Flexport Buys Shopify Logistics Operations, Sets Up Rivalry With Amazon
Sale of Deliverr and 6 River Systems effectively ends its bid to run its own logistics operation for its merchant customers
Source: wsj.com
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PacWest, First Horizon, Qualcomm, Synaptics, SolarEdge, and More Stock Movers
PacWest says deposits are rising and that it's in ongoing discussions with partners and investors, First Horizon's merger deal with TB Bank is mutually terminated, Arconic will be bought by Apollo Global Management, and Paramount slashes its dividend.
Source: barrons.com
Shopify Surges on Surprise Profit, Plans to Cut 20% of Staff, and Sale of Logistics Business
Wall Street had expected the e-commerce software company to post a fiscal first-quarter loss.
Source: barrons.com
National Instruments, Tesla, Bed Bath & Beyond, and More Stock Market Movers
Emerson Electric reaches a deal to acquire National Instruments for $60 a share, American Airlines issues a lukewarm earnings outlook, and Tesla shares trade higher.
Source: barrons.com