Wall Street stock indexes fell in morning trading as investors prepared for a meeting of Federal Reserve policy makers and earnings from big technology companies.
- Cryptocurrencies were broadly lower, with bitcoin down 8.3% from its Friday 5 p.m. ET level, and crypto stocks were dropping along with them, including crypto exchange
and bitcoin miners
and
- An activist investor wants
to fire its chief executive and explore a sale after its stock plummeted more than 80% from its high, as growth slowed.
- Oil-field-services company
swung to a profit in the fourth quarter as revenue grew in North America and internationally.
- In a letter, Engine Capital urged
to run a sale process following Starboard Value’s bid, as activists remain unsatisfied with the pace of the department-store chain’s turnaround.
A Kohl’s Corp. department store in Lexington, Ky., Aug. 11, 2021.
Photo:
Luke Sharrett/Bloomberg News
- RBC Capital lifted its rating on
shares to “outperform” and gave the stock a price target of $60. It closed on Friday at $49.73.
- Activist hedge fund Trian Fund Management bought a stake in packaged-food and consumer-goods company
in the wake of its failed bid for part of GlaxoSmithKline.
- Reuters reported that U.K. telecom
is in talks with Iliad to combine their units in Italy.
-
IBM,
and
are among the companies reporting earnings after Monday’s close.
Chart of the Day
- The financial industry has spotted an opportunity to make money by helping people feel good about themselves. But these investments don’t do much to make the world a better place, writes James Mackintosh in the first in a series of Streetwise columns about funds guided by environmental, social and governance principles, known as ESG.
Write to James Willhite at james.willhite@wsj.com
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