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Canadian Stocks Extending Losses As Bond Yields Rise To 16-year High
It's turning out to be another weak outing for stocks on Bay Street, with investors pressing sales at several counters across the board on Tuesday, as U.S. Treasury yields rise to 16-year high amid worries about interest rates.
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U.S. Job Openings Unexpectedly Jump To 9.61 Million In August
Job openings in the U.S. unexpectedly showed a notable increase in the month of August, the Labor Department revealed in a report released on Tuesday. The Labor Department said job openings surged to 9.61 million in August from an upwardly revised 8.92 million in July.
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Tesla Re-launches RWD Model Y Variant In US At Cheaper Price
Tesla has re-launched the rear-wheel drive variant of Model Y in the U.S. at a bargain. This new model was introduced on Tesla's website overnight by replacing the all-wheel drive of Model Y that was discontinued last month. The EV maker had stopped selling the rear-wheel drive variant of Model Y in the U.S. in 2021, though it continued to sell it in China and Europe.
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Dollar Climbs After U.S. Job Openings Data
U.S. job openings data for August has been released at 10 am ET Tuesday. After the data, the greenback rose against its major rivals.
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Earthstone Energy Reports Expiration Of HSR Act Waiting Period For Permian Acquisition
Earthstone Energy, Inc. (ESTE) announced Tuesday the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR Act), as amended, with respect to the previously-announced agreement for Permian Resources Corp. (PR) to acquire all outstanding shares of Earthstone at an exchange ratio of 1.446 shares of Permian Resources for each Earthstone share.
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Swiss Franc Falls Against Majors
The Swiss franc declined against its major counterparts in the European session on Tuesday.
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GM, Ford To Furlough More Workers As UAW Strike Intensifies
General Motors and Ford Motor reportedly said they are furloughing 500 more workers at four plants hit by the ongoing strike by United Auto Workers or UAW union seeking better contract terms. GM plans to furlough 130 employees at its Parma, Ohio Metal Center and 34 at its Marion, Indiana Metal Center. Meanwhile, Ford would furlough 330 workers at its Chicago Stamping and Lima, Ohio Engine plants.
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UroGen Pharma Says FDA Approves Plan For Rolling NDA Submission For UGN-102 From January 2024
Biotech company UroGen Pharma Ltd. (URGN) announced Tuesday that it has reached agreement with the U.S. Food and Drug Administration (FDA) on plans for submission of a New Drug Application (NDA) for UGN-102 (mitomycin) for intravesical solution.
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Syneos Health Appoints Colin Shannon To Succeed Michelle Keefe As CEO
Biopharmaceutical solutions firm Syneos Health, Inc. (SYNH) announced Tuesday that Colin Shannon has been appointed Chief Executive Officer, effective immediately. Shannon succeeds Michelle Keefe, who will continue her tenure with Syneos Health as a key member of the Executive Leadership Team. Shannon and Keefe will remain on the Board of Directors.
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Boeing Delivers First Boeing 777 Freighter To Silk Way West Airlines
The Boeing Co. (BA) announced Tuesday that cargo carrier Silk Way West Airlines has taken delivery of the first Boeing 777 Freighter at Heydar Aliyev International Airport as part of its fleet modernization with five of these aircraft.
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Bay Street Likely To Open Weak
It's likely to be a weak start for Canadian shares on Tuesday, with commodities extending their losses, and European and Asian stocks posting losses amid concerns about global economic slowdown.
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IA American Holdings To Acquire Vericity In About $170 Mln All Cash Deal
iA Financial Corp., Inc., the holding company of iA Financial Group (IAG.TO), announced Tuesday it has entered into a definitive merger agreement whereby iA American Holdings, Inc., a subsidiary of the Company, will acquire Vericity, Inc. (VERY) for $11.43 per share or a total cash consideration of about $170 million. The deal will be funded by iA with cash in hand.
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ALX Oncology Reports Positive Interim Phase 2 Data From ASPEN-06 Trial Of Evorpacept For Cancer
Immuno-oncology company ALX Oncology Holdings Inc. (ALXO) announced Tuesday positive prespecified interim Phase 2 data from its ASPEN-06 clinical trial, a randomized multi-center international study evaluating evorpacept, the Company's CD47 blocking therapeutic, in combination with trastuzumab, CYRAMZA (ramucirumab) and paclitaxel for the treatment of patients with HER2-positive gastric/gastroesophageal junction (GEJ) cancer.
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