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The resignations were announced after the struggling carmaker released the results of an investigation into an investor’s report on the company’s viability. The resignations are effective immediately, and Lordstown has hired an executive search firm to find their replacements. Mr. Burns was the driving force behind Lordstown — founding the company just months after he stepped down as chief executive at Workhorse, another electric vehicle company. The company said on Monday that it had appointed its lead independent director, Angela Strand, as executive chairwoman while it looks for a permanent chief executive. Lordstown, in announcing last week it may not have enough money to survive, also said it had found material weaknesses in it financial reporting system.
Persons: carmaker, Tony Dejak, Steve Burns, Julio Rodriguez, Lordstown, Sullivan, Cromwell, ” Lordstown, Burns, Angela Strand, Becky, David T, Lauren Hirsch, Read Organizations: Lordstown Motors, Credit, Press, Motors, Hindenburg Research, Securities and Exchange Commission, Sullivan, General Motors, Diamond Peak Holdings Locations: Lordstown, Ohio
High-Speed Trader Virtu Fires Back at Critics Amid Meme-Stock Frenzy
  + stars: | 2021-06-13 | by ( Alexander Osipovich | ) www.wsj.com sentiment -0.99   time to read: +1 min
High-speed trader Virtu Financial Inc. is pushing back against critics in Washington who say the stock market is rigged against small investors. The review will include a practice known as payment for order flow, in which brokerages send many of their customers’ orders to trading firms in exchange for cash payments. Payment for order flow has existed for decades and has come under scrutiny before. They say small investors benefit from the practice because it results in better prices than they would get at public exchanges like the New York Stock Exchange and the Nasdaq Stock Market . Collectively, that saves investors billions of dollars a year, industry data show.
Persons: Gary Gensler, brokerages, Gensler’s, Sean Casten Organizations: Virtu Financial, AMC Entertainment Holdings Inc, GameStop Corp, Securities and Exchange Commission, SEC, GameStop, Markets, New York Stock Exchange, Nasdaq Locations: Washington
Pershing Square served as cosponsor of Justice Holdings, with Nicolas Berggruen and Martin Franklin. Pershing Square remains the second-largest investor in Restaurant Brands International. Pershing Square has had its best success when it has invested in high quality businesses with simple, predictable, cash flow and durable and growing business lines. One transferable five-year right per share of Pershing Square SPARC Holdings, Ltd. ("SPARC"), which is expected to trade on the New York Stock Exchange. Pershing Square Tontine Holdings is owned in the fund.
Persons: Nicolas Berggruen, Martin Franklin, Tim Hortons, PSTH, Bill Ackman, Ken Squire Organizations: Pershing, Justice Holdings, Martin Franklin . Justice Holdings, 3G Capital, Burger King Worldwide Holdings Inc, Restaurant, Restaurant Brands, Warner Brothers, Spotify, Charter Communications, Disney, Amsterdam, Securities and Exchange Commission, Pershing Square SPARC Holdings, Ltd, New York Stock Exchange, SPARC, Bloomberg, 13D, Tontine Locations: UMG, effectuate, PSTH
AMC shares rose as much as 8% early Friday after S&P Global Ratings raised the company's credit rating. The credit rating was upgraded to CCC+ from CCC- but leaves the rating still within a speculative grade. AMC shares climbed Friday, bolstered by an upgrade of its credit rating at S&P Global Ratings which said fundraising by the company should help put the movie-theater chain on steadier financial footing. S&P Global said AMC had a monthly cash burn of $120 million in the first quarter of this year. Renewed interest in AMC's stock was ignited in late May after its largest shareholder, private Chinese conglomerate Dalian Wanda Group, sold almost all of its remaining stake.
