Archer Daniels Midland Company plans to cut 127 staff at its recently acquired Neovia animal feed business in France to eradicate job duplication, a spokesman for the company said on Tuesday. Chicago-based ADM took over Neovia for 1.54 billion euros ($1.73 billion) in February as part of the U.S. farm giant's strategy to expand in the fast-growing animal nutrition sector. Most of the job cuts will take place at the company's former headquarters in Saint-Nolff in the northwestern region of Brittany, with some at its research lab in Chateau-Thierry, east of Paris, the spokesman said.
The appetite of short sellers, who are betting against vegan meat company Beyond Meat (BYND), is insatiable. Despite Beyond Meat shares carrying insanely high borrowing costs relative to other packaged foods and meat stocks, short sellers continue to line up to bet against the El Segundo, California-based company that has rallied more than 600% since its May initial public offering. As of Tuesday's open, that incredible rally meant short sellers had racked up $739 million in total mark-to-market losses since Beyond's IPO, according to S3 Analytics.
The nation's largest mattress retailer and Tempur Sealy International, the second largest mattress manufacturer, have resolved their differences and renewed a sales partnership. Tempur Sealy announced Tuesday that it would begin providing its products once again to Mattress Firm, which remains the No. 1 mattress seller despite its Chapter 11 bankruptcy filing in 2018 that culminated in about 640 store closures. The new deal gives Mattress Firm the right to sell Tempur-Pedic, Stearns & Foster and Sealy branded mattresses in its 2,500 stores beginning in the fourth quarter.
After the committee's announcement, Federal Reserve Chairman Jerome Powell will hold a press conference. Given the recent escalation of the U.S.-China trade war and slew of worrisome economic data, this month's FOMC meeting will be even more closely watched than usual. While consensus among economists is that there will be no rate cut following this month's meeting, how Federal Reserve Chairman Jerome Powell illustrates the Fed's views on the state of the economy and outlines the Fed's future monetary path will be focal points among market watchers.
Chipmaker Advanced Micro Devices has staged an amazing turnaround over the past several years, fueled by new products and improved profitability. AMD stock has surged as a result. But is AMD a buy right now? AMD competes with Intel in making central processing units, or CPUs, for personal computers and servers.
2010, 2011 and 2017 were the only other years over the past decade to have recorded more retail bankruptcies in the comparable period. It is worth noting this data covers US companies but excludes others like Arcadia Group, the London-based company behind Topshop, which filed for bankruptcy in the US this year.
A Chinese court has ruled that bike-sharing startup Ofo, once valued at upwards of $2 billion, has no ability to pay its massive debts to either suppliers and users, adding another chapter to a cautionary tale for investors in China's frothy startup sector. Ofo “has basically no assets” (link in Chinese) and therefore cannot repay Tianjin Fuji-Ta Bicycle, a supplier that sued the operator of the bike-share company this year to recover the roughly $36 million it was owed, a court in the city of Tianjin ruled on Monday (June 17). It noted that the company's bank accounts either have a zero balance or are frozen, and that it had no property, cars, or investment assets either, in a verdict first reported by China Securities Journal, part of the state-run Xinhua news group.
Sen. Thom Tillis, a North Carolina Republican, comments on the outlook for Federal Reserve monetary policy during an interview with Bloomberg's David Westin on "Balance of Power."
Harley Davidson has continued it's rather rough run over the past year, down about 25%, and is also trading near levels not seen since 2010. That does not tell the whole story though, as the company has been buying back shares at a rapid clip, reducing share count by nearly 33% since 2010. So, while the current stock price is at 2010 levels, the market cap has fallen given the reduction in shares.
NASDAQ: ZYXI) Zoetis Inc (NYSE: ZTS) Abeona Therapeutics Inc (NASDAQ: ABEO) BioNano Genomics Inc (NASDAQ: BNGO) HTG Molecular Diagnostics Inc (NASDAQ: HTGM) Kezar Life Sciences Inc (NASDAQ: KZ) Mediwound Ltd (NASDAQ: MDWD) MEREO BIOPHARMA/ADR (NASDAQ: MREO) Trinity Biotech plc (NASDAQ: TRIB) Adamas Pharmaceuticals Inc (NASDAQ: ADMS) announced retrospective data analysis from pooled Phase 3 study of its Gocovri extended release capsules, which showed that the drug reduced both the number and duration of troublesome dyskinesia and OFF episodes relative to placebo such that patients experienced approximately half as many transitions between troublesome dyskinesia and OFF at endpoint vs baseline.
It isn't easy leading a major company in Silicon Valley, where the pressure to compete is intense, for both disruptive products and talent. Still, a number of Silicon Valley CEOs again rose to the top of this year's list of top CEOs, as ranked by anonymous employee review site Glassdoor. In fact, the top-rated CEO in the U.S., according to Glassdoor, runs a company that's based in Palo Alto.
