Stock Market News: MarketWatch, Wall Street Journal, Benzinga and more

Ever since the three-part documentary "The Beatles: Get Back" premiered on The Walt Disney Co.'s (NYSE: DIS) Disney+ streaming service, there has been an intense new focus on the Fab Four, with fans absorbing never-before-seen footage of the band in recording sessions and in their legendary final

Tocvan Announces Start of Exploration at Pilar and Updates on Financing

Benzinga - 11hr

Tocvan Announces Start of Exploration at Pilar and Updates on Financing

CNN Fires Chris Cuomo

Benzinga - 12hr

CNN has fired anchor Chris Cuomo following the revelations of in-depth details on how the prime time anchor assisted his brother, former New York Gov. Andrew Cuomo, when the latter was facing a growing controversy over sexual harassment accusations.

Bitcoin Price Tumbles After Wall Street Selloff

WSJ Markets - 12hr

The cryptocurrency was down by as much as 20%, hitting its lowest point in months.

If You Had $1,000 Right Now, Would You Buy The Dip In GameStop Or AMC?

Benzinga - 13hr

Every week, Benzinga conducts a survey to collect sentiment on what traders are most excited about, interested in or thinking about as they manage and build their personal portfolios. A number of retail investor favorite, high short interest stocks were trading lower this week in sympathy with the broader market.

Bitcoin Spikes Below $43K, Michaël van de Poppe Says Bitcoin Price Can Now Stabilize

Benzinga - 13hr

On Saturday, the price of Bitcoin (CRYPTO: BTC) spiked below $43,000, marking the biggest single-day drop since May, when it went down below $33,000.

Russia Troop Buildup Near Ukraine Raises Fears of Invasion

WSJ World - 13hr

Russian President Vladimir Putin is amassing a force expected to total 175,000 troops near the border with Ukraine, giving him the capability for a potential invasion of his neighbor by early 2022, U.S. officials said.

If You Had $1,000 Right Now, Would You Buy The Dip In Ethereum Classic, Shiba Inu, Litecoin Or Dogecoin?

Benzinga - 14hr

Every week, Benzinga conducts a survey to collect sentiment on what traders are most excited about, interested in or thinking about as they manage and build their personal portfolios.

Benzinga's Bulls And Bears Of The Past Week: Ford, Zillow, Salesforce, Meta And More

Benzinga - 14hr

Benzinga has examined the prospects for many investor favorite stocks over the past week. Last week's bullish calls included Chinese electric vehicle makers and a big three automaker.

France's Macron Secures Saudi Agreement to Re-Engage With Lebanon

WSJ World - 15hr

The French president says Saudi Arabia’s crown prince has agreed to re-engage with Lebanon after Riyadh cut ties with its neighbor, in the first trip by a major Western leader to the kingdom since the 2018 killing of dissident journalist Jamal Khashoggi.

3 Reasons Why Bitcoin And Rest Of The Crypto Bunch Are In A Freefall

Benzinga - 15hr

It was a "bloody Saturday" for Bitcoin (CRYPTO: BTC) and the altcoins, with selling continuing unabated cutting across the cryptoverse.

After Kraken Listing, Robinhood Under Pressure To Add Shiba Inu: Will The Trading App Yield?

Benzinga - 15hr

Meme cryptocurrency Shiba Inu (CRYPTO: SHIB) has a loyal following, which does not think twice about springing to support the dog-themed meme currency.

How Young Adults Can Start Saving and Investing

WSJ Markets - 19hr

Helping children and grandchildren begin building a nest egg is one of the best legacies you can share.

Just How Valuable Is Tax-Loss Harvesting?

WSJ Markets - 21hr

Research suggests that investors can get substantially higher returns by selling loser stocks and using the losses to offset their capital-gains tax liability.

Spotify Removes Some Comedians' Work From Streaming Service

WSJ USBusiness - 22hr

A push for royalty payments on comedic material has sidelined the work of Jim Gaffigan, John Mulaney and hundreds of other comedians on Spotify.

Arab Gulf States Compete for Influence in Taliban-Ruled Afghanistan

WSJ World - 22hr

The United Arab Emirates and Saudi Arabia are reopening diplomatic missions and restarting flights as they try to match Qatar’s sway in Kabul.

