Moderna shares surged in premarket trading Wednesday after the U.S. Food and Drug Administration accepted a revised application for the company’s experimental flu vaccine. The biotech firm aims to launch the shot for the 2026/27 flu season, targeting adults aged 50 and older following a successful appeal of a previous regulatory rejection.
AutoCanada Ltd. has officially named Samuel Cochrane as its permanent chief executive officer, ending a brief transition period that began late last year. Cochrane, who stepped into the interim role in November 2024, will lead the automotive dealership group as it seeks to stabilize its core operations and improve financial discipline across its North American network.
SM Energy has entered a definitive agreement to divest its South Texas assets to Caturus Energy for $950 million, a move aimed at strengthening its balance sheet through strategic debt reduction.
EFG International shares tumbled nearly 10% on Wednesday after the Swiss private bank’s 2025 net profit missed analyst expectations due to a surprise 59.5 million franc legal provision. Despite reporting record revenue, the Zurich-based lender struggled to reassure investors as the financial fallout from a long-running dispute with Kuwait’s public pension fund weighed on its capital ratios.
Fresh Del Monte Produce Inc. reported a significant jump in fourth-quarter profit, as higher banana prices and expanded logistics services helped the company overcome a decline in its fresh-cut vegetable business. The produce giant saw net income climb to $31.9 million, up from $20.4 million a year earlier, despite only a modest increase in overall revenue.
Power Corp. of Canada has appointed James O’Sullivan as its new chief executive, succeeding R. Jeffrey Orr, who will transition to the role of vice chair. The leadership change, announced Wednesday, concludes Orr’s six-year tenure at the helm of the Montreal-based financial services giant and signals a strategic focus on internal continuity.
Cinemark Holdings reported a sharp decline in fourth-quarter profit, missing Wall Street expectations as a weak lineup of holiday film releases failed to match the previous year’s box office momentum. The theater chain’s net income fell to $34.1 million, or 16 cents a share, significantly trailing the 26 cents per share anticipated by analysts.
Shares of Rush Street Interactive jumped 21% in premarket trading Wednesday after the online gaming operator reported a 28% revenue surge and issued a bullish financial outlook for the coming year. Despite a slight miss on adjusted earnings, the company’s expanding user base across North America signaled strong momentum for its digital casino and sportsbook platforms.
Rio Tinto is set to report its full-year financial results this Thursday, with analysts projecting a rise in underlying earnings to $11.02 billion fueled by a resilient copper market. As the world’s second-largest miner pivots from a collapsed merger with Glencore, the focus shifts to CEO Simon Trott’s restructuring agenda, which includes a multi-billion-dollar divestment strategy and a projected boost to shareholder dividends.
Shares of IMCD plummeted 14% in early European trading after the specialty chemicals distributor reported a decline in fourth-quarter revenue and slashed its dividend, signaling a sharp slowdown in global industrial demand.
Mistral AI has reached a deal to acquire the cloud-computing startup Koyeb, marking the French AI champion's first acquisition as it seeks to streamline how developers deploy and scale artificial intelligence models.
Nestle is scheduled to report its 2025 financial results this Thursday, with investors bracing for a slight decline in annual sales and profit as the company navigates a sensitive infant formula recall and shifting organic growth dynamics.
French energy major TotalEnergies SE has repurchased nearly 600,000 of its own shares over a two-day period in mid-February, part of a strategic capital return program authorized by its shareholders. The transactions, valued at approximately €38 million, were executed on the Euronext Paris exchange as the company continues to optimize its balance sheet.
Mediobanca shares jumped on Wednesday following an announcement from Banca Monte dei Paschi di Siena (MPS) that it will delist the storied investment bank from the Milan stock exchange. The decision, finalized during a Tuesday board meeting, signals the final integration phase of a $19 billion takeover aimed at creating Italy’s third-largest financial institution.
