General Electric will tie its train engine division to the railroad equipment maker Wabtec in deal worth about $11 billion as GE CEO John Flannery continues to break off parts of the conglomerate. Wabtec CEO Raymond Betler will lead the combined company and its chairman, Albert Neupaver, will be executive chairman. Under the deal announced Monday and approved by the boards of both companies, General Electric Co. will get $2.9 billion in cash.
Per Bloomberg, BP plc BP and ConocoPhillips COP are in talks over an asset swap deal. Per the agreement, BP will raise stake in the North Sea Clair field, offshore U.K., in exchange of its assets in Alaska.BP is contemplating to acquire ConocoPhillips
Workplace retirement plans get a lot of bad press, primarily if they are loaded with high fees. Put simply, 401(k)s work. The bad news is that otherwise-diligent savers can still leave money on the table with a 401(k), often without realizing it.
Only a few years ago, marijuana was seen as a ‘’gateway drug’’. Flash forward to today: cannabis is a huge business, one that could be worth $25 billion in the U.S. alone by 2020, and analysts expect demand to skyrocket as new laws are passed and social attitudes change. In the United States, the legal cannabis industry is worth $6.7 billion, according to Bloomberg.
It has been about a month since the last earnings report for General Electric Company GE. Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts. General Electric started 2018 on a robust note as it reported first-quarter 2018 adjusted earnings of 16 cents per share, which beat the Zacks Consensus Estimate of 11 cents.
HONG KONG—Global investors looking to buy stakes in China’s most valuable private technology company are being forced to pick a side in the nation’s biggest business rivalry. Ant Financial Services Group, a financial-technology juggernaut controlled by billionaire Jack Ma, is preparing to close a $10 billion private fundraising round that would value the Hangzhou-based company at $150 billion, according to people familiar with the matter. As part of the deal, investors putting money into Ant have to agree not to invest in or raise their stakes in companies controlled by major rivals such as social-media giant Tencent Holdings Ltd. and online retailer JD.com Inc., the people said.
Ryanair Chief Executive Michael O'Leary speaks about how the price of oil is impacting his business.
2018 is just about over, in the minds of some investors. "We expect investors will soon look past 2018 and focus on 2019 growth," says Goldman Sachs strategist David Kostin. "For many years, beginning in July investors would start to value stocks
Discount rivals EasyJet Plc and Ryanair Holdings Plc are shoring up their shareholder base in continental Europe in order to safeguard their right to fly there after Brexit. EasyJet, based in Luton, England, is holding investor roadshows in France and Germany this week and last week in a bid to increase the proportion of stock held within the European Union once Britain leaves. Ryanair, Europe’s biggest discount airline, said Monday that it will remove the voting rights of non-EU holders in the event of a so-called hard Brexit.
As the Treasury selloff kicks off in earnest, Citigroup Inc. says investors should prepare for a possible “normalization’’ of risk premiums across credit and emerging markets as the era of monetary distortion unravels. A bearish breakout in the world’s largest bond market remains an underestimated risk, strategists Mark Schofield and Ben Nabarro wrote in a Monday note.
Refineries, processing, petrochemical facilities and retail gasoline stations are gaining in importance, while upstream spending stalls. The WSJ reports that BP has plans to open 1,000 retail gasoline stations in Mexico and India over the next three years while ExxonMobil has massive investments tied up in refineries along the Gulf Coast. Other oil majors have similar plans, while also stepping up bets on renewable energy.
Bitcoin futures show signs that sentiment remains highAFP/Getty ImagesDMAMBMCMDMEMGPREVIEWZBZBRZDZDRZFZGZQZRZSZTZUBitcoin, the world’s biggest digital currency on Monday, traded higher, punching above $8,500 in early action. However, the digital-currency
The U.S. Supreme Court on Monday agreed to consider reviving a lawsuit by Indian villagers seeking to hold a Washington-based international financial institution responsible for widespread environmental damage they blame on a power plant it financed. The justices will hear an appeal by the villagers of a lower court ruling that the International Finance Corp was immune from such lawsuits under federal law. IFC, part of the World Bank Group, is an international institution with 184 member countries that helps secure financing for projects in developing nations.
