Vanda Pharmaceuticals has secured U.S. Food and Drug Administration (FDA) approval for Bysanti, a new treatment for schizophrenia and manic episodes associated with bipolar I disorder. The biopharmaceutical firm expects the therapy to be commercially available by the third quarter of 2024, marking a significant expansion of its psychiatric portfolio.
Shares of iPower and Savara gained ground on Monday as investors reacted to strategic supply chain shifts and a critical regulatory milestone from the Food and Drug Administration.
Skye Bioscience Chief Financial Officer Kaitlyn Arsenault resigned her position effective Feb. 20, triggering a leadership shuffle at the pharmaceutical developer. Following her departure, Chief Executive Punit Dhillon has assumed the role of principal accounting officer to maintain oversight of the company’s financial operations.
Steel Dynamics announced a 6% increase to its quarterly cash dividend on Friday, raising the payout to 53 cents per share from the previous 50 cents. The move signals continued confidence in the industrial metal producer’s cash flow and capital allocation strategy.
Hasbro has finalized a $1.1 billion senior unsecured revolving credit facility, extending its debt maturity and bolstering its long-term liquidity. The agreement, which amends the toy maker’s existing financing structure, pushes the facility's expiration date from 2028 to February 20, 2031.
Carnival Corporation is restructuring its global operations by transforming its U.K. business into a wholly-owned subsidiary of its U.S. entity, ending a dual-listed structure that previously saw the two arms trade separately.
Parex Resources, a significant shareholder in GeoPark Limited, has nominated six independent directors to the company's board following a failed acquisition attempt last year. The move, announced Friday, aims to force a comprehensive review of strategic options to enhance shareholder value.
Industrial and transportation stocks climbed as investors balanced a landmark Supreme Court ruling against the administration’s trade policy with fresh economic data. Despite a 6-3 ruling declaring global tariffs illegal, a White House pledge to pursue a revised tariff framework helped stabilize market sentiment across the sector.
Energy shares and oil futures retreated on Friday as the White House signaled a potential shift toward targeted military action in the Middle East. Despite the slight pullback, crude prices maintained their positions near six-month highs while investors gauged whether the U.S. buildup constitutes a genuine tactical threat or strategic brinksmanship.
Raw materials producers saw marginal gains as surging gold prices, driven by geopolitical instability and trade policy shifts, countered a series of disappointing corporate earnings and significant asset writedowns across the mining and chemical sectors.
Healthcare companies saw a decline in trading as investors rotated capital into cyclical sectors, moving away from the defensive positions that previously served as a hedge against market volatility.
Financial shares fluctuated in volatile trading as Wall Street grapples with a private credit squeeze, highlighted by Blue Owl Capital’s decision to liquidate $1.4 billion in assets to satisfy investor redemptions. The move follows growing concern that private lenders are over-exposed to software firms currently facing disruption from generative artificial intelligence.
Consumer goods companies saw a significant lift in trading after the Supreme Court struck down Trump-era tariffs as illegal, easing pressure on major importers like Amazon. The ruling coincides with new Federal Reserve data showing a 3% annual rise in core consumer prices, alongside strong earnings reports from European giants Danone and Moncler.
Technology shares climbed on Friday as investors rotated back into the sector following a volatile start to the year. The shift comes as industry heavyweights like Alphabet ramp up efforts to challenge Nvidia’s dominance in the high-stakes artificial intelligence hardware market.
Shares of U.S. power producers climbed further as the rapid expansion of data centers signals a structural shift in domestic electricity consumption, extending a period of significant gains for the sector.
The communications services sector climbed on Monday as investors pivoted back toward growth-oriented assets, buoyed by strong performance from entertainment giants and speculative interest in media consolidation.
Dallas Federal Reserve President Lorie Logan expressed cautious optimism regarding interest rates while highlighting a surge in business uncertainty following a Supreme Court decision to strike down executive-led global tariffs. Speaking at a conference in New York, Logan noted that the central bank is now weighing the potential inflationary impact of tariff refunds and their broader effect on financial conditions.
Cenovus Energy is preparing for a significant maintenance overhaul at its 185,000 barrel-per-day (b/d) refinery in Lima, Ohio, scheduled for the second half of the year, a move expected to temporarily tighten the company's U.S. refining output.
Ryerson shares surged 14% on Friday after the industrial metals processor closed its acquisition of Olympic Steel, a move management expects will generate $120 million in annual synergies. Chief Executive Eddie Lehner told analysts the merger represents a "quantum leap" for the company, providing the necessary scale to deleverage debt while capitalizing on a recovery in industrial demand.
Shares of Employers Holdings fell sharply late Friday after the Reno-based workers' compensation insurer reported a swing to a fourth-quarter loss and a significant decline in revenue, overshadowing an adjusted earnings beat.
Shares of Ategrity Specialty Insurance spiked on Friday after the company reported fourth-quarter earnings that significantly outpaced analyst expectations, driven by robust growth in premiums.
Candel Therapeutics saw its stock price slide 15% on Thursday after pricing an underwritten public offering aimed at raising $100 million. The clinical-stage biopharmaceutical firm is selling 18.3 million shares at $5.45 each to fund the commercialization of its lead drug candidate and ongoing clinical trials.
Rimini Street shares climbed 24% on Friday after the enterprise software support provider reported fourth-quarter revenue that exceeded Wall Street estimates. Despite a decline in net income and a conservative outlook for the coming quarter, investors focused on the company’s record-high backlog and its strategic pivot toward AI-driven services.
Shares of pop-culture collectible maker Funko jumped on Monday after activist investor Fund 1 Investments urged the company to explore a full sale, citing its own experience in taking public companies private.
Shares of Ardelyx plunged on Friday after the biopharmaceutical firm reported a narrow fourth-quarter loss, failing to meet Wall Street’s expectations for a return to profitability.
Abundia Global Impact Group shares tumbled 25% to $3.36 on Friday after the low-carbon energy company announced a registered direct offering to raise $20 million. The agreement with a new institutional investor involves the sale of 5.9 million shares, a move intended to bolster the firm’s balance sheet and fund new infrastructure.
Sprott Inc. shares climbed Friday after the investment manager reported a sharp rise in fourth-quarter earnings and revenue, driven by nearly doubling its assets under management over the past year.
Jakks Pacific shares rallied Friday after the toy manufacturer reported a significant reduction in quarterly losses, signaling a recovery following a year of tariff-induced volatility. Despite a slight dip in overall revenue, the company saw double-digit growth in its action-play and seasonal categories, helping shares climb 22% to $22.15 by Friday afternoon.
Five9 shares jumped 14% in Friday afternoon trading after the cloud software provider reported fourth-quarter results that surpassed Wall Street expectations on both the top and bottom lines. The performance provided a much-needed boost for the stock, which has faced significant pressure over the last year despite steady revenue growth.
Select Medical Holdings Corp. shares tumbled on Friday after the healthcare provider reported fourth-quarter earnings that trailed Wall Street estimates, overshadowing a return to profitability and a robust increase in quarterly revenue.
