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☆ US seeks more than $4 billion from Binance to end criminal case -Bloomberg News
▼ + stars: | 2023-11-20 | by ( Companies Need To Integrate Climate Reporting Across Functions To Comply With California S New Law | Henry Engler | October | ) www.reuters.com time to read: +3 min

A smartphone with displayed Binance logo and representation of cryptocurrencies are placed on a keyboard in this illustration taken, June 8, 2023. Negotiations between the Justice Department and Binance include the possibility that the cryptocurrency exchange's founder, Changpeng Zhao, would face criminal charges in the United States, the report said. The Bloomberg report said an announcement on the resolution could come as soon as the end of this month. A spokesperson for the Justice Department declined to comment. The DOJ probe is one of a string of legal and regulatory headaches the world's biggest crypto exchange faces in the United States.

Persons: Dado Ruvic, Changpeng Zhao, Sam Bankman, Binance, Zhao, Niket, Tom Wilson, Chris Prentice, Arun Koyyur, Maju Samuel, Bill Berkrot Organizations: REUTERS, U.S . Justice Department, Binance Holdings, Bloomberg, Justice Department, Binance, Reuters, DOJ, Securities and Exchange Commission, SEC, Futures Trading Commission, Thomson Locations: United States, Bengaluru, London, New York

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., October 27, 2023. The S&P 500 information technology sub-index (.SPLRCT), up 1.6%, was the top gainer among the S&P 500's 11 major sectors, getting its biggest boost from Microsoft's shares (MSFT.O) which touched a record high and were last up 2%. Microsoft will also take on Greg Brockman, another OpenAI cofounder, as well as other researchers. The benchmark S&P 500 (.SPX) was also closing back in on its year-to-date high reached in July, just a little over 1% below the milestone. The S&P 500 posted 25 new 52-week highs and one new low; the Nasdaq Composite recorded 70 new highs and 78 new lows.

Persons: Brendan McDermid, Bristol Myers, Satya Nadella, Sam Altman, Greg Brockman, Bruce Zaro, Germany's Bayer, decliners, Sinéad Carew, Amruta, Maju Samuel, Pooja Desai, Richard Chang Organizations: New York Stock Exchange, REUTERS, Microsoft, Bristol, Dow, Nasdaq, Apple, Nvidia, Investors, Granite Wealth Management, Dow Jones, Federal, Traders, Graphics, Bristol Myers Squibb, Sunday, Boeing, Deutsche Bank, NYSE, Thomson Locations: New York City, U.S, Providence , Rhode Island, Thursday's U.S, New York

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., October 27, 2023. Microsoft's shares (MSFT.O) advanced 2% before the bell after CEO Satya Nadella said Altman is set to join the company to lead a new advanced AI research team. Other megacap stocks were mixed, with Nvidia (NVDA.O) edging 0.6% higher, while Alphabet (GOOGL.O) slipped 0.8%. The benchmark S&P 500 (.SPX) is now only 2% away from its highest level this year reached in July. ET, Dow e-minis were up 18 points, or 0.05%, S&P 500 e-minis were up 3.5 points, or 0.08%, and Nasdaq 100 e-minis were up 28.25 points, or 0.18%.

Persons: Brendan McDermid, Bristol Myers, Sam Altman, Satya Nadella, Altman, Susannah Streeter, Hargreaves Lansdown, Nvidia, Germany's Bayer, Amruta Khandekar, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Microsoft, Bristol, Dow, Nasdaq, Federal Reserve, Nvidia, Fed, Traders, Dow e, Bristol Myers Squibb, Sunday, Thomson Locations: New York City, U.S

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., October 27, 2023. Microsoft's shares (MSFT.O) advanced 1.4%, notching a record high after CEO Satya Nadella said Altman is set to join the company to lead a new advanced AI research team. The Fed is expected to issue minutes of its November meeting on Tuesday, which will be parsed for clues on the direction of U.S. interest rates. Advancing issues outnumbered decliners by a 1.03-to-1 ratio on the NYSE and by a 1.39-to-1 ratio on the Nasdaq. The S&P index recorded eight new 52-week highs and one new low, while the Nasdaq recorded 32 new highs and 24 new lows.