U.S. stocks surged and the dollar strengthened against most major peers and as the Trump Administration sought to deescalate a trade rift with China. The greenback rose after Treasury Secretary Steven Mnuchin said on Sunday that the U.S. was “putting the trade war on hold,” amid progress in talks with China. “The latest agreement suggests that in the end logic will prevail” between the U.S. and China, said Athanasios Vamvakidis, Bank of America Merrill Lynch global head of G10 FX strategy, in an interview on Bloomberg Television.
Investors in TherapeuticsMD, Inc. TXMD need to pay close attention to the stock based on moves in the options market lately. What is Implied Volatility? Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other.
The departure of Baidu Inc.’s most senior operational executive threatens to derail the Chinese search giant’s ambition of placing artificial intelligence at the heart of its business. On Friday, the company stunned investors with the revelation that Microsoft Corp. veteran Qi Lu -- hired just over a year ago to accelerate its drive into everything from autonomous cars to digital assistants -- was stepping down because he could no longer work full-time in China for personal reasons. Credit Suisse Group AG became among the first to raise a warning flag when it downgraded the stock.
and its Google search business were playing scapegoat this weekend. The tech giant was the focus of a 60 Minutes segment on Sunday, May 20, titled "How Did Google Get So Big." The segment focused on "critics who say the company has stifled competition, and an antitrust enforcer who is taking action." Google shares finished down 1% on Friday on news of the segment. "Google makes the internet work.
Stocks and the dollar rose but gave up some gains on Monday after the U.S.-China trade war was declared "on hold", while in Europe Italy's borrowing costs climbed and the Milan bourse retreated as two anti-establishment parties got closer to power. "There's certainly a 'feel-good' sentiment on risky assets" due to the U.S. trade announcement, said Stephane Barbier de la Serre, a strategist at Makor Capital Markets. U.S. Treasury Secretary Steven Mnuchin declared the U.S. trade war with China "on hold" following an agreement to drop their tariff threats that have roiled global markets this year.
The Dow Jones Industrial Average is soaring this morning as the trade war between China and the U.S. cools down, and General Electric (GE) announces a deal for its transportation unit. S&P 500 futures have risen 0.6% at 8:48 a.m. today, while Dow Jones Industrial Average futures have climbed 214 points, or 0.9%. Nasdaq Composite futures have gained 0.8%.
Applied Materials Inc. led semiconductor-related stocks to losses Friday and to a weekly decline after the chip-maker materials supplier’s outlook indicated a possible slowing in the recently hot sector. Applied Materials (AMAT) shares fell 8.3% to close at $49.51, after hitting an intraday low of $48.53, as analysts were split on target price moves after the company’s sales outlook was lighter than Wall Street expected. For the week, shares of Applied Materials are down 9.7%, the SOX index swung to a weekly loss of 0.4%, and the S&P 500 (^GSPC) finished down 0.5%.
It has been about a month since the last earnings report for Philip Morris International Inc. PM. Shares have lost about 5.4% in that time frame. 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. Philip Morris delivered a beat in first-quarter 2018 after missing earnings estimates five straight times.
Gold fell victim to surging U.S. Treasury yields, a stronger dollar and the easing of geopolitical tensions, falling sharply lower last week. The 10-year yield briefly hit 3.128 percent, its highest level since July 8, 2011 when the note yielded as high as 3.184 percent. The U.S. Dollar put in a stellar performance against a basket of major currencies last week, bolstered by solid U.S. economic data, rising U.S. Treasury yields and a weak performance in the Euro.
Out of stock ideas? Might want to play the top trades of the hedgies. While the average equity hedge fund has returned a decent 2% year to date says Goldman Sachs (S&P 500 Index flat), their top positions are out-performing. Funds have made few changes
shares rose firmly in pre-market trading Monday amid reports the industrial is ready to merger its transportation business with rail equipment maker Wabec Corp. Reuters reported over the weekend that the deal, which would be the biggest move under new CEO John Flannery, would match the $4.7 billion in GE transport revenues with the $9.2 billion market value of locomotive, freight and marine diesel engine equipment maker Westinghouse Air Brake Technologies Corp., also known as Wabtec. GE shares were marked 2.2% higher in pre-market trading in New York, indicating an opening bell price of $15.30, a move that would still leave it with a year-to-date decline of 12.2%.