Shares of major financial institutions and alternative asset managers retreated Friday as concerns mounted over the stability of the private credit market and the sustainability of high-interest deal-making. The sell-off, led by industry heavyweights Blue Owl and Blackstone, comes amid reports of funding hurdles for massive infrastructure projects and a broader tightening of deal economics driven by the Federal Reserve's restrictive monetary policy.
Teradata has reached a $480 million settlement with SAP, concluding a high-stakes legal battle that began in 2018 over allegations of trade secret theft and anticompetitive behavior. The agreement ends years of litigation between the two enterprise software rivals and provides a significant capital injection for Teradata.
Technology shares retreated as investors weighed the disruptive potential of generative artificial intelligence, with IBM leading the decline following a breakthrough announcement from AI startup Anthropic. The market reaction underscores growing anxiety over how legacy tech giants will navigate a landscape where automated tools can now handle complex coding tasks once central to their business models.
The communications services sector dipped on Thursday as investors weighed a narrowing loss at AMC Entertainment against escalating political and regulatory hurdles for Netflix.
Thor Industries is reorganizing its North American recreational vehicle business, consolidating the majority of its brands into two distinct operating groups. The manufacturer announced the move on Monday, signaling a shift toward centralized management as it navigates rapid dealer consolidation and evolving consumer demand in a post-pandemic market.
Power producers gained ground on Monday as investors pivoted toward defensive sectors, reacting to a combination of severe winter weather and a major Supreme Court ruling on trade tariffs.
Coveo, the AI-powered search and personalization platform, has officially named Karine Hamel as its permanent Chief Financial Officer, concluding a leadership transition that began late last year.
Keurig Dr Pepper has expanded its funding deal with private equity giants to $4.5 billion, paving the way for a clean separation of its beverage and coffee segments into two independent public entities. The additional capital, provided by KKR, Apollo Global Management, and T. Rowe Price, cancels previous plans for a partial initial public offering of the beverage business.
Calian Group has named Will Majic as its acting chief financial officer, filling the vacancy left by Patrick Houston’s recent elevation to the top executive post. The appointment, effective immediately, places a long-time internal veteran at the helm of the company's financial operations as it continues to execute its long-term growth strategy.
Vir Biotechnology and Astellas Pharma have entered a licensing agreement to co-develop VIR-5500, an experimental prostate cancer treatment currently in early-stage trials. The deal provides Vir with $335 million in upfront and near-term capital, signaling a major push into the competitive field of T-cell engager therapies.
Tectonic Therapeutic has appointed François Nader as chair and independent director of its board, effective April 1, as the clinical-stage biotech firm prepares for its next phase of growth.
AeroVironment announced Monday that Chief Financial Officer Kevin McDonnell will retire on July 31, concluding a six-year tenure at the defense technology firm. The company has initiated a search for a successor, with McDonnell committed to overseeing a smooth transition of the finance department.
Westlake Corp. announced Monday that longtime Chief Financial Officer Steven Bender will retire after nearly 20 years at the petrochemicals manufacturer. Bender, who has served as finance chief since 2007, will remain in his position until a successor is appointed to ensure a stable leadership transition.
The right-wing One Nation party has overtaken major political forces in New South Wales, securing 30% support in the latest Roy Morgan poll just one year ahead of the state election. With the governing Labor Party trailing at 25% and the Liberal-National coalition at 19%, the results signal a profound shift in Australia's most populous state following a period of heightened national tension.
Vir Biotechnology shares skyrocketed on Monday following a $335 million licensing agreement, while Diamondback Energy and Whirlpool faced after-hours declines amid falling oil prices and debt restructuring efforts.
MacroGenics has paused enrollment in its Phase 2 study of lorigerlimab after the U.S. Food and Drug Administration (FDA) placed a clinical hold on the trial due to severe safety concerns. The Rockville, Maryland-based biopharmaceutical company halted the study, which targets gynecological cancers, after reporting serious adverse events in four participants.
Better Home & Finance Holding Company has entered a strategic partnership with Framework Ventures to integrate its mortgage lending operations into the Sky decentralized finance ecosystem. The deal aims to deploy $500 million in credit, marking a significant bridge between traditional home equity markets and blockchain-based capital.
Haemonetics has received FDA 510(k) clearance for its NexSys PCS system featuring Persona PLUS technology, a software-driven upgrade designed to maximize donation volumes and improve efficiency for plasma collectors.
Diamondback Energy reported a significant fourth-quarter loss on Monday, driven by a multibillion-dollar write-down of asset values as crude prices retreated. The Midland, Texas-based producer swung to a net loss of $1.46 billion, or $5.11 per share, a sharp reversal from the $1.07 billion profit recorded during the same period last year.
Diamondback Energy reported a $1.46 billion net loss for the fourth quarter, missing analyst earnings estimates as the Texas-based producer navigates a "yellow light" macroeconomic environment defined by global oversupply.
Kratos Defense & Security Solutions reported fourth-quarter results on Monday that exceeded Wall Street expectations, fueled by a 22% revenue surge in its government solutions division. The contractor posted adjusted earnings of 18 cents per share on revenue of $345.1 million, outperforming analyst forecasts despite looming headwinds from federal budget delays.
Utility providers across New York and New Jersey are making headway in restoring electricity to thousands of households after a severe winter storm battered the Northeast with blizzard conditions and high winds.
GSK has renewed its strategic manufacturing partnership with Bora Pharmaceuticals for an additional five years, solidifying a supply chain that spans North America. The agreement extends a relationship established in 2020, ensuring the continued production of over 20 commercial products while granting the British drugmaker access to Bora’s expanding facility network.
Home Depot is expected to report a decline in fourth-quarter revenue and earnings on Tuesday, as high mortgage rates and economic uncertainty continue to stifle the home-improvement sector. Analysts surveyed by FactSet project a contraction in both top- and bottom-line figures, marking a cautious end to the fiscal year for the retail giant.
Bayer has filed a lawsuit against Johnson & Johnson and its Janssen Biotech unit, alleging the pharmaceutical giant used deceptive marketing to promote its prostate cancer treatment, Erleada. The legal challenge disputes J&J's claims that its drug is superior to Bayer’s competing therapy, Nubeqa, marking a significant escalation in the competition for dominance in the oncology sector.
Amazon is pouring $12 billion into northwest Louisiana to develop a massive network of data-center campuses, a move designed to bolster its artificial intelligence and cloud computing infrastructure. The investment, announced Monday, marks a significant expansion for the tech giant in the South, aiming to drive regional economic growth through infrastructure upgrades and job creation.
Wheat prices on the Chicago Board of Trade dropped on Monday as favorable weather forecasts for the U.S. and Russia mitigated supply fears, while corn futures found modest support from a surge in export inspections and shifting fund positions.
Bayer has filed a lawsuit against Johnson & Johnson and its Janssen Biotech unit, alleging that marketing claims for the prostate-cancer drug Erleada are based on "scientifically flawed" data. The litigation contests J&J’s recent assertions that its treatment is significantly more effective than Bayer’s rival drug, Nubeqa.
A powerful winter storm packing heavy snow and high winds knocked out electricity for more than 289,000 utility customers across Massachusetts on Monday, with coastal regions bearing the brunt of the damage.
Loblaw Cos. is accelerating its shift toward value-based retail, announcing a C$2.4 billion investment to open 31 new discount grocery stores and renovate hundreds of existing locations across Canada. The expansion targets a consumer base increasingly strained by food prices that have surged more than 30% since 2019, according to industry data.
