Cathie Wood Cuts Apple Stake Almost Entirely — And Buys More Coinbase

Benzinga - 15min

Cathie Wood-led Ark Investment Management on Monday shed nearly all of its stake in Apple Inc (NASDAQ: AAPL) and continued to snap up shares of Coinbase Global Inc (NASDAQ: COIN).

Elon Musk Slips From Second Position In The Rich List As Tesla Shares Continue To Slump

Benzinga - 35min

Tesla Inc (NASDAQ: TSLA) CEO Elon Musk has lost his spot as the world’s second-richest person in the Bloomberg Billionaires Index.

Fidelity's Pitch to America's Teens: No-Fee Brokerage Accounts

WSJ Markets - 2hr

There are some 27 million teens in the U.S., and several million households already have an account with the wealth manager.

Elon Musk's Mood Swings Split Bitcoin Market Into Paper Hands And Diamond Hands, Shows On-Chain Data

Benzinga - 2hr

Bitcoin (BTC) has fallen nearly 20% in a seven-day period leading up to press time after Tesla Inc (NASDAQ: TSLA) CEO Elon Musk’s

Shiba Inu Outperforms Bitcoin, Ethereum, Dogecoin With Vitalik Buterin Push, But These Coins Are Really Charging Ahead

Benzinga - 3hr

Self-described "Dogecoin (DOGE) killer" SHIBA INU (SHIB) outperformed Bitcoin (BTC) and Ethereum (ETH) on a 24-hour basis, but these are the real show-stealers.

Elon Musk On Tesla Giga Berlin Delay Says 'Less Bureaucracy, That Would Be Better'

Benzinga - 4hr

Tesla Inc. (NASDAQ: TSLA) CEO Elon Musk has blamed German bureaucracy for the delay in starting production at the Berlin Gigafactory, Reuters reported.

President Biden Supports Cease-Fire in Call With Netanyahu

WSJ World - 4hr

Israelis rule out an immediate end to hostilities, saying they seek to destroy Hamas’s military infrastructure and tunnel network.

AT&T to Combine WarnerMedia Assets With Discovery

WSJ USBusiness - 4hr

The deal would merge the telecom giant’s media assets, including CNN and HBO, into a new company, unwinding AT&T’s big bet on entertainment after less than three years.

AT&T's Hollywood Ending Erased Billions in Value

WSJ USBusiness - 5hr

The telecommunications giant is giving up its dreams of marrying content and distribution—one of the biggest about-faces in corporate deal history. Company plans to spin off HBO, CNN, Warner Bros. studio and other assets.

EV startup Canoo narrows quarterly loss, discloses SEC probe

MarketWatch - 5hr

Shares of Canoo Inc. fell in the extended session Monday after the electric-vehicle startup reported a narrower-than-expected quarterly loss and disclosed it is being investigated by the Securities and Exchange Commission. Canoo said it lost $15.2 million, or 7 cents a share, in the first quarter, compared with a loss of $30.9 million, or 37 cents a share, in the first quarter of 2020. FactSet consensus, drawn from three analyst estimates, called for a GAAP loss of 21 cents a share for the quarter. Canoo said it ended the quarter with $641.9 million in cash and equivalents. "We are on track to start production in 2022 and ramp to 15,000 units in 2023," Chief Executive Tony Aquila said in a statement. Canoo's planned-for vehicles include a delivery van and a pickup truck. The stock ended the regular trading day up 3.5%. Canoo went public in December after a reverse merger with a blank-check company. In the earnings call, Aquila said the SEC recently notified the company it is conducting a "fact-finding inquiry," and declined to take questions about the matter.

China's Economic Recovery Slowed in April

WSJ World - 6hr

The pace of growth in China’s economic activity slowed in April as retail sales missed expectations, complicating the picture of a steady and balanced recovery in the world’s second-largest economy.

China's Economic Recovery Slowed in April

WSJ USBusiness - 6hr

The pace of growth in China’s economic activity slowed in April as retail sales missed expectations, complicating the picture of a steady and balanced recovery in the world’s second-largest economy.

Elon Musk Threw The DOGE A Bone: What's Next?

Benzinga - 6hr

Dogecoin’s (CRYPTO: DOGE) price fell following Tesla Inc (NASDAQ: TSLA) CEO Elon Musk’s "Saturday Night Live" appearance on May 8 and faltered again in sympathy with Bitcoin (CRYPTO: BTC), after “The Dogefather” announced in a tweet&nb

Small Exchange Lowers Barrier To Energy Market Volatility With SMO Crude Oil Future

Benzinga - 6hr

The Small Exchange announced the launch of a new product, the Small US Crude Oil Futures (SMO) contract.

