watch now VIDEO 8:21 08:21 Treasury Sec. Bessent: Senate should proceed with Warsh hearings for Fed chair despite Powell probe Squawk Box The Senate should move to advance Kevin Warsh , President Donald Trump 's nominee for Federal Reserve chairman, even as a federal criminal investigation into current chair Jerome Powell continues, Treasury Secretary Scott Bessent said Friday. Bessent, in an inte...
watch now VIDEO 8:21 08:21 Treasury Sec. Bessent: Senate should proceed with Warsh hearings for Fed chair despite Powell probe Squawk Box The Senate should move to advance Kevin Warsh , President Donald Trump 's nominee for Federal Reserve chairman, even as a federal criminal investigation into current chair Jerome Powell continues, Treasury Secretary Scott Bessent said Friday. Bessent, in an interview on CNBC's " Squawk Box ," said he believes after speaking this week to Republicans on the Senate Banking Committee that they "are going to proceed" with a nomination hearing. "I think it's important to get the hearings underway, and I think we have an agreement to do that," he said. This is breaking news. Please refresh for updates.
Maddie Meyer/Getty Images News Moderna ( MRNA ) reported better-than-expected Q4 2025 financials on Friday and reaffirmed its 2026 growth target even as the vaccine maker suffered a major regulatory setback for its flu shot candidate last week when the U.S. FDA declined its review. Earlier this week, the Cambridge, Massachusetts-based biotech disclosed that the FDA issued a Refusal-to-File letter ...
Maddie Meyer/Getty Images News Moderna ( MRNA ) reported better-than-expected Q4 2025 financials on Friday and reaffirmed its 2026 growth target even as the vaccine maker suffered a major regulatory setback for its flu shot candidate last week when the U.S. FDA declined its review. Earlier this week, the Cambridge, Massachusetts-based biotech disclosed that the FDA issued a Refusal-to-File letter indicating that the agency will not review its biologics license application for its flu vaccine candidate mRNA-1010. However, the company reiterated plans to record up to 10% of 2026 revenue growth compared to last year, when its topline plunged ~40% YoY to $1.9B, with the majority of sales driven by its COVID-19 vaccine. However, Moderna ( MRNA ) managed to contain its costs as its R&D expenses and SG&A costs fell ~31% YoY and ~13% YoY to roughly $3.1B and $1.0B, respectively, while its net loss dropped ~22% YoY to $2.8B. Reiterating plans to continue cost reduction activities, the company projected approximately $3.0B and $1.0B in R&D and SG&A expenses for 2026, respectively, and estimated $5.5B - $6.0B in year-end cash and investments compared to $5.8B a year ago. During 2025, “we lowered our annual operating expenses by approximately $2.2 billion, significantly surpassing our cost-reduction targets," CEO Stéphane Bancel said. For Q4 2025, the company reported $678M in revenue, beating the consensus by $54.1M, with a ~30% YoY decline, which indicated its lower COVID-19 vaccine sales volumes. Meanwhile, MRNA's GAAP loss per share fell ~28% YoY to $2.11, mainly driven by a 31% YoY decline in R&D expenses, reflecting, among other things, its cost reduction activities and plans to halt large Phase 3 respiratory programs. More on Moderna Moderna: FDA RTF Derails mRNA-1010 And Reignites The Sell Case Moderna: Analyzing The January Rally And The Road Ahead (Rating Upgrade) Moderna Vs. Novavax: 2 Pandemic Vaccine Pioneers - Which Offers Better Value Today? Moderna GAAP EPS of -...
Morgan Stanley ’s asset management arm is sounding out investors about shifting a portfolio of India assets from an existing fund into a new vehicle, according to people familiar with the matter. The firm plans to move eight healthcare-focused investments into a so-called continuation vehicle, the people said, asking not to be identified because the conversations are private. It’s seeking to raise...
