Verastem Inc. is reducing its workforce by approximately 50% to 20 full time employees. The company suffered a blow on September 28, 2015, with the stock losing 67% of its value, following an enrollment halt to a phase II study of its lead drug candidate VS-6063 for patients with mesothelioma due to futility.
Gap (GPS) revealed lower sales for September, a month the clothing retailer described as "challenging." A negative impact from foreign currency exchange and weakness in its Banana Republic division weighed on results. Gap said its net sales for the 5-week period ending October 3 dropped 1 percent from last year.
Alcoa Inc. (AA), the largest producer of aluminum in the US, Thursday reported a sharp decline in profit for the third quarter, as sales dropped 11 percent reflecting divestitures and currency headwinds. Both the earnings and revenues fell short of Wall Street analysts' estimates, sending its shares...
After moving in opposite directions early on Thursday, stocks moved mostly higher in reaction to the minutes of the latest Federal Reserve meeting. The gains on the day extended a recent upward trend, with the Dow and the S&P 500 reaching their best levels in well over a month.
Hillary Clinton once described the Trans-Pacific Partnership as the "gold standard" of trade agreements, but the Democratic presidential candidate now says she does not support the deal.
In a surprise move, House Majority Leader Kevin McCarthy, R-Calif., announced Thursday he is dropping out of the race for House Speaker. McCarthy's decision came as he faced opposition from some conservative lawmakers and it appeared he would not get the 218 votes needed on the House floor.
Bond management titan Bill Gross has filed suit against his former employer, PIMCO, for breach of contract related to his ouster from the company. Gross is looking for damages of at least $200 million for forcing him out of the company, according to court filings. Gross claims that other managers conspired to push him out of the firm he co-founded in order to improve their own finances.
While the tech-heavy Nasdaq has slid firmly into negative territory, the Dow and the S&P 500 have shown a lack of direction over the course of the trading day on Thursday.
Astronomers at the University of Washington's Virtual Planet Laboratory have determined a new way to judge and rank how suitable alien planets might be capable of supporting life. The ranking will help fellow astronomers to prioritize and point their yet-to-be launched powerful telescopes to those exoplanets - planets outside our solar system - that are most Earth-like.
President Barack Obama spoke with the head of Doctors Without Borders on Wednesday to apologize for a U.S. military airstrike on a hospital in Afghanistan, the White House said.
Stocks have moved mostly lower in early trading on Thursday, giving back some ground after ending the previous session notably higher. The major averages have all moved to the downside, although selling pressure has remained somewhat subdued.
Shares of Pure Storage Inc. did not live up to expectations and tumbled on the opening day of trading following the data storage company's initial public offering. Pure Storage had priced its IPO of 25 million shares of its Class A common stock at $17 per share, in the middle of its targeted range. But its shares closed Wednesday's debut trading at $16.01, almost $1 lower.
In a largely party-line vote, the Republican-controlled House approved the creation of a special committee to investigate Planned Parenthood on Wednesday. The House voted 242 to 184 in favor of a resolution to create the panel.
Aiming for customers that prefer goods made with a little love, Amazon has launched Handmade, an online market selling artisan goods from around the world.
Downside risks to the euro area growth and inflation outlook, mainly those stemming from the slowdown in emerging economies and the volatility in forex markets, had "clearly increased", while it was too early to conclude that they will have a lasting impact, the minutes of the European Central Bank Governing Council rate-setting session, held on September 2-3 showed Thursday.