Major global indices trended upward in early trading as U.S. equity futures and European benchmarks posted modest gains, buoyed by positive momentum in Asia and a busy session for individual corporate movers.
Japanese Trade Minister Ryosei Akazawa announced on Wednesday a $36 billion investment package for U.S. infrastructure and manufacturing, marking the first phase of a broader strategic partnership. The initiative targets critical sectors including power generation, oil exports, and synthetic diamond production to bolster economic security and reduce supply chain dependence on China.
Google-owned YouTube has resolved a widespread technical failure that paralyzed the platform's discovery features for hundreds of thousands of users. The disruption, rooted in the site's recommendation engine, rendered homepages blank and prevented videos from surfacing on the app and desktop site alike.
YouTube is working to fully restore services after a technical glitch in its recommendation system prevented videos from appearing on its homepage and mobile app.
Hormel Foods on Tuesday issued preliminary first-quarter results that anticipate higher earnings per share and steady sales growth, beating analyst profit estimates. The company simultaneously announced a deal to divest its whole-bird turkey operations as it focuses on returning to long-term profitable growth.
Vancouver-based forest products giant Canfor announced it will book a C$321 million ($235.3 million) non-cash impairment charge in the fourth quarter, citing mounting log supply pressures in Europe and a downturn in global pulp prices.
Japan’s outbound shipments accelerated for a fifth consecutive month in January, growing 16.8% year-over-year as robust demand from China and neighboring markets offset a continued slump in trade with the United States.
The Timken Co., a leading industrial manufacturer, announced Tuesday that its board has approved a new share buyback program for 10 million common shares. Effective March 1, the move establishes a long-term framework for capital allocation as the company’s existing repurchase plan reaches its expiration.
Shares of Tactile Systems Technology jumped 22% in late trading Tuesday after the medical device maker reported fourth-quarter earnings and revenue that surpassed Wall Street expectations. The Minneapolis-based company attributed the growth to robust demand across its core product lines and issued a full-year revenue forecast that outpaced analyst projections.
Technology shares trended lower as investors weighed the risks of artificial intelligence disruption against the massive capital requirements of new infrastructure. The market shift comes as Oracle faces a significant valuation correction and India’s Adani Group pledges a landmark $100 billion toward data center development.
Shares of Palo Alto Networks and La-Z-Boy retreated in after-hours trading Tuesday following disappointing guidance, while Caesars Entertainment gained ground after reporting resilient revenue growth.
The communications services sector dipped during a broader market retreat from risk-sensitive assets, even as high-stakes dealmaking intensified across the media and infrastructure landscapes. While Paramount and Warner Bros. Discovery signaled a return to the negotiating table, South Africa’s MTN Group finalized a multi-billion dollar acquisition to bolster its network footprint.
Steel Dynamics and Australian conglomerate SGH have increased their joint takeover offer for BlueScope Steel to approximately US$11 billion, signaling a final attempt to consolidate major steel assets across the Pacific. The revised cash proposal follows months of rejected overtures and comes as aggressive U.S. trade protections bolster the value of domestic manufacturing.
La-Z-Boy shares tumbled in after-hours trading Tuesday after the furniture maker issued a fourth-quarter revenue forecast that trailed Wall Street estimates, citing a combination of severe winter weather and cautious consumer spending. While the company exceeded revenue expectations for its fiscal third quarter, management warned that late-January storms significantly disrupted showroom traffic, clouding the immediate outlook.
Portland General Electric has reached an agreement to acquire Berkshire Hathaway’s PacifiCorp assets in Washington state for approximately $1.9 billion, a strategic move that significantly expands its regional footprint. The deal consolidates a vast network of generation and distribution infrastructure serving over 140,000 customers.
EIR Biopharma, an early-stage biotechnology firm specializing in ophthalmology, filed for an initial public offering on Tuesday to advance its lead therapeutic candidate. The company plans to sell 3.75 million shares of common stock at a price range of $4 to $5 per share, according to a filing with the Securities and Exchange Commission.