Bitcoin Buyers Flock to Investment Clubs to Learn Rules of the Road

WSJ Markets - 23hr

The crush of people flooding into crypto has left a large information void, so investors are turning to places like the Black Bitcoin Billionaires group, which meets on the social-media platform Clubhouse.

The Gift-Tax Benefits of '529' Plans

WSJ Markets - 23hr

Contributions to these state-sponsored education plans are considered gifts for tax purposes, up to a certain amount.

Nvidia's Deal Setback Eased by Soaring Chip Demand

WSJ USBusiness - 23hr

The FTC has sued to block Nvidia’s proposed takeover of Arm Holdings. But analysts say exploding growth in semiconductor demand is expected to ease the setback facing the chip maker if it can’t complete the deal.

Putin's Pledge to Become Carbon Neutral Rings Hollow

WSJ World - 1d

Moscow’s ambition goal of slashing emissions by 2060 clashes with Russia’s attachment to coal. In one Russian coal town, acrid air and sick children.

Fighting Inflation Without Getting Carried Away

WSJ Markets - 1d

No single investment strategy is a panacea for inflation. But not every option is a good one.

Think Your Job's Rough? Try Being the Assistant Manager

WSJ USBusiness - 1d

In a tight labor market, assistant managers have had to pitch in as cashiers, line cooks and dishwashers—generally without additional pay for extra hours on the job. “Thankless, overworked and underpaid.”

Elon Musk Needs China. China Needs Him. The Relationship Is Complicated.

WSJ USBusiness - 1d

To attract Tesla, Beijing rewrote its rules for foreign auto businesses and offered tax incentives and cheap land. In return, the company would jump-start China’s homegrown electric-vehicle industry. But now, the auto giant is entering bumpier terrain.

Apple's iPhone Successor Comes Into Focus

WSJ USBusiness - 1d

Could the augmented-reality headset or smart glasses become the tech giant’s next big thing?

Didi Hunts for Way to Delist, Rocking Chinese ADRs

WSJ Markets - 1d

Investors punished shares of Chinese companies traded in the U.S., as the ride-hailing giant’s attempted shift toward a Hong Kong listing heralded a new stage in a broader U.S.-China decoupling.

Apple Notified State Department Workers That Phones Were Hacked

WSJ USBusiness - 1d

Investigators have linked the attack to a tool developed by NSO Group, an Israeli technology company that was blacklisted by the Biden administration.

Tech Stocks, Omicron Concerns Pull Stock Markets Down

WSJ Markets - 1d

Major U.S. indexes gave up their strong early gains and turned lower, setting them on track to finish a bumpy week on Wall Street with losses.

Retailers Bolster Security After 'Flash Mob' Robberies

WSJ USBusiness - 1d

Thefts during the busy holiday shopping season mark an increase in intensity because of the size of the criminal groups and the organized nature of the crimes, said retail and security executives.

Lilly's Covid-19 Antibody Treatment Authorized for Use in Children

WSJ USBusiness - 1d

The FDA’s authorization expands the drug’s use to fight Covid-19 to people under the age of 12.

Twitter CEO Shakes Up Leadership Team to Spur Change

WSJ USBusiness - 1d

Moves by Parag Agrawal quickly follow the departure of Jack Dorsey late last month.

U.S. Government Bond Yields Slide After Jobs Data

WSJ Markets - 1d

Yields fall to multimonth lows with worries about tighter monetary policy and the Omicron variant weighing on expectations for economic growth.

Cathie Wood's ARK Innovation ETF Sinks During Selloff

WSJ Markets - 1d

A broad selloff in technology shares is punishing fund manager Cathie Wood’s flagship ARK Innovation exchange-traded fund.

Dow ends well off Friday's low, Nasdaq falls 1.8% and all 3 major stock-market indexes post weekly losses in wild week

MarketWatch - 1d

U.S. stock benchmarks closed lower Friday, but managed to finish off the day's worst levels, as investors wrestled with weaker-than-expected November jobs report. The Labor Department report showed that a mere 210,000 new jobs were created in the U.S. in November, well below estimates from economists polled by The Wall Street Journal for a gain of 573,000 new jobs. However, analysts say the lackluster jobs gain isn't likely to alter the Federal Reserve's plan to accelerate the scaling back of its monthly bond purchases at policy makers' next meeting in less than two weeks. Fed Chairman Jerome Powell and other members of the central bank's rate-setting committee have suggested that a faster tapering of asset purchases could be warranted to combat rising inflation pressures. The Dow Jones Industrial Average closed down 0.2% on Friday to reach 34,580, but the index had hit an intraday low at 34,264.57. For the week, the index closed down 0.9% to mark the fourth straight weekly decline. The S&P 500 index closed the day down 0.8% at 4,538 but had touched an intraday nadir at 4,495.10, while the Nasdaq Composite Index ended down 1.9% at 15,085. For the week, the S&P 500 lost 1.2%, for its second straight weekly drop, while the Nasdaq Composite booked a 2.6% weekly skid.