Persons: Brendan McDermid, Bristol Myers, Sam Altman, Satya Nadella, Altman, Ken Polcari, Nvidia, Germany's Bayer, Amruta Khandekar, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Microsoft, Bristol, Dow, Nasdaq, Federal Reserve, Kace Capital Advisors, Traders, Dow Jones, Bristol Myers Squibb, Sunday, United Rentals, Ashtead, Boeing, Deutsche Bank, NYSE, Thomson Locations: New York City, U.S

The S&P 500 (.SPX), the Nasdaq (.IXIC) and the Dow (.DJI) registered their third straight week of gains. For the week, the S&P 500 added 2.2% while the Nasdaq composite rose 2.4% and the Dow climbed 1.9%. Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., November 15, 2023. REUTERS/Brendan McDermid Acquire Licensing RightsEnergy, finishing up 2.1%, was the biggest percentage gainer among the 11 major S&P 500 sectors as oil prices settled up more than 4%. The S&P 500 posted 18 new 52-week highs and 1 new lows; the Nasdaq Composite recorded 55 new highs and 97 new lows.

Persons: Michael Barr, Mary Daly, Susan Collins, Robert Phipps, Per Stirling's Phipps, Dow, Jack McIntyre, Brendan McDermid, Russell, Rick Wilmer, Sinéad Carew, Shristi, Maju Samuel, Pooja Desai, David Gregorio Our Organizations: Dow, Nasdaq, Federal, San Francisco Fed, Boston Fed, Applied Materials, U.S . Justice, Stirling, Dow Jones, Brandywine Global, Traders, New York Stock Exchange, REUTERS, Rights Energy, Technology, Microsoft, Ross Stores, Old Navy, ChargePoint Holdings, NYSE, Thomson Locations: U.S, China, Austin Texas, Philadelphia, New York City, New York, Bengaluru

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., November 15, 2023. The S&P 500 and the Nasdaq rose for the third straight session on Thursday as Treasury yields fell after higher-than-expected weekly jobless claims underscored market expectations that interest rates have peaked. The communication services index (.SPLRCL) led declines among the 11 major S&P 500 sectors, while energy shares (.SPNY) rose 1.1% as oil prices gained. Advancing issues outnumbered decliners by a 2.72-to-1 ratio on the NYSE and by a 1.88-to-1 ratio on the Nasdaq. Reporting by Shristi Achar A and Amruta Khandekar in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Michael Barr, Mary Daly, Daly, Thomas Hayes, Russell, Rick Wilmer, Shristi Achar, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Nasdaq, Federal Reserve, Treasury, Microsoft, Materials, San Francisco Fed, Great, Capital, Dow, Dow Jones, Old Navy, ChargePoint Holdings, NYSE, Thomson Locations: New York City, U.S, Bengaluru

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., November 15, 2023. The yield on the 10-year Treasury note dropped further to a two-month low on Friday and was last at 4.4082%. Most megacap stocks edged higher in premarket trading, with Amazon.com (AMZN.O) and Nvidia (NVDA.O) up 0.5% and 0.3% respectively. On the economic data front, markets will monitor the housing starts data for October, scheduled for release at 8:30 a.m. ET, Dow e-minis were up 93 points, or 0.27%, S&P 500 e-minis were up 10.75 points, or 0.24%, and Nasdaq 100 e-minis were up 6.5 points, or 0.04%.

Persons: Brendan McDermid, Russell, Mohit Kumar, Austan Goolsbee, Rick Wilmer, Shristi Achar, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Federal Reserve, Nvidia, Materials, Jefferies, Chicago Fed, Dow e, Old Navy, ChargePoint Holdings, Thomson Locations: New York City, U.S, Europe, Bengaluru

☆ Fisker delivers over 100 cars in a day with new distribution strategy
▼ + stars: | 2023-11-17 | by ( ) www.reuters.com time to read: +1 min