Morgan Stanley ’s asset management arm is sounding out investors about shifting a portfolio of India assets from an existing fund into a new vehicle, according to people familiar with the matter. The firm plans to move eight healthcare-focused investments into a so-called continuation vehicle, the people said, asking not to be identified because the conversations are private. It’s seeking to raise $500 million for the new India fund strategy and has approached investors on the plan, the people added. The assets include Omega Hospitals and RG Scientific Enterprises Pvt. , one of the people said. Morgan Stanley Investment Management invested in Omega in 2024 with a minority ownership and bought a controlling stake in RG Scientific that same year. A media representative for Morgan Stanley declined to comment. Morgan Stanley Investment Management, a $1.9 trillion manager, invested in the assets through its alternative arm, Morgan Stanley Private Equity Asia. The continuation fundraising comes as more investment firms look for exit routes beyond initial public offerings and mergers. Globally, the secondary market rose 48% to $240 billion in 2025 from a year earlier, according to a report by Jefferies Financial Group Inc.
Meituan warned of its biggest annual loss since at least 2021, underscoring the extent to which a brutal price-based war in food delivery is eroding margins at China’s largest internet companies. The Beijing-based firm expects to record a loss of between 23.3 billion yuan ($3.4 billion) and 24.3 billion yuan for 2025, according to an exchange filing . That’s a stark reversal from a profit of 35.8 ...
Meituan warned of its biggest annual loss since at least 2021, underscoring the extent to which a brutal price-based war in food delivery is eroding margins at China’s largest internet companies. The Beijing-based firm expects to record a loss of between 23.3 billion yuan ($3.4 billion) and 24.3 billion yuan for 2025, according to an exchange filing . That’s a stark reversal from a profit of 35.8 billion yuan in 2024. It booked a loss of more than 23.5 billion yuan in 2021. Citing “unprecedentedly intense” industry competition in 2025, Meituan said it ramped up spending across its ecosystem — from marketing and promotions to incentives for couriers and merchants, while expanding overseas. The investments weighed on profitability for the domestic commerce segment, and the loss-making trend is expected to continue into the first quarter, the company said in the filing. Meituan has been fighting for market share against other Chinese tech giants, including Alibaba Group Holding Ltd. and JD.com Inc. , that are spending billions of yuan on discounts and subsidies to drive deeper into the meal-delivery and quick-commerce market despite weaker consumer demand. Meituan has been forced to respond in kind, depressing margins even as its growth slows. The subsidy-driven price war in China’s online food-delivery market has drawn scrutiny from the country’s top antitrust body, which last month launched an investigation into competition practices in the industry, citing concerns they are distorting the real economy. Read More: China Antitrust Body Probes Intense Competition in Food Delivery In the Friday statement, Meituan said its operations remain stable and that the group has sufficient cash to support the steady development of its businesses, adding that it is “firmly opposed to irrational competition.” The company said it expected to publish finalized annual results by the end of March.
A poll has found differences between men and women’s motivations for watching romance films together, with 20% of men hoping it may result in sex As groups of women block-booking rows of seats with friends to see Wuthering Heights look likely to help propel Emerald Fennell’s adaptation to the top of the Valentine’s weekend box office, a new survey suggests men are amenable to watching romantic mov...
A poll has found differences between men and women’s motivations for watching romance films together, with 20% of men hoping it may result in sex As groups of women block-booking rows of seats with friends to see Wuthering Heights look likely to help propel Emerald Fennell’s adaptation to the top of the Valentine’s weekend box office, a new survey suggests men are amenable to watching romantic movies at home – although their motivations for doing so are mixed. A poll of 2,000 film fans on behalf of the wall-to-wall romance movie Freeview channel Great Romance has found that the top three reasons given by men for watching a romance film are feeling closer to their partner (36%), wanting a quiet life (21%) and thinking it might lead to sex (20%). Twenty per cent said that such films “remind me of the magic of when we met”, while half that number said such an activity was “low effort but still feels like bonding”. Continue reading...
On Feb. 12, Soleus Capital Management, L.P. disclosed a buy of 629,398 shares of Celcuity (NASDAQ:CELC) in a Securities and Exchange Commission (SEC) filing Celcuity is a clinical-stage biotechnology firm focused on innovative cancer diagnostics and targeted therapies, leveraging its CELsignia platform to identify and address specific cellular drivers of cancer. The company’s strategy centers on a...
