Disney trading on the backfoot after a filing revealed plans to significantly increase investment into the company’s theme parks and cruise businesses, with some $60 billion now earmarked for spending over the next ten years.
In New York, Disney stock was down 3.65% at $81.92. Read more
Rocket Lab USA Inc (NASDAQ:RKLB) (Rocket Lab USA Inc (NASDAQ:RKLB)) stock lost nearly 20% after a failed launch of the company’s latest satellite in the early hours of Tuesday.
The uncrewed Electron rocket launch, from New Zealand, planned alongside partner Capella Space failed minutes into the flight. The company’s next launch, slated for the third quarter, has now been suspended while the mission failure is analyzed. Read more
Apellis Pharmaceuticals Inc (NASDAQ:APLS) (Apellis Pharmaceuticals Inc (NASDAQ:APLS)) investors enjoyed some financial schadenfreude, with its stock rising over 9% in early deals after rival Astellas Pharma failed in a trial of an intended treatment for age-related macular degeneration. Read more
Block Inc (NYSE:SQ) (Block Inc (NYSE:SQ)) saw its stock give up close to 5% as it was announced that Alyssa Henry is stepping down from her role as chief executive of the fintech firm’s payment processing business Square.
Jack Dorsey, the group’s ‘Block Head’ and chair, is to temporarily pick up her responsibilities upon her departure on October 2.
Alyssa Henry helped transform Square into a software-led technology company and led the team during the pandemic, whilst expanding the enterprise payments platform, the company said in comments to media outlets. Read more
Arm Holdings PLC (NASDAQ:ARM) (Arm Holdings PLC (NASDAQ:ARM)) marked a near 5% decline by the end of dealing in America on Monday, the first day of options trading for the UK-headquartered semi-conductor firm.
A total of 74,000 options over Arm stock traded on Monday, according to market number crunchers, with the firm listed amongst the ‘top 50’ most active stocks in the options market. Most of the options, more than 80%, were October ‘puts’ meaning traders were positioning for the stock to trade lower in the coming weeks. Read more
Stitch Fix Inc (NASDAQ:SFIX) (Stitch Fix Inc (NASDAQ:SFIX)) stock plummeted as its fourth-quarter financials disappointed investors, and, the ‘online personal styling’ company sought to hit reset on its business. Matt Baer, who joined as new CEO in June, told investors the current business results are not indicative of what he believes the company can deliver, “I am committed to realizing the full potential of Stitch Fix and driving long-term, profitable growth,” he said in a rallying call.
At Monday's close Stitch Fix had fallen 5.6% to $3.05, now in premarket dealing the stock is down further – losing 6.56% to $2.85.
Reported at $375.8 million, fourth-quarter revenue was 22% lower than the prior year though was ‘better-than-feared’ given Wall Street analysts had pencilled in a forecast of $371.2 million. Read more
Chinese electric vehicle (EV) firm NIO Inc (NYSE:NIO) (NIO Inc (NYSE:NIO)) saw its stock drop over 4%, to $9.86, in Tuesday’s early premarket dealing, after it launched a $1 billion convertible bond financing during yesterday’s after-hours session.
The bonds are expected to have split maturity, with half due in 2029 and half in 2030, though the other financial details of the bond series, including interest rate and equity conversion terms have yet to be disclosed. Proceeds from the raise are earmarked for the repayment of existing debt facilities, and to bolster the car maker’s balance sheet. Read more