Financial News
Bankrupt crypto lender Celsius's CEO resigns External Link

Alex Mashinsky, chief executive at bankruptcy crypto lender Celsius, has submitted a letter of resignation from his post Tuesday, effective immediately. "I will continue to maintain my focus on working to help the community unite behind a plan that will provide the best outcome for all creditors - which is what I have been doing since the Company filed for bankruptcy," Mashinsky wrote in a statement. Following the news, Celsius's CEL token has lost more than 8%, according to CoinDesk data. Celsius in July filed for bankruptcy restructuring after it froze all user withdrawals and transfers about a month earlier, citing "extreme market conditions." Bitcoin is down more than 55% year-to-date.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Tue, 27 Sep 2022 14:39:24 GMT
West Virginia Online PowerBroker
Oracle to pay more than $23 million to settle SEC's bribery chargesExternal Link

Shares of Oracle Corp. rose 1.2% in morning trading Tuesday, after the Securities and Exchange Commission said the enterprise software company will pay more than $23 million to settle bribery charges. The SEC had charged Oracle for violating provisions of the Foreign Corrupt Practices Act (FCPA), saying subsidiaries in Turkey, the United Arab Emirates (UAE) and India created and used slush funds to bribe foreign officials in return for business between 2016 and 2019. As part of the settlement, Oracle agreed to "cease and desist" from violating the FCPA without admitting and denying the SEC's findings. The payment includes $8 million in disgorgement and a $15 million penalty. Oracle's stock has dropped 26.4% year to date through Monday, while the S&P 500 has lost 22.3%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Tue, 27 Sep 2022 13:39:37 GMT
West Virginia Online PowerBroker
CRISPR, Vertex say FDA granted rolling review to experimental CRISPR therapy External Link

CRISPR Therapeutics Inc. and Vertex Pharmaceuticals Inc. said Tuesday that the Food and Drug Administration granted a rolling review to the exagamglogene autotemcel, the therapy the companies are developing to treat sickle cell disease and transfusion-dependent beta thalassemia. CRISPR's stock was up 3.1% in premarket trading on Tuesday, while Vertex shares gained 1.1%. Vertex said it plans to a submit an application to the FDA in November, with plans to complete the submission in the first quarter of next year. "We continue to work with urgency to bring forward the first CRISPR therapy for a genetic disease," Nia Tatsis, Vertex's chief regulatory and quality office, said in a news release. CRISPR's stock is down 19.3%, while Vertex's stock has jumped 26.0% this year. The S&P 500 has declined 23.3% so far in 2022.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Tue, 27 Sep 2022 13:38:05 GMT
West Virginia Online PowerBroker
Dow opens 200 points higher as stocks bounce off 21-month lowsExternal Link

U.S. stocks opened sharply higher on Tuesday, bouncing off 21-month lows as they looked to snap a 5-day losing streak that had driven the Dow Jones Industrial Average into bear-market territory for the first time in more than two years. The S&P 500 advanced 38 points, or 1.1%, to 3,693. The Dow climbed 208 points, or 0.7%, to 29,469. The Nasdaq Composite rose 150 points, or 1.4%, to 10,953.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Tue, 27 Sep 2022 13:33:24 GMT
West Virginia Online PowerBroker
Novavax stock up 4.4% premarket after it says 1 million COVID vaccine doses now available in the U.K. External Link

Novavax Inc. said Tuesday that one million doses of its protein-based COVID vaccine Nuvaxovid are now available in the U.K. "With U.K. data showing that people infected with both COVID-19 and the flu are more than five times as likely to die compared to someone with no infection(1) , it is more important than ever to consider any vaccine offered to you by the National Health Service," said Stanley C. Erck, Novavax chief executive, in a statement. The Novavax vaccine uses more conventional technology than the mRNA-based ones developed by Pfizer , BioNTech and Moderna , that were first to be approved and used widely in the pandemic. Shares were up 4.4% premarket but have fallen 87% in the year to date, while the S&P 500 has fallen 23%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Tue, 27 Sep 2022 12:37:46 GMT
West Virginia Online PowerBroker