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The British lender, which is the largest investment bank outside the U.S., braced,57243.msg114395.html#msg114395 for an increase in bad loans and took a further hit from a debt-sale snafu.


We propose an indicator to measure the degree to which a particular news article is novel, as well as an indicator to measure the degree to which a particular news item attracts attention from investors. The novelty measure is obtained by comparing the extent to which a particular news article is similar to earlier news articles, and an article is regarded as novel if there was no similar article before it. On the other hand, we say a news item receives a lot of attention and thus is highly topical if it is simultaneously reported by many news agencies and read by many investors who receive news from those agencies. The topicality measure for a news item is obtained by counting the number of news articles whose content is similar to an original news article but which are delivered by other news agencies. To check the performance of the indicators, we empirically examine how these indicators are correlated with intraday financial market indicators such as the number of transactions and price volatility. We proposed two new measures to efficiently summarize news articles on individual companies and empirically showed that the two measures are closely correlated with indicators of market activity such as the transaction volume and price volatility. Our methodology is closely related to approaches adopted in previous studies but differs from them in some important respects.

  • We first provide a detailed description of our dataset containing over 90 million English-language business news articles, and show that breaking news have much more impact on stock price volatility and transaction volume than other news.
  • The Federal Reserve’s three-quarter percentage point interest rate hike did not come as a surprise.
  • By midafternoon Monday the Dow was on pace for one of the worst days of the year so far, down more than 890 points to 33,797 (–2.57%).
  • Investors are fearful of a recession, but the White House says the economy is resilient.
  • Among the best ETFs, the Innovator IBD 50 ETF rose 2.3%, while the Innovator IBD Breakout Opportunities ETF climbed 1.1%.
  • The legislation would extend EV tax credits, which should be good news for Tesla , General Motors , though there are various income and vehicle price limits on the credits.

To consider this question, suppose that a news article contains highly valuable information for market participants. In that case, it will be reported simultaneously by many news agencies, and the key words used in the news articles by the different agencies will overlap with each other. The empirical results shown above suggest that it is in such a situation that investors respond actively to such news article. An alternative interpretation is that simultaneous news reports by a number of agencies themselves stimulate market activity. Our approach to measure the novelty and topicality of news is closely related to recent studies on the application of text mining techniques to the analysis of financial market activities.

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For 2022, the company narrowed its adjusted EPS guidance range to $7.25 to $7.35 from $7.24 to $7.36, but raised its sales guidance to $57.5 billion to $58.5 billion from $56.9 billion to $58.1 billion. The stock has gained 3.0% over the past three months through Wednesday, while the Dow Jones Industrial Average undefined has lost 5.1%. Shares of Pfizer Inc. undefined gained 0.3% in premarket trading Thursday, after the pharmaceutical giant reported big second-quarter profit and revenue beats, driven primarily by “strong contributions” from its COVID drugs Comirnaty and Paxlovid. Net income rose to $9.91 billion, or $1.73 a share, from $5.56 billion, or 98 cents a share, in the year-ago period.

Separately, pending home sales fell a worse-than-forecasted 8.6%, the steepest drop since April 2020. In commodities, West Texas Intermediate crude increased 3.5% to $98.28/barrel following the sharpest weekly drawdown in domestic crude stockpiles since May. Inc. undefined edged up 0.1% in premarket trading Thursday, after the drug maker reported second-quarter profit and sales that rose above expectations, and raised its full-year sales outlook slightly. Net income more than tripled, to $3.94 billion, or $1.55 a share, from $1.21 billion, or 48 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share of $1.87 beat the FactSet consensus of $1.70. Sales grew 28.0% to $14.59 billion, well above the FactSet consensus of $13.87 billion, as pharmaceutical sales rose 28% to $12.76 billion and animal health sales were little changed at $1.47 billion. Sales of Merck’s largest drug Keytruda increased 26% to $5.25 billion to beat expectations of $5.03 billion.