Streetbeat News

WeWork Inc

https://www.we.co/

CEO

David M. Tolley

Employees

7,859

wework provides you with the space, community, and services you need to make a life, not just a living. we transform buildings into beautiful, collaborative workspaces and provide infrastructure, services, events and tech so our members can focus on doing what they love.

Open

1.15

Mkt cap

44M

Volume

6.3M

High

1.20

P/E Ratio

-0.01

52-wk high

130.80

Low

0.82

Div yield

N/A

52-wk low

0.82

U.S. stocks traded mixed with the Dow down 0.05%, NASDAQ up 0.32%, and S&P 500 up 0.15%. Private businesses added 113,000 workers in October, less than the expected 150,000. Cellectis S.A. (CLLS) shares rose 154% after announcing strategic collaboration with AstraZeneca. Patriot Transportation (PATI) shares rose 105% after an acquisition agreement with United Petroleum Transports. Monopar Therapeutics (MNPR) shares rose 42% after presenting positive data. WeWork (WE) shares fell 50% due to bankruptcy reports. IRIDEX Corporation (IRIX) shares fell 45% after withdrawing its annual guidance. Paycom Software (PAYC) shares fell 37% after reporting worse-than-expected Q3 sales.

Portfolio Pulse from Lisa Levin

November 01, 2023 | 1:42 pm

WeWork Inc (NYSE:WE) shares are plummeting following reports that the company is nearing bankruptcy. The company plans to file for Chapter 11 bankruptcy as soon as next week. This news follows WeWork's recent creditor agreement to temporarily postpone some of its debt payments. The company's shares have fallen more than 96% since the start of the year.

Portfolio Pulse from Adam Eckert

November 01, 2023 | 1:31 pm

Several stocks are experiencing significant pre-market trading movements. Cellectis S.A. (CLLS) surged 152% following strategic collaboration and investment agreements with AstraZeneca. Plus Therapeutics, Inc. (PSTV) rose 11.3% after announcing third-quarter financial results and a share repurchase program. On the downside, WeWork Inc. (WE) dipped 37.3% amid reports of a planned Chapter 11 bankruptcy filing. Paycom Software, Inc. (PAYC) fell 37.1% after reporting worse-than-expected third-quarter sales results and issuing below-estimate FY23 revenue guidance.

Portfolio Pulse from Lisa Levin

November 01, 2023 | 12:07 pm

Ahead of the Federal Reserve's rate decision, index futures are pulling back due to negative earnings reports from companies like Advanced Micro Devices, Inc. (AMD) and Yum China Holdings, Inc. (YUMC). The Nasdaq Composite, S&P 500, and the Dow Industrials have recorded three straight monthly losses. However, analyst Ryan Detrick predicts that November could bring positive news for the market. In premarket trading, the SPDR S&P 500 ETF Trust (SPY) and the Invesco QQQ ETF (QQQ) both fell. Several companies, including Paycom Software, Inc. (PAYC) and WeWork Inc. (WE), saw significant drops in their stock prices.

Portfolio Pulse from Shanthi Rexaline

November 01, 2023 | 11:32 am

WeWork Inc (NYSE:WE) shares plummeted following reports that the company is on the brink of bankruptcy. The company plans to file for Chapter 11 bankruptcy in New Jersey as soon as next week. WeWork shares are down more than 96% since the start of the year.

Portfolio Pulse from Adam Eckert

October 31, 2023 | 8:51 pm

WeWork is reportedly planning to file for bankruptcy as early as next week, causing its shares to trade lower.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 8:40 pm

WeWork is planning to file for bankruptcy as early as next week, according to a report by the Wall Street Journal. The co-working space provider has been struggling with financial issues for some time now.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 8:25 pm

Bitcoin's price spiked on false rumors of an ETF approval by BlackRock. Albemarle Corporation withdrew its offer to acquire Liontown Resources. Pfizer cut its annual revenue guidance by $9B due to a slump in COVID-19 vaccine sales, and BioNTech warned of €900M write-offs. Rite Aid filed for Chapter 11 bankruptcy. AstraZeneca's Tagrisso-Chemo combo is under FDA priority review. Honeywell projects a 10% increase in new business jet deliveries in 2024. WeWork appointed David Tolley as CEO. Novavax faces a setback as the EMA delays a decision on its COVID-19 vaccine. Activist shareholder Starboard Value acquired a stake in News Corp. Goldman Sachs is reconsidering its consumer lending venture. Manchester United shares fell as the Qatari group pulled away from acquisition. Apple is reshuffling its executive ranks and focusing on reducing the price of Vision Pro. Walgreens and CVS pharmacy staff are planning a nationwide walkout over poor working conditions.

Portfolio Pulse from Vandana Singh

October 16, 2023 | 2:35 pm

WeWork Inc (NYSE:WE) has appointed David Tolley as its CEO. Tolley has been a WeWork Board member since February 2023 and interim CEO since May 2023. The company is in the process of executing a strategic plan to reduce rent expenses and drive operational efficiency. WeWork's stock price, which had plummeted to less than $1 per share earlier in 2023, is now trading higher by 1.77% at $2.40.

Portfolio Pulse from Shivani Kumaresan

October 16, 2023 | 2:23 pm

WeWork has appointed David Tolley as its new CEO as part of its ongoing strategic transformation efforts.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2023 | 12:31 pm

All corporate logos and prices are for illustrative purposes only and are not a recommendation, an offer to sell, or a solicitation of an offer to buy any security.