• Kodak stock surges after probe clears CEO’s share purchases

    Kodak stock surges after probe clears CEO’s share purchases

    Kodak’s stock price soared Wednesday after an investigation cleared company bosses of insider trading allegations stemming from its attempted pivot to pharmaceuticals. Shares in the onetime photography giant surged as much as 83 percent to $11.40 in early trading following the Tuesday release of a report from the law firm Akin Gump, which Kodak’s board …
  • Nikola’s stock slides amid questions from short-seller

    Nikola’s stock slides amid questions from short-seller

    Shares of Nikola sank 7 percent on Tuesday after the short-selling research house that alleged the electric truck maker misled investors over its technology said the company had failed to address most of its queries. Nikola has rejected the accusations and threatened to take legal action against short-seller Hindenburg since its research into the company sparked …
  • NYSE may move trading systems from NJ over stock trade taxes

    NYSE may move trading systems from NJ over stock trade taxes

    The New York Stock Exchange has indicated that it will move its electronic trading systems out of New Jersey if the state implements a proposed tax on financial transactions, according to an internal memo seen by Reuters. The NYSE plans to announce that it will run one of its exchanges from a backup site in …
  • Hedge fund stake sends shares in Kodak up 65 percent

    Hedge fund stake sends shares in Kodak up 65 percent

    The wild ride that is Kodak’s stock market performance appears far from over. The company’s stock shot up by 65 percent on Tuesday after news broke that New York-based hedge fund D.E. Shaw had built up a 5.2 percent stake in the moribund camera technology firm. Word of D.E. Shaw’s stake, disclosed in a regulatory …
  • Robinhood facing SEC probe over March outage

    Robinhood facing SEC probe over March outage

    Robinhood Markets, the fintech startup credited with helping popularize trading among millennials, is being investigated by the Securities and Exchange Commission and the Financial Regulatory Authority over its handling of a system outage in March, Bloomberg News reported on Monday. One area of focus for the investigation is Robinhood’s lack of customer response, the report …
  • GameStop shares soar 27 percent on Chewy.com founder’s stake

    GameStop shares soar 27 percent on Chewy.com founder’s stake

    Shares of GameStop shares jumped more than 27 percent on Monday after it emerged that the founder of pet food company Chewy.com took a stake in the video game retailer. Ryan Cohen, whose Chewy.com was scooped up in 2017 for $3.35 billion by PetSmart, has taken a 9-percent stake in struggling GameStop via his RC …
  • Apple, Tesla shares pop after stock splits

    Apple, Tesla shares pop after stock splits

    The high-flying shares of Apple and Tesla rose further on Monday, as investors jumped at the opportunity to own shares at more affordable prices after the companies split their stock. Apple’s previous stock split was 7-for-1 in 2014 and its fifth since going public in 1980. Splitting stocks is a way for companies to make …
  • Roku and Netflix surge more than 11 percent after upbeat analyst reports

    Roku and Netflix surge more than 11 percent after upbeat analyst reports

    Shares of Roku surged over 11 percent Wednesday after Citi initiated coverage of the streaming video company with a “buy” rating, while Netflix also gained more than 11 percent in a rally that put it on track for its largest one-day gain in three years. Roku and Netflix are among several technology-related companies that have …
  • Dick’s sales jump more than 20 percent on COVID-19 fitness craze

    Dick’s sales jump more than 20 percent on COVID-19 fitness craze

    At-home workouts and outdoor athletic activities are shaping up to be good business for Dick’s Sporting Goods. The retailer’s second-quarter results easily beat Wall Street’s expectations as consumers continue to focus on health and wellness while stuck at home amid the coronavirus pandemic. “During this pandemic, the importance of health and fitness has accelerated and …
  • Peter Thiel’s Palantir reveals $580 million losses in bid to go public

    Peter Thiel’s Palantir reveals $580 million losses in bid to go public

    Big-data firm Palantir revealed it lost more than half a billon dollars in each of the last two years as it prepared to go public. The secretive data-mining titan co-founded by tech tycoon Peter Thiel pulled back the curtain on its finances in a Tuesday filing for a direct listing that showed net losses of …