Shares of a software company that bought assets of Hewlett Packard Enterprise (HPE) toppled more than 50 percent on Monday after the company cut its revenue forecast and its chief executive resigned. U.K.-based Micro Focus International said it now expects revenue to fall anywhere between 6 and 9 percent for the twelve months ending October 31, 2018, significantly lower than the 2 to 4 percent decline it predicted in its interim January results. This was due largely to "one-off transitional effects" of the firm's $8.8 billion takeover of HPE's software assets last year, and issues associated with the implementation of a new IT system, Micro Focus said. HPE was formed in late 2015 as a result of the split of HP into two companies.
Since December 2016, the S&P 500 has climbed more than 21%, while the Dow Jones Industrial is up more than 25%. General Electric Company (NYSE:GE) stock is down nearly 55% during that time. Things just look very bleak for GE stock right now.
Advanced Micro Devices, Inc. (NASDAQ:AMD) has been hit by another security scare, this time a report from CTS Labs. The Israeli company detailed 12 “critical flaws” in its Ryzen chips, and gave AMD only 24 hours notice before publication. It couldn’t have helped but affect AMD stock.
Berkshire Hathaway Inc. Chief Executive Warren Buffett makes less than twice the company’s typical employee, the conglomerate said in a filing Friday. Buffett has earned a $100,000 salary for decades, and receives no bonus or other compensation. Berkshire said its median employee received $53,510 in 2017, or a ratio of 1.87 to 1. Berkshire’s second in command, Vice Chairman Charles T. Munger, has also received a $100,000 salary and no other compensation for years. Earlier on Friday, Boeing Co. BA, +0.15% reported its CEO made more than $18 million in compensation last year, resulting in a CEO-pay ratio of 166 to 1, and PepsiCo Inc. PEP, -0.31% said its CEO made more than $31 million, or a ratio
Let's go to to my Biotech Mailbag to answer two of the common questions we have received so far in March. What Will It Take for Biotech to Break Out? The main biotech indices are near highs they have not been able to decisively break above since
Ankur Jain, Kairos founder and CEO, discusses how his start-up, Rhino, plans to revolutionize the rental market by replacing one-time security deposits with affordable monthly fees.
Tesla Inc. may be falling short of its production goals for the Model 3, but investors may not necessarily care, analysts at Consumer Edge said in a note Friday. Tesla TSLA, -1.31% likely will be making 2,000 Model 3 sedans a week by the end of this month, below its target of churning out 2,500 of the key mass-market vehicles, said the analysts, led by James Albertine. Consumer Edge recently hosted meetings with Tesla executives, and the potential Model 3 production miss was one of its “key takeaways” after the discussions, the analysts said. Related: Ford finally gets ‘buy’ rating from Morgan Stanley, after 4 years of bearishness Consumer Edge kept its buy rating on Tesla unchanged, with a
Through its John Deere brand, Deere & Company is a leading manufacturer of agricultural, construction, and forestry machinery. Deere & Company shares have surged about 45% over the past year, significantly outpacing its industry peers. Region wise, equipment net sales increased 24% in the United States and Canada, and 33% in the rest of the world.
Twitter will ban advertisements for several kinds of cryptocurrency products and projects. The policy, according to Sky News, would go into effect in two weeks and would block ads for initial coin offerings, token sales, and cryptocurrency wallets. It could also encompass a ban on ads for cryptocurrency exchanges.
Apple Inc. has promised to spend $163 billion in cash, leading to breathless speculation about large acquisitions. The company’s largest acquisition was headphone maker Beats Electronics Inc., for $3 billion, and the next largest was NeXT, the merger that brought Steve Jobs back to Apple. While Apple has reportedly checked in on some potential large targets, the company is much more likely to spend much of the cash in three areas: Original content, bringing down the costs of manufacturing its signature iPhone, and rewarding investors. Apple has already expressed interest in expanding its original-content offerings, and recent moves and commentary suggest this is still an area of priority for the company.
A recent report by the International Renewable Energy Agency (IRENA) has disclosed that it anticipates the cost of renewables to be on a par with fossil fuels by as early as 2020. This is excellent news for proponents of renewables, and, one would assume, very bad news for fossil fuel companies. Lower production costs mean higher returns on investment after all, so surely the choice between investing in, for example, a gas fired power station and a wind farm comes solely down to philosophical considerations?
Mar.18 -- China named Yi Gang to run its central bank, elevating a long-serving deputy governor with deep international links to the forefront of efforts to clean up the nation’s financial sector and modernize monetary policy. Macquarie Group Head of China and Hong Kong Research David Ng weighs in on "Bloomberg Markets."
The listing is expected to give the firm extra financial muscle as it squares off against rivals in the Chinese market, including Alibaba Group Holding Ltd's (BABA.N) service Youku Tudou Inc. It plans to offer 125 million American depositary shares priced at $17 to $19 each, the company said in a filing to the U.S. Securities and Exchange Commission. IQiyi, which will list on the Nasdaq, said it expects to use about half of the proceeds to broaden and enhance its content offering while 10 percent would be earmarked to strengthen technology.
