Articles

Vanda Pharmaceuticals shares jump 30% after FDA approval of Fanapt for bipolar I disorder

The biopharmaceutical company said Tuesday the latest marketing approval increases the commercial opportunity of the treatment.

Auto sales dip in March due to high prices and high borrowing rates

Sales of new cars and trucks in the U.S. fell 2% in March to leave auto purchases well below 2023 year-end levels, indicating that high interest rates and prices have crimped demand.

Tesla’s delivery woes suggest the EV maker has an Elon Musk problem

Tesla Inc.’s “significant miss” on its first-quarter delivery numbers rattled Wall Street on Tuesday — and the disappointing numbers indicate that at least one of the electric-vehicle maker’s problems is Chief Executive Elon Musk.

GM’s quarterly sales drop 1.5%, inventory at its highest since 2020

At GM, EVs “acted as a drag on overall volumes,” declining by 20.5% year-on-year, CFRA analyst Garrett Nelson said in a note Tuesday.

Dave & Buster’s fourth-quarter profit falls as sales continue to slide

Dave & Buster’s Entertainment posted a lower profit in the fiscal fourth quarter as the company’s comparable sales continued to slide.

Intel foundry losses expected to peak this year after hitting $7 billion in 2023

Intel broke out its product and foundry financials, showing investors their different margin profiles.

Cal-Maine sells more eggs than ever, and the stock rallies

Demand for eggs remains strong as people look for an ‘affordable and nutritious protein option,’ Cal-Maine says.

This is how the Port of Baltimore will bounce back after bridge collapse

The Port of Baltimore has enough “natural advantages” to help it recover after the collapse of the Francis Scott Key Bridge, according to former White House port envoy and Maryland transportation secretary John D. Porcari.

Banker sees healthy M&A, IPO deal pipeline as private-equity firms look to deploy cash

Citizens Financial’s Don McCree says optimism has returned to the market as interest rates have stabilized.

U.S. oil benchmark tops $85 a barrel, hits highest level since October as Middle East tensions escalate

The benchmark U.S. oil contract ended above $85 a barrel for the first time since October on fears of escalating geopolitical tensions.

Wells Fargo, JPMorgan named top picks by Goldman Sachs for potential first-quarter upside surprise

Analysts see Wells Fargo and JPMorgan Chase potentially outshining Morgan Stanley, Citi, PNC, U.S. Bancorp and Bank of America.

April tax deadline could force some U.S. banks to turn to the Fed for relief

One Wall Street strategist is raising concerns that U.S. banks may be unprepared for the massive drain on their reserves that typically occurs in April as millions of Americans settle their tax bills.
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