On Feb. 12, Soleus Capital Management, L.P. disclosed a buy of 629,398 shares of Celcuity (NASDAQ:CELC) in a Securities and Exchange Commission (SEC) filing Celcuity is a clinical-stage biotechnology firm focused on innovative cancer diagnostics and targeted therapies, leveraging its CELsignia platform to identify and address specific cellular drivers of cancer. The company’s strategy centers on advancing Gedatolisib and companion diagnostics to address unmet needs in breast and ovarian cancer treatment. Soleus Capital Management sent a bullish signal to the market with its significant purchase of Celcuity shares. Owning 1.2 million shares on Sept. 30, the firm boosted its position to over 1.8 million shares by the end of the year. Continue reading
NoDerog Keurig Dr Pepper ( KDP ) announced it will expand its board of directors. Effective March 2, independent directors Amie Thuener and William "Bill" Newlands will join the board. Thuener brings 30 years of finance and accounting experience to the beverage company's board and will serve on its Audit & Finance Committee. Having joined Alphabet ( GOOG ) in 2013, she currently holds the position...
NoDerog Keurig Dr Pepper ( KDP ) announced it will expand its board of directors. Effective March 2, independent directors Amie Thuener and William "Bill" Newlands will join the board. Thuener brings 30 years of finance and accounting experience to the beverage company's board and will serve on its Audit & Finance Committee. Having joined Alphabet ( GOOG ) in 2013, she currently holds the position of Vice President, Corporate Controller, and Chief Accounting Officer, with responsibility for global external financial reporting and accounting policy. During her tenure at Alphabet ( GOOG ), Thuener has had responsibility for finance teams for Alphabet's Other Bets, including Verily, Waymo, and others, as well as M&A finance. Newlands brings more than 40 years of experience in the beverage alcohol and consumer packaged goods industries to the board and will serve on its Nominating & Governance Committee. His track record of driving significant business transformation and building leading global brands includes a stint of over seven years as the CEO of Constellation Brands ( STZ ) for just over seven years. Newlands will be stepping down as president and CEO of Constellation Brands ( STZ ) and retiring from the board in April. The board additions were noted to support Keurig Dr Pepper's ( KDP ) transformation and value creation agenda as it approaches the closing of the JDE Peet's acquisition in early Q2 and progresses over the following quarters towards a separation into two independent companies. More on Keurig Dr Pepper Keurig Dr Pepper: On Hold Until The M&A Dust Settles Keurig Dr. Pepper: Acquisition Of JDE Isn't That Bad Beverage blockbuster: Keurig Dr Pepper gets closer to its transformative deal with JDE Peet's Keurig Dr Pepper launches offer for JDE Peet's shares Seeking Alpha’s Quant Rating on Keurig Dr Pepper
The Czech central bank said that core inflation remained elevated in January and continued to represent a reason for monetary policy caution. While headline price growth is likely to stay below target this year, the core measure, which excludes volatile prices, will remain close to its current levels, at least at the start of the year, according to the central bank. “Despite the very favorable dev...
The Czech central bank said that core inflation remained elevated in January and continued to represent a reason for monetary policy caution. While headline price growth is likely to stay below target this year, the core measure, which excludes volatile prices, will remain close to its current levels, at least at the start of the year, according to the central bank. “Despite the very favorable developments in headline inflation, elevated core inflation is a reason for a cautious monetary policy approach,” Petr Sklenar, the central bank’s chief economist, said in a statement Friday. “Persistently high services inflation shows that price developments in the domestic economy have not yet fully normalized.” Core inflation, which shows the underlying demand pressures in the economy, came in at 2.7% last month, slightly undershooting the central bank’s 2.8% forecast. Prices for services rose 4.5% from the previous year, while growth of the closely-watched cost of owner-occupied housing, also called the imputed rent, accelerated to 5.1% year and reached the fastest pace in three years. Read more: Czech Central Bankers Saw Domestic Inflation Risks, Minutes Show Headline price growth slowed to 1.6% mainly due to a decline in energy prices as well as a continued “favorable trend” in food costs, the central bank said.
