Prism MarketView

November 21, 2024 at 9:13 am

Ex-Billionaire Bill Hwang Gets 18 Years for Archegos Collapse That Rocked Wall Street

Bill Hwang, the founder of Archegos Capital Management, has been sentenced to 18 years in prison for orchestrating one of the largest financial frauds in U.S. history. The collapse of Archegos in 2021 resulted in over $10 billion in losses for major Wall Street banks and wiped out more than $100 billion in market value…. [Read More]

November 21, 2024 at 8:34 am

Stocks making the biggest moves premarket: Snowflake, Nvidia, BJ’s Wholesale and more

Here’s a quick update on key companies making waves in the market: Snowflake saw a staggering rise in shares, soaring over 21% thanks to encouraging third-quarter results and promising guidance. With adjusted earnings of 20 cents per share on a revenue of $942 million, the company surpassed the LSEG’s forecast. Palo Alto Networks, a cybersecurity… [Read More]

November 20, 2024 at 1:42 pm

Forte Biosciences Secures $53 Million to Fast-Track Breakthrough Autoimmune Therapy; Stock Soars 137%

Forte Biosciences, Inc. (NASDAQ: FBRX), a clinical-stage biopharmaceutical company specializing in autoimmune diseases, has raised $53 million in an oversubscribed private placement. The funds will support the continued development of FB102, Forte’s leading therapeutic candidate targeting a broad range of autoimmune and related conditions. The financing drew participation from top-tier healthcare institutional investors, including OrbiMed,… [Read More]

November 20, 2024 at 11:57 am

Comcast Spins Off Major Cable Networks As Pressures From Streaming Services Impact Traditional Cable Providers

Today Comcast (CMCSA) announced plans to spin off the majority of its cable television networks into a new publicly traded company. The spin-off, temporarily named “SpinCo,” will include popular channels like USA Network, CNBC, MSNBC, Oxygen, E!, SYFY, and Golf Channel. However, Comcast will retain key NBCUniversal assets, including NBC’s broadcast network, NBC News, NBC… [Read More]

November 20, 2024 at 11:29 am

Target Misses the Bullseye on Sales and Earnings in Q3, Shares Fall ~20%

In its third quarter, Target (TGT) reported financials that saw healthy growth in traffic, with a 2.4% increase in comparable sales traffic representing over 10M incremental transactions. However, this traffic growth was largely offset by a decline in average ticket, as consumers continued to spend cautiously, particularly in discretionary categories like home and apparel. Overall,… [Read More]

November 20, 2024 at 11:02 am

BioStem Technologies Seeks to Expand Wound Care Portfolio with Letter of Intent to Acquire ProgenaCare Products

BioStem Technologies Inc. (BSEM), a leading MedTech company, announced today the signing of a Letter of Intent to acquire commercial-stage products and development technologies from ProgenaCare Global LLC. ProgenaCare is a medical device company specializing in innovative biomaterial-based solutions for advanced, cost-effective wound care. The acquisition includes ProgenaMatrix and revyve Antimicrobial Wound Gel, further demonstrating… [Read More]

November 20, 2024 at 10:54 am

Why the Uber-Wealthy Skip the Bugatti and Choose These 8 Car Brands Instead

When it comes to cars, the wealthy aren’t necessarily driving what you might expect. While luxury models like Bentleys or Rolls-Royces are often seen as symbols of wealth, research consistently shows that many affluent individuals favor practicality, reliability, and long-term value over flashy rides. A study from Experian Automotive revealed that 61% of high-income households… [Read More]

November 20, 2024 at 9:03 am

Stocks making the biggest moves premarket: Target, Dolby Labs, Nio, Netflix and more

Here are the companies making waves in the market before the market opens. Target The Minneapolis-based retailer saw a drop of over 17% in shares after it did not meet the predicted third-quarter earnings and revenue estimates. This led the company to cut down its annual guidance, just after three months of increasing the same…. [Read More]

November 19, 2024 at 2:47 pm

NextGen Tech and AI: Symbiotic Provides Strong Q4 Financial Results, Up ~30%

In its fourth quarter, Symbotic (SYM) delivered strong financial results, with revenue beating consensus of $470.2M as it reported Q4 revenue of $577M, reflecting solid progress across the 44 systems in the process of deployment. The company completed a record number of system deployments in the quarter, helping contribute to $1.8Bn in full-year revenue. Symbotic… [Read More]

November 19, 2024 at 2:08 pm

C3.ai Leverages Microsoft Cloud Collaboration to Capture Enterprise Market

Microsoft (MSFT) has expanded its partnership with artificial intelligence firm C3.ai (AI) to provide them with Azure’s cloud computing services. This afternoons news, AI’s share prices experienced a notable surge. The alliance, revealed at Microsoft’s Ignite cloud computing conference, is aimed at corporate clients. C3.ai’s CEO, Thomas Siebel, stated that the strategic alliance enhances the… [Read More]

November 19, 2024 at 12:26 pm

Welcome to Wall St: Jersey Mike’s Gets Fitted for Patagonia Vest After Being Acquired by Blackstone

Known as one of the fastest-growing sandwich chains, Jersey Mike’s, is set to be acquired by asset management behemoth Blackstone in a move aimed at accelerating the company’s growth both domestically and internationally. The deal involves private equity funds managed by Blackstone acquiring a majority stake in Jersey Mike’s. According to both companies, the partnership… [Read More]

November 19, 2024 at 12:20 pm

Former Biotech CEO and Trump Appointee Vivek Ramaswamy Slams FDA Bureaucracy for Stifling Innovation and Driving Up Drug Costs

If former biotech entrepreneur Vivek Ramaswamy has his way, things will look a lot different at the FDA in the next four years. Ramaswamy and tech mogul Elon Musk have been appointed by President-elect Donald Trump to lead the newly formed Department of Government Efficiency (DOGE). This unconventional department, set to operate outside traditional government… [Read More]

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