Elon Musk to join Twitter’s board after becoming largest shareholder
Putting Musk on Twitter’s board and limiting the amount of stock he can acquire while as a director may be a strategic move on Twitter’s part.
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Suddenly, Twitter’s biggest stakeholder is Tesla’s Elon Musk
Twitter co-founder Jack Dorsey stepped down as CEO in November. Musk’s stake in Twitter is now more than four times the size of Dorsey’s, who had been the largest individual shareholder.
Elon Musk takes 9.2% stake in Twitter; shares skyrocket
Twitter shares exploded 26% in premarket trading after the Securities and Exchange Commission filing showed that Musk snapped up more than 73 million shares, valued at $2.89 billion.
As Lilly stock surges, endowment prepares to give away more cash
Since early March, the Lilly Endowment has sold 1.3 million shares of Eli Lilly and Co. stock, raising $391 million, according to government filings.
Explainer: Bond yields might be warning of upcoming recession
The “yield curve” is watched for clues to how the bond market is feeling about the U.S. economy’s long-term prospects. On Tuesday, a closely followed part of the yield curve gave investors some cause for concern.
KAR shares rise 40% after Carmel firm says it will sell ADESA
The Carmel-based auction services company declined to say how many of its 1,000 employees in Indiana would be affected by the transaction. But it said the buyer—Carvana Co.—will not require any employees to relocate.
Philly-based sports betting exchange eyes 2023 launch in Indiana
Sporttrade Inc. offers users a betting exchange through which they can trade sports bets as if they were stocks.
Shares dive, oil soars after Russian action in Ukraine
Market benchmarks in Europe and Asia fell by more than 4% as traders tried to figure out how large Russia’s incursion would be and the scale of Western retaliation. Wall Street futures sank, indicating that U.S. shares were likely to retreat after trading opens.
A 10% drop for stocks can be scary for investors, but it’s not that rare
The worries rocking Wall Street about interest rates, inflation and now Ukraine have sent the S&P 500 index—the most widely followed measure of the U.S. stock market—tumbling more than 10% from its record.
World shares mixed as investors eye Ukraine, inflation
The concern that Russian troops could descend on the Ukrainian capital, Kyiv, a city of about 3 million people less than a three-hour drive away, has added to uncertainties for investors already jittery over central bank strategies to combat inflation.
U.S. stocks end January on a high note, but still chalk up worst month since March 2020
The S&P 500 index advanced 1.9%, reclaiming some of its January losses but still closing down nearly 5.9% in its worst monthly performance since March 2020. And the tech-heavy Nasdaq, still down 10% for January, climbed 3.4%, boosted by investors looking to buy the dip.
Stocks storm back from huge early rout to close higher
A stock selloff that at one point rivaled any of the last two years was all but wiped out as dip buyers emerged by Monday’s close, the latest breathtaking reversal in markets.
Dow drops 1,000 points as markets extend slide in 2022
Stocks extended their three-week decline on Wall Street and put the benchmark S&P 500 on track to a so-called correction—a drop of 10% or more from its most recent high.
Stocks end 2021 on weak note, but still notch huge yearly gain
The market kept setting new highs all year despite plenty of challenges, including rising inflation, global supply chain disruptions and outbreaks of more contagious variants of the COVID-19 virus.
Powell says Fed might accelerate pullback in economic support
Chairman Jerome Powell said Tuesday that the Federal Reserve will consider acting more quickly to dial back its ultra-low-interest rate policies to counter higher inflation. His remarks quickly accelerated losses on Wall Street.
Wall Street steadies following last week’s omicron-related slide
The most powerful lift for stocks came from those that have been able to grow strongly almost regardless of the economy’s strength or pandemic’s pall.
Twitter co-founder Jack Dorsey steps down as CEO
Dorsey has faced several distractions as CEO, starting with the fact that he’s also founder and CEO of the payments company Square. Some big investors have openly questioned whether he could effectively lead both companies.
Disappearing shorts: As stocks soar, skeptics surrender
As the stock market has surged to records, activity has dwindled to a nearly two-decade low for the traders known as short sellers, who make their money betting stocks will fall.
Emmis makes stock buyback offer, seeking up to 2 million shares
The stock buyback offer, announced Thursday, applies to up to 2 million shares of Class A common stock at $2.60 per share, or more than $1 per share above the closing price of Emmis shares on Thursday.
Stocks fall on tech slide, as oil hits highest level since 2014
Investors are increasingly worried about inflation as oil prices rise and companies continue facing supply problems that increase their costs and force them to raise prices.