On Wednesday, Cathie Wood-led Ark Invest made a bold move by significantly increasing its position in Robinhood Markets Inc. (NASDAQ:HOOD), acquiring over 433,000 shares across multiple ETFs despite the stock’s 8% drop following a 38% plunge in crypto revenue. Ark also purchased shares of Figma Inc. (NYSE: FIG) on the same day and sold a substantial amount of Airbnb Inc. (NASDAQ: ABNB) stock. The ...
On Wednesday, Cathie Wood-led Ark Invest made a bold move by significantly increasing its position in Robinhood Markets Inc. (NASDAQ:HOOD), acquiring over 433,000 shares across multiple ETFs despite the stock’s 8% drop following a 38% plunge in crypto revenue. Ark also purchased shares of Figma Inc. (NYSE: FIG) on the same day and sold a substantial amount of Airbnb Inc. (NASDAQ: ABNB) stock. The Robinhood Trade ARK Blockchain & Fintech Innovation ETF (BATS:ARKF), ARK Innovation ETF (BATS:ARKK)
- Cash position of US$195 million as of December 31, 2025, before adjustment for post quarter events - - Topline data readout from the Phase 2 study evaluating HLP004 in generalized anxiety disorder (“GAD”) expected in Q1 2026 -
- Cash position of US$195 million as of December 31, 2025, before adjustment for post quarter events - - Topline data readout from the Phase 2 study evaluating HLP004 in generalized anxiety disorder (“GAD”) expected in Q1 2026 -
Listen on the go! A daily podcast of Wall Street Breakfast will be available by 8:00 a.m. on Seeking Alpha , iTunes , Spotify . Getty Images Seeking Alpha News Quiz Up for a challenge? Test your knowledge on the biggest events in the investing world over the past week. Take the latest Seeking Alpha News Quiz and see how you stack up against the competition. Good morning! Here's the latest in trend...
Listen on the go! A daily podcast of Wall Street Breakfast will be available by 8:00 a.m. on Seeking Alpha , iTunes , Spotify . Getty Images Seeking Alpha News Quiz Up for a challenge? Test your knowledge on the biggest events in the investing world over the past week. Take the latest Seeking Alpha News Quiz and see how you stack up against the competition. Good morning! Here's the latest in trending: More data: Markets will get a fresh, though slightly delayed, view of inflation for the first month of 2026 with the Bureau of Labor Statistics' Consumer Price Index . AI disruption: Here's the next sector to get hammered amid increasing fears related to AI upheavals that have exploded in recent weeks. Epstein fallout: Goldman Sachs' ( GS ) top lawyer will resign after emails between her and the convicted sex offender indicated that the two had a close relationship . Regulatory whiplash It's not easy being an American automaker nowadays, or for much of the past two decades. Besides increasing competition from China, massive legacy costs, chip shortages, and the Great Recession, carmakers have had to navigate ever-changing rules and regulations, particularly surrounding electric vehicles and emissions standards. Another wrench has now been thrown in the works, following what the Trump administration called the "single largest deregulatory action in U.S. history." Quote: "Under the process just completed by the EPA, we are officially terminating the so-called 'endangerment finding,' a disastrous Obama-era policy that severely damaged the American auto industry and drove up prices for American consumers," President Trump declared. "This action will eliminate over $1.3T in regulatory costs and help bring car prices tumbling down dramatically. They had computers all over the place trying to save half an ounce of fuel [while] we have fuel for the next 500 to 1,000 years under our feet." "Financial bloodbath" are the words to describe the current state of the auto industry. S...
Hong Kong’s accounting regulator urged auditors handling initial public offerings to assess whether they have sufficient resources and expertise, warning that a surge in listing activity could put pressure on quality. In an open letter, the Accounting and Financial Reporting Council said that some auditors of public interest entities serving as reporting accountants for Hong Kong IPO applicants ha...