Persons: Scott Zari Organizations: AMC, P Global, Global, Mudrick Capital Management, Bloomberg, Securities and Exchange Commission, Dalian Wanda Group, Retail
Atai Life Sciences has raised hundreds of millions as a private psychedelics company. Atai now has a portfolio of 10 therapeutic programs, around half of which are focused on developing psychedelics medications to treat mental illnesses. Atai would become the second psychedelics company to IPO on a major US exchange after Compass. Other psychedelics companies — like Bright Minds, MindMed, Field Trip, and MagicMed — have recently listed or applied to list through acquisitions or uplisting from Canadian exchanges. But if any of Atai's companies are successful, approved, and commercialized?
Persons: Peter Thiel, Atai, Christian Angermayer, Florian Brand, Srinivas Rao, Lars Christian Wilde, Brand, MagicMed —, Cowen, Berenberg, Cantor, Canaccord, Johnson, Thiel Organizations: Sciences, US Securities and Exchange Commission, Nasdaq, Atai, Credit Suisse, Citigroup, RBC Capital Markets, US Food and Drug Administration, Neuroscience, Compass, IB, Therapeutics, Apeiron Investment Group, Galaxy Group Investments, Kendall Capital Markets, Apeiron Investment, Galaxy, PayPal, Thiel Capital, Biotech, US Drug Enforcement Administration Locations: United States, Atai
US STOCKS-Wall Street set for flat open as consumer prices jump
  + stars: | 2021-06-10 | by ( Ambar Warrick | ) www.reuters.com + 0.00   time to read: +3 min
(For a live blog on the U.S. stock market, click or type LIVE/ in a news window.) The Labor Department said its consumer price index increased 0.6% last month after surging 0.8% in April. The labor market and inflation are two key factors for the Fed to consider tightening, and while inflation has risen, recent payrolls data was underwhelming. A separate report on Thursday from the Labor Department showed the number of Americans filing for jobless claims fell less than expected last week. Focus was also on a major infrastructure spending bill, talks over which hit a deadlock in the Senate.
Persons: , Mark Grant, Ambar Warrick, Maju Samuel Organizations: Boeing, Dow, Nasdaq, Federal Reserve, Labor Department, CPI, Riley, Fed, Dow E, Clover Health, GameStop Corp, Securities and Exchange Commission, Reuters United Airlines, Airbus, Ocugen Inc Locations: Bengaluru
Wall Street set for flat open as consumer prices jump
  + stars: | 2021-06-10 | by ( Ambar Warrick | ) www.reuters.com + 0.00   time to read: +3 min
Morning sunlight falls on the facade of the New York Stock Exchange (NYSE) building after the start of Thursday's trading session in Manhattan in New York City, New York, U.S., January 28, 2021. REUTERS/Mike Segar/File PhotoU.S. stock indexes were set for a muted open on Thursday as a surge in consumer prices in May fanned fears of early policy tightening by the Federal Reserve, while another report showed the labor market remained under pressure. The Labor Department said its consumer price index increased 0.6% last month after surging 0.8% in April. A separate report on Thursday from the Labor Department showed the number of Americans filing for jobless claims fell less than expected last week. read moreFocus was also on a major infrastructure spending bill, talks over which hit a deadlock in the Senate.
Persons: Mike Segar, Mark Grant Organizations: New York Stock Exchange, REUTERS, Federal Reserve, Labor Department, CPI, Riley, Fed, Dow E, Nasdaq, Clover Health, GameStop Corp, Securities and Exchange Commission, Boeing, Reuters United Airlines, Airbus, Thomson Locations: Manhattan, New York City , New York, U.S
The Labor Department said its consumer price index increased 0.6% last month after surging 0.8% in April. The labor market and inflation are two key factors for the Fed to consider tightening, and while inflation has risen, recent payrolls data was underwhelming. ET, the Dow Jones Industrial Average (.DJI) was up 230.84 points, or 0.67%, at 34,677.98, the S&P 500 (.SPX) was up 27.27 points, or 0.65%, at 4,246.82. read moreAdvancing issues outnumbered decliners by a 2.55-to-1 ratio on the NYSE and a 2.17-to-1 ratio on the Nasdaq. The S&P index recorded 38 new 52-week highs and no new low, while the Nasdaq recorded 58 new highs and six new lows.
