Latest news with #KarynOvelmen
Bloomberg
15-07-2025
- Business
- Bloomberg
Stock Movers: Newmont, Trade Desk, Wells Fargo
On this episode of Stock Movers: - Newmont (NEM) shares plunged following the resignation of the company's chief financial officer. Shares of the world's top gold producer fell as much as 8.9% on Tuesday in New York, marking the biggest drop since April. The slump followed Newmont's post-market announcement Monday that CFO Karyn Ovelmen tendered her resignation last week. The company didn't disclose the reason for her departure. Chief Legal Officer Peter Wexler will serve as interim CFO until a permanent successor is hired, the company said. - Trade Desk (TTD) shares jump after S&P Dow Jones Indices said the advertising technology company will join the S&P 500 Index before trading opens on July 18.. Evercore ISI analyst Mark Mahaney says the inclusion is 'additional confirmation of TTD's very impressive fundamentals' and additional confirmation of the 'centrality' of the Internet Sector - Wells Fargo (WFC) shares are down after the bank lowered its full-year guidance for net interest income after another quarter of tepid growth amid the ongoing trade war. The San Francisco-based lender posted $11.7 billion in NII — income from lending minus the cost of deposits — for the three months through June, falling just short of analysts' estimates of $11.8 billion. That prompted Wells Fargo to lower its full-year NII growth target to little changed from last year, down from its previous guidance of 1% to 3% growth, driven by lower NII in the bank's markets business.
Yahoo
15-07-2025
- Business
- Yahoo
Dow slides, 30-year yield rises on CPI report, Newmont CFO departs
Yahoo Finance anchor Josh Lipton outlines the top stories of the trading session on Yahoo Finance's Market Minute. The 30-year Treasury yield (^TYX) rose above 5% after the June CPI report showed tariffs may be starting to drive prices higher. The data also weighed on stocks in the Dow Jones Industrial Average (^DJI). The Nasdaq Composite (^IXIC) is getting a boost after Nvidia (NVDA) said that it expects to be able to resume the sale of its H20 chip in China. Newmont (NEM) shares are trading lower after it was announced CFO Karyn Ovelmen has left the company. Stay up to date on the latest market action, minute-by-minute, with Yahoo Finance's Market Minute. It's time for Yahoo Finance's market minute. Stocks mixed as Nvidia peers set to receive a green light for trade with China from the Trump administration. On the economic front, a key consumer inflation print shows inflation accelerated in June. The latest consumer price data fueling a move in yields, the 30 year treasury yield rising above 5% for the first time in six weeks, as investors' long-term inflation expectations rise. Taking a look at First Solar as the US Commerce Department launches investigations that could set the stage for more tariffs. Quoting Bloomberg, the Commerce Department is investigating imports of parts for unmanned aerial vehicles and for polysilicon, a key material for solar power. And Newmont shares under pressure as its Chief Financial Officer unexpectedly resigns. The gold miner naming Peter Wexler as interim CFO until a permanent successor is selected. And that's your Yahoo Finance market minute. For more of what's trending on Yahoo Finance, scan the QR code below.
