NEW YORK (AP) — U.S. stock indexes reached more records after tech companies talked up how much artificial intelligence is boosting their results. The S&P 500 climbed 0.6% Wednesday to add to what looks to be one of its best years of the millennium. The Dow Jones Industrial Average gained 0.7%, while the Nasdaq composite added 1.3% to its own record. Salesforce pulled the market higher after highlighting its artificial-intelligence offering for customers. Marvell Technology jumped even more after saying it’s seeing strong demand from AI. Treasury yields eased, while bitcoin climbed after President-elect Donald Trump nominated a crypto advocate to head the Securities and Exchange Commission. THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below. NEW YORK (AP) — U.S. stock indexes are rising toward more records Wednesday after tech companies talked up how much of a boost they're getting from artificial intelligence . The S&P 500 climbed 0.5% to add to what looks to be one of its best years of the millennium. It’s on track to set an all-time high for the 56th time this year after coming off 10 gains in the last 11 days . The Dow Jones Industrial Average was up 252 points, or 0.6%, with an hour remaining in trading, while the Nasdaq composite was adding 1.2% to its own record. Salesforce helped pull the market higher after delivering stronger revenue for the latest quarter than analysts expected, though its profit fell just short. CEO Mark Benioff highlighted the company’s artificial-intelligence offering for customers, saying “the rise of autonomous AI agents is revolutionizing global labor, reshaping how industries operate and scale.” The stock of the company, which helps businesses manage their customers, rose 9.3%. Marvell Technology jumped even more after delivering better results than expected, up 23.2%. CEO Matt Murphy said the semiconductor supplier is seeing strong demand from AI and gave a forecast for profit in the upcoming quarter that topped analysts’ expectations. They helped offset a 9.8% drop for Foot Locker, which reported profit and revenue that fell short of analysts’ expectations. CEO Mary Dillon said the company is taking a more cautious view, and it cut its forecasts for sales and profit this year. Dillon pointed to how keen customers are for discounts and how soft demand has been outside of Thanksgiving week and other key selling periods. Retailers overall have offered mixed signals about how resilient U.S. shoppers can remain. Their spending has been one of the main reasons the U.S. economy has avoided a recession that earlier seemed inevitable because of high interest rates brought by the Federal Reserve to crush inflation. But shoppers are now contending with still-high prices and a slowing job market . This week’s highlight for Wall Street will be Friday’s jobs report from the U.S. government, which will show how many people employers hired and fired last month. A narrower report released on Wednesday morning may have offered a preview of it. The report from ADP suggested employers in the private sector increased their payrolls by less last month than economists expected. Hiring in manufacturing was the weakest since the spring, according to Nela Richardson, chief economist at ADP. The report strengthened traders’ expectations that the Fed will cut its main interest rate again when it meets in two weeks. The Fed began easing its main interest rate from a two-decade high in September, hoping to offer more support for the job market. The central bank had appeared set to continue cutting rates into next year, but the election of Donald Trump has scrambled Wall Street’s expectations somewhat. Trump’s preference for higher tariffs and other policies could lead to higher economic growth and inflation , which could alter the Fed’s plans . Fed Chair Jerome Powell said Wednesday that the central bank can afford to cut its benchmark rate cautiously because inflation has slowed significantly from its peak two years ago and the economy remains sturdy. A separate report on Wednesday said health care, finance and other businesses in the U.S. services sector are continuing to grow, but not by as much as before and not by as much as economists expected. One respondent from the construction industry told the survey from the Institute for Supply Management that the Fed’s rate cuts have not pulled down mortgage rates as much as hoped yet. Plus “the unknown effect of tariffs clouds the future.” In the bond market, the yield on the 10-year Treasury fell to 4.18% from 4.23% late Tuesday. On Wall Street, Campbell’s fell 6% for one of the S&P 500’s sharper losses despite increasing its dividend and reporting a stronger profit for the latest quarter than analysts expected. Its revenue fell short of Wall Street’s expectations, and the National Football League’s Washington Commanders hired Campbell’s CEO Mark Clouse as its team president. Campbell’s said Mick Beekhuizen, its president of meals and beverages, will become its 15th CEO following Clouse’s departure. Gains for airline stocks helped offset that drop after JetBlue Airways said it saw stronger bookings for travel in November and December following the presidential election. It said it’s also benefiting from lower fuel prices, as well as lower costs due to improved on-time performance. JetBlue jumped 8.3%, while Southwest Airlines climbed 2.8%. In stock markets abroad, South Korea’s Kospi sank 1.4% following a night full of drama in Seoul. President Yoon Suk Yeol was facing possible impeachment after he suddenly declared martial law on Tuesday night, prompting troops to surround the parliament. Yoon accused pro-North Korean forces of plotting to overthrow one of the world’s most vibrant democracies. The martial law declaration was revoked about six hours later. Samsung Electronics fell 0.9% in Seoul. The country’s financial regulator said it was prepared to deploy 10 trillion won ($7.07 billion) into a stock market stabilization fund at any time, the Yonhap news agency reported. In the crypto market , bitcoin climbed back above $97,000 after Trump said he would nominate Paul Atkins , a cryptocurrency advocate, to chair the Securities and Exchange Commission. ___ AP Writers Matt Ott and Zimo Zhong contributed. Stan Choe, The Associated PressDURHAM, N.H. (AP) — Kinkead Dent threw for 246 yards and ran for another 56 yards and a touchdown as UT Martin rolled to a 41-10 win over New Hampshire in an FCS first-round game on Saturday. The Skyhawks (9-4) advance to face unbeaten and top-seeded Montana State (12-0) in the second round. Javascript is required for you to be able to read premium content. Please enable it in your browser settings.