Persons: Mike Segar, Mark Grant, Scott Brown, Raymond James Organizations: New York Stock Exchange, REUTERS, Federal Reserve, Labor Department, CPI, Riley Financial, Fed, Dow Jones, Nasdaq, Clover Health, AMC, GameStop Corp, Securities and Exchange Commission, Boeing, Reuters United Airlines, Airbus, NYSE, Thomson Locations: Manhattan, New York City , New York, U.S, St . Petersburg , Florida
Investors can't address the climate emergency on their own, but governments can't reach climate solutions without investors." "Investors can't address the climate emergency on their own, but governments can't reach climate solutions without investors." 'Our house is burning'The debate over how to respond to the climate crisis comes amid rising awareness from the public, business leaders and regulators about the consequences of climate change. Tobias Adrian, director of the IMF's monetary and capital markets department, told CNN Business the climate crisis could "absolutely" ignite a financial crisis. "Investors know that the impacts of the climate crisis are systemic financial risks," Lubber said in a statement, "and will worsen, if left unchecked."
Persons: Thomas DiNapoli, DiNapoli, Joe Biden, Biden, Apple, Gary Gensler, Jerome Powell, Christine Lagarde, Lagarde, Tobias Adrian, Mindy Lubber, Lubber Organizations: CNN Business, Investors, Fidelity, State, York, Allianz Global Investors, California, NDC, Securities and Exchange Commission, SEC, US Chamber of Commerce, Federal, Central Bank, Green Swan Conference Locations: York, United Kingdom, United States
Take a look at some of the biggest movers in the premarket:RH (RH) – RH surged 8.4% in premarket trading after it reported quarterly profit of $4.89 per share, above the $4.10 a share consensus estimate. Signet Jewelers (SIG) – Signet surged 6.3% in premarket trading after it trounced a $1.27 consensus estimate with quarterly earnings of $2.23 per share. Clover Health (CLOV), Wendy's (WEN), WWE (WWE), Clean Energy Fuels (CLNE) – The newest of the so-called "meme stocks' remain on watch today, as they pick up social media interest. Clean Energy Fuels – a California-based natural gas provider – rallied 5.6% in premarket trading after a 31.5% surge Wednesday. Verint Systems (VRNT) – Verint Systems reported quarterly profit of 44 cents per share, beating the 35 cents a share consensus estimate.
Persons: – RH, Matt Furlong, Mike Recupero, WEN, Wendy's, – Jefferies, Goldman Sachs, Goldman, Oppenheimer, Fastly, – Tesla, Verint Organizations: Signet Jewelers, Signet, GameStop, Amazon, Securities and Exchange Commission, Clover Health, WWE, Energy Fuels, Clean Energy Fuels, , Northern Star, Boeing, – United Airlines, Max, Bloomberg, United, Plaid, Verint Systems, Systems Locations: California, Fremont , California
Consumer prices keep on rising. Where does it end?
  + stars: | 2021-06-10 | by ( Julia Horowitz | Cnn Business | ) edition.cnn.com + 0.00   time to read: +6 min
You can sign up right hereLondon (CNN Business) From lumber and steel to paint and burrito bowls at Chipotle, prices are rising almost everywhere you look . What's happening: Wall Street is training its attention on the Consumer Price Index for May, which arrives on Thursday. The report is expected to show that prices excluding food and energy continued to notch strong gains last month, rising 3.4% over the previous year. Including food and energy, economists believe consumer prices leaped 4.7% in the past 12 months. The European Central Bank, which met Thursday in Frankfurt, did not change its policy, issuing a statement that was essentially unchanged from its decision in April.
