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Order Reprints Text size Abu Dhabi’s sovereign-wealth fund Mubadala Investment recently sold 3 million shares of Virgin Galactic. Courtesy of Virgin Galactic One of Virgin Galactic Holding’s largest shareholders, Abu Dhabi sovereign-wealth fund Mubadala Investment, reduced its stake in the aerospace and space-travel company. Virgin Galactic (ticker: SPCE) stock has rocketed 28.2% so far in January, boosted by buzz for the sector after Cathie Wood’s ARK Invest filed documents to start a new space exchange-traded fund. In comparison, the S&P 500 index, ...

Davis Turner/Getty Images Bank of America shares slid in early trading as the bank’s fourth-quarter earnings results topped analysts’ expectations but came in well below the year-earlier figure. The quarterly profit for the bank totaled $5.5 billion, down from $7 billion in the year-ago quarter. Earnings per share were 59 cents a share, beating Wall Street’s expectations of 55 cents. Bank of America’s (ticker: BAC) revenue came in at $20.1 billion, short of the $20.6 billion forecast by analysts surveyed by FactSet, and 10% below the last three months of 2019. Bank ...

Like its food-delivery peers such as Uber Eats, owned by Uber Technologies (UBER), Deliveroo has enjoyed a massive boost in sales from the Covid-19 pandemic, with millions of housebound people ordering in meals. However, Deliveroo initially suffered at the beginning of the pandemic because its partner restaurants themselves were closed. The CMA said that the company met the criteria for a “failing firm” before its finances rebounded in April as restaurants reopened. What’s new. Deliveroo said on Sunday that it had secured $180 million after the completion of a funding round from...

Order Reprints Text size Loop Capital analyst Ananda Baruah repeated a Buy rating and boosted his target price on Apple stock to $155 from $131. Justin Sullivan/Getty Images Apple stock received a thumbs up Friday from Loop Capital analyst Ananda Baruah, who repeated his Buy rating on the tech giant and boosted his target price to $155 from $131. The call comes ahead of the company’s upcoming December quarter earnings report, due after the close on Jan. 27. Baruah writes in a research note that he expects a “really big year” for Apple (ticker: AAPL), and t...

After making big gains of more than 35% in November following positive Covid vaccine news and developments, the cruise stocks have cooled off over the past month. In a research note Friday, Woronka attributed that turnaround “to multiple reasons, with perhaps the most important being a bit less optimism of late about the timing of a return to sailings out of U.S. ports.” “It’s unlikely, in our view, that entire fleets will be back in the water much before year end,” he wrote. “The critical question is, at what point can enough capacity return such that current (elevated) cash burn...