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Market today: Dow Jones rises

8 February 2022
3037
1 min.
16
Market today: Dow Jones rises

US stock indices on Tuesday

The S&P 500 and Nasdaq Composite oscillated between losses and gains, while the Dow Jones Industrial Average jumped, led by Amgen, after the biotech giant announced a $6 billion share buyback.

In news of the shakeout, Peloton suspended CEO John Foley amid turmoil at the company.

He will move to the role of executive chairman, to be replaced by Barry McCarthy. The company has also cut its revenue forecast to $3.8bn from $4.8bn. In addition, the cycling giant will cut 2,800 jobs.

The company has been rumoured to be a takeover target in recent days, with multiple reports suggesting it has up to five possible suitors, including Amazon, Nike, Apple, Disney and Sony. In other deal news, Nvidia and ARM SoftBank have cancelled their record $80 billion merger, citing "serious regulatory concerns". GlobalNY.biz wrote about this today.

Facebook is also in the spotlight after board member Peter Thiel announced he plans to step down.

As for earnings news, Pfizer shares fell after the company forecast sales of its COVID-19 vaccine to be around $32 billion, slightly below estimates.

On the economic front, keep a close eye on Thursday's consumer price report as it is expected to rise to 7.3% versus 7% in December.

Persons3 and Companies13 in the news

Chief Executive Officer of Peloton
1 place
Co-founder of the Peloton
2 place
Co-founder of PayPal
3 place
ARM
ARM
2 place
SoftBank Group
3 place
NVIDIA
4 place
Sony
5 place
Nike, Inc.
6 place
Nasdaq
7 place
Dow Jones
8 place
Pfizer
10 place
Meta (Facebook)
11 place
Apple
12 place
Amazon
13 place
Section:
Source foto:
flickr.com

Discussion

Rating companies
Tesla
14 Mention
Instagram
13 Mention
JP Morgan Chase
12 Mention
Walt Disney Company
12 Mention
Ford Motor Company
10 Mention
Netflix
10 Mention
Amazon
9 Mention

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Alena Potapova

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