Persons: Kit Juckes, Yi Gang, Christine Lagarde, Andy Haldane, Wendy's WEN, Maneesh Deshpande, Deshpande, There's, , cyberattacks, Andre Nogueira, Jennifer Granholm, Jake Tapper, Dave Organizations: CNN Business, Bell, CNN, Consumer, Index, Traders, Federal, Generale, People's Bank of, European Central Bank, ECB, ING, Bank of England, New Statesman, Energy Fuels, Clover Health, Barclays, GameStop, Securities and Exchange Commission, Colonial Pipeline, US Justice Department Locations: London, China's, Shanghai, People's Bank of China, Frankfurt, Cornwall, England
State Street is creating a dedicated cryptocurrency division
  + stars: | 2021-06-10 | by ( Tanaya Macheel | ) www.cnbc.com sentiment -0.97   time to read: +2 min
State Street is creating a division dedicated to digital finance, which will comprise cryptocurrency, central bank digital currency, blockchain technology and tokenization, it announced Thursday morning. State Street Digital will be integrated with its proprietary electronic trading platform, which the bank plans to develop into one that can support crypto assets as well as other asset classes. State Street, which has $3.6 trillion assets under management and $40.3 trillion in assets under custody, is the second of the five major global custodians introduce a service for digital assets. Nadine Chakar, head of global markets at State Street, will lead the division and report to chief operating officer Lou Maiuri. The bank also said the division plans to create new liquidity venues for our clients and investors.
Persons: Ron O'Hanley, CNBC's Bob Pisani, Gary Gensler, BNY Mellon, Nadine Chakar, Lou Maiuri Organizations: Street, Securities and Exchange Commission, Wednesday, SEC, State
Bitcoin ETF hopefuls likely have a little longer to wait. New SEC Chair Gary Gensler may have taught a class on crypto at MIT, but that doesn't mean a bitcoin-based fund will immediately receive approval, King told CNBC's "ETF Edge." "People are sort of reading into it [like] that means that there's going to be green lights for a bitcoin ETF. We're not so sure that's the case," said King, who plans to convert Osprey's Bitcoin Trust (OBTC) to an ETF when the time is right. He added that he is "100% committed" to converting his firm's popular Grayscale Bitcoin Trust (GBTC) to an ETF "when the regulatory environment is ready to have it."
Persons: Greg King, Gary Gensler, King, CNBC's, It's, — haven't, Michael Sonnenshein, we're, Sonnenshein, that's Organizations: Securities and Exchange Commission, Osprey Funds, CNBC, . New SEC, MIT, SEC, Investments Locations: bitcoin
BlackRock, the largest money manager, is an increasingly influential player in Washington, DC. BlackRock, the world's largest investment manager, has become an increasingly influential Wall Street player in Washington, DC as a poster child of the revolving door between finance and politics. Former BlackRock investment executive Brian Deese leads Biden's National Economic Council, effectively serving as his top advisor on economic matters. BlackRock controls $9 trillion, making it the largest money manager in the world. BlackRock Chief Executive Larry Fink was reportedly under consideration by 2016 presidential candidate Hillary Clinton to run the Treasury Department.
Persons: Joe Biden's, Brian Deese, Biden, Wally, Adeyemo, Larry Fink, Michael Pyle, Obama, Kamala Harris, Goldman Sachs, BlackRock isn't, Read, it's, Fink, Robert Kapito, Barbara Novick, BlackRock's, Larry Fink's, Aladdin, Deese, Barack Obama, Pyle, Thomas Donilon, Mike, Biden's, BlackRock, Dalia Blass, Blass, Coryann Stefansson, FMA, that's, Bear Stearns, Chuck Grassley, Morningstar, , Hillary Clinton, David Rubenstein, I've, I'm, Merrill Organizations: BlackRock, Washington , DC, Insider Finance, New, Economic Council, Treasury Department, Wall, Aladdin, Financial Times, Street Global Advisors, Apple, Microsoft, National Economic Council, Management, State, Securities and Exchange Commission, Federal Reserve Board, Federal Reserve Bank of New, BlackRock's Financial, LinkedIn, Federal Reserve, Federal, Federal Reserve Bank of New York, Bear, AIG, Republican, New York Times, Fidelity, Vanguard, Exxon, DC, Barclays Global Investors, Barclays, Merrill Lynch Investment Management, Biden Locations: Washington ,, BlackRock, Washington, New York, China, Federal Reserve Bank of New York, California, eFront
The home furnisher, known formerly as Restoration Hardware, reported adjusted earnings of $4.89 per share on revenue of $861 million. Signet Jewelers – Signet shares jumped nearly 9% after the company's first-quarter earnings topped analysts' projections. The jeweler reported adjusted earnings of $2.23 per share, compared with the Street's $1.27 per share expectation, according to Refinitiv. Fastly – The cloud computing company's stock fell more than 1% in midday trading after Oppenheimer downgraded it to a perform from an outperform. GameStop – Shares of GameStop fell about 19% in midday trading.