Wages Shoot Up in Travel, Food and Other In-Demand Industries

WSJ USBusiness - 1d

The jobs report showed U.S. wages continue to rise at a brisk pace in November. Signs also emerged that wage growth may be moderating.

Oil Prices Recover Some Losses After Omicron Drove Demand Fears

WSJ Markets - 1d

U.S. crude prices finished the week above Thursday lows, while Brent crude, the global benchmark, rose 0.3% to $69.88 Friday.

Former Unilever CIO Moves Into Health Care

WSJ USBusiness - 1d

Jane Moran is looking to bring a consumer focus to health system Mass General Brigham as its first chief information and digital officer.

Wall Street's 'fear index' shoots to highest level since January as S&P 500 skids lower, Nasdaq sinks toward correction

MarketWatch - 1d

A measure of implied volatility on Wall Street on Friday touched the highest level since late January as the S&P 500 index headed toward its second consecutive weekly loss. The CBOE Volatility Index jumped by about 24% Friday, trading around 34.6, which would mark the highest level for the index since Jan. 27, according to FactSet data. The index, also known as the VIX, for its ticker symbol, has become well known as Wall Street's "fear index," since it was created in the early 1990s. The VIX itself, which uses S&P 500 options to measure trader expectations for volatility over the coming 30-day period, tends to rise as stocks fall and is often therefore referred to as a guide to the level of investor fear. It had been trading below its historic average of around 19.5 until concerns about the omicron variant of the coronavirus that causes COVID-19 emerged last week. This Friday, the VIX was headed higher in the culimination of a weeklong selloff in equities as investors reassessed a weaker-than-expected November jobs report as unlikely to stay the hand of a Federal Reserve that seems intent on tamping down inflation. Meanwhile, the Nasdaq Composite Index , off 2.7%, was seeing the most significant selling pressure, among the main three stock benchmarks, bringing the index down more than 6% from its Nov. 19 record peak.

The Dow has shed over 2,000 points over past month as blue-chip, stock-market index heads for 4th weekly tumble

MarketWatch - 1d

The Dow Jones Industrial Average has shed about 2,000 points since the middle of November to this Friday, as bullish momentum unwinds. At last check, the Dow was down 360 points Friday afternoon, bringing the weekly drop to nearly 630 points, or 1.8%, and marking the fourth consecutive weekly decline for the benchmark of 30 blue-chip stocks, if the decline holds. From the weekly period started Nov. 12 to Dec. 3, the index has lost about 2,054 points. U.S. stock benchmarks were down Friday, as investors reassessed weaker-than-expected November jobs report as unlikely to stay the hand of a Federal Reserve that seems intent on tamping down inflation. Worries about the spread of the omicron variant of the coronavirus that causes COVID-19 and fears about the Federal Reserve's monetary policy plans, was helping to undercut bullish momentum on Wall Street.

Eli Lilly's COVID-19 treatment now authorized high-risk patients 'of any age'

MarketWatch - 1d

Eli Lilly & Co. said Friday that the U.S. Food and Drug Administration has expanded the Emergency Use Authorization (EUA) for its bamlanivimab and etesevimab, taken together, to treat certain high-risk patients that are under the age of 12, even newborns. "With the FDA's decision to allow use of bamlanivimab with etesevimab in children and infants, Lilly can now offer treatment and prevention options to high-risk individuals of any age," said Daniel Skovronsky, Lilly's chief scientific and medical officer. Lilly said bamlanivimab and etesevimab taken together retains neutralization activity against the delta variant of the coronavirus that causes COVID-19, and the drug maker is working to understand neutralization activity on the omicron variant. Lilly's stock, which fell 1.9% in afternoon trading Friday, has rallied 44.0% year to date, while the S&P 500 has gained 19.7%.

