What the Inflation Act’s Corporate Taxes Will Mean for the Stock Market

Text size Some individual companies could be hit hard by the tax increases. Dreamstime Washington is about to ratchet up the tax burden on companies, but the stock market doesn’t seem concerned, for good reason. The moves will barely dent aggregate corporate profits, although individual companies will take a hit. The Inflation Reduction Act, approved … Read more

CVS Plans to Bid for Signify Health

CVS Health is seeking to buy Signify Health according to people familiar with the matter, as the drugstore and insurance giant looks to expand in home-health services. Signify Health is exploring strategic alternatives including a sale, The Wall Street Journal reported this past week. Initial bids are due this coming week and CVS is planning … Read more

Judge in Twitter, Elon Musk Case Known for Quick Work

The judge who will decide whether Elon Musk should have to buy Twitter Inc. has a record of quickly deciding urgent cases over imperiled corporate deals and has ordered buyers to close deals they wanted to ditch. Chancellor Kathaleen McCormick, a 42-year-old who loves Notre Dame football and co-founded a charter school that her children … Read more

Fuel cell-powered truck maker Hyzon’s stock suffers record plunge after accounting questions raise delisting fears

Shares of Hyzon Motors Inc. were suffering a record plunge towards a record low Friday, after the maker of fuel cell-powered trucks disclosed a “myriad of issues,” including accounting regularities that will cause it to miss the filing deadline for second-quarter results. That prompted a number of analysts to back away from their bullish stances, … Read more

After Making Money In A Bear Market, David Einhorn Is Shorting Elon Musk With A Long Twitter Bet

David Einhorn’s Greenlight Capital generated a return of 8.4% for the second quarter, bringing its year-to-date return to 13.2% at a time when most other hedge funds are languishing with negative returns. In his second-quarter letter to investors, Einhorn emphasized that they achieved their positive result despite being net long in a bear market. Elon … Read more

Pfizer in Advanced Talks to Buy Global Blood Therapeutics for About $5 Billion

Pfizer is in advanced talks to buy Global Blood Therapeutics the maker of a recently approved drug for sickle-cell disease, for about $5 billion, in the latest move by the drug giant to bolster its portfolio and pipeline. Pfizer is aiming to seal a deal for GBT in the coming days, according to people familiar … Read more

Elon Musk Alleges Twitter Fraud in Countersuit Filed in Delaware

Elon Musk accused Twitter of fraud, saying the company misrepresented the condition of its business and key metrics about the users on its platform before he agreed in April to acquire the company for $44 billion. Mr. Musk said in a countersuit made public Thursday that he decided to terminate the merger agreement after learning … Read more

AMC Entertainment Plan’s ‘APE’ Preferred Stock Dividend. Shares Slide After Earnings.

Text size Investors will receive a preferred share for each share of common stock they own. Jeenah Moon/Bloomberg AMC Entertainment is finally giving the “apes” what they want. The movie-theater company paired its second-quarter earnings report with news that it’s giving shareholders a special dividend of AMC Preferred Equity Units. The AMC preferred shares will … Read more

Glencore Profit Doubles on Energy-Market Volatility

Commodities giant Glencore PLC said profit more than doubled in the first six months of the year, boosted by significant market volatility stirred up by macroeconomic and geopolitical events—a theme it expects to continue for markets through the rest of 2022. The mining and trading company on Thursday reported a jump in first half adjusted … Read more

Elon Musk’s response to Twitter lawsuit to be made public by Friday

DOVER, Del. — Elon Musk’s answer to Twitter’s lawsuit over his attempt to back out of a $44 billion deal to buy the social media company will be made public by Friday evening at the latest, a judge ruled Wednesday. Attorneys for Musk wanted to file a public version of their answer and counterclaims in … Read more