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US stocks drop after another stunning day of reversals as uncertainty reigns about Trump’s tariffs
NEW YORK (AP) — U.S. stocks dropped after a second day of stunning reversals. The S&P 500 fell 1.6% Tuesday after wiping out an early gain of 4.1%, which had it on track for its best day in years. That brought the index nearly 19% below its record set in February. The Dow Jones Industrial […]
Will the tariffs lead to a recession? Here’s how to know if we’re in one
WASHINGTON (AP) — President Donald Trump‘s sharp tariff hikes last week have sent the stock market into a tailspin, raised alarm bells among Wall Street executives, and heightened many economists’ worries that the U.S. could tip into recession. The tariffs, set to take effect Wednesday, include a 10% blanket duty on nearly all countries and additional import taxes on […]
Trump threatens more tariffs on China as global markets plunge
WASHINGTON (AP) — Undeterred by a panicked stock market, President Donald Trump threatened additional tariffs on China on Monday, raising fresh concerns that his drive to rebalance the global economy could intensify a financially destructive trade war. Trump’s threat came after China said it would retaliate against U.S. tariffs he announced last week. “If China does not withdraw its[...]
Atlantic Union completes $1.3B Sandy Spring purchase
Atlantic Union Bankshares has completed its $1.3 billion acquisition of Sandy Spring Bancorp, according to a Tuesday announcement by the parent company of Atlantic Union Bank. Each share of Sandy Spring common stock was converted into the right to receive 0.9 shares of Atlantic Union common stock, with cash paid in lieu of fractional shares. […]
Smithfield Foods files for IPO
Virginia’s Smithfield Foods announced Monday it has filed a registration statement to the U.S. Securities and Exchange Commission for its initial public offering. This is the first step toward the pork and packaged meats giant’s plan of selling common stock on the Nasdaq Global Select Market under the ticker symbol SFD. In November 2024, Smithfield’s […]
As bitcoin breaches $100K, MicroStrategy holdings, Saylor’s wealth surge
MicroStrategy, the Tysons-based tech company chaired by bitcoin whale Michael Saylor, has pursued bitcoin as an investment strategy since 2020. Now, it appears to have paid off as bitcoin breached the $100,000 threshold. Bitcoin rose above $100,000 per coin Wednesday night, after previously breaching $99,000 on Nov. 21. At 11:45 a.m. Thursday, bitcoins were trading […]
LL Flooring receives $194M acquisition proposal
Las Vegas-based holding company Live Ventures has submitted a proposal to acquire Henrico County-based hard-surface flooring retailer LL Flooring Holdings for approximately $194.4 million in cash. Live Ventures, which specializes in the retail and flooring industries, published Thursday the letter sent by its president and CEO, Jon Isaac, to the LL Flooring board the previous […]
Dominion Energy shareholders receive mini-tender offer
Dominion Energy is urging its shareholders to reject a “mini-tender” offer from TRC Capital Investment, the Richmond-based Fortune 500 utility announced Monday. Toronto-based investment firm TRC Capital offered to purchase up to 2 million shares of Dominion Energy’s common stock for $44 per share in cash, approximately 4.47% below the closing price of Dominion common […]
MicroStrategy buys $347M more bitcoin in Q2
MicroStrategy Inc. and its subsidiaries purchased about $347 million worth of bitcoin — approximately 12,333 units — from April 29 to June 27, according to the Tysons-based tech company’s June 28 filing with the U.S. Securities and Exchange Commission. Believed to be the world’s largest publicly traded corporate holder of bitcoin, MicroStrategy and its subsidiaries […]
Atlantic Union transferring stock listing to NYSE
Atlantic Union Bankshares Corp., the Richmond-based holding company for Atlantic Union Bank, announced Friday it is transferring the listing of its common stock and depositary shares from the Nasdaq to the New York Stock Exchange. The bank’s first day of trading on the NYSE is Jan. 18. “We are excited to join the NYSE alongside […]
Ferguson parent company moves primary listing to NYSE
The U.K.-based parent company of Newport News plumbing, HVAC and industrial product distributor Ferguson Enterprises LLC has transferred its primary stock listing from the London Stock Exchange to the New York Stock Exchange, Ferguson PLC announced Thursday. “We are excited to achieve this key milestone as our listing structure is now fully aligned with our […]
Genworth launches IPO for mortgage insurance subsidiary
Nearly five months after it was first announced, Henrico County-based Fortune 500 insurer Genworth Financial Inc. on Monday launched an initial public offering for its private mortgage insurance subsidiary, Raleigh, North Carolina-based Enact Holdings Inc. Genworth Holdings Inc. (GHI), a wholly owned subsidiary of Genworth Financial, is offering 13.31 million shares of common stock in […]
