Goldman Sachs (GS), Morgan Stanley (MS), Bank of America (BAC), Citigroup (C): Wall Street banks were hit with $1.8 billion in fines Tuesday tied to probes into how the firms failed to monitor employee use of unauthorized messaging apps. The Securities and Exchange Commission announced 16 firms, including Goldman Sachs, Citigroup, Bank of America and Morgan Stanley, will pay $1.1 billion in fines. The Commodity Futures Trading Commission announced fines against 11 banks totaling $710 million.
Mind Medicine (MNMD): The biopharmaceutical company announced a proposed public offering of common shares. RBC Capital Markets and Cantor are acting as lead joint book-running managers for the offering. Shares sank more than 30% in extended trading following a Bloomberg report that shares will be offered at $4.25 each.
Lyft (LYFT): The ride-hailing company is freezing all U.S. hiring amid the stock’s recent slump and economic downturn, according to The New York Post. Lyft shares have declined 68% so far this year.
Blackberry (BB): Shares fell more than 2% in extended trading after BlackBerry’s second-quarter revenue missed Wall Street’s expectations. Sales fell 4% for the quarter to $168 million. Revenue from its Internet of things (IoT) unit rose 28% from a year ago to $51 million while cybersecurity sales totaled $111 million.