Financial institutions saw their shares tumble following a disappointing fourth-quarter performance from Robinhood and a renewed retreat in the cryptocurrency market. The downturn reflects growing investor caution as strong employment figures challenge expectations for imminent interest rate cuts by the Federal Reserve.
U.S.-based lithium giant Albemarle announced Wednesday it will immediately halt operations at its remaining production line in Kemerton, Western Australia. The decision to place the lithium hydroxide processing plant into care and maintenance follows a period of crushing price volatility, forcing the company to prioritize cost-cutting despite a recent uptick in sales.
Shares of North Carolina-based Duke Energy and its industry peers climbed after the utility giant reported fourth-quarter revenue gains fueled by a significant uptick in power demand from artificial intelligence data centers.
FirstEnergy Corp. announced a 4.5% increase to its quarterly dividend on Wednesday, raising the payout to 46.5 cents per share as the utility company moves to enhance shareholder returns.
Gaming and Leisure Properties (GLPI) has finalized the $700 million acquisition of Bally's casino and resort real estate in Lincoln, Rhode Island. The deal, funded primarily through debt, expands GLPI's footprint in the Northeast and is expected to immediately boost the company's adjusted funds from operations per share.
Primerica Inc. announced a 15% increase to its quarterly dividend on Wednesday, raising the payout to $1.20 per share from the previous $1.04. The move signals a robust start to the fiscal year for the financial services provider as it strengthens its capital return program.
Apimeds Pharmaceuticals and Lkahi Therapeutics will consult with the U.S. Food and Drug Administration on May 4 to establish a regulatory path for LT-100, a purified honeybee venom treatment for osteoarthritis. The Type C meeting marks a significant step in transitioning the South Korean-approved therapy into the American clinical pipeline.
Singapore-based Grab Holdings has reached an agreement to acquire U.S. digital financial services firm Stash Financial for $425 million, marking a significant strategic push into the American fintech market. The deal is expected to close in the third quarter of 2026, pending regulatory approvals and customary closing conditions.
Manulife Financial announced a double-digit increase to its quarterly dividend on Wednesday, raising the payout to 48.5 cents per share as it strengthens its commitment to shareholder returns.
Chicago-based restaurant chain Portillo's has appointed industry veteran Brett Patterson as its next chief executive, effective Feb. 23. Patterson will succeed interim leader Michael A. Miles Jr., taking the helm of the fast-casual brand as it stabilizes its front office following a period of executive transition.
Cognex Corp. shares surged in late trading Wednesday after the machine vision specialist unveiled a massive $500 million expansion to its share repurchase program and reported quarterly results that cleared Wall Street expectations on both the top and bottom lines.
Benchmark Mineral Intelligence has released its latest price assessment for essential electric vehicle battery materials, with Lithium Carbonate currently trading at $20,700 per metric ton in the Chinese market. The data underscores the current valuation of the world's most critical green-energy supply chain components.
NVR, the prominent homebuilder and mortgage provider, announced Wednesday that its board has authorized a new $750 million share repurchase program. The move reinforces a long-standing capital return strategy that has been a cornerstone of the company’s financial policy for three decades.
Meta Platforms has officially broken ground on a $10 billion data center in Lebanon, Indiana, a cornerstone of the company’s aggressive push to expand its artificial intelligence infrastructure. The facility, designed to support one gigawatt of capacity, represents a significant escalation in Meta’s capital spending as it integrates generative AI into its global advertising ecosystem.
U.S. natural gas stockpiles likely plummeted last week as freezing temperatures from winter storm Fern drove sustained heating demand across much of the country. Analysts surveyed by the Wall Street Journal anticipate a withdrawal of 264 billion cubic feet (Bcf) for the week ended Feb. 6, a figure that significantly outpaces historical norms.
Upstart Holdings shares tumbled 15% on Wednesday after the AI-driven lender issued a full-year margin forecast that trailed Wall Street expectations, overshadowing a surprise quarterly profit and a leadership transition. While the company’s revenue outlook surpassed estimates, a shift toward lower-yielding credit products signaled potential pressure on profitability through 2026.