Boeing received a letter of intent for 200 737 Max jets at the Paris Air Show, despite the continued worldwide grounding, while Airbus announced more orders for its new A321XLR jet. Boeing, Airbus Orders The 200-plane letter of intent from the International Airlines Group, which is the parent of Aer Lingus, British Airways, Iberia, Vueling and LEVEL, is worth $24 billion at list prices. "We have every confidence in Boeing and expect that the aircraft will make a successful return to service in the coming months having received approval from the regulators," IAG CEO Willie Walsh said.
In the world of pot stocks, your options are seemingly limitless. To reduce the agony of parsing which stocks might be winners and losers, you might just settle on the biggest names out there. With legal marijuana sales growing at a rate higher than 20%, how could you go wrong?
Value stocks are so out of fashion at the moment that despite being cheaper than they've been in the past 30 years, some experts suggest they're still not the stocks to buy. “We could've had this story 10 years ago and talked about the 20-year anniversary of it being a bad market for value,” Dave Nadig, managing director of ETF.com, said recently on CNBC. Another expert who appeared on the same CNBC show as Nadig suggested that you should only buy value stocks heading into a recession or in the first year coming out of one.
If reading financial markets is usually as inscrutable as reading tea leaves, bond investors have decided now is the time to send a message in big, bold letters. Investors are rushing to get their hands on the safest assets available, such as government bonds. Investors are anticipating a global shift in monetary policy towards lower interest rates, and loosening of financial conditions.
With the advent of its new "ground beef" product, Beyond Meat's shares are up across the board. A 10% spike in share values is being credited to the company's recent announcement of the product. The rise in shares is also being credited to Beyond Meat's partnership with companies such as Tim Hortons and Carl's Jr. The plant-based meat alternative market is estimated to be worth $140 billion in the next decade.
Some evidence used to charge Huawei Technologies Co. with bank fraud and violating U.S. sanctions on Iran was deemed so sensitive that the Chinese telecom giant's lawyers must now take unusual steps to review the information -- and even then, the company may never see it. While specific evidence wasn't disclosed, prosecutors convinced a federal judge that releasing too much would pose a risk to national security and other governmental concerns. The U.S. already had banned the company's technology and accused Huawei of aiding Beijing in espionage.
Two companies begged the US government to raise tariffs on imported solar panels in 2017. “Stop the bleeding,” implored panel maker Suniva in its petition (pdf) to the US International Trade Commission (ITC), joined by a second manufacturer, SolarWorld. Domestic solar panel manufacturers, they argued, needed import taxes to “grow and thrive.” These tariffs, Suniva insisted, would generate at least 114,800 new jobs in the US.
President Donald Trump continues to trash Federal Reserve Chair Jerome Powell seemingly daily on Twitter. There is at least a 25% probability of Dow 30,000 occurring by the first quarter of 2020, Skybridge Co-Chief Investment Officer Troy Gayeski said on Yahoo Finance's The First Trade. Investors certainly have the cash to pile into stocks. Fund managers' are now aggressively overweight cash, according to a new survey from Bank of America Merrill Lynch.
Bernard Arnault, Europe's richest person, just joined Jeff Bezos and Bill Gates in the world's most exclusive wealth club with a fortune of at least $100 billion. Arnault, chairman of LVMH, entered the ranks of centibillionaires Tuesday as the luxury-goods maker climbed 2.9% to a record 368.80 euros a share. His net worth has increased almost $32 billion this year, the most on the 500-member Bloomberg Billionaires Index.
By using TipRanks market data, you can see both analysts' consensus estimates and the upside potential from the current share price to the average analyst price target. Oil and gas giant Concho Resources (NYSE:CXO) deserves a hefty dose of support. Concho's operations are centered on the Permian Basin — one of the most prolific oil and gas regions in the U.S. Its core operating areas include the Delaware Basin and the Midland Basin and span nearly one million gross acres.
Following Friday's close of $2.42, one share of Nio stock barely costs more than a single Powerball ticket and there is plenty of debate regarding which might be the better investment. There could be more pain ahead for Nio stock because, although Nio stock price has been plummeting, sell-side analysts have been slow to trim their price targets on the stock. The average analyst price target on Nio stock is $7.64, or about triple where the shares trade now.
Starting in 2018, U.S. President Donald Trump has been touting the restorative value of the tariffs his administration imposed on imports that March. The decision comes amid falling steel prices in the U.S. due to worries of a glut from new capacity planned for the coming years. Major U.S. producers that had announced expansions or restarts include Nucor Corp., Steel Dynamics Inc., Commercial Metals Co., as well as U.S. Steel.
Here's what investors in Alibaba (NYSE:BABA) need to know about the stock split proposal. The Alibaba stock split would have the company dividing one share into eight shares. The company says that it will be holding a vote on the Alibaba stock split proposal during its annual shareholders meeting.
Thus, contrarians have four tailwinds to deliver upside in 2019 and 2020, which are as follows: Wireless Competition Headwind Is Moderation A ruthless pricing war in the wireless-coverage industry imposed a critical headwind on AT&T stock over the past several years. Top-Rated Biotech Stocks to Invest In Today Specifically, as wireless coverage has become largely commoditized, multiple wireless-coverage players offered similar plans as the major players; thus, price became the differentiating quality in this space. This has driven wireless prices across the industry lower, naturally weighing on AT&T's margins.