Elanco shares fall 12% on disappointing revenue outlook
The Greenfield-based maker of animal medicines said fourth-quarter revenue fell due to “environmental and competitive pressure” and could continue to slip this year.
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S&P 500 closes out dismal year with worst loss since 2008
The benchmark index fell 0.3% Friday, the last trading day of the year, leaving it down 19.4% for the year.
2022 Year in Review: A year of ups, downs and uncertainty
The stock market dropped in 2022. So did the unemployment rate. Except in Indiana, where in both cases, the numbers crept up.
Point Biopharma shares sink after pricing new stock offering at discount
Indianapolis-based biotech firm Point Biopharma Global Inc. hopes to raise about $125 million in the offering, before underwriting expenses and deductions.
Wall Street has worst day in more than 2 years on inflation data
The hotter-than-expected inflation reading has traders bracing for the Federal Reserve to ultimately raise interest rates even higher than expected to combat inflation, with all the risks for the economy that entails.
Stocks see biggest drop in 2 months as Fed dashes hopes for easing rates
The losses came after Chair Jerome Powell said the Federal Reserve will likely need to keep interest rates high enough to slow the economy for some time in order to beat back the high inflation sweeping the country.
Student, 20, makes $110M trading meme stock Bed Bath & Beyond
Jake Freeman, a math major, bought 4.96 million shares at $5.50 each in July through a Wyoming-based holding company he set up. On Tuesday—a day when the stock spiked above $27 a share—he sold everything.
Companies facing first tax on stock buybacks in Biden bill
Under the bill, companies will face a new 1% excise tax on purchases of their own shares, effectively paying a penalty for a maneuver that they have long used to return cash to investors and bolster their stock price.
Lilly Endowment sells more than $500 million in Eli Lilly stock
The stock sale is a primary way for the endowment, one of the largest private philanthropic foundations in the United States, to raise cash to make grants to arts, education, religious and community development organizations.
Wall Street expects inflation squeeze on 2Q earnings
Inflation tightened its grip on businesses and consumers during the second quarter and investors expect to see a dent in the latest round of corporate earnings.
Indiana stocks fare better than most this year
At the close of trading June 24, Bloomberg’s Indiana Index was trading at $375.30, up 0.55% from the beginning of the year. The S&P 500 was down 18.45% and the tech-heavy Nasdaq was down 26.59%.
From stocks to crypto, a punishing six months for investors
The S&P 500, Wall Street’s broad benchmark for many stock funds, closed the first half of 2022 with a loss of more than 20% after starting the year at an all-time high. It’s the worst start to a year since 1970, when Apple and Microsoft had yet to be founded.
Recession fears grow as Dow closes below 30,000, mortgage rates spike
Financial markets shuddered Thursday as they adjusted to the Federal Reserve’s latest attempts to address inflation.
Explainer: What it means for S&P 500 to be in bear market
Wall Street is back in the claws of a bear market as worries about inflation and higher interest rates overwhelm investors.
Hot inflation dims likelihood Fed can achieve ‘soft landing’
The prospect that the Fed will accelerate its credit tightening, further raising borrowing costs for households and businesses, drove the stock market sharply lower Monday. The broad S&P 500 index fell into bear-market territory.
Stock market slump unsettling Americans eying retirement
A stock market slump this year has taken a big bite out of investors’ portfolios, including retirement plans like 401(k)s.
Target shares plunge 26% amid rout of retail stocks
Target Corp. is on pace for its worst stock drop since 1987’s Black Monday crash after becoming the second big retailer in two days to trim its profit forecast. Other retailers suffered steep drops in their stock prices Wednesday.
Elanco reports solid quarter but global concerns lead to drop in share price
Several analysts said Elanco faces a bright future, implying that the market might be overreacting to the lowered revenue and profit guidance.
Wall Street’s losses worsen as markets tumble worldwide
U.S. stocks are tumbling toward their lowest point in more than a year as renewed worries about China’s economy pile on top of markets already battered by rising interest rates.
In wicked reversal, stock market has worst day in two years
The sell-off was a sharp reversal of fortunes after markets posted large gains on Wednesday, a whiplash caused by temporary confusion over the Federal Reserve’s approach to raising interest rates this year.