Lilly's COVID-19 antibody treatment authorized for young children and infants

MarketWatch - 1d

Shares of Eli Lilly & Co. were down 1.6% in trading on Friday after the company said the Food and Drug Administration has extended the emergency authorization for its COVID-19 antibody therapy to include children younger than 12 years old. This is the first authorization for a monoclonal antibody treatment for infants and children. Lilly said the therapy can now be used in high-risk children as a treatment or for post-exposure prophylaxis. The company also said that more than 700,000 patients have been treated with bamlanivimab or a combination of bamlanivimab and etesevimab. Lilly's stock is up 44.5% so far this year, while the broader S&P 500 has gained 21.6%.

Gains in Workforce Point to Loosening of Labor Market

WSJ USBusiness - 1d

Slower hiring is clouding a recovery that also faces new Covid uncertainties.

U.S. oil futures post a sixth consecutive weekly decline

MarketWatch - 1d

U.S. oil futures gave up early Friday gains to settle with a loss, suffering a sixth weekly decline in a row. While the decision by the Organization of the Petroleum Exporting Countries and their allies on Thursday to "formally keep their meeting 'in session' means that they are watching developments closely and could reconvene at any time to begin to renegotiate the deal, this just speaks to the current uncertainty in the market when it comes to the ultimate impact the omicron variant will have on demand," said Troy Vincent, senior market analyst at DTN. "It's simply too early to tell." January West Texas Intermediate crude fell 24 cents, or 0.4%, to settle at $66.26 a barrel on the New York Mercantile Exchange, after trading as high as $69.22. For the week, prices based on the front-month contract, lost 2.8%, according to FactSet data.

Declining Jobless Rate Keeps Fed on Track to Accelerate Taper

WSJ USBusiness - 1d

The Federal Reserve could act at its meeting later this month, paving the way to raise interest rates in the first half of next year to curb inflation.

Omicron Cases at Norway Christmas Party Provide Clues on New Variant's Spread

WSJ World - 1d

The event at an upscale Oslo restaurant included about 120 people, several of whom had just returned from South Africa.

Merck to supply Government of Canada with up to 1 million courses molnupiravir, its COVID-19 pill

MarketWatch - 1d

Merck & Co. Inc. said Friday that it has entered into an agreement to supply the Government of Canada with up to one million patient courses of its COVID-19 pill, molnupiravir, which is being developed in collaboration with Ridgeback Biotherapeutics. Earlier this week, an advisory panel recommended that the drug maker's oral antiviral treatment of COVID-19 be authorized by the U.S. Food and Drug Administration. Under terms of the supply agreement, Merck will supply 500,000 patient courses of molnupiravir in 2022, and has granted options for up to 500,000 more courses, pending approval by Health Canada. Merck's stock fell 0.8% in afternoon trading. It has lost 5.1% over the past three months, while the Dow Jones Industrial Average , of which Merck is a component, has slipped 2.7%.

Citi upgrades Morgan Stanley to buy from neutral

MarketWatch - 1d

Citi Research analyst Keith Horowitz on Friday upgraded shares of Morgan Stanley to buy from neutral, and hiked the firm's price target to $115 a share from $105 a share. Horowitz said the investment bank has "successfully improved returns far beyond expectations" with strength in its wealth management unit. "If there is one large cap bank that can move into a growth premium, we believe it is MS given the mousetrap they have built to capture wealth assets is very sound strategically and with their track record...we believe there is a strong likelihood they will execute on this opportunity," Citi said. "We don't think it's a stretch that the market will reward them with a growth multiple over time driving the multiple higher." Shares of Morgan Stanley are up 42.9% in 2021, compared to a rise of 20.1% by the S&P 500.

Biden signs bill to avert government shutdown as Washington turns to debt limit, defense bill

MarketWatch - 1d

President Joe Biden on Friday signed a bill that will keep the federal government running through Feb. 18, resolving the threat of a weekend shutdown. Washington is staring down other must-pass items, however, including raising the debt limit and an annual defense bill. Top Democrats are also aiming to pass Biden's massive social-spending and climate bill in the Senate before Christmas, though that timeline could slip.