Henrik Fisker, CEO of electric-vehicle maker Fisker Inc. introduces the Ronin electric sports car in Huntington Beach, California, August 3, 2023. REUTERS/Mike Blake/File Photo Acquire Licensing RightsCompanies Fisker Inc FollowNov 17 (Reuters) - Fisker (FSR.N) said on Friday that its new distribution strategy would help improve delivery speed and volume, which the electric vehicle company noted was a bottleneck that curbed production. The EV maker delivered 107 vehicles on Thursday, crossing the 100 mark for the first time after executing a new strategy that brought in revenue of $7.5 million in one day. Fisker said it has added several logistics partners to transport Ocean SUVs to delivery locations so that they can be handed over to customers quickly. An employee can drive a customer's car to them if they live within 60 miles of a Fisker fulfillment location, eliminating the use of vehicle transport, the company said.

Persons: Henrik Fisker, Mike Blake, Fisker, Akash Sriram, Maju Samuel Organizations: Fisker Inc, REUTERS, Thomson Locations: Huntington Beach , California, Bengaluru

Target's bright outlook lifted shares of other retailers including Macy's (M.N), which rose 7.5%, and Kohl's (KSS.N), which closed up almost 9%. The S&P 500 consumer staples index (.SPLRCS), which includes Target, was the top sector gainer, adding 0.7%. "Those two data points reaffirmed the message from Tuesday that the Fed seems to be navigating the soft landing quite well," said Ronald Temple, chief market strategist at Lazard. Among individual stocks, retailer TJX's (TJX.N) shares fell 3.3% after it forecast current-quarter profit below Wall Street expectations, signaling spiraling costs weighing on margins. The S&P 500 posted 42 new 52-week highs and no new lows; the Nasdaq Composite recorded 106 new highs and 89 new lows.

Persons: ValueAct, Stocks, Ronald Temple, Wall, Temple, Brendan McDermid, Walt Disney, Russell, Joe Biden, Xi Jinping, Biden, Warren Buffett's Berkshire Hathaway, decliners, Sinéad Carew, Sruthi Shankar, Amruta, Shinjini Ganguli, Maju Samuel, Pooja Desai, Richard Chang Organizations: Dow, Nasdaq, Federal, Target, Reuters, Lazard, Dow Jones, New York Stock Exchange, REUTERS, Walt, ValueAct Capital, Money, U.S . House, Senate, Republican, TJX's, Sirius XM, NYSE, Thomson Locations: New York City, U.S, New York, Bengaluru

☆ Aston Martin F1 team gets investment from PE firm Arctos
▼ + stars: | 2023-11-16 | by ( Anousha Sakoui | ) www.reuters.com time to read: +1 min

The Aston Martin logo is seen on a V12 Vantage car at the company’s factory in Gaydon, Britain, March 16, 2022. REUTERS/Phil Noble/File Photo Acquire Licensing RightsNov 16 (Reuters) - The Aston Martin Formula One team said on Thursday it had agreed on an investment by U.S. private equity firm Arctos Partners in exchange for a minority shareholding. The stake sale values the car racing group at 1 billion pounds ($1.24 billion), a person with knowledge about the matter told Reuters. "They share our vision for our ultra-luxury brand, and they are extremely passionate about the sport and its prospects," Aston Martin Formula One Executive Chairman Lawrence Stroll said in a statement. The F1 team is sponsored by the eponymous British luxury carmaker in which Stroll holds the largest shareholding of over 25%.

Persons: Aston Martin, Phil Noble, Lawrence, French carmaker, Ryan Reynolds, Rob McElhenney, Prerna Bedi, Maju Samuel Organizations: Aston, REUTERS, Aston Martin Formula, U.S, Arctos Partners, Reuters, French carmaker Renault, Alpine, Thomson Locations: Gaydon, Britain, French, Bengaluru

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., October 26, 2023. Shares of Cisco Systems (CSCO.O) shed 11.5% as the communications and networking firm cut its full-year revenue and profit forecasts on slowing demand for its networking equipment. However, regional (Fed) authorities have very diverse opinions and (it) confuses investors," said Peter Andersen, founder of Andersen Capital Management in Boston. However, Andersen said he is still optimistic about the possibility of a soft landing for the economy and a year-end rally. Declining issues outnumbered advancers for a 1.02-to-1 ratio on the NYSE and for a 1.45-to-1 ratio on the Nasdaq.

