil prices fueled inflation fears and a broad market sell-off, despite Bernstein lifting its price target.
American Express Boosts Dividend 16%, Shares Edge Higher
American Express increased its quarterly dividend by 16%, sending shares modestly higher. Investors now focus on the company's upcoming earnings report for details on consumer spending and credit health.
Corning Shares Retreat as CFO Comments Follow Product Launch
Corning shares declined 4.3% to $151.04, reversing part of Monday's gains following executive comments and new Motorola product news. The drop exceeded broader market weakness.
Oil Spike, Rate Fears Drive Sharp Selloff; Target Gains on Earnings
Major U.S. equity indices fell sharply Tuesday, pressured by a surge in oil prices and rising Treasury yields that dampened expectations for near-term Federal Reserve rate cuts. Retailer Target posted gains following its quarterly report.
Mortgage Rates Climb, Pressuring Lender and Homebuilder Stocks
Mortgage rates increased on Tuesday, with the 30-year fixed rate reaching 6.15%. Major mortgage lenders and homebuilder ETFs declined as rising Treasury yields weighed on the sector.
NRG Energy Shares Drop on LS Power's $2.35 Billion Secondary Offering
NRG Energy shares declined sharply after LS Power affiliates priced a large secondary stock offering at a discount. The company plans a concurrent $300 million share buyback from the sellers.
Western Digital Leads Tech Rout as Oil Spike Sparks Inflation Fears
Western Digital shares tumbled roughly 6% on Tuesday, leading a decline in data storage stocks as a spike in oil prices fueled inflation concerns and rattled the broader market. A regulatory filing also showed a planned insider sale.