Smith & Wesson's stock plunges toward biggest 1-day selloff since March 2020

MarketWatch - 1d

Shares of Smith & Wesson Brands Inc. plummeted 29.9% in afternoon trading Friday, putting them on track for their biggest one-day selloff since March 2020. The gun maker reported after Thursday's closing bell fiscal second-quarter profit and revenue that missed expectations, demand levels declined from pandemic-related highs, and the stock ended Thursday's after-hours session with a decline of about 15%. The stock fell even further after Friday's open, after the parents who bought the gun used by their son to kill four students at Michigan school were charged with involuntary manslaughter. The stock, which was on track for the lowest close since March 5, has now plunged 54.7% since closing at a record $35.40 on July 1. Shares of fellow firearms maker Strum Ruger & Co. tumbled 11.1% toward the lowest close since Jan. 29, and have now lost 29.3% since closing at a record $89.98 on June 30. Year to date, Smith & Wesson shares have lost 9.6% and Sturm Ruger's stock has slipped 2.3%, while the S&P 500 has gained 20.1%.

Gold futures climb, end slightly lower for the week

MarketWatch - 1d

Gold futures climbed sharply on Friday, getting a boost from disappointing monthly U.S. jobs data, but prices still posted a slight loss for the week after settling Thursday at their lowest in more than seven weeks. "Gold has not performed well this week, as we are concerned about the potential of deflation," said James Hatzigiannis, chief market strategist at Ploutus Capital Advisors. The Federal Reserve is set to be more aggressive and with inflation rising, that could "result in the central bank ending asset purchases sooner than we have expected for the next year," he said. "That is why you have not seen that haven appeal gold typically shows." February gold rose $21.20, or 1.2%, to settle at $1,783.90 an ounce. A week ago, the most-active contract settled at $1,785.50.

While Shell Resists Breakup, Rivals See Opportunity From Spinoffs

WSJ Markets - 1d

Shell is standing firm against Third Point’s call for a breakup to retain and attract investors. But that isn’t stopping Eni and other European energy conglomerates from targeting similar moves to boost shareholder returns.

While Shell Resists Breakup, Rivals See Opportunity From Spinoffs

WSJ USBusiness - 1d

Graco boosts dividend by 12%

MarketWatch - 1d

Graco Inc. said Friday it is raising its quarterly divided by 12%, to 21 cents a share from 18.75 cents. Shareholders of record as of Jan. 18 will be paid the dividend on on Feb. 2. The fluids and coatings management company's stock fell 1.6% in midday trading. At current prices, the new annual dividend rate implies a dividend yield of 1.13%, which compares with the implied yield for the S&P 500 of 1.37%. The stock has gained 2.6% year to date, while the S&P 500 has slipped 0.6%.

Public-Service Loan 'Forgiveness': Answers to Common Questions

WSJ Markets - 1d

The rules have changed for a limited period for student loans tied to public-sector workers. Here is what borrowers should keep in mind.

Nasdaq Composite loses perch at 15,000 as stock-market benchmark falls to 7-week low

MarketWatch - 1d

The Nasdaq Composite was facing a fresh selloff Friday, capping a tumultuous week for the benchmark, as investors sold technology and technology-related shares, amid growing concerns that higher borrowing costs are in store for the U.S. economy. The Nasdaq Composite was trading 2.6% lower at 14,979, falling below 15,000 for the first time since Oct. 15, FactSet data show. The decline for the index comes amid a broader decline in the S&P 500 index and the Dow Jones Industrial Average , after a weaker-than-expected November jobs report was seen as unlikely to stay the hand of a Federal Reserve that seems intent on tamping down inflation.

China Evergrande Requests Help From Government as Debt Crunch Looms

WSJ Markets - 1d

The government of Guangdong, China’s province where the struggling developer is based, says it will dispatch a working group at the request of Evergrande to help the company manage its risks.

Turkey's Economic Turmoil Sends Desperation and Inflation Soaring

WSJ World - 1d

President Erdogan has taken control of the economy and pushed lower interest rates as the currency plunges. Turks have been lining up for subsidized bread and cutting back on meat.

Jobs Report Gets a Participation Trophy

WSJ Markets - 1d

A drop in the unemployment rate in the face of tepid payrolls growth last month hints at growing labor-force participation, but it is too early to celebrate—especially with the Omicron variant looming.

