Shares of FedEx Corp. FDX, +0.27% climbed 0.5% in premarket trading Tuesday, after the package-delivery company announced a $1 billion accelerated share repurchase program. The ASR agreement represents about 1.6% of FedEx’s market capitalization of $61.98 billion as of Friday’s close. The company said the repurchases will be completed no later than Feb. 29. When the company reported fiscal second-quarter results last week, FedEx said it planned to buy back $1 billion worth of stock in 2024. FedEx’s stock h ...

Investors have driving quite a bounceback for stocks during 2023, and the trend for gains that started late in October has been gaining steam. Below is a list of the favorite stocks for 2024 among analysts working for brokerage firms.For perspective, take a look at the S&P 500’s return since the end of 2021: The S&P 500 has returned nearly 26% this year, but it is up only 3.1% since the end of 2021. FactSet All returns in this article include reinvested dividends. The chart incorporates the 25.9% increas ...

Bristol Myers Squibb Co. BMY, +2.01% announced Tuesday an agreement to buy radiopharmaceutical therapeutics company RayzeBio Inc. RYZB, +9.37% in a deal valued at $4.1 billion. Under terms of the deal, Bristol Myers will pay $62.50 in cash for each RayzeBio share outstanding, which represents a premium of 104.4% over Friday’s closing price of $30.57. RayzeBio’s stock was halted for new until 7:30 a.m. Eastern and Bristol Myers’ stock tacked on 0.2% in premarket trading. “This transaction enhances our incre ...

China’s crackdown on domestic dissent, paranoia about espionage, persecution of private executives and harassment of foreign businesses have instigated widespread fear, pessimism and deflation.However, China is not Japan in the 1990s. It has a formidable export machine that is not simply based on a cheap currency, inexpensive labor and subsidies. Otherwise, China’s consumer spending growth would be negative rather than just growing less rapidly owing to a lack of real income, not simple apprehension about t ...

Shares of Nio Inc. NIO, +1.57% jumped 3.4% in premarket trading Tuesday, as investors appeared to cheer the China-based electric vehicle maker’s Nio Day 2023 held over the weekend. At Nio Day in Xi’an, China, the company unveiled on Saturday its new four-seater ET9 EV, with deliveries expected to start in the first quarter of 2024. The stock has rallied 15.8% month to date, putting it on track to snap a four-month losing streak in which it tumbled 52.5%. It has shed 13.6% year to date, while the iShares MS ...

ClearMotion, which makes road sensing software to improve suspension in vehicles, said it had secured a production order from global electric vehicle company NIO.The production order is for three million units of ClearMotion’s patented suspension technology which will be used to equip NIO NIO, +1.57% electric vehicles.ClearMotion was founded out of MIT and has locations in Boston in the U.S., Birmingham in the U.K., and Shanghai, China. The company’s software works by adapting the vehicle to the road surfac ...

As sneaker makers try to stay relevant amid waning demand, Nike Inc. executives on Thursday said they were banking on “newness and innovation” to win over reluctant shoppers. And as sales deals on shoes proliferate, they said interest in its sneakers that cost over $100 is still solid, and that an expansion of its Jordan brand — beyond basketball and shoes — represent big opportunities to boost profits. But one analyst on Friday cast doubt over whether those plans will work for all of Nike’s NKE, -11.92% cu ...

Tesla Inc. is poised to join the trillion-dollar club next year, defying growing Wall Street skepticism regarding electric vehicle demand, according to Wedbush analyst Dan Ives.The longtime bull on Tesla TSLA said the bear case on the company was that demand was eroding at a time when competition around the world was increasing.“Instead, Musk made a poker move for the ages and cut prices globally with China front and center to catalyze volumes/units which should now impressively be in the 1.8 million range ...

Shares of Nike Inc. NKE, +0.91% plunged 12.9% toward a one-month low in premarket trading Friday on the back of a disappointing earnings report, as they head for the biggest one-day selloff in 26 years. The athletic apparel and accessories giant’s stock was the biggest decliner among Dow Jones Industrial Average DJIA, +0.87% and the S&P 500 SPX, +1.03% trading ahead of the open. The stock’s implied price decline would shave about 104 points off the Dow’s price, while Dow futures shed 106 points, or 0.3%. T ...

Shares of Karuna Therapeutics Inc. KRTX, +1.80% rocketed 47.3% into record territory in premarket trading Friday, after the biopharmaceutical company announced an agreement to be bought by Bristol Myers Squibb Co. BMY, +0.59% in a deal valued at $14 billion. Bristol Myers’ stock slumped 2.2% ahead of the open. Under terms of the deal, Bristol Myers will pay $330 in cash for each Karuna share outstanding, which represents a 53.4% premium to Thursday’s closing price of $215.19. The agreement was reported ear ...