Persons: Brendan McDermid, Peter Andersen, Andersen, Michael Barr, Li Auto, Joe Biden, Xi Jinping, advancers, Shristi Achar, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Cisco, Dow, Nasdaq, Walmart, Cisco Systems, Target, U.S . Federal, Andersen Capital Management, Treasury, Labor, Dow Jones, Palo Alto Networks, Baidu, U.S, NYSE, Thomson Locations: New York City, U.S, Boston, billings, Bengaluru

[1/3] Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., November 15, 2023. The bright outlook lifted shares of other retailers including Macy's (M.N) and Kohl's (KSS.N), while the S&P 500 consumer staples index (.SPLRCS), which includes Target, was among the top sector gainers. "Those two data points reaffirmed the message from Tuesday that the Fed seems to be navigating the soft landing quite well," said Ronald Temple, chief market strategist at Lazard. The benchmark S&P 500 (.SPX) and the tech-heavy Nasdaq (.IXIC) had posted their biggest daily percentage gains in more than six months on Tuesday, after the consumer prices data. The S&P 500 posted 42 new 52-week highs and no new lows; the Nasdaq Composite recorded 104 new highs and 69 new lows.

Persons: Brendan McDermid, ValueAct, Stocks, Ronald Temple, Temple, Joe Biden, Xi Jinping, Biden, Walt Disney, Warren Buffett's Berkshire Hathaway, decliners, Sinéad Carew, Sruthi Shankar, Amruta, Shinjini Ganguli, Maju Samuel, Pooja Desai, Richard Chang Organizations: New York Stock Exchange, REUTERS, Companies, Dow, Nasdaq, Federal, Reuters, Lazard, Dow Jones, U.S . House, Senate, Republican, ValueAct Capital, Sirius XM, NYSE, Thomson Locations: New York City, U.S, New York, Bengaluru

[1/3] Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., November 15, 2023. Target (TGT.N) advanced 17.6% as the big-box retailer forecast fourth-quarter profit largely above Wall Street expectations on easing supply-chain costs. The bright outlook also lifted shares of other retailers, while the S&P 500 consumer staples index (.SPLRCS), which houses Target, jumped 0.7%. U.S. producer prices eased more than expected amid a sharp drop in gasoline costs, providing further evidence that inflation was trending lower. Advancing issues outnumbered decliners by a 2.05-to-1 ratio on the NYSE and by a 2.13-to-1 ratio on the Nasdaq.

Persons: Brendan McDermid, Chris Zaccarelli, Joe Biden, Xi Jinping, Biden, JD.com, Warren Buffett's Berkshire Hathaway, Sruthi Shankar, Amruta, Shinjini Ganguli, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Companies, Dow, Nasdaq, Federal Reserve, Target, Reuters, U.S, Independent, Alliance, Dow Jones, U.S . House, Senate, Republican, Disney, ValueAct, Sirius XM, NYSE, Thomson Locations: New York City, U.S, Bengaluru

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., October 23, 2023. Target(TGT.N) shares advanced 14.2% before the bell as the big-ticket retailer forecast fourth-quarter profit largely above Wall Street expectations on easing supply-chain costs. The upbeat forecast also lifted shares of rival Walmart (WMT.N) up 1.2%. Separately, retail sales are expected to have slipped 0.3% on a month-over-month basis in October after 0.7% increase in September. ET, Dow e-minis were up 114 points, or 0.33%, S&P 500 e-minis were up 18.75 points, or 0.42%, and Nasdaq 100 e-minis were up 93.25 points, or 0.59%.