Turkey's Economic Turmoil Sends Desperation and Inflation Soaring

WSJ USBusiness - 1d

President Erdogan has taken control of the economy and pushed lower interest rates as the currency plunges. Turks have been lining up for subsidized bread and cutting back on meat.

Why Investors Are Often Bullish in December

WSJ Markets - 1d

Whatever the reason, one consequence is that a bear market is unlikely to begin in the last few weeks of the year.

Didi to Delist From U.S., Seek Shift to Hong Kong

WSJ Markets - 1d

Didi Global plans to delist its shares in the U.S. and pursue a listing in Hong Kong, a dramatic reversal just months after the Chinese ride-hailing group’s ill-fated initial public offering in New York.

OceanPal contracts dry bulk ship at daily rate that is 80% above current rate

MarketWatch - 1d

OceanPal Inc. said Friday that it contracted out its dry bulk vessel, m/v Calipso, at a daily rate that is 80% higher than current rates. OceanPal's stock, which started trading on the Nasdaq on Nov. 30 after the Greece-based company's spinoff from Diana Shipping Inc. was completed, dropped 14.4% in morning trading; after closing at $5.22 on Tuesday, it rose 25.3% on Wednesday then fell 16.7% on Thursday. OceanPal said Friday that it entered into a time charter trip contract for m/v Calipso, which is a Panamax carrier with 73,691 deadweight tonnage (DWT), at a gross charter rate of $18,750 per day for about 15 to 20 days. The m/v Calipso is currently chartered at a gross charter rate of $10,400 per day.

AppLovin's stock drops after upsized offering by shareholders prices at discount

MarketWatch - 1d

Shares of AppLovin Corp. slumped 8.9% toward a two-month low in morning trading Friday, after the app-software company said a secondary stock offering, which was upsized by 15%, priced at an 8.1% discount. The company, which went public in April, said selling shareholders offered 7.5 million shares in the offering, up from previous expectations of a 6.5 million share offering when the secondary was announced late Thursday. The shareholders raised $622.5 million, as the offering priced at $83.00, below Thursday's closing price of $90.32. The stock, which has tumbled 28.7% since closing at a record $114.85 on Nov. 11, has still gained 5.6% over the past three months while the S&P 500 has gained 1.2%.

U.S. stock market aims for back-to-back gains, even as employment report shows 210,000 jobs created in November

MarketWatch - 1d

U.S. stocks opened modestly higher Friday morning, as investors parsed a jobs report that came in much weaker than expected on a headline basis but appeared to offer some fodder for bullish investors worried about a rapid pace of interest-rate increases by the Federal Reserve. The Labor Department reported that a mere 210,000 new jobs were created in November, well below estimates from economists polled by The Wall Street Journal for a gain of 573,000 new jobs. However, the report did have some strong points. The jobless rate fell to 4.2% from 4.6%, and touched a new pandemic low. Economists say the official rate likely underestimates the true level of unemployment by a few percentage points, however. The Dow Jones Industrial Average was climbing 134 points, or 0.4%, at 34,774, the S&P 500 index advanced 0.6% to reach 4,602, while the Nasdaq Composite Index climbed 0.3% to reach 15,421. The labor figures come as the market is wrestling with the economic impact of the omicron variant of the coronavirus that causes COVID-19. The variant has triggered fresh restrictions around the world, and has prompted the Federal Reserve to consider increasing the pace of removing market accommodations to slow inflation. Fed boss Jerome Powell, in congressional testimony earlier this week, said that he feared that the omicron variant might amplify inflation pressures.

Retail sector loses 20,000 jobs in November

MarketWatch - 1d

The U.S. government's November jobs report showed that the retail sector lost 20,000 jobs last month, after the sector had gained 91,000 jobs in the previous two months. The sector's job losses come as the overall report showed nonfarm payrolls increased by just 210,000 in November, well below expectations of 573,000 new jobs. The retail sector's job losses included a declines of 20,000 jobs in general merchandise stores; 18,000 jobs in clothing and clothing accessories stores; and 9,000 jobs in sporting goods, hobby, book and music stores. That was partially offset by increases of 9,000 jobs in food and beverage stores and of 7,000 jobs in building material and garden supply stores. In November 2020, retail employment fell by 35,000, and in November 2019 retail employment increased by 2,000. Retail trade employment is now 176,000 less than it was in pre-pandemic February 2020. The SPDR S&P Retail ETF , which was little changed in premarket trading Friday, has rocketed 130% since the end of February 2020 while the S&P 500 has climbed 55%.