Persons: RH, Signet, Goldman Sachs, Myers Squibb, it's, SVB Leerink, Fastly, Oppenheimer, Eli Lilly, Clover, Wendy's, — CNBC's Hannah Miao, Jesse Pound, Pippa Stevens Organizations: , Signet, Myers, UBS, ALX Oncology, GameStop, Amazon, Securities and Exchange Commission, Clover Health, Clean Energy Fuels Corp, Clean Energy Fuels Locations: Meatpacking, New York, Bristol, California
Racial diversity stagnated on corporate boards, study finds
  + stars: | 2021-06-10 | by ( ) www.cnbc.com + 0.00   time to read: +7 min
But in the two preceding years, progress on increasing racial diversity on boards stagnated, a new study revealed Tuesday. An overwhelming 82.5% of directors among Fortune 500 company boards are white, according to the Missing Pieces Report: A Board Diversity Census of Women and Minorities on Fortune 500 Boards. In contrast, the number of racial minorities on Fortune 500 boards rose by just above a percentage point. Over the past year, more pressure has arisen for boards to focus on racial diversity. But a Vanguard spokeswoman said the investing giant believes "there is no one-size-fits-all mandate for board diversity" and will evaluate each board individually.
Persons: Richard Wyatt, Black, George Floyd, Linda Akutagawa, Gavin Newsom, Carey, Eli Kasargod, Staub, boardrooms, BlackRock, Benjamin Colton Organizations: Station, U.S, Alliance of Board, Deloitte, Fortune, Women, Minorities, ISS Corporate, Alliance for Board Diversity, California Gov, Nasdaq, Securities and Exchange Commission, Deloitte's Center, Financial Times, Service Employees International Union, BlackRock, ISS Analytics, Vanguard, Street Global Advisors Locations: boardrooms, California, Wall, State
When it comes to data on sustainable investing, asking the right questions is key. While these sustainable investment strategies have gained popularity with investors, data and reporting surrounding ESG factors can be opaque and confusing. The firm has two key goals in mind when it looks to ESG investing, Hoeppner said. Moderator Bradley Saacks asked the panelists about the regulatory environment for ESG investing. "All investment managers see ESG and sustainable investing as a commercial opportunity," Hoeppner said.
Persons: LGIM, Karen Karniol, Tambour, Bradley Saacks, John Hoeppner, Hoeppner, we're, It's Organizations: Finance, Bridgewater Associates, Legal, General Investment Management, Bridgewater, Securities and Exchange Commission, SEC Locations: Bridgewater, America
Chinese ride-hailing giant Didi files for US IPO
  + stars: | 2021-06-10 | by ( Pamela Boykoff | Cnn Business | ) edition.cnn.com sentiment -0.99   time to read: 1 min
(CNN Business) Didi, China's giant ride-hailing company, filed paperwork for an initial public offering in the United States with the Securities and Exchange Commission on Thursday. The company, which describes itself as the world's largest mobility platform, offers ride hailing, taxi and carpooling services in China. It intends to list on either the New York Stock Exchange or the Nasdaq, under the ticker DIDI. The filing did not disclose how much the company plans to raise in the IPO. Didi said it operates in 15 countries, but more than 93% of its sales come within China.