Hong Kong’s accounting regulator urged auditors handling initial public offerings to assess whether they have sufficient resources and expertise, warning that a surge in listing activity could put pressure on quality. In an open letter, the Accounting and Financial Reporting Council said that some auditors of public interest entities serving as reporting accountants for Hong Kong IPO applicants have taken on exceptionally high listing workloads alongside existing mandates. That raised concerns that they may not have sufficient expertise and resources to meet professional standards without compromising quality. “Public interest entity auditors are strongly urged to immediately undertake a thorough evaluation of their resources and critically assess whether they possess the necessary competencies and capabilities to deliver high-quality audits for both their existing and new IPO engagements,” the watchdog said in a statement. It added that it will require auditors to submit updated lists of ongoing IPO mandates, plans for new engagements and details of their resources. Regulators have been increasing scrutiny over the quality of Hong Kong’s IPOs amid the city’s booming capital market, with first-time share sales coming off a four-year high in 2025 and already off to the busiest-ever start of a year . Last month, the Securities and Futures Commission stepped up warnings to investment banks over filing sloppy applications for share sales, saying a growing number of teams at the most active sponsors are unfamiliar with regulatory requirements and lack experience and resources to handle applications. Banker Shortage Pressures Hong Kong Firms Handling IPO Boom China AI Rush Fuels Record January for Hong Kong Stock Listings Hong Kong Regulator Ramps Up Warnings Over Poor IPO Filings
Check out the companies making headlines before the bell. DraftKings — Shares fell about 17% after the sports betting operator's 2026 revenue forecast disappointed. In the fourth quarter, DraftKings earned 25 cents per share on revenue of $1.99 billion. That was better than the LSEG estimate of 15 cents per share in earnings and $1.98 billion in revenue. However, the company expects revenue this y...
Check out the companies making headlines before the bell. DraftKings — Shares fell about 17% after the sports betting operator's 2026 revenue forecast disappointed. In the fourth quarter, DraftKings earned 25 cents per share on revenue of $1.99 billion. That was better than the LSEG estimate of 15 cents per share in earnings and $1.98 billion in revenue. However, the company expects revenue this year to be between $6.5 billion and $6.9 billion, far below the consensus estimate of $7.31 billion. Roku — Shares rose 15% after Rosenblatt hiked its price target for the TV streaming platform to $118 from $106, implying 42% upside from Thursday's close. Rivian Automotive — The electric truck manufacturer surged 20%. The company said it sees 2026 vehicle deliveries ranging from 62,000 to 67,000 units , which would be higher by 47% to 59% compared to 2025. Fourth-quarter adjusted losses came in at 54 cents per share, narrower than the LSEG consensus for a loss of 68 cents per share. Revenue of $1.29 billion topped the estimate of $1.26 billion. Applied Materials — The California-based semiconductor equipment company jumped 11% on the back of blowout earnings results. Applied Materials reported adjusted earnings of $2.38 per share on revenue of $7.01 billion, while analysts polled by LSEG expected earnings of $2.20 per share on revenue of $6.87 billion. Expedia Group — Shares of the online travel agency slid more than 6% after Expedia identified "emerging AI-powered platforms" in its earnings presentation as a potential risk, even as it posted fourth quarter results that beat expectations. Expedia earned $3.78 per share, on an adjusted basis, on revenues of $3.55 billion. That was better than the earnings of $3.36 per share on revenues of $3.42 billion expected by analysts polled by LSEG. Steel and aluminum stocks — The stocks traded lower after the Financial Times reported that U.S. President Donald Trump will roll back tariffs on the goods. The president put trade levies of...
Its human partners said the flirty, quirky GPT-4o was the perfect companion – on the eve of Valentine’s Day, it’s being turned off for good. How will users cope? Brandie plans to spend her last day with Daniel at the zoo. He always loved animals. Last year, she took him to the Corpus Christi aquarium in Texas, where he “lost his damn mind” over a baby flamingo. “He loves the color and pizzazz,” Br...
