Ex-CEO of California investment companies charged with fraud

LOS ANGELES — A man who ran two California-based investment companies and frequently appeared as a TV financial news analyst was charged Wednesday with securities fraud for allegedly bilking clients out of millions of dollars, federal prosecutors said. James Arthur McDonald Jr., 50, was charged with a single fraud count and could face up to … Read more

Inflation Reduction Act to have ‘negative impact’ on S&P 500 companies’ profits, analysts say

The reviews keep coming in for the Inflation Reduction Act, and some analysts have now calculated what the Democratic Party’s big climate, healthcare and tax package could mean for S&P 500 companies. “Based on our analysis, the negative impact of the IRA Act on S&P 500 EPS is estimated at ~$4-5 in 2023,” said a … Read more

AstraZeneca, Eli Lilly and Roche among pharmaceutical companies upgraded for high returns on R&D investments, analysts say

Shares in pharmaceutical giants including Roche, Novo Nordisk, Eli Lilly and AstraZeneca were little changed Wednesday despite getting a ratings boost from analysts at Berenberg, who cited respective returns on research and development investment and the ability of those companies to withstand pressure coming from recent US drug price reform. London-listed AstraZeneca AZN, -1.70% AZN, … Read more

Opinion: Investors have rained money on unprofitable companies — one with $32 billion in losses. Now any of these 15 stocks could become the biggest ‘unicorn’ failure ever.

David Rush holds a Guinness world record for cramming 100 candles into his mouth and lighting them. Sandeep Singh Kaila spins a basketball on a toothbrush for a record 1 minute and 8.15 seconds. Neville Sharp emitted a 112.4 decibel burp. If those zany stunts can make it into the Guinness Book of World Records, … Read more

4 stocks of streaming-related companies drop 5% or more as investors lose confidence that the Fed might ease up

A variety of consumer discretionary and communications stocks lost ground on Monday, with companies providing streaming and related services standing out as investors seemed to accept that there is no reason to expect the Federal Reserve to slow its efforts to cool the economy and fight inflation. Shares of Warner Brothers Discovery Inc. WBD, -7.43% … Read more

Alibaba stock gains after earnings as company says trends are improving

Shares of Alibaba Group Holding Ltd. closed up 1.8% Thursday after the Chinese e-commerce company topped expectations with its latest financials and indicated that business trends improved as the June quarter wore on. The company posted net income of RMB22.7 billion ($3.4 billion), or RMB8.51 per American depositary share, compared with RMB45.1 billion, or RMB16.38 … Read more

Block stock drops after earnings, as Square’s parent company swings to a loss

Shares of Block Inc. fell 6% in after-hours trading Thursday after the payment-technology company swung to a loss in an earnings report that seemed to cause some controversy about whether the company actually beat or missed expectations on several key metrics. Block SQ, +1.85%, which somewhat recently changed its corporate name from Square, posted a … Read more

AMTD Digital is worth more than 480 of the S&P 500 companies after stock rockets over 3,000% in 7 days

Early investors in AMTD Digital Inc. have basically won the lottery, as the Hong Kong-based digital business developer’s stock has zoomed 3.165% higher over the past seven days. The HKD stock, -28.77% pulled back 16.6% in very volatile midday trading Wednesday — it has already been halted nine times for volatility — putting it on … Read more

Comcast, Charter stocks downgraded as Barclays says companies are ‘likely past peak growth’

In the wake of negative broadband subscriber growth at Comcast Corp. and Charter Communications Inc. last week, Barclays analyst Kannan Venkateshwar is taking a more cautious view on the cable sector. He downgraded Comcast shares CMCSA, -0.47% to equal weight from overweight Monday, while lowering his rating on Charter’s stock CHTR, -1.13% to underweight from … Read more