Didi Global, Ulta Beauty, Nvidia: What to Watch When the Stock Market Opens Today

WSJ Markets - 1d

New York-listed Didi Global shares fell premarket after the carmaker said it planned to delist in the U.S.

Allianz Strikes Deal Over Management of $35 Billion in U.S. Annuities

WSJ Markets - 1d

The financial giant’s U.S. life insurer reached an agreement to reinsure liabilities of $35 billion in one of the largest transactions of its kind.

Omicron Variant Puts Companies on Notice This Holiday Season

WSJ USBusiness - 1d

Concerns about a new Covid-19 variant are prompting some U.S. businesses to double down on vaccine mandates and to rethink hosting holiday festivities this month, while many others are taking a wait-and-see approach as they look to government agencies for more guidance.

GTCR portfolio company Resonetics valued at $2.25 billion in minority stake sale to Carlyle

MarketWatch - 1d

Private equity firms GTCR and Sverica Capital Management said Friday they sold a minority equity stake in portfolio company, Resonetics to funds affiliated with Carlyle in a deal that values the Nashua, N.H., medical micro-device manufacturer at about $2.25 billion. The firms did not disclose the dollar amount of the minority investment. Carlyle will join GTCR as a "meaningful shareholder" in Resonetics, the firms said. GTCR made its initial investment in Resonetics in 2018 in partnership with medical technology industry executive Robert "Chip" Hance. GTCR teamed up with Hance to form Regatta Medical in April 2017 to pursue opportunities in the medical device sector. In 2018, Regatta Medical announced a recapitalization transaction with Resonetics, for an undisclosed price. Sverica Capital management invested in Resonetics in 2014 and will retain a minority stake in the company.

AmEx Business Travel Going Public Through Merger With Apollo SPAC

WSJ USBusiness - 1d

The booking services provider under CEO Paul Abbott is merging with a blank-check company after it made several acquisitions during the pandemic.

American Express Global Business Travel confirms $5.3 billion merger deal with SPAC Apollo Strategic Growth

MarketWatch - 1d

Shares of American Express Co. rose 0.8% in premarket trading Friday, after American Express Global Business Travel (GBT), which is 50% owned by AmEx, confirmed that it will go public through a merger with special-purpose acquisition company (SPAC) Apollo Strategic Growth Capital in a deal that values the combined company at $5.3 billion. The Wall Street Journal had previously reported that a deal was near. The merger will provide $1.2 billion in gross proceeds, including $335 million in private investment in public equity (PIPE) from investors including Zoom Video Communications Inc. , Sabre Corp. and Apollo Global Management Inc. . After the deal closes, which is expected to occur in the first half of 2022, the combined company will be named Global Business Travel Group Inc. and is expected to be the world's largest publicly traded business-to-business travel platform. The company is expected to list on the NYSE under the ticker symbol "GBTG." "We expect that becoming a listed company will give us the additional investment capacity to strengthen our commitment to providing unrivaled value, choice and experiences to our customers and partners," said GBT Chief Executive Paul Abbott. American Express' stock has slipped 1.6% over the past three months, while the Dow Jones Industrial Average has lost 2.1%.

Rent-A-Center announces new $500 million share buyback authorization, raises dividend by 10% to 34 cents a share

MarketWatch - 1d

Leasing company Rent-A-Center Inc. said Friday its board has approved a new $500 million share buyback authorization, following the recent completion of its $250 million authorization. The Plano, Texas-based company said the board has also approved a 10% increase in its quarterly cash dividend, raising it to 34 cents a share. The dividend will be paid Jan. 13 to shareholders of record as of close of business Dec. 16. Shares were not yet active premarket, but have gained 17% in the year to date, while the S&P 500 has gained 21.9%.

Companies Cling to Libor as Key Deadline Nears

WSJ USBusiness - 2d

Banks can’t issue new loans using the troubled rate after Dec. 31, so some companies are looking to pull off one last deal before then.

Senate Approves Spending Bill Averting Government Shutdown

WSJ USBusiness - 2d

A fight over vaccine rules threatened to slow progress on the legislation, which extends government funding through Feb. 18. The bill now goes to President Biden.