SAN FRANCISCO—Tesla shares extended declines to hit their lowest level in more than two years on Wednesday, as investors including a “fanboy” of CEO Elon Musk lashed out at Musk’s distraction from the electric car company following his buy of Twitter. Shares of Tesla, the world’s most valuable carmaker, is one of the worst performing…
Amazon Makes History After Losing $1 Trillion in Market Value Amid Tech Stock Rout
November 10, 2022
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Amazon has become the first publicly traded company in history to lose $1 trillion in market valuation amid a volatile economy that has sparked a broad tech selloff. The Jeff Bezos-founded company, valued close to $1.88 trillion on July 2021, saw its shares fall 4.3 percent on Wednesday, pushing its market value down to $878 billion. Amazon stock…
Exxon Shares Surge to Record High on Strong Earnings Outlook
HOUSTON—Exxon Mobil Corp. shares passed their all-time high on Friday as oil prices resumed their climb and analysts raised their long-term views of top U.S. oil producer’s cash flow and earnings outlook. Exxon is leading a parade of record profits among oil majors this year after doubling down on oil during the pandemic, when energy…
Credit Suisse Shares Slip Despite Moves to Soothe Investor Concerns
October 3, 2022
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ZURICH—Credit Suisse shares slid by as much as 11.5 percent and its bonds hit record lows on Monday amid concerns about the bank’s ability to revamp its business and bolster its capital after a string of losses precipitated a strategy reboot. Chief Executive Ulrich Koerner last week told staff that Credit Suisse, whose market capitalization…
Buffett’s Company Buys Nearly 6 Million More Occidental Shares
OMAHA, Neb.—Warren Buffett’s company picked up another $368 million worth of Occidental Petroleum stock this week to give it control of nearly 21 percent of the oil producer. These are the first purchases Berkshire Hathaway has made since regulators gave it approval last month to buy up to 50 percent of Occidental, but since February…
Wall Street Opens Lower, Railroads Climb as Strike Averted
NEW YORK—Stocks are opening moderately lower on Wall Street, leaving major indexes well in the red for the week following the biggest pullback for the market in more than two years on Tuesday. Railroad operators were mostly higher after a tentative labor agreement was reached, averting a strike across the country that could have been…
World Shares Mostly Gain After Wall Street Hits 3-month Highs
August 11, 2022
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BANGKOK—World shares were mixed Thursday after Wall Street benchmarks closed at three-month highs as investors cheered a report showing inflation cooled more than expected in July. U.S. futures edged higher and oil prices also advanced. The U.S. government said Wednesday that consumer inflation jumped 8.5 percent in July from a year earlier. But that was…
Robinhood CEO Rejects Prospect of Deal as Shares Trade Higher on Earnings
The chief executive of Robinhood Markets Inc. on Wednesday dismissed the idea that the company might be acquired after it announced job cuts as it tries to reduce costs and reverse a decline in trading on its platform. Robinhood shares closed up nearly 12 percent on Wednesday, following a smaller-than-expected quarterly loss and the announcement…
World Shares Advance, Tracking Wall Street Week’s End Rally
August 1, 2022
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BANGKOK—World shares were mostly higher Monday after a strong close on Wall Street last week, though the latest manufacturing surveys showed weakening factory activity in Asia’s two biggest economies: China and Japan. Germany’s DAX gained 0.3 percent to 13,522,83 while the CAC 40 in Paris added 0.4 percent to 6,473.00. Britain’s FTSE 100 climbed 0.4…
Alibaba Shares Post Worst Drop in a Month After China Data Probe Report
July 16, 2022
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SHANGHAI—Shares in Alibaba Group fell the most in a month on Friday, after the Wall Street Journal reported that the Chinese tech giant’s cloud division has been summoned by Shanghai authorities in connection with a theft of police data. An anonymous hacker had earlier this month claimed to have obtained personal information of more than…
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