Persons: Brendan McDermid, Stuart Cole, Joe Biden, Xi Jinping, Biden, JD.com, Warren Buffett's Berkshire Hathaway, Sruthi Shankar, Amruta, Shinjini Ganguli, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Target, Walmart, U.S . Federal, Equiti, Dow e, U.S . House, Senate, Republican, Sirius XM, Thomson Locations: New York City, U.S, Bengaluru

☆ Exxon to start lithium production for EVs in the U.S. by 2027
▼ + stars: | 2023-11-13 | by ( Sabrina Valle | Thomson Reuters | U.S. Energy Correspondent Focused In Covering Global Operations Of Oil Majors Out Of Houston. | ) www.reuters.com time to read: +3 min

[1/2] Exxon Mobil logo and stock graph are seen through a magnifier displayed in this illustration taken September 4, 2022. Ammann did not disclose how much Exxon intends to invest in the lithium business, or when it might become profitable. Exxon plans to begin production with partner Tetra Technologies, Reuters exclusively reported on Saturday. It will produce the metal onsite and sell it under the brand name Mobil Lithium, the company said on Monday. Exxon is focusing on lithium production to be used not only in EVs but also consumer electronics and energy storage systems that can hold electricity generated from intermittent solar and wind power.

Persons: Dado Ruvic, Dan Ammann, Ammann, Sabrina Valle, Sourasis Bose, Maju Samuel, Bernadette Baum Organizations: Exxon Mobil, REUTERS, Companies, Exxon, Tetra Technologies HOUSTON, Exxon's, Imperial, Tetra Technologies, Reuters, Mobil, BP, Shell, Deloitte, Thomson Locations: China, United States, Europe, Arkansas, U.S, Alberta, Canada, Houston, Bengaluru

☆ Futures dip as focus shifts to economic data
▼ + stars: | 2023-11-13 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Brendan McDermid Acquire Licensing RightsSummaryCompanies Futures down: Dow 0.02%, S&P 0.17%, Nasdaq 0.22%Nov 13 (Reuters) - U.S. stock index futures edged lower on Monday as investors awaited economic data later this week that could shape expectations around how long the Federal Reserve will keep interest rates elevated. Investors will focus on a slew of economic data this week as well as speeches from Fed officials for signs on the trajectory of interest rates amid growing expectations that the Fed is done hiking borrowing costs. Inflation data on Tuesday is expected to show headline consumer prices eased to 3.3% in October from 3.7% in September. The major U.S. stock indexes have rebounded strongly this month, fueled by a stronger-than-expected earnings season and on hopes that U.S. interest rates are near their peak. ET, Dow e-minis were down 6 points, or 0.02%, S&P 500 e-minis were down 7.75 points, or 0.17%, and Nasdaq 100 e-minis were down 34.75 points, or 0.22%.

Persons: Brendan McDermid, jitters, Moody's, Fitch, Mike Johnson, Sruthi Shankar, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Federal Reserve, CPI, . House, Republican, Dow e, Boeing, Bloomberg News, APEC, Dubai's Emirates, Dubai Airshow, Micron Technology, Memory Technologies, U.S, Thomson Locations: New York City, U.S, China, Dubai, Bengaluru

☆ Aclaris shares plummet on terminating development of rheumatoid arthritis drug
▼ + stars: | 2023-11-13 | by ( ) www.reuters.com time to read: +1 min

Companies Aclaris Therapeutics Inc FollowNov 13 (Reuters) - Aclaris Therapeutics (ACRS.O) on Monday said it would stop development of its rheumatoid arthritis treatment after it failed in a mid-stage trial, sending its shares plunging 84% before the bell. The trial tested two doses of the drug, zunsemetinib, along with anti-rheumatic drug methotrexate compared to placebo and methotrexate in patients with moderate to severe rheumatoid arthritis who have inadequate response to methotrexate alone. There was no notable differentiation between zunsemetinib and placebo across any measures of efficacy at 12 weeks, the company said. The company will also be halting enrollment in an ongoing mid-stage trial studying the drug in psoriatic arthritis. The drug developer said it is also studying its drug ATI-1777 in patients with moderate to severe atopic dermatitis which is currently in mid-stage trial.

