This is a Real-time headline. These are breaking news, delivered the minute it happens, delivered ticker-tape style. Visit www.marketwatch.com or the quote page for more information about this breaking news......»»

This is a Real-time headline. These are breaking news, delivered the minute it happens, delivered ticker-tape style. Visit www.marketwatch.com or the quote page for more information about this breaking news......»»

This is a Real-time headline. These are breaking news, delivered the minute it happens, delivered ticker-tape style. Visit www.marketwatch.com or the quote page for more information about this breaking news......»»

This is a Real-time headline. These are breaking news, delivered the minute it happens, delivered ticker-tape style. Visit www.marketwatch.com or the quote page for more information about this breaking news......»»

This is a Real-time headline. These are breaking news, delivered the minute it happens, delivered ticker-tape style. Visit www.marketwatch.com or the quote page for more information about this breaking news......»»

This is a Real-time headline. These are breaking news, delivered the minute it happens, delivered ticker-tape style. Visit www.marketwatch.com or the quote page for more information about this breaking news......»»

This is a Real-time headline. These are breaking news, delivered the minute it happens, delivered ticker-tape style. Visit www.marketwatch.com or the quote page for more information about this breaking news......»»

This is a Real-time headline. These are breaking news, delivered the minute it happens, delivered ticker-tape style. Visit www.marketwatch.com or the quote page for more information about this breaking news......»»

This is a Real-time headline. These are breaking news, delivered the minute it happens, delivered ticker-tape style. Visit www.marketwatch.com or the quote page for more information about this breaking news......»»

This is a Real-time headline. These are breaking news, delivered the minute it happens, delivered ticker-tape style. Visit www.marketwatch.com or the quote page for more information about this breaking news......»»

Stratasys Ltd. SSYS said Tuesday its board has unanimously rejected an $18 a share partial tender offer from Nano Dimension Ltd. NNDM, and said the offer “substantially undervalues Stratasys.” The two 3-D printing companies have been locked in a battle since Israel-based Nano Dimension launched an all-cash bid for Stratasys on March 9 and  disclosed that it was Stratasys’ largest shareholder with about 14.5% of the outstanding shares. After the Stratasys board rejected that offer, Nano Dimension sweetened it to $20.05 a share, which the board said “continues to substantially undervalue Stratasys in light of its standalone prospects and is not in the best interests of Stratasys and its shareholders,” as Dow Jones Newswires reported at the time. Then last week, Stratasys unveiled a deal to combine with Desktop Metal DM in an all-stock deal valued at $1.8 billion. Moments later, Nano Dimension launched a tender offer at the original $18 price to purchase shares that would boost its stake in Minneapolis-based Stratasys to 53% to 55%. “Due to the strength of our business and the significant upside potential of our pending merger with Desktop Metal, our Board’s position is clear: shareholders should reject Nano’s partial offer and ensure their voices are heard by delivering a Notice of Objection against the offer,” said Dov Ofer, Stratasys’ chairman. Stratasys shares have gained 18.7% in the year to date, while the S&P 500 SPX has gained 9.5%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news......»»

Coherent Corp. COHR disclosed Tuesday that it expects to record $150 million to $200 million in charges related to a restructuring plan approved last week. The engineered materials and opto-electronics components company said the restructuring includes site consolidations, the moving and closing of facilities and the relocation of certain manufacturing facilities, and will be coupled with other cost cutting measures, “as part of a transformation to a simpler, more streamlined” business model. The company said the expected charges will include $75 million to $100 million of severance and benefits charges. The restructuring is expected to be substantially completed by the end of fiscal 2025. The stock rallied 8.6% in premarket trading, after soaring 14.0% on Friday after announcing a collaboration with Japan-based Mitsubishis Electric Corp. JP:6503 to scale manufacturing of SiC power electronics for use in electric vehicles. Coherent’s stock has gained 5.2% year to date through Friday while the S&P 500 SPX has advanced 9.5%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news......»»

Vehicles and equipment maker Oshkosh Corp. OSK announced Tuesday an agreement to pay $800 million in cash to buy John Bean Technologies Corp.’s JBT AeroTech business. Shares of both Oshkosh and JBT were still inactive in the premarket. Oshkosh said the purchase of AeroTech, which provides aviation ground support products and gate equipment and airport services, will give Oshkosh an entrance into the air transportation support market. The deal, which is expected to close in the third quarter of 2023, should add to Oshkosh’s margins and deliver recurring revenue. The deal will be funded through a combination of cash on hand and use of its revolving credit facility. Oshkosh’s stock has dropped 16.2% year to date and JBT shares have rallied 15.7%, while the S&P 500 SPX has gained 9.5%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news......»»