Algert Global LLC acquired a new position in Theravance Biopharma, Inc. ( NASDAQ:TBPH – Free Report ) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 105,609 shares of the biopharmaceutical company’s stock, valued at approximately $851,000. Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TBPH. Dimensional Fund Advisors LP boosted its stake in shares of Theravance Biopharma by 38.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 330,181 shares of the biopharmaceutical company’s stock valued at $2,800,000 after purchasing an additional 91,679 shares during the last quarter. Marshall Wace LLP boosted its stake in Theravance Biopharma by 83.6% in the second quarter. Marshall Wace LLP now owns 297,499 shares of the biopharmaceutical company’s stock valued at $2,523,000 after acquiring an additional 135,426 shares during the last quarter. GSA Capital Partners LLP boosted its stake in Theravance Biopharma by 12.6% in the third quarter. GSA Capital Partners LLP now owns 229,780 shares of the biopharmaceutical company’s stock valued at $1,852,000 after acquiring an additional 25,691 shares during the last quarter. Bank of Montreal Can grew its holdings in Theravance Biopharma by 141.0% during the 2nd quarter. Bank of Montreal Can now owns 160,138 shares of the biopharmaceutical company’s stock worth $1,414,000 after acquiring an additional 93,702 shares during the period. Finally, Squarepoint Ops LLC bought a new stake in shares of Theravance Biopharma during the 2nd quarter valued at $986,000. 99.10% of the stock is owned by institutional investors. Wall Street Analysts Forecast Growth Several equities analysts have recently issued reports on TBPH shares. StockNews.com lowered Theravance Biopharma from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th. HC Wainwright reissued a “buy” rating and issued a $15.00 target price on shares of Theravance Biopharma in a research note on Monday, September 16th. Leerink Partners downgraded Theravance Biopharma from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $15.00 to $10.00 in a report on Tuesday, August 6th. TD Cowen cut their price target on shares of Theravance Biopharma from $10.00 to $9.00 and set a “hold” rating on the stock in a research note on Tuesday, August 6th. Finally, Leerink Partnrs downgraded Theravance Biopharma from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $13.75. Theravance Biopharma Trading Down 1.8 % Shares of TBPH opened at $9.25 on Friday. Theravance Biopharma, Inc. has a 12 month low of $7.44 and a 12 month high of $11.71. The firm has a fifty day simple moving average of $8.69 and a 200 day simple moving average of $8.71. The stock has a market capitalization of $454.82 million, a price-to-earnings ratio of -9.16 and a beta of 0.25. Theravance Biopharma ( NASDAQ:TBPH – Get Free Report ) last released its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.16). Theravance Biopharma had a negative net margin of 78.18% and a negative return on equity of 24.79%. The company had revenue of $16.87 million during the quarter, compared to analyst estimates of $16.11 million. During the same period in the prior year, the firm posted ($0.17) EPS. As a group, research analysts predict that Theravance Biopharma, Inc. will post -1.06 earnings per share for the current fiscal year. Insiders Place Their Bets In related news, SVP Rhonda Farnum sold 4,000 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $9.00, for a total value of $36,000.00. Following the completion of the transaction, the senior vice president now directly owns 322,743 shares of the company’s stock, valued at approximately $2,904,687. This trade represents a 1.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website . Insiders own 6.90% of the company’s stock. Theravance Biopharma Company Profile ( Free Report ) Theravance Biopharma, Inc is a diversified biopharmaceutical company primarily focused on the discovery, development and commercialization of organ-selective medicines. Its purpose is to pioneer a new generation of small molecule drugs designed to better meet patient needs. Its research is focused in the areas of inflammation and immunology. In pursuit of its purpose, Theravance Biopharma applies insights and innovation at each stage of its business and utilizes its internal capabilities and those of partners around the world. See Also Want to see what other hedge funds are holding TBPH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Theravance Biopharma, Inc. ( NASDAQ:TBPH – Free Report ). Receive News & Ratings for Theravance Biopharma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Theravance Biopharma and related companies with MarketBeat.com's FREE daily email newsletter .