Persons: Sriparna Roy, Maju Samuel Organizations: Aclaris Therapeutics, ATI, Thomson Locations: Bengaluru

Eight of the 11 major S&P 500 sectors were in the red, with rate-sensitive real estate stocks (.SPLRCR) down 1.2% and leading declines. This week's economic data as well as speeches from Fed officials will provide clues on the trajectory of interest rates amid growing expectations that the Fed is done hiking borrowing costs. The major U.S. stock indexes have rebounded strongly this month, fueled by a stronger-than-expected earnings season and on hopes that U.S. interest rates are near their peak. The benchmark S&P 500 (.SPX) closed at near eight-week highs on Friday, while the tech-heavy Nasdaq (.IXIC) hit a two-month peak. The S&P index recorded 11 new 52-week highs and one new low, while the Nasdaq recorded 19 new highs and 82 new lows.

Persons: Brendan McDermid, Peter Cardillo, Cardillo, Mike Johnson, Abbott, advancers, Sruthi Shankar, Amruta, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Boeing, Dow, Nasdaq, Federal Reserve, Treasury, Microsoft, Apple, Spartan Capital Securities, . House, Republican, Dow Jones, Novo Nordisk's, Bloomberg News, Max, NYSE, Thomson Locations: New York City, U.S, China, Bengaluru

Thursday's drop ended the longest winning streaks in two years for the S&P 500 (.SPX) and the Nasdaq. The S&P 500 posted its highest closing level since Sept 19. REUTERS/Brendan McDermid Acquire Licensing RightsAll 11 S&P 500 sectors ended in positive territory, led by a 2.6% gain for the technology sector (.SPLRCT). For the week, the Dow rose about 0.7%, the S&P 500 gained 1.3% and the Nasdaq climbed 2.4%. Data on Friday showed U.S. consumer sentiment fell for a fourth straight month in November, and households' expectations for inflation rose again.

Persons: Illumina, Jerome Powell, ”, Chuck Carlson, Rick Meckler, Brendan McDermid, ” Meckler, Lewis Krauskopf, Amruta, Maju Samuel, David Gregorio Our Organizations: Nasdaq, CPI, Dow, Federal, Investors, Treasury, Horizon Investment, Cherry Lane Investments, Dow Jones, Traders, New York Stock Exchange, REUTERS, Nvidia, Meta, Microsoft, NYSE, Thomson Locations: Hammond , Indiana, New Vernon , New Jersey, New York City, U.S, New York

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., October 27, 2023. Thursday's decline ended the longest winning streaks in two years for the S&P 500 (.SPX) and the Nasdaq Composite (.IXIC). The S&P 500 touched its highest level since Sept 20. All 11 S&P 500 sectors were in positive territory, with technology (.SPLRCT) leading the way, up 2.2%. On the Nasdaq, advancing issues outnumbered decliners by a 1.5-to-1 ratio, while the Nasdaq recorded 49 new highs and 318 new lows.

Persons: Brendan McDermid, Illumina, Jerome Powell, ”, Rick Meckler, ” Meckler, Lewis Krauskopf, Amruta, Maju Samuel, David Gregorio Our Organizations: New York Stock Exchange, REUTERS, CPI, Dow, Nasdaq, Federal, Investors, Treasury, Cherry Lane Investments, Dow Jones, Nvidia, Microsoft, NYSE, Thomson Locations: New York City, U.S, New Vernon , New Jersey, New York

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., October 27, 2023. "The comments yesterday were such that the theme of 'higher for longer' is more likely to manifest. So all eyes are focused on any other economic data or Fed comments that could give better feedback regarding the direction of both the economy and the markets going forward." Information technology (.SPLRCT), up 0.9% led sectoral gains, with nine out off 11 major S&P 500 sectors on the upside. The S&P 500 health sub-index (.SPXHC) fell 0.6%.

Persons: Brendan McDermid, Illumina, Jerome Powell's, Powell, Greg Bassuk, Amruta Khandekar, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, AXS Investments, Nvidia, Apple, Fed, Dow Jones, Unity Software, NYSE, Thomson Locations: New York City, U.S

☆ Futures mixed after Powell's hawkish tone; more data awaited
▼ + stars: | 2023-11-10 | by ( ) www.reuters.com time to read: +2 min

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., October 27, 2023. The S&P 500 (.SPX) and the Nasdaq (.IXIC) snapped their longest winning streak in two years in the previous session. ET, Dow e-minis were up 53 points, or 0.16%, S&P 500 e-minis were up 0.25 points, or 0.01%, and Nasdaq 100 e-minis were down 29.5 points, or 0.19%. The University of Michigan is set to issue a preliminary reading on its consumer sentiment index for November at 10 a.m. Illumina (ILMN.O) shares dropped 11.2% as the gene-testing company trimmed its full-year profit forecast for the second straight quarter.