He Said Whaaaaat? 10 Zaniest Elon Musk Tweets

Benzinga - 7hr

Ever since former President Donald Trump was sent into the digital equivalent of the Land of Nod, the reigning provocateur on Twitter Inc (NYSE: TWTR) has been the self-crowned Tesla Inc. (NASDAQ: TSLA) technoking Elon Mu

Why The Discovery-AT&T Deal Poses A Credible Threat In Streaming Wars

Benzinga - 7hr

One of the biggest megamergers in the entertainment industry — between streaming assets from AT&T Inc (NYSE: T) and Discovery Communications (NASDAQ:

Indonesia's Gojek, Tokopedia Announce Merger To Create A Powerhouse

Benzinga - 7hr

Indonesia's Gojek, Tokopedia Announce Merger To Create A Powerhouse

EXCLUSIVE: PubMatic CEO Talks Digital Advertising On 'Money Mitch'

Benzinga - 7hr

Rajeev Goel, the co-founder and CEO of the online advertising company PubMatic Inc (NASDAQ: PUBM), appeared on Benzinga's YouTube show "Money Mitch" for an exclusive interview Monday. 

Credit Suisse Faces Banker Exodus After $5.5 Billion Archegos Hit

WSJ Markets - 7hr

At least 10 managing directors in the Swiss firm’s U.S. investment-banking division have internally disclosed plans to leave, most for rival firms.

Fintech Focus For May 18, 2021

Benzinga - 7hr

Quote To Start The Day: “All the arrows are pointed in the right direction, so let’s get back to life.”

Dave Portnoy Wants To Become A Leader In Safemoon With $40K Investment: 'Invest At Your Own Risk'

Benzinga - 7hr

Barstool Sports Founder Dave Portnoy held one of his emergency press conferences Monday to make a new cryptocurrency.

Why People Are Turning On Chrissy Teigen (Hint: Old Mean Tweets)

Benzinga - 8hr

It looks like Chrissy Teigen cooked herself up a stew of trouble as Macy's Inc. (NYSE: M) dropped her line of kitchenware after she apologized for 10-year-old tweets suggesting model Courtney Stodden should commit suicide.

Elon Musk Tweet Prompts Bitcoin Selloff

WSJ Markets - 8hr

A tweet from the Tesla CEO prompted speculation that the electric-car maker had sold, or would sell, its holdings of the cryptocurrency.

US Cannabis Legislation Update: 'SAFE Act Gaining Steam'

Benzinga - 8hr

The ETFMG Alternative Harvest ETF (NYSE: MJ) is down 26.3% in the last three months as efforts to push for federal U.S. cannabis legalization haven’t progressed as quickly in Washington, D.C. during the early innings of the Joe Biden administration as some investors had hoped.

EBay taps JetBlue Airways executive to be its new CFO

MarketWatch - 8hr

EBay Inc. said late Monday it has named Steve Priest its new chief financial officer, starting on June 21. Priest is currently JetBlue Airways Corp.'s as the airline's CFO, and also spent nearly 20 years at British Airways. EBay said interim CFO Andy Cring will continue in his role until Priest joins next month, and assist with the transition. Shares of eBay rose 0.2% in the extended session, while shares of JetBlue fell 0.1%. JetBlue said that its head of treasury and investor relations Ursula Hurley will be acting CFO once Priest departs in mid-June.

Saudi Crown Prince's Crackdown Spurs New Generation of Activists

WSJ World - 9hr

Public pressure from the family of a Saudi women’s rights activist who was jailed is emboldening the families of other detainees to speak out, swelling the ranks of critics of Crown Prince Mohammed bin Salman’s suppression of perceived opponents.

AT&T Stock Pares Gains After Discovery Deal

WSJ Markets - 9hr

Stock and bond prices initially rose after the telecom company and Discovery announced plans to combine media assets, as analysts expect the deal to help reduce AT&T’s debt. But the stock has since turned lower.

Despite Lumber Boom, Few New Sawmills Coming

WSJ USBusiness - 9hr

Executives in the cyclical business of sawing logs into lumber say they are content to rake in cash while lumber prices are sky-high and aren’t racing out to build new sawmills.

