The S&P 500 (^GSPC) ticks down this morning, signaling another losing week for stocks amid elevated inflation and the Fed's ongoing interest rate cycle debate. Utility company Hawaiian Electric (HE) receives a stock upgrade from Wells Fargo analysts amid a class-action lawsuit over the fires that devastated Maui. Madison Square Garden Entertainment (MSGE) shares rise this morning despite reporting declining revenue in its fourth quarter. WeWork (WE) announces a 1-for-40 reverse stock split after reporting its struggles to stay in business last week. Yahoo Finance Live analyzes several trending stocks after this morning's opening bell.
The S&P 500 (^GSPC) ticks down this morning, signaling another losing week for stocks amid elevated inflation and the Fed's ongoing interest rate cycle debate. Utility company Hawaiian Electric (HE) receives a stock upgrade from Wells Fargo analysts amid a class-action lawsuit over the fires that devastated Maui. Madison Square Garden Entertainment (MSGE) shares rise this morning despite reporting declining revenue in its fourth quarter. WeWork (WE) announces a 1-for-40 reverse stock split after reporting its struggles to stay in business last week.
Yahoo Finance Live analyzes several trending stocks after this morning's opening bell.
CoinDesk
The latest price moves in bitcoin (BTC) and crypto markets in context for August 18, 2023. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.
American City Business Journals
Cleveland-Cliffs Inc. late Thursday said United Steelworkers had transferred the union’s right to bid on a proposed sale of United States Steel Corp. and its CEO sent a message to the union workforce in its latest attempt to prevail in the bidding process for the Pittsburgh-based steelmaker. “With this exclusive assignment, Cliffs is the only realistic buyer able to acquire the totality of U.S. Steel,” Cliffs (NYSE: CLF) said. Part of basic labor agreement reached between U.S. Steel (NYSE: X) and United Steelworkers in late 2022, requires the company to provide the union “the earliest practicable notification” on an offer or a decision to sell the corporate entity and/or facilities covered by the contract.
The Wall Street Journal
Behind VinFast Auto eye-popping valuation is an electric-car startup that has struggled to settle on a strategic direction, leading to a confusing rollout this year in the U.S. as it tries to build brand awareness. It currently sells one model in the U.S., an electric SUV called the VF8, which starts at about $46,000.
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