Persons: Brendan McDermid, Jerome Powell's, Powell, Joshua Mahony, Mahony, Amruta Khandekar, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Wall, Treasury, Dow e, Fed, University of Michigan, Nvidia, Thomson Locations: New York City, U.S

☆ Plug Power shares dive on raising going concern doubts
▼ + stars: | 2023-11-10 | by ( ) www.reuters.com time to read: +2 min

Nov 10 (Reuters) - Shares of Plug Power (PLUG.O) plunged nearly 30% in premarket trading on Friday after the hydrogen fuelcell maker raised going concern doubts. Plug has been facing liquidity issues and has lost more than half of its market capitalization since the start of the year. Its annual financial performance has also been impacted by "unprecedented" supply challenges in the hydrogen network in North America. The Latham, New York-based Plug said cash and equivalents at the end on Sept. 30 stood at $110.8 million. Plug on Thursday also reported a bigger loss for the three months ended Sept. 30 and its revenue of $198.7 million widely missed estimate of $228.2 million, according to LSEG data.

Persons: The Latham, J.P, Morgan, Bill Peterson, Tanay, Maju Samuel Organizations: U.S . Department Of Energy, Thomson Locations: North America, New York, Bengaluru

However, the rally has run out of steam as several Fed policymakers this week pushed back against market expectations that the central bank will begin cutting interest rates soon. "The market got carried away regarding how soon it thought we would be seeing interest rate cuts being delivered. "But that was never the case and comments from various CB (central bank) officials this week have very much opened eyes to this." On the earnings front, shares of Walt Disney (DIS.N) rose 4.1% in premarket trade after the entertainment company exceeded Wall Street estimates for quarterly profit on higher attendance at its Shanghai and Hong Kong theme parks. MGM Resorts International(MGM.N) added 3.5% on beating third-quarter estimates for profit and revenue as the casino operator benefited from easing pandemic restrictions.

Persons: Brendan McDermid, Stuart Cole, Austan Goolsbee, Jerome Powell, Thomas Barkin, Walt Disney, Amruta Khandekar, Maju Samuel Organizations: Intercontinental Exchange Inc, New York Stock Exchange, REUTERS, Dow, Nasdaq, Federal Reserve, Treasury, Equiti, CB, Chicago Fed, Wall, International Monetary Fund, Richmond Fed, Labor Department, Dow e, Walt, Arm Holdings, Theatre, AMC Entertainment, MGM Resorts International, Thomson Locations: U.S, Shanghai, Hong Kong

☆ New York Times beats quarterly revenue estimates as ad sales rebound
▼ + stars: | 2023-11-08 | by ( ) www.reuters.com time to read: +1 min

People walk past the New York Times Building in New York August 14, 2013. New York Times Co spokeswoman Eileen Murphy said the company thinks the cause of the outage was related to a scheduled maintenance update, which occurred... Acquire Licensing Rights Read moreNov 8 (Reuters) - New York Times Co (NYT.N) beat estimates for quarterly revenue on Wednesday, benefiting from increasing advertising spend and more subscribers converting to higher-priced bundles. The company reported revenue of $598.3 million for the third quarter, above analysts' average estimate of $589.4 million, according to LSEG data. Subscription revenue grew 9.4% to $418.6 million in the three months to September, above estimates, as introductory promotional prices graduated to higher prices for many customers. Advertising revenue increased 6% year-over-year to $117.1 million, exceeding market expectations as well.

Persons: Eileen Murphy, Arsheeya, Maju Samuel Organizations: New York Times, New York Times Co, Times, Meta, Thomson Locations: New York, Bengaluru

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