Energy and Materials Stocks Are Leading the Way

WSJ Markets - 9hr

Higher demand for the companies’ products as the economy picks up could outpace an accompanying increase in supply.

Despite Lumber Boom, Few New Sawmills Coming

WSJ Markets - 9hr

Executives in the cyclical business of sawing logs into lumber say they are content to rake in cash while lumber prices are sky-high and aren’t racing out to build new sawmills.

Index Giant S&P Settles Charges Over Volatility Gauge

WSJ Markets - 9hr

The Securities and Exchange Commission said S&P Dow Jones Indices failed to properly oversee a volatility-related benchmark that landed at the center of market turmoil in 2018.

: Twilio to acquire ZipWhip for $850 million

MarketWatch - 9hr

Twilio Inc. TWLO said late Monday it plans to acquire business-texting platform ZipWhip for about $850 million in cash and stock. The company said ZipWhip will become a part of its Messaging Business Unit. The company expects the deal to close by the end of 2021. Twilio reiterated its second-quarter revenue guidance of $591 million to $601 million, noting that it would not be affected by the deal, while analysts surveyed by FactSet expect $597.1 million. Twilio shares were flat after hours, following a 0.7% decline to close at $297.20, for a 12-month gain of 57%, compared with the Nasdaq Composite Index’s COMP 48% gain.

U.S. Stocks Finish Lower to Start the Week

WSJ Markets - 9hr

The S&P 500 edged down in Monday trading after inflation whipsawed markets last week.

U.S. stock market ends lower Monday but off low as tech and communication-services stocks slump

MarketWatch - 9hr

U.S. stocks ended slightly lower Monday, weighed by declines technology and tech-related shares, as concerns about inflation continued to buffet Wall Street, following the worst week for stocks since Feb. 26. The Dow Jones Industrial Average finished about 0.2% lower at 34,328, off the low for the day at 34,176.65, with shares of Walt Disney & Co. and Home Depot leading the blue-chip benchmark's slide. The S&P 500 index closed off 0.3% at roughly 4,163, led lower by technology and communicatiion-services shares, while the Nasdaq Composite Index retreated 0.4% to 13,379, off a low of 13,265. The slump for stocks came as gold futures jumped, settling above their 200-day moving average and marking the highest finish for the most-active contract since early February. Federal Reserve Vice Chairman Richard Clarida, the Fed's No.2, said the U.S. economy had yet to reach the "substantial further progress" that would be needed to peel back accommodative policies, even as investors fear that inflation is set to run hotter than the central bank is predicting. In corporate news, AT&T shares fell 2.7% after it agreed to combine media assets with Discovery Inc. and spin them off into a new, publicly traded company. Shares of Disovery fell more than 5%.

Chile Elects Left-Leaning Assembly to Replace Dictatorship-Era Constitution

WSJ World - 10hr

The assembly will draft a new constitution for Chile that is expected to pave the way for a significant increase in social spending.

Covid-19 Wrecked the Algorithms That Set Airfares, but They Won't Stay Dumb

WSJ USBusiness - 10hr

Summer vacations are coming back. So are the airline algorithms that know how much you are prepared to pay for them.

Covid-19 Wrecked the Algorithms That Set Airfares, but They Won't Stay Dumb

WSJ Markets - 10hr

Summer vacations are coming back. So are the airline algorithms that know how much you are prepared to pay for them.

Elliott Urges Duke Energy to Consider Separation Into Three Companies

WSJ USBusiness - 10hr

The activist investor is seeking board seats at Duke and wants the company to form a strategic-review committee.

Pandemic Hit Less-Educated Workers Hardest, Fed Survey Shows

WSJ USBusiness - 11hr

Economic well-being fell sharply for people without a high-school degree in 2020, while rising for more-educated groups.

U.S. oil futures end at highest in more than 2 years

MarketWatch - 11hr

Oil futures climbed Monday, with optimism that an economic recovery in the U.S. and Europe will lead to higher energy demand sending U.S. prices to their highest settlement in more than two years. Prices got a boost on "hopes that large parts of Europe will soon be able to follow the U.K. on easing restrictions further, thus driving up demand over the next few weeks," said Michael Hewson, chief market analyst at CMC Markets UK. June West Texas Intermediate crude rose 90 cents, or 1.4%, to settle at $66.27 a barrel on the New York Mercantile Exchange. That was the highest front-month contract finish since April 23, 2019, when prices settled at $66.30, FactSet data show.

