Home Latest News AMC’s share sale put the brakes on the overnight rally.

AMC’s share sale put the brakes on the overnight rally.


Credits…Philip Cheung for The New York Times

AMC’s anti-gravity run on the stock exchange stalled in premarket trading Thursday after the movie-theater chain said in a regulatory filing that it planned to sell an additional 11.55 million shares. After being up about 20 per cent in the morning, its share price sank nearly 4 per cent more.

AMC’s share price nearly doubled to $62.55 on Wednesday after the company said it would offer Free Popcorn and Other Perks To the more than three million retail investors who have recently purchased shares in the company.

AMC has been adopted by individual small investors who are seeking to increase the price of some disliked shares. These shareholders now hold 80 per cent of the company, the AMC said. Other so-called meme stocks also fell in premarket trading, including Bed Bath & Beyond, Kos and GameStop.

US stock futures fell as traders cautiously watched two reports on the labor market. Weekly data on the state’s initial claims for jobless benefits will be published later Thursday morning. This number is expected to drop again and is almost half of what it was in early April.

The Labor Department will publish its monthly jobs report on Friday. And last month, that report showed Unexpectedly small increase in recruitment in April.

According to futures signals, the S&P 500 is set to open down half a percentage point.

Investors are watching the Federal Reserve closely for signs that it will pull back its monetary stimulus, which has helped keep asset prices higher. Patrick Harker, the chairman of the Federal Reserve Bank of Philadelphia, said on Wednesday that it may be time to “at least think about diluting” its massive government bond-buying program.

on Wednesday, federal Reserve announced that it would sell its relatively small holdings of corporate bonds, which were bought last year to stabilize the bond market in the early months of the pandemic.

Most European stock indices were down on Thursday. In the UK, the FTSE 100 fell 0.8 per cent, falling more than other major European indices. There is speculation that the final lifting of social-distancing restrictions in the UK on June 21, may be delayed Due to the spread of the first discovered coronavirus variant in India.

Oil prices fell. US crude benchmark West Texas Intermediate futures fell 0.2 per cent to $68.70 a barrel. On the previous day, the price was at its highest level since the end of 2018.

Last month, people gathered in support of the Palestinians at the Grand Army Plaza in Brooklyn.
Credits…Stephanie Keith for The New York Times

Facebook has grown discontent over its handling of international affairs recently, according to interviews with more than half a dozen current and former employees.

For weeks, he said, employees have complained about the company’s decisions to remove the positions of prominent Palestinian activists and critical messages of the Indian government’s handling of the pandemic, Shira Frenkel and Mike Isaacs report for The New York Times.

Activists questioned top officials in meetings about the conditions and, in one case, formed a group to internally report Palestinian content that they believed had been unfairly removed by Facebook. . This week, more than 200 employees signed an open letter calling for a third-party audit of Facebook’s handling of Arab and Muslim posts, the letter seen by one person.

The action is another sign of internal unrest at Facebook as criticism from employees goes beyond domestic issues. For the past few years, employees had largely challenged Facebook CEO Mark Zuckerberg to take over by him. Former President Donald J. Trump’s provocative post. But since Mr Trump stepped down in January, attention has been paid to Facebook’s global policies and what employees said was the company’s approval of governments to make profits in those countries.

Ashraf Zitoon, Facebook’s former policy chief for the Middle East and North Africa region, said: “There is a feeling among people at Facebook that it is a systematic approach that supports strong government leaders on the principles of what is right and the right thing to do. ” Which left in 2017.

Grocery workers say mask use has dropped significantly following CDC guidance from vaccinated Americans.
Credits…Carlos Burnett for The New York Times

Retail, hospitality and fast-food workers across the country interviewed by The New York Times expressed alarm that their employers had used new guidance from the Centers for Disease Control and Prevention to make masks optional for vaccinated customers.

Some said they had been vaccinated, but were concerned that they could still become ill or infect family members who were or were not vaccinated. Others said they haven’t been vaccinated yet, Noam Scheiber reports for The Times.

Matt Cannon, a room-service server at Beau Rivage Resort and Casino in Biloxi, Miss., said that before the CDC relaxed its recommendations, the resort’s policy was that all guests should wear masks in common areas, as long as they were whether eating, drinking or smoking, and that it was strictly enforced.

“There were several security checkpoints around the place where we wanted someone from security to tell them, ‘Please put on a mask,'” said Mr Kennan, the manager of a store with his union, Unite Here. “Guests had stations with disposable masks to wear if they didn’t have one.”

Mr Cannon said the policy continued even after the governor lifted a statewide mask mandate in early March, but that changed after the CDC’s announcement. According to Mr Kennan, vaccinated guests are allowed to move around without masks, but there is no way to verify vaccination status and less than half of the guests are wearing them.

Disclaimer: The opinions expressed within this article are the personal opinions of the author. The facts and opinions appearing in the article do not reflect the views of knews.uk and knews.uk does not assume any responsibility or liability for the same.

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