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Apr 21, 2021 8:12 PM UTC Producers of metals and other raw materials rose as investors rotated back into economically cyclical areas and commodities. Copper futures rose as investors bet that the metal s role in the transition to sustainable energy would stir demand in the U.S. But shares of copper mining giant Freeport McMoRan fell after analysts at brokerage UBS cut their ratings on the company, arguing that predictions of a commodities supercycle were misplaced because of muted demand growth in China, the world s largest copper consumer. Write to Rob Curran at rob.curran@dowjones.com (END) Dow Jones Newswires
Provided by Dow Jones Health-care companies rose as a rebound in risk appetite spurred demand for the biotech niche. The iShares Nasdaq Biotech Index exchange-traded fund slipped into negative territory for the year-to-date earlier in April, but was deep in the green on the day, gaining roughly 2% on the session. Pfizer has identified in Mexico and Poland the first confirmed instances of counterfeit versions of the Covid-19 vaccine it developed with BioNTech, the latest attempt by criminals trying to exploit the world-wide vaccination campaign. Europe s health agency said a warning should be added to the product information of the Johnson & Johnson Covid-19 vaccine that unusual blood clots are a very rare possible side effect, but said the benefits of taking the shot outweigh the risks.
Provided by Dow Jones Shares of technology companies rose after mixed earnings. Shares of streaming service Netflix tumbled after its earnings report hinted at a saturated market. Dutch semiconductor equipment maker ASML Holding boosted its revenue projection for 2021 due to a significant increase in demand, and said that net profit for the first quarter of the year soared on net sales that came in ahead of its forecasts. Shares of UiPath rallied, advancing by roughly 25%, after the robotic-software company s initial public offering raised about $1.3 billion. Lina Khan, a Big Tech critic nominated to a seat on the Federal Trade Commission, appeared on track to win confirmation after a hearing showed she has broad Democratic support. After initial wobbles on regulatory fears in the wake of the presidential election, shares of controversial Big Tech companies such as Facebook and Alphabet have hit new heights recently, with investors betting that
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Apr 19, 2021 8:56 PM UTC Shares of technology companies fell as a selloff of cryptocurrencies and related stocks rippled through the sector. Shares of cryptocurrency exchange Coinbase fell sharply after a plunge in the value of some digital currencies. Among other stocks associated with bitcoin, shares of Overstock.com fell sharply. The U.K. government is starting a national-security review of Nvidia s $40 billion deal to buy British chip designer Arm from SoftBank Group, raising a new hurdle for an industry-reshaping proposal facing significant regulatory scrutiny around the world. Shares of electric-car maker Tesla tumbled after reports that U.S. safety officials were investigating a fatal weekend crash involving a Model S sedan, which was operating without anyone in the driver s seat when it crashed into a tree Saturday night north of Houston, killing two men. Tesla also faced a public-relations issue in China, where viral
Provided by Dow Jones Shares of power producers fell as Treasury yields ticked up. One money manager said sustainable energy companies look set to gain from the Biden administration s unveiling of the second leg in an ambitious infrastructure plan. A meaningful portion of the proposal is dedicated to decarbonization initiatives, said analysts at money manager UBS Global Wealth Management, in a note to clients. Incentives for electric vehicles, renewable power, clean energy, energy efficiency, and water and electric grid upgrades should augur well for a range of companies and their suppliers. Write to Rob Curran at rob.curran@dowjones.com