How to Get Schooled by Chinese Education Stocks

WSJ Markets - 12hr

Shares of tutoring companies took a dive after a report that China may introduce tough rules on the sector. Investors have been ignoring political risk in the country’s education stocks for too long.

Stonepeak and Charging Firm Nuvve Want to Electrify School Buses

WSJ Markets - 12hr

The private-equity firm is forming a joint venture with a newly public supplier of charging technology.

Gold prices climb to highest finish since January

MarketWatch - 12hr

Gold futures on Monday posted their strongest daily gain in more than week to mark the highest settlement since January. Prices finished higher on the back of weakness in the U.S. dollar as well as losses in the U.S. benchmark stock indexes. Also providing support, Federal Reserve Vice Chairman Richard Clarida said Monday that the U.S. economy hasn't hit the benchmark of "substantial further progress" needed for the Federal Reserve to scale back asset purchases. June gold climbed $29.50, or 1.6%, to settle at $1,867.60 an ounce, with prices for the most-active contract at their highest since Jan. 7, according to FactSet data.

U.S. plans to send 20 million more COVID vaccine doses overseas: White House

MarketWatch - 13hr

The U.S. plans to send 20 million COVID-19 vaccine doses authorized for use in the U.S. to other countries battling the pandemic by the end of June, White House press secretary Jen Psaki said Monday, as she said President Joe Biden will be officially announcing that later in the day. Those doses from Pfizer , Moderna or Johnson & Johnson are in addition to sending 60 million doses from AstraZeneca , she said.

CVS, Target Drop Face-Mask Rules for Fully Vaccinated Customers

WSJ USBusiness - 13hr

The two companies joined other U.S. retailers that have changed their policies after federal health officials relaxed their guidelines.

New York Gov. Andrew Cuomo says state will adopt CDC's new mask guidelines on Wednesday

MarketWatch - 13hr

New York Gov. Andrew Cuomo announced Monday that the state will adopt the CDC's new mask guidelines starting Wednesday. Masks will no longer be required for vaccinated people, except in nursing homes, schools, homeless and health-care facilities. Wednesday also marks the next stage of the state's reopening as most capacity restrictions will be lifted, which was previously announced. The subway, meanwhile, returned to 24-hour service on Monday. - Pete Catapano

AT&T Needed to Dial Back Media Dreams

WSJ Markets - 13hr

Merging WarnerMedia with Discovery creates a cleaner story for the telecommunications giant.

Duke Energy's stock spikes up, then pares gains after WSJ report that activist investor is urging to split up

MarketWatch - 14hr

Shares of Duke Energy Corp. spiked up as much as 4.8% in midday trading, before paring gains to be up 0.7%, after The Wall Street Journal reported that activist investor Elliott Management Corp. is urging the electric utility to separate into three companies. The stock was the best performer among components of the SPDR Utilities Select Sector ETF , which fell 0.5% in midday trading. The WSJ report said Elliott is seeking seats on Duke's board of directors, and wants the company to for a committee to explore the possibility of separating into three companies, based on the three major geographies the company serves, which are the Carolinas, Florida and part of the Midwest. The WSU previously reported that Elliott was one of Duke's 10-largest shareholders. Duke's stock has gained 13.3% year to date, while utilities ETF has tacked on 4.7% and the S&P 500 has advanced 10.5%.

Tax Day: Here's What You Need To Know About Today's Tax Deadline

WSJ Markets - 14hr

The Internal Revenue Service is again offering relief to individual taxpayers, delaying by about a month the deadline for filing and paying 2020 tax returns.

Your New Office Mates: All Those Pandemic Puppies

WSJ USBusiness - 14hr

Pet-friendly workplaces puzzle out safe returns; no petting other people’s dogs

Bright Machines Going Public in $1.6 Billion SPAC Merger

WSJ Markets - 15hr

The creator of a platform that uses artificial intelligence and robotics to automate tasks in manufacturing is combining with the SPAC SCVX.

Understanding Your Tax Return: An Illustrated Guide to Common Terms on Tax Day

WSJ USBusiness - 15hr

Many Americans are confused by exactly which sources of income are subject to taxes, and how much. This visual guide can help demystify a few of the most essential tax concepts for filers.

