Turning Point Therapeutics, Lululemon, HR and others

Check out the companies making headlines before the bell: Turning Point Therapeutics (TPTX) – The biopharmaceutical company’s shares more than doubled in premarket trading after agreeing to be acquired by Bristol Myers Squibb (BMY) for $76 per share in cash, or $4.1 billion. Turning Point specializes in cancer treatments. lululemon (LULU) – Lululemon shares rose … Read more

UST debacle will ‘probably be the end’ of algorithmic stablecoins

Luna, the sister cryptocurrency of controversial stablecoin TerraUSD, dropped to $0. The collapse of the algorithmic stablecoin TerraUSD has raised question about the future survival of similar crypto assets. Dan Kitwood | Getty Images News | Getty Images Algorithmic stablecoins like terraUSDwhich collapsed and sent shockwaves through the cryptocurrency market, are unlikely to survive, the … Read more

Self-driving car companies’ first step to making money isn’t robotaxis

A WeRide robotaxi with health supplies heads to Liwan district on June 4, 2021, in the southern Chinese city of Guangzhou. Southern Metropolis Daily | Visual China Group | Getty Images BEIJING — While governments may be wary of driverless cars, people want to buy the technology, and companies want to cash in. It’s a … Read more

Tough new sanctions on Russian oil could change the OPEC+ dynamic

OPEC+ is expected to stick to its current production agreement for now, but behind the scenes the oil-producing nations could be planning for the day when Russia’s contribution to world oil supply could be far reduced. The European Union’s move to ban most Russian oil and put new sanctions on shipping insurance could seriously hamper … Read more

Capri Holdings, Salesforce, Weibo and others

Check out the companies making headlines before the bell: Capri Holdings (CPRI) – The parent of luxury brands, like Michael Kors, Versace and Jimmy Choo, saw its stock surge 11% in the premarket after posting better-than-expected quarterly numbers before giving back nearly all those gains. Capri earned an adjusted $1.02 per share, 20 cents above … Read more

Binance raises $500 million fund to invest in Web3 startups

Binance is the world’s biggest cryptocurrency exchange, handling $490 billion of spot trading volumes in March 2022. Akio Kon | Bloomberg | Getty Images Binance, the world’s largest cryptocurrency exchange, is launching its own venture capital fund. The company’s venture arm, Binance Labs, said Wednesday it has raised $500 million for its debut start-up fund, … Read more

Tesla’s Shanghai Plant Still Below Full Capacity. Tesla Stock Is Dropping.

Text size An aerial view of Tesla Shanghai Gigafactory Xiaolu Chu/Getty Images You’re here ‘s Shanghai factories are still not operating at full strength—but that’s not the only reason the EV company’s estimates still look too high. On Tuesday, Bloomberg reported Tesla (ticker: TSLA) will continue to operate its Shanghai facility in a closed-loop setting … Read more

5 things to know before the stock market opens Tuesday

1. S&P 500 futures are lower after snapping long losing streak Traders on the NYSE, May 20, 2022. Source: NYSE S&P 500 futures were lower Tuesday morning, as Wall Street resumes trading following the Memorial Day holiday. Stocks posted strong gains last week, ending seven-week losing streaks for the S&P500 and Nasdaq Composite and an … Read more

China faces a nearly $1 trillion funding gap. It will need more debt to fill it.

During the first four months of the year, investment in real estate development fell by 2.7% from a year ago. Pictured here is a project in Qingzhou, Shandong province, on May 15, 2022. CFOTO | Future Publishing | Getty Images BEIJING — The Chinese government faces a growing shortfall of cash, analysts say, as they … Read more

Recession-fearing investors keep slashing fastest-growing cloud stocks

Nima Ghamsari, co-founder and chief executive officer of Blend, speaks during the Sooner Than You Think conference in New York on Oct. 16, 2018. Alex Flynn | Bloomberg | Getty Images Tech investors finally got some relief this past week, as the Nasdaq broke a seven-week losing streak, its worst stretch since the dot-com bust … Read more