Bristol Myers Squibb Co. BMY said Tuesday the U.S. Food and Drug Administration has accepted for priority review its application for repotrectinib as a treatment for patients with certain kinds of non-small cell lung cancer. Repotrectinib was the lead experimental drug of Turning Point Therapeutics, which Bristol Myers acquired for $3.8 billion in June of 2022. The treatment targets patients with ROS1-positive locally advanced or metastatic non-small cell lung cancer (NSCLC) and has shown positive results in that patient group in an ongoing trial called Trident-1. If approved, the drug would provide a potential best-in-class treatment for those patients, said Bristol Myers. The FDA has set a target action date of Nov. 27. The priority review process shortens the length of time the regulator takes to approve a therapy and is used for serious illnesses with no approved treatments. Lung cancer is the leading cause of cancer deaths globally and non-small lung cancer is one of the most common types. Bristol Myers’ stock was up 0.7% premarket but has fallen 11.3% in the year to date, while the S&P 500 SPX has gained 9.5%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news......»»

Arlington Asset Investment Corp.’s stock AAIC is rallying 50% in premarket trades Tuesday after Ellington Financial Inc. EFC said it would pay about $4.77 a share for the real estate investment trust in a cash and stock acquisition. The estimated market capitalization of the combined company is expected to exceed $1 billion. Under terms of the deal, each share of Arlington common stock will be converted into 0.3619 shares of Ellington Financial common stock, or approximately 11.7 million shares of Ellington Financial common stock. Arlington common stockholders will also receive $3 million in cash or 9 cents a share, to be contributed by Ellington Financial’s external manager. Ellington stock is down 4% in premarket trades.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news......»»

Tesla Inc.’s stock TSLA rose 3% premarket Tuesday, as Chief Executive Elon Musk was on a visit to China, his first in about three years. Wedbush analyst Dan Ives said the visit comes at a key time for the electric vehicle maker. “We would expect Musk to spend most of his visit around the key Shanghai Gigafactory plant which remains the hearts and lungs of the Tesla production globally,” Ives wrote in a note to clients. “With Giga Shanghai now producing over 80k units per month the production scale and scope of Tesla in China remains one of its key advantages as Musk & Co. face increasing domestic competition from the likes of BYD, Nio, Xpeng, and others with an EV price war underway within the country.” Musk is also expected to spend time meeting key officials in Beijing, that may even include Premier Li Qiang, said Ives. “While the geopolitical tensions between the US and China are increasing, Tesla (as well as Apple AAPL) finds itself in a tight wire act to balance its success and production within China which remains a vital market on both the supply and demand front,” said the analyst. “Playing nice in the sandbox in Beijing is something the Street is laser focused on to make sure there are no disruptions to Tesla’s expansion and tentacles within China for the coming years as this remains the #1 EV market in the world.” Ives has an outperform rating on Tesla stock, the equivalent of buy. His $215 price target is about 11% above its current price. Tesla stock has gained 57% in the year to date, while the S&P 500 SPX has gained 9.5%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news......»»

U.S. stocks opened mostly higher Tuesday, with gains led by the technology-heavy Nasdaq Composite, after a debt-ceiling deal was reached over the long holiday weekend honoring Memorial Day. The Nasdaq COMP was up 1.1% soon after the opening bell, while the S&P 500 SPX gained 0.5% and the Dow Jones Industrial Average DJIA traded down less than 0.1%, according to FactSet data, at last check. Tech shares rallied last week amid investor enthusiasm tied to artificial intelligence, with the Nasdaq advancing a fifth straight week in its longest win streak since the stretch ending in early February, according to Dow Jones Market Data. Meanwhile, the debt-ceiling agreement between President Joe Biden and House Speaker Kevin still needs to pass Congress.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news......»»

Goldman Sachs Group Inc. GS senior executive Dina Powell McCormick is joining merchant bank BDT & MSD Partners, The Wall Street Journal reported Tuesday. Citing people familiar with the situation, the newspaper reported that McCormick will take on the newly-created positions of vice chairman and president of global client services at BDT & MSD Partners. Powell has been the global head of the sovereign business for Goldman Sachs, as well as heading up the bank’s sustainability efforts and serving on the bank’s committees on management and client and business standards. BDT is run by ex-Goldman bankers Gregg Lemkau and Byron Trott. As one of the most senior women working on Wall Street, McCormick started working for Goldman Sachs in 2007 and left in 2017 to be deputy national security adviser for strategy under President Donald Trump. In 2018, she returned to Goldman Sachs.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news......»»

Citigroup said Wednesday it will pursue an IPO of its "Banamex" consumer, small business and middle-market banking operations in Mexico......»»

"If we are deprived of the Chinese market, we don’t have a contingency for that," Nvidia CEO Jensen Huang said recently......»»