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PepsiCo Stock Rises Before Holiday; Pricing Strategy Under Watch
PepsiCo shares gained 1.16% to $150.57 before the Memorial Day break. The company replaced credit lines and faces potential U.S. snack price increases.
AbbVie Stock Gains on Positive Pipeline Updates Ahead of Holiday
AbbVie closed Friday at $215.70, up 0.56%, after receiving a positive EU panel recommendation for MAVIRET in acute hepatitis C and releasing new oncology data ahead of ASCO.
Coherent Stock Nears $378; Key Test After Holiday
Coherent shares ended Friday at $377.57, down 0.1%, underperforming the broader market ahead of Memorial Day. The stock faces a key test Tuesday.
Intuit Cuts 3,000 Jobs, Shifts Focus to AI Amid TurboTax Competition
Intuit is cutting 3,000 jobs and closing offices in Reno and Woodland Hills as it restructures around AI. The company raised full-year revenue guidance but lowered its TurboTax outlook due to competition from cheaper AI tools.
AeroVironment Surges 10% Pre-Holiday; Tuesday Session in Focus
AeroVironment shares rose 6.8% Friday to $174.23, capping a 10.3% weekly gain. With no fresh news, Tuesday's trading will gauge if the rally holds.
Lockheed Martin Surges on Alabama Missile Plant Groundbreaking
Lockheed Martin shares gained 2% Friday to $533.24, outpacing peers, following the groundbreaking of a new missile plant in Alabama. The stock is still 23% below its 52-week high.
Fervo Energy Shares Dip 10% But Stay 42% Above IPO Price Ahead of Key Project Milestone
Fervo Energy shares dropped 9.76% to $38.35 on Friday, but still trade 42% above the IPO price. The company's valuation now near $12.4 billion hinges on its Cape Station geothermal project.
Proposed SSI Rule Could Cut Benefits for Nearly 400,000
A new Social Security rule would tighten SSI eligibility by removing SNAP benefits from the household test, potentially cutting benefits for 275,000 and ending payments for 109,000.
Uber's €33 Bid for Delivery Hero Faces Market Pause on Memorial Day
Uber closed Friday at $71.82, down 2.43%, after Delivery Hero confirmed a €33-per-share takeover approach. U.S. markets are closed until Tuesday for Memorial Day.
Enbridge hits 52-week high on New England gas pipeline expansion
Enbridge Inc. shares closed at a 52-week high on the TSX after launching Project Beacon, a gas pipeline upgrade in New England that could add 300 million cubic feet per day by 2030.
AXT Shares Surge to All-Time High on AI Data Center Demand
AXT shares closed at a record $140.83 on Friday, gaining 16.37% for the day and 13.8% for the week, fueled by demand for indium phosphide in AI data centers.