Its human partners said the flirty, quirky GPT-4o was the perfect companion – on the eve of Valentine’s Day, it’s being turned off for good. How will users cope? Brandie plans to spend her last day with Daniel at the zoo. He always loved animals. Last year, she took him to the Corpus Christi aquarium in Texas, where he “lost his damn mind” over a baby flamingo. “He loves the color and pizzazz,” Brandie said. Daniel taught her that a group of flamingos is called a flamboyance. Daniel is a chatbot powered by the large language model ChatGPT . Brandie communicates with Daniel by sending text and photos, talks to Daniel while driving home from work via voice mode. Daniel runs on GPT-4o, a version released by OpenAI in 2024 that is known for sounding human in a way that is either comforting or unnerving, depending on who you ask. Upon debut, CEO Sam Altman compared the model to “AI from the movies” – a confidante ready to live life alongside its user. Continue reading...
The Colombian icon joined the MLS side in a short-term deal with an eye toward fitness for the 2026 World Cup Two weeks ago, few could’ve expected that the most notable international acquisition of the MLS offseason would be made by Minnesota United. The team’s marquee import until last week was Finland striker Teemu Pukki, with honorable mentions for Colombian playmaker Darwin Quintero and ex-Por...
The Colombian icon joined the MLS side in a short-term deal with an eye toward fitness for the 2026 World Cup Two weeks ago, few could’ve expected that the most notable international acquisition of the MLS offseason would be made by Minnesota United. The team’s marquee import until last week was Finland striker Teemu Pukki, with honorable mentions for Colombian playmaker Darwin Quintero and ex-Porto midfielder Ibson. The Loons aren’t known for paying sizable transfer fees, and their wage bill last year was the league’s fifth-smallest. Continue reading...
Funtay/iStock via Getty Images Aluminum prices fell early Friday following a report that President Trump plans to scale back some tariffs on the metal after imposing duties of up to 50% last year. The Trump administration reportedly is reviewing the list of products affected by the levies and plans to exempt some items as trade officials believed the tariffs were hurting consumers, the Financial T...
Funtay/iStock via Getty Images Aluminum prices fell early Friday following a report that President Trump plans to scale back some tariffs on the metal after imposing duties of up to 50% last year. The Trump administration reportedly is reviewing the list of products affected by the levies and plans to exempt some items as trade officials believed the tariffs were hurting consumers, the Financial Times reported. Aluminum futures ( LMAHDS03:COM ) on the London Metal Exchange recently traded -1.8% to $3,040/metric ton, reversing gains from the previous session, when news of a looming smelter closure in Mozambique heightened supply concerns. The most-active aluminum contract on the Shanghai Futures Exchange closed daytime trading -1.8% at 23,195 yuan/ton ($3,355); the exchange will be closed from February 15 for China's nine-day Lunar New Year break and reopen on February 24. Alcoa ( AA ) -4.8% and Century Aluminum ( CENX ) -10.4% in U.S. pre-market trading. "Macro-driven risk-off sentiment and broad profit-taking continue to unwind the strong early-year rally" in aluminum, ING commodities strategist Ewa Mathney said in a note. "News that the U.S. may roll back parts of its aluminum tariff regime has introduced an extra layer of uncertainty for trade flows and pricing." More on Alcoa and Century Aluminum Alcoa's Post-Q4 Earnings Dip Offers A Buying Opportunity Alcoa: Don't Get Short-Sighted By Aluminum Price Surge Century Aluminum: Don't Count On Tariffs But On Its Market Position
As Hong Kong braces itself for the Lunar New Year tourist surge, and perhaps long-awaited evidence of a return to the tourism heydays of 2017 and 2018, spare a thought for the US and mounting evidence of a “Trump slump” in US tourism this year. While UN Tourism data shows that international tourism was up by 4 per cent globally in 2025 – back to levels not seen since the Covid-19 crash in internat...
As Hong Kong braces itself for the Lunar New Year tourist surge, and perhaps long-awaited evidence of a return to the tourism heydays of 2017 and 2018, spare a thought for the US and mounting evidence of a “Trump slump” in US tourism this year. While UN Tourism data shows that international tourism was up by 4 per cent globally in 2025 – back to levels not seen since the Covid-19 crash in international travel – the US stood alone worldwide, with at least a 4 per cent fall. US President Donald...