Harley-Davidson stock surges toward 3rd straight gain, after E.U. decision not to raise tariffs

MarketWatch - 15hr

Shares of Harley-Davidson Inc. jumped 3.9% in morning trading, and have run up nearly 10% amid a three-day win streak, as the motorcycle maker was set to benefit from the European Union's decision to postpone plans raise tariffs on some U.S. goods, including motorcycles. "We are encouraged by today's announcement that tariffs affecting our products will not escalate from 31% to 56%," said Chief Executive Jochen Zeitz. "Harley-Davidson employees, dealers, stakeholders and motorcycles have no place in this trade war. These tariffs provide other motorcycle manufacturers with an unfair competitive advantage in the E.U. European motorcycles only pay up to 2.4% to be imported into the U.S." The stock, which is up 9.9% the past three days, is now within sight of its three-year closing high of $49.92 on April 28. It has soared 35.0% year to date, while the S&P 500 has advanced 10.8%.

Goldman Taps Uber Executive to Run Its Consumer Bank

WSJ Markets - 16hr

Peeyush Nahar succeeds Omer Ismail, who left Goldman to run Walmart’s new fintech startup.

U.S. stocks open modestly lower after worst week in 3 months

MarketWatch - 16hr

Stocks opened modestly lower Monday, under renewed pressure after major benchmarks saw their biggest weekly declines since February --- a selloff blamed on worries over rising inflation pressures. The Dow Jones Industrial Average was down 9 points, or less than 0.1%, at 34,373, while the S&P 500 fell 0.3% to 4,162.33. The Nasdaq Composite shed 0.7% to trade at 13,328.45. Shares of Discovery Inc. rose more than 10%, while AT&T Inc. shares rose 4.7% after the companies announced a $43 billion deal to combine WarnerMedia with Discovery.

Murphy USA to hire 3,000 employees, will include $500 bonus and Premium Pay at some locations

MarketWatch - 16hr

Murphy USA Inc. said Monday that it is looking to hire 3,000 employees for its gas station and convenience store network. The company, which operates 1,650 stores, across the Southwest, Southeast, Midwest and Northeast U.S., said new hires in select at select locations will receive a $500 summer bonus if hired by May 31, to be paid out if they remain employed through Sept. 10. In addition, new hires at select locations will be offered "Premium Pay" of an extra $2 an hour through Sept. 10. The stock, which was still inactive in premarket trading, has rallied 13.3% over the past three months while the S&P 500 has gained 6.2%.

EU Suspends Plans to Raise Tariffs on U.S. Whiskey, Other Goods

WSJ World - 16hr

In a joint statement, the U.S. and EU said they would begin formal discussions to address problems plaguing the global steel and aluminum industry.

EU Suspends Plans to Raise Tariffs on U.S. Whiskey, Other Goods

WSJ USBusiness - 16hr

In a joint statement, the U.S. and EU said they would begin formal discussions to address problems plaguing the global steel and aluminum industry.

Nuvve stock soars after plansto form JV to deploy EV charging networks, provide 'TaaS' for school buses

MarketWatch - 17hr

Shares of Nuvve Holding Corp. shot up 13.9% in premarket trading Monday, after the commercial vehicle-to-grid technology company and Stonepeak Partners LP announced plans to form a new joint venture called Levo Mobility LLC to deploy electric vehicle charging for school buses and other commercial EV fleets. The JV will also provide transportation as a service (TaaS). Stonepeak, along with its portfolio company Evolve Transition Infrastructure LP will provide a $750 million capital commitment to Levo Mobility, which will use the money to focus initially on electrifying school buses and providing associated charging infrastructure. "Through our relationship [with Stonepeak], we plan to remove barriers that currently exist for school districts and other fleet operators to convert to electric vehicles," said Nuvve Chief Executive Gregory Poilasne. Nuvve's stock has plunged 52.1% over the past three months through Friday, while the S&P 500 has gained 6.2%. Earlier Monday, Lion Electric Co. announced an order for 260 all-electric school buses from First Student.

CDC: 3 million teens between ages of 12 and 17 have received at least one COVID-19 shot

MarketWatch - 17hr

More than 3 million teens between the ages of 12 and 17 years old have gotten at least one COVID-19 shot, as of Monday, according to the Centers for Disease Control and Prevention. The public health agency does not break out more specific age categories on its COVID Data Tracker page; however, it says that about 157 million people over the age of 12 have received one dose of a vaccine, and about 154 million of those shots went to people who are at least 18 years old. Federal regulators last week authorized the BioNTech SE and Pfizer Inc. two-dose, mRNA vaccine for use in teens between the ages of 12 and 15 years old, making it the first vaccine available in the U.S. to this group of younger teens. (The shot had previously been authorized for anyone who was at least 16 years old.)

