Articles written by: Marc Ferrigno

UK New Car Market Sees 23.1% Uplift in August as Share of Hybrid, Electric Cars Expands

The UK new car market enjoyed a boost in August, with year-on-year demand surging 23.1%, according to the Society of Motor Manufacturers and Traders, which represents more than 800 automotive companies in Britain. Demand was up across the board, with consumers and fleets seeing a surge in registrations of 23.3% and 19.7%, respectively, while orders from the smaller business sector […]

Workday Ramps up Full Year Outlook After Second Quarter Results Top Street View

Workday Ramps up Full Year Outlook After Second Quarter Results Top Street View

Cloud computing company Workday (WDAY) raised its full year revenue outlook late on Tuesday as it posted better-than-expected results for its top and bottom lines which was buttressed by a jump in subscriptions. The Pleasanton, California-headquartered company, which provides enterprise cloud applications for financial management and human capital management, generated total revenue of $671.7 million in the quarter ended July […]

European Equity Benchmarks Close Sharply Lower; Mining, Automotive, Bank Stocks Saddle Markets

The broad-based major European indices closed lower in Wednesday trading as mining, automotive and bank stocks burdened the markets In economic news, the UK’s consumer prices index including owner occupiers’ housing costs (CPIH) 12-month inflation rate was 2.3% in July, unchanged from June 2018, while the consumer prices index (CPI) 12-month rate was 2.5% for the month, up from 2.4% […]

Tribune Media May Review Assets, Make Acquisitions in Wake of Sinclair Deal Failure

Tribune Media (TRCO) could still explore a strategic review of some of its assets and start making acquisitions soon after killing its attempt to merge with Sinclair Broadcast Group (SBGI), S&P Global Ratings said on Wednesday. The agency raised its outlook on the Chicago-based broadcast and digital content company to stable from negative, while affirming its BB- issuer credit rating […]

European Equity Benchmarks Close Mixed; Investors Favor Retailers, Shun Energy Stocks

European Equity Benchmarks Close Mixed; Investors Favor Retailers, Shun Energy Stocks

The broad-based major European indices closed mixed in Thursday trading as the continental markets rose, while the London exchanged moved lower. In economic news, the Organization for Economic Co-operation and Development (OECD) reported that composite leading indicators (CLIs), which are designed to anticipate turning points in economic activity, are pointing to easing growth momentum in the euro area as a […]

Producer Price Inflation Misses Expectations

Producer price inflation was flat in July, coming in below expectations as the measure of final demand services contracted for the first time since December. The flat reading for last month compares with an advance of 0.3% in June and the consensus on Econoday for another rise of 0.3%. Year-on-year, PPI rose 3.3%, slightly slower than the 3.4% pace of […]

Wall Street Steady Pre-Bell; Futures Even, Europe Up

Wall Street Steady Pre-Bell; Futures Even, Europe Up

Wall Street pre-market Wednesday is steady, with US stock-index futures pointing to an opening bell largely unchanged from Tuesday’s close. European bourses are trading mildly higher, and Asian exchanges closed choppily on trade concerns. China reported a near-record $28.9 billion trade surplus in July with the US. The US will impose a 25% tariff on another $16 billion worth of […]

CVS Health Gets Bump After Reporting Second-Quarter Adjusted Earnings

CVS Health Gets Bump After Reporting Second-Quarter Adjusted Earnings

CVS Health (CVS) got a boost on Wednesday morning after reporting second-quarter adjusted earnings and sales that beat expectations. Second-quarter adjusted earnings came in at $1.69 a share, topping forecasts from Capital IQ for $1.61 on a normalized basis. The company said GAAP loss was $2.52 a share due to a one-time $3.9 billion, or $3.85 per share, goodwill impairment […]

Three-Year Auction Outlooks According to Mizuho

Three-Year Auction Outlooks According to Mizuho

Mizuho said the 3Y is cheaper than last month’s stop. The 2/3/5 fly is around the same level as last month’s auction. While dealers had to take down over 50% of that auction and 42.9% the last five auctions, it is possible the outright level and the 2.75% coupon draw out some buyers and dealers take down to go back […]