Persons: Didi, DIDI Organizations: CNN Business, Securities and Exchange Commission, New York Stock Exchange, Nasdaq Locations: United States, China
Private equity and hedge funds have added to the fund's performance over the past 10 years, he said. The Ohio pension plan's holdings in private equity and hedge funds have stumbled. Private equity firms buy companies, borrowing money to do so, and hope to sell them at a profit later. In his research, Phalippou included rebuttals from private equity firms and a lobbying group that criticized his analysis, noting that investors are "highly satisfied" with private equity performance and disclosures. "The first issue is lack of transparency" in the pension plan's private equity and hedge fund investments, Rayfield said.
Persons: Dean Dennis, Patty, Dennis, Dennis family's, Dean, Patty Dennis, Underfunding, Nick Treneff, , Treneff, Carlyle, outperformance, Ludovic Phalippou, Phalippou, Robin Rayfield, Rayfield, Edward Siedle, hasn't, Rick Carfagna, I'm, Alissa Burton, Siedle, Rudy Fichtenbaum, Fichtenbaum Organizations: State, of Ohio, Wall, Ohio Retired Teachers Association, Vanguard, Fidelity, Social Security, National Association of State, Milliman Inc, California Public Employees, Apollo Global Management, Carlyle Group, Securities and Exchange Commission, Ohio, Association, University of Oxford's, Business, SEC, Study, Senate, Wright State University Locations: Cincinnati, Ohio, U.S, Genoa Township, Covid, Dayton
Mr. Cohen said GameStop has a lot of work to do to turn itself around and doesn’t plan on telegraphing its strategy to competitors. Mr. Sherman, who was re-elected to the company’s refreshed six-member board of directors, didn’t take questions from analysts. Mr. Sherman also was the only board member physically present at the shareholder meeting; the other board members dialed in. The retailer’s chief financial officer, chief customer officer and chief merchandising officer have all departed in recent months. Related Video The recent trading volatility of GameStop and other stocks has prompted scrutiny of key players in the saga.
Persons: Ryan Cohen, Cohen, GameStop, , ’ ”, Ryan Cohen Mr, Matt Furlong, George Sherman, Furlong, Mike Recupero, Jim Bell, Recupero, Damien Browne, Sherman, didn’t, , Browne, Keith Gill, Gill, I’ve, Mr, Jenna Owens, Matt Francis, Jacob Reynolds, Caitlin McCabe, Sarah E Organizations: GameStop Corp, Amazon.com Inc, Wall Street, GameStop, Chewy Inc, Amazon’s, Amazon, Mr, Securities and Exchange Commission, Microsoft Corp, Software, Sony Group Corp, SONY, Microsoft Locations: Texas, Amazon’s Australia, Grapevine , Texas, Austin , Texas, Dallas
It soared 24.2% in premarket action, while Wendy's – up nearly 26% in yesterday's trading – added another 4.3% this morning. Campbell Soup (CPB) – The food producer reported quarterly earnings of 57 cents per share, missing consensus by 9 cents a share. Lordstown Motors (RIDE) – Lordstown Motors said there was "substantial doubt" about its ability to continue as a going concern. Target (TGT) – The retailer increased its quarterly dividend to 90 cents per share from 68 cents a share, a jump of 32%. Casey's General Stores (CASY) – Casey's reported quarterly earnings of $1.12 per share, beating the consensus estimate of 88 cents a share.