Yahoo
15-07-2025
- Business
- Yahoo
Top Stock Movers Now: Nvidia, AMD, Newmont, BlackRock, and More
Major U.S. equities indexes were mixed at midday Tuesday while China trade developments in the semiconductor sector boosted tech stocks. Shares of MP Materials soared after Apple said it would invest $500 million in the owner of America's only operational rare earths mine. Gold miner Newmont's CFO suddenly resigned, and shares U.S. equities indexes were mixed at midday Tuesday as tech stocks got a boost from semiconductor stocks. The tech-heavy Nasdaq climbed, while the S&P 500 and Dow dropped. Nvidia (NVDA) and Advanced Micro Devices (AMD) shares surged after the Trump administration reversed course and said it will allow the companies to sell key AI chips to China again. Shares of MP Materials (MP) soared after Apple (AAPL) said it would invest $500 million in the owner of America's only operational rare earths mine. Apple shares rose as well. Shares of medical equipment provider Steris (STE) gained on an upgrade from Morgan Stanley, which pointed to positive developments in its sterilization operations and market trends. Newmont (NEM) was the worst-performing stock in the S&P 500 as the gold miner's CFO, Karyn Ovelmen, suddenly resigned. Shares of BlackRock (BLK) dropped after the investment manager missed quarterly revenue estimates, even as it posted a record $12.5 trillion in assets under management. Wells Fargo (WFC) shares declined after the bank's net interest income came in below forecasts, and it lowered its guidance. Oil and gold futures declined. The yield on the 10-year Treasury note fell. The U.S. dollar was up on the euro, pound, and yen. The rally in cryptocurrencies stalled, with prices for most major digital coins lower. Read the original article on Investopedia Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
CNBC
15-07-2025
- Business
- CNBC
Stocks making the biggest moves midday: First Solar, Newmont, Wells Fargo, Nvidia & more
Check out the companies making the biggest moves midday: First Solar – Shares of the major domestic solar panel producer popped 6%. Bloomberg News reported that the U.S. Commerce Department has launched Section 232 investigations into imports of drones and polysilicon, which is used on solar panels. The move could be a precursor to tariffs, which may be imposed on goods under Section 232 if they are deemed a threat to national security. Newmont — The mining stock dropped 8% after Newmont disclosed CFO Karyn Ovelmen had left the company. JPMorgan Chase — Shares fell less than 1% even after the bank posted second-quarter earnings that beat analyst expectations. Investment banking and trading revenue drove the stronger-than-expected numbers. Wells Fargo — Shares were down 5% after the company lowered its 2025 net income guidance to roughly in line with 2024 levels. The bank previously expected an increase of 1% to 3%. The forecast reduction overshadowed better-than-expected second-quarter profits. Citigroup — Shares added 3% after the bank posted second-quarter results that exceeded analyst expectations. Citigroup earned $1.96 per share on revenue of $21.67 billion, while analysts polled by LSEG had expected earnings of $1.60 on $20.98 billion in revenue. BlackRock — Stock in the world's largest asset manager dropped 5% after second-quarter revenue missed Wall Street's expectations. BlackRock reported revenue of $5.42 billion, while analysts surveyed by LSEG were looking for $5.46 billion. The company also reported some outflows from an institutional client, though BlackRock still saw net inflows in Q2. CoreWeave — The AI cloud computing firm rose more than 8% after it committed to spending $6 billion on a new artificial intelligence data center in Pennsylvania. This was just one of several announcements Tuesday as part of a push by the Trump administration. Among those was Google 's plan to spend $25 billion on data centers and AI infrastructure. State Street — Shares slipped 4% after the bank reported second-quarter net interest income of $729 million, while FactSet analysts had estimated $733.2 million. This shortfall overshadowed its second-quarter beat. Nvidia — Shares jumped 4% after the graphics processing unit manufacturer announced it will "soon" resume sales of its H20 AI chip to China upon receiving licenses from the U.S. government. The Trump administration had previously told the company in April that it would require a license to sell the chips in China, effectively halting sales. Fellow semiconductor chip stocks Advanced Micro Devices , Broadcom and Micron Technology respectively rose 6%, 2% and 1%. Trade Desk — Shares surged 9% after S & P Global announced that the digital advertising company is set to join the S & P 500 as of Friday. It will replace software maker Ansys, which will be acquired in a $35 billion deal by Synopsys. Shares of AppLovin and Robinhood Markets both shed around 1% upon being left out of the index once again. National Fuel Gas — Shares popped 6% on the heels of Bank of America's double upgrade to buy from underperform. Bank of America said the energy company has improved productivity.
Reuters
14-07-2025
- Business
- Reuters
Newmont CFO Karyn Ovelmen resigns, insider named interim finance chief
July 14 (Reuters) - Gold miner Newmont Corp (NEM.N), opens new tab said on Monday its CFO Karyn Ovelmen has resigned and named insider Peter Wexler as interim CFO until a permanent successor is selected. Wexler previously served as chief legal officer of Schneider Electric ( opens new tab for 15 years before joining Newmont in March 2024. Ovelmen's departure, which comes a little over two years into her role, was not due to any disagreement on operations, financial statements, or accounting policies, the company said. Earlier this month, the company said it would lay off 10% to 15% of its workforce at its Merian mine in Suriname, citing production declines. The company is scheduled to report its second-quarter results on July 24. Newmont has initiated the search for a permanent finance chief, it said.
