Shares of sports data company Genius Sports rose as much as 13% on September 25 after JPMorgan began coverage with an overweight rating and an $8 price target. The bank pointed to strong revenue growth, improving profitability and optional upside from the fast-growing prediction-market industry.
Zscaler shares fell about 9% on September 25 after the cybersecurity company said chief revenue officer Mike Rich would step down for personal reasons and be replaced by sales head Ross Tackett from October 1. Analysts called it a low-risk internal promotion, but the move landed on a stock already sensitive to slowing growth.
New orders for US durable goods were essentially unchanged at $338.6 billion in August, beating expectations of a decline. Orders excluding transportation and defense rose 1.6%, more than three times the forecast, suggesting business investment is holding up despite high borrowing costs and weak consumer confidence.
Saudi Arabia is exporting about 6 million barrels of crude a day in September, nearly 80% more than in August and the most since the Iran war began, according to Kpler. The surge has come even though the East-West pipeline to the Red Sea was shut after a drone attack.
The University of Michigan's consumer sentiment index fell 7% to 48.1 in September, below its level at the start of every US recession since the survey began. Year-ahead inflation expectations rose to 4.6%, as high energy prices and borrowing costs weigh on American households.
US stocks rose on Friday, September 25, with the Dow gaining 479 points and the S&P 500 climbing 0.5% to within 0.7% of its record, as oil fell on hopes of a Strait of Hormuz reopening. Stocks posted their first winning week in three even as 10-year Treasury yields held near their highest since 2007.
Chevron ENGINE and IIT Madras have launched the Chevron-IITM Energy Technology Incubation Program, offering early-stage innovators, researchers and social entrepreneurs mentorship, prototype funding and incubation support in energy technology, carbon utilisation, circular economy and resource efficiency.
Rivet, co-founded by former Tinder and Match Group executive Taru Kapoor, has raised $10.5 million in seed funding led by Peak XV Partners, Shine Capital and Blume Ventures as it launches its "social matching" dating network across the United States.
The Sensex rose 315 points to 73,895.74 and the Nifty closed at 23,140.50 on September 25, led by Axis Bank and auto stocks. Even so, the Nifty fell for a seventh straight week, its longest weekly losing streak since the Covid-era sell-off of 2020.
San Mateo-based BigHat Biosciences has raised a $75 million Series C co-led by DFJ Growth and Premji Invest, taking total funding to $223 million, as it advances BHB810, which it calls the first AI-designed biologic to reach clinical trials.