Stock News

J.P. Morgan shares close higher on Wednesday, bank fires employees over misuse of EIDL funds for coronavirus relief

According to a report by the Financial Times, citing a source with knowledge of the matter, several J.P. Morgan Chase employees were fired on allegations they had violated the bank’s code of conduct by misusing funds that were meant to aid businesses to overcome the negative effects of the coronavirus pandemic. Those persons fraudulently got […] Read more

Tesla shares register the sharpest single-day drop ever on Tuesday, loss overshadows combined market value of GM and Ford

Tesla Inc (TSLA) lost almost $80 billion of its market capitalization on Tuesday, after it was surprisingly excluded from the S&P 500 index. The amount lost exceeded the combined market value of General Motors Co and Ford Motor Co. Market players and Wall Street analysts largely anticipated Tesla to be included in the S&P 500 […] Read more

General Motors shares close higher on Friday, GM venture’s Hongguang MINI EV is now the most sold electric vehicle in China

The Hongguang MINI EV, a compact electric vehicle produced by General Motors Co’s joint venture in China, has become the most sold EV model in the country. According to industry data, 15,000 Hongguang MINI EVs were sold in August compared with 11,800 Tesla Model 3 sedans. The China Passenger Car Association, which has a different […] Read more

Amazon shares fall for a second straight session on Friday, company intends to create 10,000 jobs in Bellevue

Amazon.com Inc (AMZN) said on Friday that it intended to add 10,000 additional jobs in Bellevue, Washington during the upcoming few years. Amazon shares closed lower for a second consecutive trading session on NASDAQ on Friday. The stock went down 2.18% ($73.38) to $3,294.62, after touching an intraday low at $3,111.13, or a price level […] Read more

Ford shares gain for a second straight session on Wednesday, auto maker to eliminate 1,400 salaried jobs in the US by the end of 2020

Ford Motor Co (F) announced on Wednesday that it intends to cut 1,400 salaried jobs in the United States by the end of 2020 as part of $11 billion restructuring initiative. The US company said it would offer voluntary buyouts to workers who are eligible for retirement. Ford shares closed higher for a second consecutive […] Read more

Citigroup shares close lower on Monday, bank appoints Robin Rousseau as Vice Chairman of Investment Banking for EMEA

According to a report by Reuters, citing a corporate memo, Citigroup Inc (C) has appointed Robin Rousseau as its new Vice Chairman of Investment Banking for Europe, the Middle East and Africa (EMEA). He is expected to report to Philip Drury, the head of Citigroup’s banking, capital markets and advisory business across EMEA. Citigroup shares […] Read more

Boeing shares gain for a second straight session on Friday, eight 787 Dreamliners removed from service due to manufacturing flaws in fuselage section

Boeing Co (BA) said last Friday that eight 787 Dreamliners had been removed from service at several airlines, after the US company had found manufacturing issues in the fuselage section of the jets. Boeing shares closed higher for a second consecutive trading session in New York on Friday. The stock went up 0.92% ($1.60) to […] Read more

Walmart shares gain for a second straight session on Thursday, retailer ties up with Microsoft in its bid for TikTok

Walmart Inc (WMT) said on Thursday that it intended to tie up with Microsoft Corp in the software giant’s bid for TikTok, owned by China’s ByteDance. The Chinese company has been discussing the potential sale of TikTok’s operations in Australia, New Zealand and North America to companies such as Microsoft and Oracle. According to Reuters, […] Read more

AMC shares gain for a third straight session on Wednesday, company plans to open additional 170 US theatres, starting August 27th

Having reopened successfully over 100 of its theatres across the United States, AMC plans a second wave of reopenings. The company said that 170 more of its US locations would open on August 27th ahead of the release of “The New Mutants.” Once the second wave of reopenings is complete, AMC will have almost 300 […] Read more

Facebook shares gain for a second straight session on Tuesday, company to introduce news service in Germany, France, UK, Brazil and India

Having launched its news service in the United States in 2019, Facebook Inc (FB) revealed plans to introduce the feature in Germany, France, the United Kingdom, Brazil and India during the upcoming months. Facebook shares closed higher for a second consecutive trading session on NASDAQ on Tuesday. It has also been the sharpest single-session gain […] Read more