The home builder sector was knocked broadly lower morning trade Monday, after data showing that existing-home sales for March fell more than expected. The iShares U.S. Home Construction ETF dropped 1.1%, with 40 of 47 components trading lower, to pull back from Thursday’s 8-month closing high. Among the most-active home builder shares, D.R. Horton Inc.
Sirius XM Holdings Inc. announced Monday a new “Essential” streaming-only subscription plan, aimed at those who want to listen to its radio service without a car. The cost of the subscription plan, which includes more than 300 channels, will start at $1 a month for the first three months, then increase to $8 a month.
Shares of energy companies were broadly higher Monday, as crude oil prices jumped toward a 5 1/2-month high on supply concerns after reports that the U.S. will announce the end of waivers for countries to import Iranian oil. Also giving the sector a boost was better-than-expected first-quarter results from oil services company Halliburton Co. before
The Supreme Court on Monday said it will hear cases on sexual orientation and transgender discrimination in the workplace. The Supreme Court said it’s combining two cases, Gerald Bostock v Clayton County, Ga., and Altitude Express vs. Melissa Zarda, and will limit R.G. & G.R. Harris Funerals v. the EECO to whether Title VII prohibits
U.S. stocks fell Monday morning ahead of a big week for corporate quarterly results from internet-related stocks, and as oil prices shot higher as the U.S. said it would end waivers for countries importing Iranian crude. The Dow Jones Industrial Average fell 87 points, or 0.3%, at 26,468, the S&P 500 index declined 0.3% at
Scientific Games Corp. subsidiary SciPlay Corp. has set terms of its initial public offering, in which the publisher of digital games on mobile platforms expects to raise up to $352 million. The company said it is offering 22 million class A shares to the public, with the IPO expected to price between $14 and $16.
Kraft Heinz Co. said Chief Executive Bernardo Hees will step down effective June 30, after six years with the company. Kraft Heinz’s stock rallied 2.1% in premarket trade. The food and beverage giant, which brands include Jell-O, Oscar Mayer, Heinz and Planters, named Miguel Patricio as its new CEO, effective July 1. Patricio was previously
Trevi Therapeutics set terms for its planned initial public offering on Monday, saying it plans to offer 4.7 million shares priced at $14 to $16 each to raise up to $75.2 million. The biotech, which is focused on developing treatments for neurologically mediated conditions including Parkinson’s disease, is planning to list on Nasdaq under the
Canopy Growth Corp. was upgraded to buy from hold on Monday by analyst Martin Landry at GMP, after the company last week bought the rights to acquire U.S. multi-state operator Acreage Holdings Inc. as soon as cannabis is legalized in the U.S. “This transaction should boost Acreage’s ability to consolidate the US market,” Landry wrote
Shares of Rent-A-Center Inc. shot up 4.8% in premarket trade Monday, after the rent-to-own company said it will receive $92.5 million in cash after settling all litigation with Vintage Capital Management LLC and B. Riley Financial Inc. related to the company’s termination of its merger deal with Vintage. The company expects proceeds of $80 million