Latest News

European Equity Benchmarks Close Mixed; Investors Favor Financials, Automotive Stocks Over Mining, Industrials

European Equity Benchmarks Close Mixed; Investors Favor Financials, Automotive Stocks Over Mining, Industrials

The broad-based major European indices closed relatively flat in Monday trading as the UK market edged higher, while the continental markets moved slightly lower. In economic news, July data signaled a disappointing start to Q3 for the UK service sector, according to IHS Markit, with business activity and incoming new work rising at softer rates than in June. Higher staff […]

Linde Considers Additional US Asset Sales to Salvage $47 Bln Praxair Deal

Linde Considers Additional US Asset Sales to Salvage $47 Bln Praxair Deal

Linde AG is considering the sale of additional US assets, which will mark a near exit from industrial gas operations in the country and an 11th hour attempt to salvage its $47 billion merger with Praxair (PX), Bloomberg reported Monday, citing sources familiar with the matter. The decision to sell the onsite and specialty gas businesses has not yet been […]

Kosmos Energy Enters Gulf of Mexico With Acquisition of Deep Gulf Energy

Kosmos Energy Enters Gulf of Mexico With Acquisition of Deep Gulf Energy

Kosmos Energy (KOS) said Monday it will acquire Deep Gulf Energy, a deepwater firm operating in the Gulf of Mexico, for $1.225 billion. The company said the acquisition will add to its deepwater Atlantic Margin portfolio and will be immediately accretive. The deal will enhance the scale of the company and is expected to generate “significant” free cash flow that […]

ETFs Edge Higher, Futures Inch Lower as Trade Tensions Persist

ETFs Edge Higher, Futures Inch Lower as Trade Tensions Persist

US stock futures were pointing to modest losses ahead of the open as trade tensions continue to weigh on market sentiment following last week’s developments between the U.S. and China. China said it will imposed tariffs on $60 billion of U.S. products as a response to an earlier announcement by the U.S. of an additional 25% tariffs on $200 billion […]

Indra K. Nooyi (PRNewsfoto/PepsiCo, Inc.)

PepsiCo CEO Nooyi to Step Down Effective Oct. 3

Indra Nooyi will step down as chief executive of PepsiCo (PEP) on Oct. 3 and will be replaced by Ramon Laguarta, the company said on Monday. Nooyi will step down on Oct. 3 after 24 years with Pepsi, including the past 12 as chief executive. She will retain her role as chairman until early 2019 to ensure a “smooth and […]

Wolverine World Wide’s Price Target From Wedbush Boosted to $41 From $37

Wolverine World Wide’s Price Target From Wedbush Boosted to $41 From $37

Wolverine World Wide (WWW) received a boost to its price target Monday from Wedbush ahead of the footwear-and-apparel company’s Q2 report expected Wednesday. Wedbush’s new price target on the stock is $41 per share, up from $37. This moves the price target further above the stock’s Friday closing price of $35.91 as Wedbush kept its investment rating on the shares […]

Ironwood Pharmaceuticals Q2 Loss of $0.28 Misses Street View

Ironwood Pharmaceuticals Q2 Loss of $0.28 Misses Street View

Ironwood Pharmaceuticals (IRWD) reported a Q2 non-GAAP net loss per share of $0.28, unchanged from the year-ago quarter but worse than the Capital IQ consensus forecast of a loss of $0.23. Revenue for the quarter was $81.1 million, up from $65.1 million during the same period last year, and below the analyst forecast of $82.6 million. Ironwood said it planned […]

Payrolls Miss Tempered by Upward Revisions

Payrolls Miss Tempered by Upward Revisions

The 157,000 July payroll gain undershot the 190,000 expected (with “whisper” numbers well above 200,000), but 59,000 in upward revisions left a slightly higher-than-expected July payroll level on net, just as hours-worked fell 0.2% in July after a sharp June boost to 0.5% from 0.2% also left that metric in line with July expectations. There was the expected 0.3% hourly […]