InnoVage shares soared more than 30% on Wednesday after the senior healthcare provider reported a surprise second-quarter profit and boosted its long-term financial guidance, significantly outperforming Wall Street expectations.
CDW Corp. shares jumped Wednesday after the technology solutions provider reported fourth-quarter earnings and revenue that outpaced analyst expectations, signaling resilience despite a broader 12-month decline in its stock price.
AT&T is migrating its core network workloads to Amazon Web Services (AWS) as part of a sweeping modernization deal designed to integrate cloud scale with national fiber and satellite connectivity. The partnership, announced Wednesday, will see the telecommunications giant link AWS data centers with high-capacity fiber while leveraging Amazon’s satellite network to expand its service reach.
AbbVie Inc. outperformed Wall Street expectations in the fourth quarter, posting $16.62 billion in revenue as its newer immunology and neuroscience treatments cushioned the impact of biosimilar competition for its former top-selling drug, Humira.
Standard Bank Group has significantly expanded its ownership in Investec, securing a 5.95% stake in the financial services provider. The disclosure marks a notable increase from the bank's previous holding and highlights a strategic consolidation within the sector.
Super Micro Computer shares rallied in pre-market trading Wednesday after the IT infrastructure giant reported second-quarter revenue that more than doubled, significantly outpacing Wall Street expectations. The surge offers a reprieve for the stock, which has struggled over the past year despite the ongoing artificial intelligence infrastructure boom.
SiTime is exploring a potential acquisition of the timing operations of Renesas Electronics, a move that would consolidate key assets in the specialized semiconductor market. Both companies confirmed the discussions on Wednesday, though they noted that no final decision has been reached regarding the sale.
Denmark’s shipping giant A.P. Moller-Maersk is expected to report a sharp decline in year-over-year earnings this Thursday, despite a late-year surge in container volumes driven by Chinese exports. While the company benefited from a resilient 2024, analysts warn that a massive influx of new vessels and shifting trade routes through the Red Sea are creating a supply-demand imbalance that could push profits into the red by 2026.
DT Cloud Star Acquisition, a special purpose acquisition company, has entered into a definitive agreement to acquire regenerative medicine specialist PrimeGen US. The deal, which values the biotech firm at approximately $1.5 billion, is expected to close in the second half of 2024 and will transition the company to the public markets.
Boston Scientific shares plummeted more than 10% in premarket trading on Wednesday after the medical technology giant issued a cautious financial outlook for the coming year, eclipsing a fourth-quarter performance that exceeded Wall Street expectations for both revenue and profit.
Columbus McKinnon finalized its acquisition of Kito Crosby from KKR on Wednesday, immediately integrating key regional executives to lead its expanded global footprint. The move solidifies a unified leadership structure across the Americas, EMEA, and Asia Pacific following the high-stakes merger first announced in February.
Intapp Inc. shares tumbled in premarket trading Wednesday after the AI-driven dealmaking platform issued a fiscal outlook that failed to exceed high investor expectations, overshadowing a second-quarter earnings beat. Despite reporting adjusted profits and revenue that surpassed Wall Street estimates, the Palo Alto-based firm's projected growth for the remainder of the year aligned too closely with existing forecasts to sustain its recent momentum.
Belgium raised 6 billion euros ($7.09 billion) on Wednesday through a new 30-year government bond that drew more than 113 billion euros in orders. The issuance, maturing in June 2056, underscores a high appetite for long-dated sovereign debt as institutional investors move to lock in yields.
Tyler Technologies announced Wednesday that its board of directors has approved a new stock buyback program of up to $1 billion, signaling strong confidence in the firm’s long-term growth trajectory and market position.
Corpay has reached an agreement to sell its mobile parking payments business, PayByPhone, to private equity firm Lightyear Capital as part of a strategic realignment. The transaction, expected to close in the second quarter of 2024, marks a decisive step by the company to streamline its portfolio and sharpen its focus on the business-to-business sector.
Bunge Global reported a sharp decline in fourth-quarter net income as a dramatic rise in commodity costs overshadowed a 75% surge in revenue, even as the agricultural giant surpassed Wall Street’s adjusted earnings expectations.
Shares of laser technology manufacturer nLIGHT plummeted 10% in premarket trading Wednesday after the company priced a follow-on public offering of nearly 4 million shares at a discount to its previous market value.
Stanley Black & Decker reported a decline in fourth-quarter profit as high interest rates and trade tariffs dampened consumer appetite for home improvement projects. Despite beating adjusted earnings estimates, the industrial toolmaker struggled with a 1% dip in overall sales, reflecting a broader stagnation in the global remodeling market.
ATS Corp reported a significant surge in third-quarter profit as organic growth across key markets pushed revenues past both internal guidance and analyst expectations. The Ontario-based factory automation specialist posted a net income of C$30 million for the period ending Dec. 28, a sharp rise from the C$6.5 million recorded during the same quarter last year.
Boston Scientific reported a double-digit rise in fourth-quarter revenue and earnings on Wednesday, fueled by strong demand for cardiovascular devices, though shares retreated as its long-term forecast failed to satisfy high investor expectations.
Cognizant Technology Solutions is raising its quarterly dividend by 6.5% and targeting $1.6 billion in total shareholder returns this year, signaling confidence in its cash flow despite a shifting landscape for IT services.
Alamos Gold has unveiled an aggressive growth strategy to boost production by 46% over the next three years, aiming to reach an annual output of one million ounces by 2030. Despite a challenging 2025 marked by operational hurdles and severe weather, the Canadian miner expects a significant turnaround driven by key expansions in Ontario and Manitoba.
Lear Corp. reported a decline in fourth-quarter net income on Wednesday, even as rising vehicle production in China helped the automotive supplier exceed Wall Street’s revenue and adjusted earnings expectations.
Fuji Media Holdings shares fell on Wednesday after the Japanese broadcaster announced a ¥235 billion ($1.51 billion) share buyback, a move that facilitates the exit of veteran activist investor Yoshiaki Murakami. The massive repurchase agreement marks a truce between the media giant and Murakami-led funds, which had previously pressured the company for aggressive structural reforms and divestments.
Johnson Controls International PLC raised its full-year profit forecast following a robust first quarter, as a 39% surge in orders for its climate-control systems pushed earnings and revenue past Wall Street expectations.
T. Rowe Price Group reported a year-over-year increase in fourth-quarter profit on Wednesday, buoyed by a significant expansion in assets under management that helped the firm meet revenue expectations despite a narrow miss on adjusted earnings.
CME Group reported a fourth-quarter profit of $1.17 billion, driven by a significant uptick in global derivatives trading and record contract volumes. The exchange operator surpassed analyst expectations for adjusted earnings as heightened market activity pushed average daily volumes to 27.4 million contracts.
Aurora Cannabis Inc. reported a net loss of C$1.7 million for its fiscal third quarter, prompting a strategic pivot away from its lower-margin consumer business to prioritize the more profitable global medical segment. Despite the bottom-line dip compared to the previous year’s profit, the Edmonton-based producer beat analyst expectations on both revenue and adjusted earnings, signaling a stabilization in its core operations.
Toronto-based FirstService Corp. reported a slight dip in fourth-quarter profit on Wednesday, as a cooling property-services market offset gains in its residential segment, though adjusted earnings still managed to exceed analyst expectations.
Phillips 66 reported a significant jump in fourth-quarter earnings on Wednesday, buoyed by robust refining operations and strategic asset divestments in Europe. The Houston-based energy giant posted a net profit of $2.91 billion, comfortably exceeding analyst expectations as it concluded what leadership described as a transformative fiscal year.
