Chevron Corp. CVX, -0.41% said Tuesday it expects to book $3.5 billion to $4.0 billion of non-cash, after-tax charges in its fourth-quarter results due to the impairment of some of its U.S. upstream assets. In a regulatory filing, the oil major said most of the impairment will be on California assets, due to regulatory challenges in that state that have resulted in lower expected future investment levels in its business plans.  “In addition, the company will be recognizing a loss related to abandonment and ...

Shares of Apple Inc. are starting 2024 with a selloff, after Barclays analyst Tim Long said it was “time for a breather,” citing weak hardware sales as iPhone 15 demand disappoints.“We are still picking up weakness on iPhone volumes and mix, as well as a lack of bounce-back in Macs, iPads and wearables,” Long wrote in a note to clients. “The biggest takeaway from the latest checks is incrementally worse [iPhone] 15 data points out of China, together with developed markets remaining soft.”He cut his rating o ...

Joyy Inc.’s stock YY, +0.81% fell 11% in premarket trade Tuesday, after the Singapore-based live-streaming platform said Baidu Inc. BIDU, +1.08% has cancelled its $3.6 billion bid for the company. Baidu said in a regulatory filing that the closing conditions for the all-stock agreement had yet to be fully satisfied. “The company seeks to discuss with JOYY the next steps following the termination of the share purchase agreement,” the Chinese tech company said. Separately, Joyy said it is seeking legal advic ...

The first trading day of the New Year is setting up as a challenge to the Santa Rally theory, as stock index futures tilt south and bond yields rise. Now investors are waiting for the minutes of the Federal Reserve’s last meeting due on Wednesday and the U.S. December jobs data on Friday.“Data that comes in too hot will kill the idea of rate cuts starting as soon as March, and data that comes in too cold will kill the idea of a soft landing. It means Goldilocks must return from her Christmas trip to Aruba a ...

Blackstone Inc.’s BX, -1.66% infrastructure unit has agreed to invest $2.41 billion in Northern Indiana Public Service Company LLC, a unit of NiSource Inc. NI, , the firms said Tuesday. NiSource said an affiliate of Blackstone Infrastructure Partners will pay $2.16 billion for 19.9% indirect non-controlling equity interest in Northern Indiana Public Service Co. Blackstone also made an additional equity commitment of $250 million to fund ongoing capital requirements. Sebastien Sherman, senior managing direc ...

General Electric Co. has saved its best year for its last.At the beginning of the second quarter, GE’s power and renewable-energy business will be spun off as GE Vernova, while its remaining business will be relaunched as GE Aerospace. That follows the conglomerate’s separation of GE HealthCare Technologies Inc. GEHC, -0.05% in December 2022.But rather than mourn the final breakup of the 150-year old company, which was co-founded by Thomas Edison, Wall Street cheered like it never had before. GE’s stock GE, ...

The 2023 rally for stocks in the U.S. accelerated as more investors bought the idea that the Federal Reserve succeeded in its effort to bring inflation to heel.As of 10 a.m. ET on Friday, the S&P 500 was up 24.6% for 2023, following a 19.4% decline in 2022. (All price changes in this article exclude dividends). Among the 500 stocks, 65% were up for 2023. Below is a list of the 20 best performers of 2023 in the benchmark index.This article focuses on large-cap stocks. MarketWatch Editor in Chief Mark DeCambr ...

Shares of Amazon.com Inc. climbed back into positive territory for the week on Thursday, putting them on track to end the year with a record-tying weekly winning streak.After inching 0.03% lower over the past three sessions, the e-commerce and cloud giant’s stock AMZN, -0.03% rose 0.24% in morning trading Friday and was up 0.22% this week.If the stock can hold its gains through the close, it would be up for 10 straight weeks. That would tie the current record 10-week streak that lasted through the week endi ...

Shares of Nvidia Corp. NVDA, +0.21% rose 0.4% in premarket trading Friday, to put the S&P 500’s best performers in 2023 on track to end the year on a four-day win streak. The semiconductor maker and artificial intelligence play’s stock has rocketed 238.9% year to date through Thursday, and is headed for the best yearly performance since it soared 308.4% in 2001. And as MarketWatch’s Philip van Doorn reported, Nvidia’s stock is the favorite S&P 500 stock of Wall Street analysts for 2024, as average price ta ...

UnitedHealth Group Inc. UNH, +0.40% disclosed Friday that it will record a charge of about $7 billion, as it has agreed to sell its Brazil operations to a private investor. The health insurer said the charge is a result of cumulative losses from foreign currency translation. UnitedHealth’s stock edged up 0.6% in light premarket trading. The company said the 2024 net earnings will be impacted as a result of the charge, but its adjusted earnings per share outlook remains unchanged at $27.50 to $28. The compa ...