WPP Plc shares had their biggest drop in 17 years.Read More »
Before agreeing to the $13.7 billion offer, Whole Foods had been under intense shareholder pressure to improve results and retain customers who have more choices about where to get natural foods. Approval from Whole Foods shareholders on Wednesday is one of the steps required to close the deal. Amazon announced plans to buy Austin, Texas-based Whole Foods Market Inc. in June.
The stock market seemed to be under a great deal of pressure on Aug. 10. Important support for the S&P 500 index SPX, +0.99% at 2460 had just been broken, and it appeared that a test of much more major support at 2400 was going to unfold. But on Monday, Aug. 14, a very strong rally materialized, taking SPX back above 2460 and into its previous trading range (2460-2480). Simultaneously, a number of buy signals have occurred, including the VIX “spike peak” buy signal and the “VXST crossover” buy signal. I found it very surprising that the market was able to put the brakes on the correction so quickly. But one cannot ignore the indicators. The upward shift had left support at 2437 — the lows of
Pratt & Whitney’s $10 billion bet on a new jet engine is faltering after a troubled rollout, and buyers are rushing to a General Electric Co. model instead. The GE turbine has won 10 times as many orders this year to power a narrow-body Airbus SE plane on which the two suppliers compete head to head. Pratt has signed just one buyer in that span to supply its geared turbofan engine for the aircraft, according to data provided to Bloomberg by Flight Ascend Consultancy. The figures paint a stark picture for Pratt and parent United Technologies Corp., which billed the so-called GTF as a technological breakthrough that was supposed to help reverse GE’s recent market dominance. Instead, weak demand