Smurfit Westrock shares surged 10% on Wednesday after the packaging giant reported fourth-quarter revenue that edged past Wall Street estimates, signaling resilience despite a bottom-line miss. While net income fell short of analyst projections, investors appeared encouraged by the company’s aggressive restructuring and an optimistic outlook for the coming year.
Marathon Petroleum reported a power outage at its Catlettsburg, Kentucky, refinery on Tuesday, forcing the facility to initiate emergency flaring protocols. The outage disrupted operations at the 300,000-barrel-per-day (bpd) plant, though the company confirmed that all personnel are safe and no injuries occurred during the incident.
Enbridge is set to report its fourth-quarter results on Friday before markets open, with analysts expecting a marginal increase in core earnings and improved cash flow as the company navigates a complex North American energy landscape.
Allied Properties Real Estate Investment Trust saw its shares crater Wednesday after announcing a C$500 million ($369 million) fundraising effort to combat a massive C$1.01 billion quarterly loss. The Toronto-based REIT, which focuses on urban office spaces, is attempting to shore up its balance sheet as property valuations plummet across the commercial sector.
Angi reported a 10% decline in fourth-quarter revenue to $240.8 million, missing analyst expectations and sending shares tumbling 16% in after-hours trading. Despite the slump and a recent workforce reduction of 350 employees, CEO Jeff Kip remains optimistic that the home-services platform will return to revenue growth by 2026 as it pivots its business model.
U.S. commercial crude oil inventories jumped by 8.5 million barrels last week, defying analyst expectations as domestic production recovered from recent winter storm disruptions. Data released Wednesday by the U.S. Energy Information Administration (EIA) shows a sharp reversal from predicted draws, driven by a surge in output and rising imports.
Koppers Holdings Inc. has announced a roughly 13% increase to its quarterly dividend, raising the payout to 9 cents per share as the company signals confidence in its long-term financial trajectory. The supplier of treated wood products and carbon compounds will distribute the new dividend on March 23 to shareholders of record as of March 6.
Terex Corp. shares surged 15% to a new annual high after the industrial manufacturer reported a swing to fourth-quarter profitability and revenue that outpaced market expectations.
Stellantis’s FCA US division has issued an urgent “do not drive” warning for approximately 225,000 Chrysler, Dodge, Jeep, and Ram vehicles equipped with defective Takata airbag inflators. The National Highway Traffic Safety Administration (NHTSA) announced the advisory on Wednesday, emphasizing that owners should ground their vehicles immediately until free repairs are completed.
Marula Mining has entered a joint venture to acquire an initial 50% interest in the Derdepoort manganese mine in South Africa, a deal valued at approximately £1 million ($1.4 million). The Kenya-based miner, operating through its subsidiary Muchai Mining, secured the stake from Infinity Resource Group to consolidate its footprint in the region’s mineral-rich Northern Cape.
Centrus Energy shares tumbled 20% on Wednesday after the nuclear fuel supplier reported fourth-quarter earnings and revenue that failed to meet Wall Street expectations. The company, which specializes in low enriched uranium (LEU), also issued a 2024 revenue forecast that trailed analyst estimates, overshadowing a new strategic partnership aimed at expanding its domestic enrichment capacity.
Phillips 66 announced a 5.8% increase to its quarterly dividend on Wednesday, raising the payout to $1.27 per share from the previous $1.20. The move, which brings the annualized distribution to $5.08, signals management's confidence in the company's ability to maintain strong capital returns despite broader market volatility.
Toronto’s main stock index retreated on Wednesday as a sharp decline in Shopify shares overshadowed a robust report on Canadian construction activity. By midday, the S&P/TSX Composite Index fell 0.4% to 33127.18, reversing earlier gains as investors weighed cautious tech guidance against broader economic signals.
Petroleum futures rallied Wednesday as escalating tensions between the U.S. and Iran eclipsed a significant rise in domestic crude inventories. Despite an 8.5 million-barrel surge in stockpiles reported by the Energy Information Administration, markets focused on geopolitical risks and a sharp decline in distillate supplies following a recent cold snap.