Economist Mickey Levy has a very positive perception of the current U.S. economy and where it’s headed, as GD is up 3% this year, although it’s slated to decline in 2019. Southwest Airlines Co (NYSE:LUV) is in hot water over a flight fiasco, while AT&T Inc. (NYSE:T) and Twitter Inc (NYSE:TWTR) are facing major changes moving forward. The company has been trying to make a merger with Time Warner Inc (NYSE:TWX) happen, but the government stands in the way of such a move, which could have a massive effect on the market and regulators.
Former Secretary of State Rex Tillerson put a break on President Donald Trump's desire to tear up the Iran nuclear deal. Rather than go against his top diplomat's advice, the president got rid of him, making it more likely that he will now pull the U.S. out of the agreement as early as May 12, the next deadline for him to extend the waiver on the sanctions that are suspended by it. The State Department doesn't seem to be entirely behind killing it. “We believe we can work within the nuclear deal,” Brian Hook, director of policy planning, said after Friday's quarterly meeting of the joint commission overseeing the 2015 agreement. If his former boss's fate is anything to go by, Hook's time at Foggy
Moti Group is preparing to double its investments in Zimbabwe to $500 million after the removal of Robert Mugabe as president in November saw the government adopt a more open approach to foreign companies. Emmerson Mnangagwa, 75, who replaced Mugabe after the military briefly took control, has declared that “Zimbabwe is open for business” and has said he will ease the country’s local ownership rules and re-engage lenders such as the International Monetary Fund. He is faced with an economy that has halved in size since 2000, a cash crisis that limits withdrawals from banks and an inability to pay government workers on time. In partnership with Sakunda Holdings, a Zimbabwean company whose head
Here are some of the companies with shares expected to trade actively in Monday’s session. Stock movements reflect premarket trading. —Down 4.3%: The social-media giant ignited a firestorm over how it manages third-party access to its users’ information, after the social network said a firm with ties to the 2016 Trump campaign improperly kept data for […]
Who believes U.K. commercial property is worth what the experts say? Certainly not the shareholders. Their doubt has tempted Paris-based landlord Klepierre SA to have a go at buying Hammerson Plc, owner of some of Britain's top malls. Hammerson's defenses look weak. In December, the British company agreed to buy fellow London-listed property group Intu Properties Plc. Its shares subsequently fell by about 20 percent before Klepierre -- chaired by property magnate David Simon -- made a bid approach on March 8. Hammerson said no. Source: Bloomberg The 4.9 billion pound ($6.9 billion) proposal is pitched 41 percent above Hammerson's market capitalization last week, the kind of premium that would
The move would knock $23.8 billion off the social network's market value of $538 billion as of Friday's close and shares in other social media companies including Twitter Inc and Snap Inc also dipped in early deals in New York. One Wall Street analyst said the reports raised 'systemic problems' with Facebook's business model and a number said it could spur far deeper regulatory scrutiny of the platform.
Deal drama continues to envelop Qualcomm Inc. (QCOM) , as former Executive Chairman Paul Jacobs explores taking the mobile chip maker private. The San Diego chip maker said late Friday that it would not re-nominate Jacobs, the son of Qualcomm co-founder Irwin Jacobs, after he notified Qualcomm that he might attempt to buy the company. Shares of Qualcomm gained 0.8% to $61.28 after hours on Friday, but were trading down 0.5% early Monday. The Financial Times reported earlier that Jacobs had approached investors including Masayoshi Son's Softbank Corp (SFTBY) . While the bid would take Qualcomm out of the public markets and remove the possibility of another hostile bid, the San Diego company is
Luke Thomas, 44, an information technology field manager who lives in Miami, began investing in the U.S. stock market in his early 20s, attracted by the prospect of learning “how to grow a little bit of money into a lot,” he said.
While the market was down modestly over the last five trading days, it was really just treading water ahead of the upcoming Federal Open Market Committee meeting and digesting the latest news emanating from Washington. With just nine days of trading left in the quarter, the Nasdaq Composite Index is leading the charge higher in 2018, up more than 8% year to date. During the last few days, we've gotten several pieces of economic data that, together with others from the last few weeks, have led the Atlanta Fed to downgrade its GDP view for the first quarter to 1.9% from its robust forecast of more than 5% at the start of the quarter.
Facebook was in the spotlight as government officials in the U.S. and Europe were demanding answers from the company after reports that Cambridge Analytica, the advertising-data firm that helped Donald Trump win the U.S. presidency, retained information on tens of millions of Facebook users without their consent. Apple suppliers including Samsung and LG Display fell in Asia as the iPhone maker was said to be producing its own displays for the first time.
The New York state Public Service Commission has ruled that power companies can charge higher rates to cryptocurrency mining operations, which have moved into the state's north to take advantage of low-cost hydropower. The New York Public Service Commission said the decision was needed "to prevent local electricity prices for existing residential and business customers from skyrocketing." According to the commission, cryptocurrency mining operations can use “thousands of times” more than an average residential customer, and in some cases account for 33 percent of municipal utilities’ total demand, without commensurate local economic benefits. This "proof of work" process is part of the security structure of digital currencies like Bitcoin.
It has been about a month since the last earnings report for Enbridge Inc ENB. Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts. Enbridge reported strong fourth-quarter 2017 results, courtesy of higher liquid delivery volumes from the Canadian Mainline and Wood Buffalo Extension Pipeline.