Persons: Clover, , Wendy's, Campbell Soup, Campbell, Lordstown, – Fastly, Sherwin, Williams, – Sherwin, – Casey's, Abercrombie &, Abercrombie, – Ferrari, Benedetto Vigna, Louis Camilleri, Vigna – Organizations: Clover Health, Revenue, Lordstown Motors, Securities and Exchange Commission, Target, Merck, Casey's, Fox Corp, – Fox, Wells Fargo Securities, Abercrombie, Abercrombie & Fitch, Jefferies, GameStop, Ferrari Locations: premarket, Wells Fargo
He also failed to ensure that questions from US authorities about the German carmaker's 2015 emissions scandal were answered "truthfully, completely and without delay," the company said Wednesday. The former Volkswagen CEO attended a meeting in July 2015 at which key features of the so-called "defeat device" were discussed. According to the report, Winterkorn denied through his lawyers that he breached his duties of care. Still, the former CEO has agreed to pay the company €11.2 million ($13.7 million). Volkswagen said it would receive an additional €270 million ($329 million) from an insurance policy covering its directors and officers.
Persons: Martin Winterkorn, Rupert Stadler, Gleiss Lutz, Winterkorn, Stadler, , Stephanie Halasz Organizations: London, CNN Business, Volkswagen, Audi, US Securities and Exchange Commission Locations: Germany
Retail investors will be able to buy into IPOs of Chamath Palihapitiya's blank-check companies. Retail investors will be able to buy into the initial public offierings of four blank-check companies run by " SPAC King" Chamath Palihapitiya. Last month, the company went public with one of Palihapitiya's many blank-check companies, Social Capital Hedosophia V.Shares of the four SPACs are set to sell for $10 apiece. According to the filings, retail investors who buy into the stock will be charged a $50 fee if they sell shares within 120 days of the IPO. Last month, investing app Robinhood unveiled its plans to let retail investors buy into IPOs.
Persons: SoFi, Chamath Organizations: Social Capital Suvretta Holdings Corp, Securities and Exchange Commission, Bloomberg, Social, Clover Health, Virgin Galactic Locations: SPAC
SoFi indicated its intention to begin underwriting public offerings in May. Palihapitiya is launching Social Capital Suvretta Holdings Corp. I, II, III, and IV through his venture fund, Social Capital, in partnership with Suvretta Capital Management, a biotech-focused hedge fund. SoFi customers need a minimum account balance of only $3,000 to participate. SoFi is also conducting conversations with other companies around underwriting IPOs and direct listings as well as more SPAC deals, the source added.
Persons: SoFi, Chamath Palihapitiya, bookrunner Morgan Stanley, Morgan Stanley, Bill Ackman's, Sukhinder Singh Cassidy, Jeffrey Housenbold, Schwab, TD Ameritrade, brokerages, Robinhood, Anthony Noto, Goldman Sachs, Palihapitiya Organizations: SoFi Securities, Securities and Exchange Commission, Capital Suvretta Holdings Corp, Social, Suvretta Capital Management, SEC, Wall, Social Capital, Pershing, Tontine Holdings, Citigroup, LTV Capital Partners, Softbank Investment Advisors, Retail, Goldman
The Lordstown Motors Corp. Endurance electric pickup truck sits on stage during an unveiling event in Lordstown, Ohio, U.S., on Thursday, June 25, 2020. Clean Energy Fuels — Shares of Clean Energy Fuels surged more than 14% amid heightened chatter on Reddit's WallStreetBets forum. Campbell Soup Company — The food producer's stock fell more than 5% in midday trading after it reported quarterly earnings of 57 cents per share, missing analysts' estimates by 9 cents. Abercrombie & Fitch — Shares of the clothing retailer added more than 1% after Jefferies upgraded the stock to buy from hold.
Persons: Clover, Wendy's, Campbell, Jefferies, Abercrombie, Fitch, Wells, , Pippa Stevens, Tanaya Macheel, Yun Li, Maggie Fitzgerald, Tom Franck, Jesse Pound Organizations: Lordstown Motors Corp, Energy Fuels, . Clover Health, AMC Entertainment, AMC, Stifel, Securities and Exchange Commission, Bank of America, RBC Capital Markets, Campbell Soup Company, Merck —, U.S, Merck, Abercrombie, Fitch, . Fox Corp, Locations: Lordstown , Ohio, U.S
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