(Reuters) – Peloton Interactive Inc is drawing interest from potential suitors including Amazon.com Inc, the Wall Street Journal reported on Friday, citing people familiar with the matter. The at-home exercise bike maker’s shares surged 40% in extended trading on Friday. Last month, activist investor Blackwells Capital called on the board of Peloton Interactive to remove…
By Rodrigo Campos and Marc Jones NEW YORK/LONDON (Reuters) – Developing world investors, buffeted by various “taper tantrums” over the last decade, are now nervously watching as the rainmaker of global markets – the U.S. Federal Reserve – readies its most aggressive rate hike cycle in 17 years. More hot jobs data on Friday drove…
By Noel Randewich (Reuters) -A day after Facebook owner Meta Platforms suffered the deepest loss of stock market value in history for a U.S. company, Amazon logged the greatest ever one-day increase in value. Shares of the online retail and cloud computing giant surged 13.5% on Friday following its blowout quarterly report, expanding its market…
SACRAMENTO, Calif. (AP) — A major California gas utility must pay the state nearly $10 million and reimburse customers money it improperly spent on work related to the development of energy efficient building codes. The penalties that Southern California Gas Co. faces were handed down Thursday by the California Public Utilities Commission. The commission, which…
By David French and Bansari Mayur Kamdar (Reuters) – Another bumpy ride ended on Friday with the Nasdaq recovering much of the ground it lost in the previous session, as Amazon’s positive earnings capped a week of mixed big-tech numbers. Amazon.com Inc jumped after reporting robust earnings in the holiday quarter. Results from megacap growth…
(Reuters) – Apple Inc is targeting a date on or near March 8 to unveil a low-cost 5G iPhone and an updated iPad, Bloomberg News reported on Friday, citing people with knowledge of the matter. According to the report, the new iPhone will be the first update to the iPhone SE model in two years…
By Mike Spector and Dan Levine NEW YORK (Reuters) -Johnson & Johnson created a plan last year to limit the financial bleeding from billions of dollars in jury awards to plaintiffs who alleged the company’s Baby Powder and other talc products caused deadly cancers. The healthcare and consumer-goods giant assigned more than 30 staffers to…
NEW YORK (AP) — Kohl’s says that recent offers to purchase the department store chain undervalue its business and that it is adopting a shareholder rights plan to head off any hostile takeovers. The shareholder rights plan, known as a “poison pill,” is effective immediately and set to expire on Feb. 2, 2023, the company…
By Julien Ponthus (Reuters) -Growth and technology stocks rebounded on Friday, as traders weighed stellar results from Amazon.com Inc against an unexpectedly strong U.S. employment number that propelled Treasury yields higher. The Nasdaq Composite index, which is heavy on tech and other growth stocks, was recently jumping about 2% a day after a historic crash…
WASHINGTON (AP) — The message the U.S. jobs report sent Friday was a surprising one: Despite a surge in viral cases in January, the labor market is so healthy that employers kept hiring last month at a pace that far surpassed anyone’s expectations. Before Friday, the widespread view was that COVID-19’s highly transmissible omicron variant…
