Author: Press Room
BioNTech: Financial Health And Market Sentiment Amidst Transition Since my December update on the company’s potential in oncology, BioNTech (NASDAQ:BNTX) is down another 17%. Due to COVID comparisons, revenue and profit had been on the decline at that time, but I reiterated BioNTech’s long-term growth potential. This Wednesday, its stock is trading lower after reporting Q4 earnings, even touching 52-week lows in intraday trading. The article below takes a look at any important changes. Based on a currency rate of 1 Euro = 1.09 USD, total revenues for the quarter ending December 31 were $1,612.11 million, compared to $4,663.35 million…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.US Federal Reserve officials indicated on Wednesday that they still expected to cut interest rates by 75 basis points this year, a sign of confidence that inflation is cooling sufficiently to reduce borrowing costs. The rate forecasts, published by the US central bank, came as the Federal Open Market Committee voted unanimously to leave rates unchanged at a 23-year high of 5.25 per cent to 5.5 per cent.The latest statement from the Fed means that borrowing costs that were driven higher in…
House Speaker Mike Johnson is considering inviting Prime Minister Benjamin Netanyahu to address Congress after House members raised the idea in their closed-door conference meeting Wednesday morning. “It’s one of the things that we have in mind, and we may try to arrange for that,” Johnson told reporters when asked about inviting Netanyahu to address Congress. “I think it’s very important for us to show solidarity and support for Israel right now in their time of great struggle, and we certainly stand for that position, and we’ll try to advance that in every way that we can.” Johnson said he…
By Scott DiSavino NEW YORK (Reuters) – Oil prices edged up about 1% on Wednesday on a smaller-than-expected build in inventories, a big withdrawal from distillate and gasoline stocks and remarks by the U.S. Federal Reserve chief that he still expects interest rate cuts this year. Lower interest rates could increase oil demand by boosting economic growth. () futures rose 92 cents, or 1.1%, to settle at $82.96 a barrel, while U.S. crude rose 98 cents, or 1.3%, to settle at $79.13. That put Brent up for the first time in five days. The U.S. Energy Information Administration (EIA) said…
By Josh Ye HONG KONG (Reuters) – The U.S. House of Representatives overwhelmingly passed a bill this week that would give TikTok’s Chinese owner ByteDance about six months to divest the U.S. assets of the short video app, or face a ban, in the greatest threat to the app since the Trump administration. Below is what we know about the Chinese company, which was valued at $268 billion in December. WHO IS BYTEDANCE? Nicknamed “App Factory” due to its frequent releases of mobile applications, ByteDance was founded by software engineer Zhang Yiming in 2012 in Beijing. It is often seen…
The strong economic recovery since the pandemic started has been good for almost everyone. Nonfinancial corporations are no exception. They have been raking in high profits and using those mainly to pay dividends to their shareholders and building up their stockpiles of cash. Investments in new buildings, computers, car parks and other equipment are at reasonable levels, but not an exceptional priority for corporations. The latest Federal Reserve data on the country’s finances show that nonfinancial corporations have been very profitable over the past few years. Their inflation adjusted profits increased by an average annualized rate of 12.1% from December…
Check out the companies making headlines in midday trading. Signet Jewelers — Shares tumbled 11% after the jeweler issued first-quarter revenue guidance that missed Wall Street estimates. The company said it expects revenue in the range of between $1.47 billion and $1.53 billion, whereas analysts polled by FactSet forecast $1.61 billion. Chipotle — Shares rose 6.4% to an all-time high after the fast-casual Mexican chain announced the board approved a 50-to-1 stock split . The plan, which was shared with the public on Tuesday, is expected to go into effect in June if approved by shareholders. Deutsche Bank also raised…
Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Wednesday’s key moments. U.S. stocks were flat Wednesday as Wall Street awaited the Federal Reserve’s latest policy decision. The Fed is widely expected to keep rates unchanged this time around, but investors will be looking for clues on where central bankers see policy going in the months ahead in their so-called “dot plots.” We’re expecting Fed Chair Jerome Powell to be more hawkish during his Wednesday afternoon press conference, given the recent firmness in inflation data and the…
Move over CrossFit, yoga and Peloton. Stretching sessions are the hot revival fitness fad. Studios like StretchLab, Stretch Zone, Lymbr and Stretch’d are popping up in strip malls and street corners, offering tight and achy people one-on-one stretching sessions with “flexologists” and “stretch therapists” for $100 or more per appointment. It’s not yoga, physical therapy or a massage — these sessions focus only on stretching. In a one-on-one session, an instructor will assist people with back, hamstring, shoulder and other stretches. High-end gym chains such as Life Time and budget options like Planet Fitness are also trying to capitalize on…
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