NEW YORK (AP) — U.S. stock indexes reached more records after tech companies talked up how much artificial intelligence is boosting their results. The S&P 500 climbed 0.6% Wednesday to add to what looks to be one of its best years of the millennium. The Dow Jones Industrial Average gained 0.7%, while the Nasdaq composite added 1.3% to its own record. Salesforce pulled the market higher after highlighting its artificial-intelligence offering for customers. Marvell Technology jumped even more after saying it’s seeing strong demand from AI. Treasury yields eased, while bitcoin climbed after President-elect Donald Trump nominated a crypto advocate to head the Securities and Exchange Commission. THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below. NEW YORK (AP) — U.S. stock indexes are rising toward more records Wednesday after tech companies talked up how much of a boost they're getting from artificial intelligence . The S&P 500 climbed 0.5% to add to what looks to be one of its best years of the millennium. It’s on track to set an all-time high for the 56th time this year after coming off 10 gains in the last 11 days . The Dow Jones Industrial Average was up 252 points, or 0.6%, with an hour remaining in trading, while the Nasdaq composite was adding 1.2% to its own record. Salesforce helped pull the market higher after delivering stronger revenue for the latest quarter than analysts expected, though its profit fell just short. CEO Mark Benioff highlighted the company’s artificial-intelligence offering for customers, saying “the rise of autonomous AI agents is revolutionizing global labor, reshaping how industries operate and scale.” The stock of the company, which helps businesses manage their customers, rose 9.3%. Marvell Technology jumped even more after delivering better results than expected, up 23.2%. CEO Matt Murphy said the semiconductor supplier is seeing strong demand from AI and gave a forecast for profit in the upcoming quarter that topped analysts’ expectations. They helped offset a 9.8% drop for Foot Locker, which reported profit and revenue that fell short of analysts’ expectations. CEO Mary Dillon said the company is taking a more cautious view, and it cut its forecasts for sales and profit this year. Dillon pointed to how keen customers are for discounts and how soft demand has been outside of Thanksgiving week and other key selling periods. Retailers overall have offered mixed signals about how resilient U.S. shoppers can remain. Their spending has been one of the main reasons the U.S. economy has avoided a recession that earlier seemed inevitable because of high interest rates brought by the Federal Reserve to crush inflation. But shoppers are now contending with still-high prices and a slowing job market . This week’s highlight for Wall Street will be Friday’s jobs report from the U.S. government, which will show how many people employers hired and fired last month. A narrower report released on Wednesday morning may have offered a preview of it. The report from ADP suggested employers in the private sector increased their payrolls by less last month than economists expected. Hiring in manufacturing was the weakest since the spring, according to Nela Richardson, chief economist at ADP. The report strengthened traders’ expectations that the Fed will cut its main interest rate again when it meets in two weeks. The Fed began easing its main interest rate from a two-decade high in September, hoping to offer more support for the job market. The central bank had appeared set to continue cutting rates into next year, but the election of Donald Trump has scrambled Wall Street’s expectations somewhat. Trump’s preference for higher tariffs and other policies could lead to higher economic growth and inflation , which could alter the Fed’s plans . Fed Chair Jerome Powell said Wednesday that the central bank can afford to cut its benchmark rate cautiously because inflation has slowed significantly from its peak two years ago and the economy remains sturdy. A separate report on Wednesday said health care, finance and other businesses in the U.S. services sector are continuing to grow, but not by as much as before and not by as much as economists expected. One respondent from the construction industry told the survey from the Institute for Supply Management that the Fed’s rate cuts have not pulled down mortgage rates as much as hoped yet. Plus “the unknown effect of tariffs clouds the future.” In the bond market, the yield on the 10-year Treasury fell to 4.18% from 4.23% late Tuesday. On Wall Street, Campbell’s fell 6% for one of the S&P 500’s sharper losses despite increasing its dividend and reporting a stronger profit for the latest quarter than analysts expected. Its revenue fell short of Wall Street’s expectations, and the National Football League’s Washington Commanders hired Campbell’s CEO Mark Clouse as its team president. Campbell’s said Mick Beekhuizen, its president of meals and beverages, will become its 15th CEO following Clouse’s departure. Gains for airline stocks helped offset that drop after JetBlue Airways said it saw stronger bookings for travel in November and December following the presidential election. It said it’s also benefiting from lower fuel prices, as well as lower costs due to improved on-time performance. JetBlue jumped 8.3%, while Southwest Airlines climbed 2.8%. In stock markets abroad, South Korea’s Kospi sank 1.4% following a night full of drama in Seoul. President Yoon Suk Yeol was facing possible impeachment after he suddenly declared martial law on Tuesday night, prompting troops to surround the parliament. Yoon accused pro-North Korean forces of plotting to overthrow one of the world’s most vibrant democracies. The martial law declaration was revoked about six hours later. Samsung Electronics fell 0.9% in Seoul. The country’s financial regulator said it was prepared to deploy 10 trillion won ($7.07 billion) into a stock market stabilization fund at any time, the Yonhap news agency reported. In the crypto market , bitcoin climbed back above $97,000 after Trump said he would nominate Paul Atkins , a cryptocurrency advocate, to chair the Securities and Exchange Commission. AP Writers Matt Ott and Zimo Zhong contributed.
Reminder to Join Olin Corporation's Investor Day on December 12, 2024iShares U.S. Energy ETF (NYSEARCA:IYE) Shares Sold by Avior Wealth Management LLC