Discovery, AT&T, Tesla, Palantir: What to Watch When the Stock Market Opens Today

WSJ Markets - 17hr

Futures pointed to technology shares leading losses.

Toy Retailer Rolls Out Online Shopping for Kids as Young as 3

WSJ USBusiness - 17hr

New York-based toy retailer Camp NYC is adding an e-commerce feature to its website that lets kids as young as 3 years old shop for gifts and check out with minimal adult oversight.

AMC stock rallies toward 7th straight gain

MarketWatch - 17hr

Shares of AMC Entertainment Holdings Inc. rallied 3.3% in premarket trading, putting them on track to stretch their winning streak to seven sessions. That would be the longest win streak for the movie theater operator's stock since the seven-day stretch ending July 17. The stock had run up 44.2% over the past six sessions, which was the longest win streak since the six-day streak ended July 31. The so-called "meme" stock has received a boost amid renewed interest by retail investors, as MarketWatch's Thornton McEnery reported. Meanwhile, fellow "meme" stock GameStop Corp. fell 0.1% ahead of Monday's open. During AMC's latest win streak, GameStop's stock has slipped 0.7% and the S&P 500 has given up 0.7%.

Apollo Hires Craig Farr to Head Capital-Markets Business

WSJ Markets - 17hr

Craig Farr is a veteran of Carlyle, KKR and Citigroup, and his hiring signifies the firm’s push to expand the array of companies whose businesses it finances.

Redbox to go public after merger with SPAC Seaport Global, valuing company at $693 million

MarketWatch - 17hr

Redbox announced Monday plans to go public through a merger with special purpose acquisition company (SPAC) in a deal valuing the new-release movies and home entertainment company at $693 million. Redbox is owned by Apollo Global Management Inc., which acquired Redbox through its purchase of Outerwall in September 2016. After the deal closes, which is expected to occur in the third quarter of 2021, Redbox expects to have about $209 million in cash, which it expects to use to pay down debt, fund digital expansion, content acquisition and for marketing. B. Riley is capital markets advisor to Seaport Global and BTIG is lead financial advisor to Redbox. Seaport Global's stock, which went public in December, and is currently halted for news until 8:30 a.m. Eastern, has lost 4.0% over the past three months, while the Renaissance IPO ETF has dropped 23.4% and the S&P 500 has gained 6.2%.

Curaleaf to acquire Los Sueños Farms for $67 million in stock and cash

MarketWatch - 17hr

Curaleaf Holdings Inc. said Monday it has reached a deal to acquire Los Sueños Farms, the biggest outdoor cannabis grow in Colorado, for $67 million in cash, stock and assumed debt. The company will pay $49 million for the Los Sueños operating companies and $18 million for the real estate and farm assets. The price will be paid 61% in Curaleaf subordinate voting shares, 29% in cash at closing and 10% in assumed debt maturing in five years. An additional consideration of $8 million in stock will be paid based on operating cash flow-based targets for 2022. "This will significantly expand Curaleaf's Colorado presence, vertically integrating in the state with large-scale outdoor cannabis cultivation," said Curaleaf, which is based in Wakefield, Massachusetts. The deal involves three outdoor grow facilities covering 66 acres of cultivation capacity, an 1,800 plant indoor grow and two retail cannabis dispensary locations offering adult-use recreational cannabis. Curaleaf shares were slightly higher premarket and have gained 20% in the year to date, while the AdvisorShares Pure US Cannabis ETF has gained 11%, matching the S&P 500's gain.

Sanofi-GSK Covid-19 Vaccine Set for Large-Scale Trials After Positive Results

WSJ USBusiness - 18hr

France’s Sanofi and U.K.-based GlaxoSmithKline said their vaccine candidate showed positive interim trial results and is expected to move into large-scale human trials soon, putting the long-delayed shot on track for potential regulatory approval later this year.

Will Demographics Tank China's Housing Market?

WSJ Markets - 18hr

China’s northeastern regions have depopulated more quickly than previously believed. But major cities in the industrial rust belt have still recorded rising house prices.

