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Amneal Pharmaceuticals ( NASDAQ:AMRX ) has announced a $270 million settlement to settle claims related to its alleged contribution to the opioid crisis in the U.S. The agreement, payable over a decade, aims to address a substantial portion of the more than 900 opioid-related lawsuits facing the company. State attorneys general have accused Amneal ( NASDAQ:AMRX )...
Singaporean telehealth provider Mobile-Health Network Solutions ( NASDAQ:MNDR ) has experienced a significant drop in its stock price, dropping 85% to $3.39 a share, below its $4 IPO price. The stock, which surged over 580% in its first weeks of trading, was one of the hottest US IPOs of the year. The telehealth provider's market value was over $925 million at the...
Meta has invested $30 billion in 1 million NVIDIA GPUs to improve its AI model training capabilities and push technological boundaries in AI development. The acquisition, which includes a million GPUs, is one of the largest in the technology industry for such equipment and represents a major milestone in Meta's strategic direction towards the development of...
A US Department of Justice (DoJ) investigation into TD Bank ( NYSE:TD ) is focused on how Chinese drug traffickers and crime groups used Canada's second-largest lender to launder their money from fentanyl sales. The bank disclosed last year that it was cooperating with authorities in an investigation into its anti-money laundering compliance program by the DoJ....
Solana ( CRYPTOCAP:SOL ) has become the top performer among the top 10 crypto tokens, with Popcat (POPCAT) hitting a new all-time high of $0.6100 and market capitalization upwards of $577.58 million. This surge is attributed to the growing popularity of projects launched on the CRYPTOCAP:SOL blockchain, which have consistently posted remarkable success. Meme...
Cloudflare Inc. shares ( NYSE:NET ) fell by 18.35% after the company's second-quarter revenue projections fell short of analysts' expectations. The company estimated revenue to be between $393.5 million and $394.5 million in the second quarter, with the midpoint missing analysts' estimates of $394.5 million. This has raised concerns about the company's ability to...
Apple stock ( NASDAQ:AAPL ) rallied 7% after the company announced a record-setting $110B stock buyback program, marking the largest buyback value ever announced in US history. The move follows Apple's second-quarter earnings, which topped Wall Street's estimates by 22%. The company's board authorized $110 billion in share repurchases, a 22% increase over last...
Amgen Inc.'s shares ( NASDAQ:AMGN ) rose by 15.9% when the market opened on Friday, marking its biggest intraday rise since July 2009. The company has emerged as a potential competitor to Eli Lilly & Co. and Novo Nordisk A/S, which currently dominate the weight-loss market. Demand for anti-obesity drugs like Zepbound and Wegovy is so strong that Intelligence's...
Square-parent Block ( NYSE:SQ ) reported first-quarter earnings and revenue that topped estimates, with guidance for Square stock coming in above expectations. Square's earnings for the period ended March 31 were 74 cents per share on an adjusted basis, up 85% from the year-earlier period. Net revenue came in at $5.96 billion, up 19% from a year earlier, including...
Booking Holdings ( NASDAQ:BKNG ) has reported a remarkable surge in earnings for the first quarter, defying earlier concerns about the travel industry's recovery. The company's stellar performance not only exceeded analyst expectations but also underscored a robust demand for travel services despite ongoing global challenges. Unveiling Impressive...
Sony Group Corp. and Apollo Global Management Inc. have proposed a $26 billion deal to buy Paramount Global ( NASDAQ:PARA ), the media giant that owns CBS and MTV. The offer is described as a nonbinding expression of interest and would be an all-cash offer for Paramount shares, plus the assumption of debt. Paramount, controlled by Shari Redstone, is weighing a...
Moderna ( NASDAQ:MRNA ) stock broke out for the first time in a year after beating Wall Street's first-quarter expectations as its second potential approval looms. The company hopes to win Food and Drug Administration approval for its RSV vaccine, which causes cold-like symptoms in most people but can be serious or deadly in babies and older adults. The FDA is due...
Apple is ( NASDAQ:AAPL ) facing low expectations as it prepares to report its second-quarter results, with its reputation as a market leader being refuted this year. The company's reputation for outperforming in all market conditions has been refuted, as it sharply lags peers with better growth, a clearer AI narrative, and a cheaper price tag. However, there may...
Fastly ( NYSE:FSLY ) shares plummeted 35% on Thursday after the company lowered its 2024 revenue outlook due to pricing pressure for its top customers. The company reported first-quarter revenue and earnings slightly above consensus estimates, but shares plunged on management's outlook. Bank of America downgraded the stock to underperform from buy, questioning a...
As Ethereum ( CRYPTOCAP:ETH ) attempts to stage a comeback following a recent downturn, the cryptocurrency market finds itself at a crossroads, influenced by a multitude of factors ranging from regulatory uncertainty to macroeconomic trends. The recent decision by the Federal Reserve not to tamper with interest rates provided a brief respite for CRYPTOCAP:ETH 's...
FTX Estate’s 3rd Round of Sales Commences for Locked SOL Tokens After concluding the second round of the auction for the locked SOL tokens, FTX estate kickstarted the third tranche on May 1. It was reported that the 1.8 million CRYPTOCAP:SOL tokens sold in the second round saw the liquidators fetch approximately $232 million after a multi-week sale. While bids...
Novo Nordisk ( NYSE:NVO ) stands as a beacon of innovation, continually pushing boundaries in the treatment of diabetes and obesity. However, despite its recent successes, the company finds itself navigating the delicate balance between bullish growth projections and meeting market expectations. The latest buzz surrounds Novo Nordisk's weight-loss blockbuster,...
Carvana ( NYSE:CVNA ) stock Skyrocketed more than 30% during Thursday's market open after the used car retailer reported record results and turned a profit during the first quarter. Company's Performance Earnings per share: 23 cents — it was not immediately clear if it was comparable to the loss of 74 cents expected. Revenue: $3.06 billion reported Vs. $2.67...
