Elon Musk's net worth increases by over $100 billions in a single day, yet his effective tax rate is lower than that of a truck driver

On October 6, shares of prison operator GEO Group (GEO.N) rose 2.6% in premarket trading to $33.19. The company conducted a debt refinancing, redeeming $650 million in senior secured notes due in 2029. Its $550 million revolving credit facility maturity was extended to July 2031. Earlier this week, the company agreed to sell its ICE processing center complex in Adelanto, California for $950 million. The company also recently increased its share repurchase authorization to $1.25 billion. As of the close of the previous trading day, the company's share price had more than doubled this year. (For the convenience of non-English speakers, Reuters provides automated translation of its reports into several other languages. As automated translation may contain errors or lack necessary context, Reuters does not guarantee the accuracy of automated translations and provides them for the convenience of readers only. Reuters assumes no responsibility for any damage or loss arising from the use of automated translation.)

In the first paragraph, stock information was added. Paragraphs 2 to 8 provide a detailed introduction to the disease and the clinical trial situation. Reuters, Oct. 6 - ArriVent BioPharma (AVBP.O) said on Tuesday that its oral therapy for treating rare lung cancer failed to meet its primary goal of delaying disease progression in a late-stage clinical trial, leading to its shares plunging by 63% in premarket trading. The therapy, firmonertinib, targets previously untreated advanced non-small cell lung cancer (NSCLC) patients who carry a gene mutation called the EGFR exon 20 insertion, which can promote cancer growth. This mutation accounts for about 0.5% to 1% of all NSCLC cases. NSCLC represents about 85% of all lung cancer cases. In the trial, according to independent reviewers, the 240mg dosage developed by ArriVent extended median progression-free survival to 11 months, compared to 9.5 months in the chemotherapy group. Chief Executive Officer Bing Yao stated that the improvement in progression-free survival (defined as the length of time patients live without worsening or spread of disease) was not significant. "These disappointing results are not what we had hoped for, especially for patients with EGFR exon 20 insertion-mutant NSCLC who are in urgent need of more effective treatments," said Yao. The company is evaluating the full data set to determine the most suitable development path for firmonertinib. ArriVent stated that no new safety signals were observed in the trial. The therapy has already been approved in China for non-small cell lung cancer patients carrying specific mutations. (For the convenience of non-English language speakers, Reuters has automated the translation of its reporting into several other languages. Due to possible errors or missing context in automated translation, Reuters does not guarantee the accuracy of automated translated texts and provides them for readers’ convenience only. Reuters accepts no responsibility for any damages or losses caused by the use of the automated translation feature.)

09:15 AM EDT, 10/06/2026 (MT Newswires) -- Consumer stocks were edging higher premarket Tuesday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) up 0.1% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) advancing by 0.4%. Nomad Foods (NOMD) stock was up nearly 3% after the company said it now expects fiscal 2026 organic revenue to decline 2% to 3%, compared with its previous guidance for a decline of 2% to 5%. PepsiCo (PEP) and Monster Beverage (MNST) can continue to label their cans in India as energy drinks after a court ruling, Reuters reported, citing a lawyer present at the hearing. PepsiCo shares were slightly higher and Monster Beverage stock was down 0.3% pre-bell. B&G Foods (BGS) said it cancelled its agreement to sell Green Giant Canada to Nortera Foods on Monday, after failing to obtain Canadian regulatory approval. Shares of B&G Foods were up more than 1% premarket.