Kraton to raise prices on CTO refinery products by 20%

MarketWatch - 18hr

Kraton Corp. said Monday it will raise prices by 20% across all of its crude tall oil (CTO) refinery products and derivatives, effective June 1, amid rising raw materials costs. CTO is a byproduct of pine wood pulping and then refined into tall oil fatty acid (TOFA), tall oil resin (TOR), distilled tall oil (DTO) and pitch, which can then be upgraded into biobased chemicals. The products are used in many applications, including fuel additives, detergents, soaps, adhesives, oilfield chemicals and metalworking fluids. In Kraton's first-quarter results announced on April 29, Chief Executive Kevin Fogarty had said he expected "further realization of announced price increases will alleviate margin pressure associated with raw material price inflation experienced during the first quarter of the year." Kraton's stock, which was still inactive in premarket trading, has lost 5.5% over the past three months while the S&P 500 has gained 6.2%.

Pizza Hut adds Beyond Meat to the menu in Canada

MarketWatch - 18hr

Pizza Hut and Beyond Meat Inc. said Monday that the plant-based meat alternative will be coming to Pizza Hut menus in Edmonton and the Greater Toronto Area (GTA). Restaurants in these regions will offer a limited-time three-item menu, each topped with Beyond Italian Sausage Crumble: a veggie pizza called The Great Beyond; Beyond Creamy Alfredo, a pasta dish; and an alfredo topped flatbread. Beyond Italian Sausage Crumble will also be available to add to any item on the Pizza Hut menu. Pizza Hut is part of the Yum Brands Inc. portfolio. Yum Brands shares are up nearly 10% for the year to date. Beyond Meat stock is down 16% for the period. And the S&P 500 index has gained 11.1% for the period.

United Airlines to boost July flight schedule, to reach 80% of pre-pandemic levels

MarketWatch - 18hr

United Airlines Holdings Inc. said Monday that it is adding more than 400 daily flights to its July schedule and will increase its service to destinations in Europe, as booking for summer travel had more than tripled (up 214%) compared with 2020 levels. The air carrier said its July schedule in the U.S. will reach 80% of July 2019 levels, making it the largest monthly schedule since before the COVID-19 pandemic. "This July we're taking a big step toward flying at pre-pandemic levels for our domestic network," said Ankit Gupta, vice president of domestic network planning and scheduling. "By adjusting our bank structures at two key hub airports, we're able to offer our customers easy connections to destinations across the U.S. so they can start their vacations at times convenient for them." United's stock, which slipped 0.4% in premarket trading Monday, has run up 20.0% over the past three months through Friday, while the U.S. Global Jets ETF has gained 7.9% and the S&P 500 has tacked on 6.2%.

Monthly Child Tax Credit Payments Set to Start July 15

WSJ USBusiness - 19hr

Tens of millions of households will receive up to $250 a month per child between age 6 and 17 and up to $300 per child under age 6, based on their ages at the end of 2021.

Apple Set to Call Tim Cook to Witness Stand to Fight Monopoly Claims

WSJ USBusiness - 20hr

The iPhone maker’s chief executive is set to argue the company’s case against Epic Games’ antitrust claims.

Amazon Makes Push to Reduce Worker Injuries

WSJ USBusiness - 20hr

The online retailer is rolling out safety videos, on-the-job stretching exercises and staff meditation zones.

Companies Weigh Price Increases, Other Options as Costs Rise

WSJ USBusiness - 20hr

Finance chiefs across industries are facing a classic problem that comes with economic growth: rising costs of raw materials, energy and transportation.

From Bitcoin to Dogecoin: What's Driving Cryptocurrencies' Rise

WSJ Markets - 20hr

Cryptocurrencies such as bitcoin, ether and dogecoin have surged to highs that few investors would have predicted a year ago. The furious run has even the most optimistic traders asking: Can it last?

Indonesia's Top Tech Startups Gojek and Tokopedia to Merge

WSJ Markets - 21hr

The combined company, to be known as GoTo Group, plans to go public this year. The group is targeting a market valuation of between $35 billion and $40 billion and listings on exchanges in New York and Jakarta.

J.Crew Is Naming Designer to Disrupt Brand

WSJ USBusiness - 1d

Brendon Babenzien, the veteran streetwear pioneer, is being hired to push the limits of the preppy retailer’s designs.

Inequality Would Widen if U.S. Policies Spur Sustained Inflation

WSJ USBusiness - 1d

In recent months, inflationary pressures have caused the cost of living to rise faster than paychecks, meaning a paycheck hasn’t been going as far as it did before.