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Apple stock falls 1.6% to pace the Dow’s premarket losers
May. 12, 2021 at 9:20 a.m. ET

Apple stock falls 1.6% to pace the Dow’s premarket losers

Fed’s Clarida: If inflation pressures are not transitory we will use our tools to bring inflation to 2% goal
May. 12, 2021 at 9:19 a.m. ET

Fed’s Clarida: If inflation pressures are not transitory we will use our tools to bring inflation to 2% goal

Fed’s Clarida says it may take time for supply to rise to level of demand as economy reopens
May. 12, 2021 at 9:17 a.m. ET

Fed’s Clarida says it may take time for supply to rise to level of demand as economy reopens

Fed’s Clarida says he was surprised by the April inflation data
May. 12, 2021 at 9:16 a.m. ET

Fed’s Clarida says he was surprised by the April inflation data

May. 12, 2021 at 9:16 a.m. ET

Meet Elise Stefanik, favored to replace Liz Cheney as the No. 3 Republican in the House

5 things to know about the New York Representative being endorsed by former President Trump

May. 12, 2021 at 9:13 a.m. ET

MGM Resorts’ Las Vegas Strip gaming floors can return to 100% occupancy, no social distancing

MGM Resorts International said Wednesday that it was approved by the Nevada Gaming Control Board to return to 100% occupancy and no social distancing on its gaming floors inside its properties on the Las Vegas Strip. The company said the waiver for its properties, which only applies to gaming floors, was granted given MGM’s efforts to vaccinate its workforce. The 80% occupancy restrictions and 3-feet social distancing requirements are still in effect outside of the gaming floors. The properties allowed to resume full operations on its gaming floors include Bellagio Resort Casino, MGM Grand Hotel Casino, Mandalay Bay Resort and Casino, Park MGM, The Mirage Hotel Casino, New York-New York Hotel Casino, Luxor Hotel and Casino, Excalibur Hotel Casino and ARIA Resort Casino. “This is yet another major milestone in Las Vegas’ incredible recovery and a testament to the importance of vaccination in the effort to fully reopen our community,” said MGM Chief Executive Bill Hornbuckle. “We will continue working to vaccinate as many people as possible and remain vigilant with health and safety protocols designed to protect our employees, guests and community.” MGM’s stock, which fell 0.9% in premarket trading, has soared 180.1% over the past 12 months through Tuesday, while the SP 500 has rallied 44.7%.

MGM Resorts OK’d to return to 100% occupancy, no social distancing on gaming floors in Las Vegas
May. 12, 2021 at 9:04 a.m. ET

MGM Resorts OK’d to return to 100% occupancy, no social distancing on gaming floors in Las Vegas

May. 12, 2021 at 9:03 a.m. ET

Shares in travel-and-tourism giant Tui sink while London stocks lead European rebound

Tui reported a $1.8 billion loss in the six months to the end of March, as the continuation of travel restrictions due to the COVID-19 pandemic left airplanes on the ground and hotel rooms empty.

May. 12, 2021 at 9:01 a.m. ET

Arthur J. Gallagher stock slips after public stock offering, used to help fund purchase of Willis Tower assets

Shares of Arthur J. Gallagher Co. fell 0.7% in premarket trading Wednesday, after the insurance brokerage and consulting services company announced a public offering of 9 million shares of common stock. At Tuesday’s stock closing price of $148.46, the offering, which represents about 4.6% of the shares outstanding, would be valued at $1.34 billion. The company plans to use the proceeds from the offering to fund a part of the deal announced earlier in which it buys certain Willis Towers Watson PLC’s assets for $3.57 billion. Willis Towers and merger partner Aon PLC said the sale of the assets resolves questions raised by the European Commission and other jurisdictions related to the companies’ merger, which was originally announced in March 2020. Aon’s stock edged up 0.1% and Willis Tower shares slipped 0.1%, while futures for the SP 500 dropped 0.7%.

Fed’s Clarida says one-time increases in prices are likely to have only transitory effects on inflation
May. 12, 2021 at 9:00 a.m. ET

Fed’s Clarida says one-time increases in prices are likely to have only transitory effects on inflation

May. 12, 2021 at 9:00 a.m. ET

Fed’s Clarida expresses more concern about weak labor market than higher inflation

Federal Reserve Vice Chairman Richard Clarida indicated Wednesday he is more worried about the weak labor market than higher inflation.

May. 12, 2021 at 8:51 a.m. ET

$259 a day to rent a car? Here’s how to rent one this summer without blowing your budget

Travelers typically book flights or hotels first — and then a rental car. But that strategy won’t work this year.

May. 12, 2021 at 8:47 a.m. ET

U.S. inflation climbs in April to the highest level in 13 years, CPI shows

Consumer prices rose sharply again in March and drove the rate of inflation to the highest level in 13 years, signaling greater stress on the economy as businesses grapple with supply shortages that are raising the cost of many goods and services.

Trex stock price target raised to $103 from $81 at B. Riley
May. 12, 2021 at 8:46 a.m. ET

Trex stock price target raised to $103 from $81 at B. Riley

Arcturus Therapeutics stock price target cut to $23 from $35 at B. Riley
May. 12, 2021 at 8:45 a.m. ET

Arcturus Therapeutics stock price target cut to $23 from $35 at B. Riley

Novavax stock price target cut to $286 from $365 at B. Riley
May. 12, 2021 at 8:45 a.m. ET

Novavax stock price target cut to $286 from $365 at B. Riley

Catabasis Pharmaceuticals started at buy with $6 stock price target at Ladenburg Thalmann
May. 12, 2021 at 8:44 a.m. ET

Catabasis Pharmaceuticals started at buy with $6 stock price target at Ladenburg Thalmann

FuboTV stock price target cut to $32 from $35 at Oppenheimer
May. 12, 2021 at 8:44 a.m. ET

FuboTV stock price target cut to $32 from $35 at Oppenheimer

May. 12, 2021 at 8:42 a.m. ET

Global-e to go public after IPO priced at top of range, valuing company at more than $3.5 billion

Global-e Online Ltd. is set to go public Wednesday, after the direct-to-consumer, cross-border ecommerce platform company’s initial public offering priced at $25 a share, at the top of the expected range of between $23 and $25 a share, to value the Israel-based company at about $3.56 billion. The company sold 15.0 million shares in the IPO to raise $375.0 million. The stock is expected to start trading on the Nasdaq under the ticker symbol “GLBE.” Goldman Sachs, Morgan Stanley and Jefferies were the lead underwriters. The company reported a net profit of $725,000 on revenue of $136.4 million in 2020, after a loss of $7.5 million on revenue of $65.9 million in 2019. The company is looking to go public at a time that the Renaissance IPO ETF has tumbled 25.5% over the past three months while the SP 500 has gained 5.5%.

May. 12, 2021 at 8:35 a.m. ET

Biden to meet with McConnell, McCarthy as he presses big spending plans

President Joe Biden on Wednesday is due to sit down with the top four congressional leaders, as the Democratic president ramps up a push for infrastructure and other domestic spending that has so far failed to gain Republican support.

Yearly advance in core CPI rises to 26-year high of 3% from 1.6%
May. 12, 2021 at 8:34 a.m. ET

Yearly advance in core CPI rises to 26-year high of 3% from 1.6%

U.S. dollar up 0.1% at 108.77 Japanese yen
May. 12, 2021 at 8:34 a.m. ET

U.S. dollar up 0.1% at 108.77 Japanese yen

Euro down 0.5% versus dollar at $1.2096
May. 12, 2021 at 8:34 a.m. ET

Euro down 0.5% versus dollar at $1.2096

Dollar strenghens after CPI data
May. 12, 2021 at 8:33 a.m. ET

Dollar strenghens after CPI data

May. 12, 2021 at 8:33 a.m. ET

House Republicans poised to oust Liz Cheney from leadership post

House Republicans look set to vote Wednesday in favor of ejecting Rep. Liz Cheney of Wyoming from her leadership role, in a move that has been in the works for weeks following her criticism of former President Donald Trump.