(Reuters) – Lower-than-expected holiday iPhone sales and a weak revenue forecast by Apple Inc renewed fears about Chinese demand and a tepid global market, wiping 8 percent off company stock. This year was to have been Apple Inc’s watershed moment in China, wh... More »
(Reuters) – Apple Inc missed Wall Street’s lofty target for iPhone sales over the crucial holiday shopping season and offered a weaker-than-expected forecast for this quarter, sending its shares down 8 percent on Monday. The world’s most valuable technology co... More »
NEW YORK (Reuters) – Options traders are bracing for about a 10 percent move up or down in Netflix Inc shares after the video streaming service reports results after the closing bell on Wednesday. Bearish bets in the options market had been picking up in recen... More »
FRANKFURT (Reuters) – Deutsche Bank (DBKGn.DE ) shares tumbled on Monday following a surprise fourth-quarter loss due to a steep drop in debt trading revenues and heavy litigation and restructuring costs that prompted the bank to warn of a challenging 2014. Ge... More »
RIYADH (Reuters) – Companies in Saudi Arabia will favor local debt markets over international bond issues to meet their financing requirements in 2014 as high liquidity keeps funding costs down, a top executive at Deutsche Bank (DBKGn.DE ) said. Saudi firms ha... More »
NEW YORK (Reuters) – Best Buy Co Inc (BBY.N ) reported a drop in total revenue and sales at its established U.S. stores in the all-important holiday season, sending shares tumbling more than 30 percent in early trading. The retailer cited intense discounting b... More »
MILAN (Reuters) – Fiat’s $4.35 billion deal to gain full control of Chrysler Group LLC sent its shares to a near 2-1/2-year high on Thursday, despite doubts over whether the Italian carmaker could use the merger to cut losses in Europe. Investors welcomed the ... More »
SEOUL (Reuters) – Samsung Electronics Co Ltd fell more than 5 percent on Thursday to its lowest in over four months, weighed down by analysts’ forecasts of lower quarterly earnings due to the strong won currency and weaker margins at its display business. Shar... More »
(Reuters) – Seagate Technology Plc said it would buy network and storage equipment maker Xyratex Ltd for about $374 million to strengthen its supply and manufacturing chain for disk drives. Xyratex shares were up 27 percent at $13.25 per share in morning tradi... More »
NEW YORK (Reuters) – Ford Motor Co (F.N ) said Wednesday it expects lower pretax profit in 2014 and that its target for global automotive operating margin is at risk, due to economic conditions in Europe and South America, driving Ford shares down more than 4 ... More »
(Reuters) – Cubist Pharmaceuticals Inc said its experimental antibiotic for treating abdominal infections was found as effective as a widely used antibiotic in a late-stage trial. The company’s shares rose about 8 percent to $68 in premarket trading. Cubist’s ... More »
(Reuters) – British chip designer ARM Holdings Plc’s shares rose as much as 5.5 percent after a media report that Google Inc was considering using ARM’s chips to design its own server processors. By using its own designs, Google could better manage the interac... More »
(Reuters) – Adobe Systems Inc, the maker of Photoshop and Acrobat software, forecast current-quarter results below analysts’ estimates but reported a 22 percent jump in the number of subscribers to its Creative Cloud suite from the preceding quarter. The compa... More »
LONDON (Reuters) – Royal Bank of Scotland (RBS.L ) chief Ross McEwan faced a fresh management headache on Wednesday as the surprise departure of Finance Director Nathan Bostock created a senior vacancy as the group attempts to navigate through a period of uphe... More »
(Reuters) – Shares of Scripps Networks Interactive soared more than 11 percent after the market closed on Tuesday on a news report that Discovery Communications is considering a bid for the sought-after cable company. Discovery’s board discussed making a possi... More »
(Reuters) – Hedge fund Hayman Capital has taken a stake in General Motors Co and believes the U.S. automaker’s stock could rise more than 40 percent over the next 12-18 months after the U.S. Treasury sells its stake in the company, a source familiar with inves... More »
SEOUL (Reuters) – Hyundai Motor Co (005380.KS ) could be one of the biggest losers from surging sales of Japanese cars in China as the South Korean automaker’s problems spread from the United States to the world’s largest auto market. Hyundai’s total overseas ... More »
(Reuters) – Hewlett-Packard Co shares soared near their 52-week high on Wednesday after investors saw signs a turnaround plan was gaining traction, but Wall Street worried the improvement was coming at the expense of margins. HP shares jumped nearly 10 percent... More »
(Reuters) – Distributor Lions Gate Entertainment Corp’s shares fell as much as 8.5 percent after the “The Hunger Games: Catching Fire” failed to match the sky-high expectations of some box office forecasters despite a chart-topping domestic debut. The second i... More »
(Reuters) – Activist investor Bill Ackman’s Pershing Square hedge fund has invested half a billion dollars to acquire stakes of nearly 10 percent each in Freddie Mac and Fannie Mae, the latest big investor this week to buy into the mortgage finance companies. ... More »
(Reuters) – Cisco Systems Inc’s shares were set to open about 13 percent lower after the network equipment maker forecast a steep drop in revenue, prompting at least two brokerages to downgrade its stock and 12 to cut their price targets. The company said on W... More »
(Reuters) – Wal-Mart Stores Inc on Thursday reported its third straight quarterly decline in U.S. comparable sales, hurt by a drop in shopper visits, and the world’s largest retailer gave a disappointing profit forecast for the holiday season. The company said... More »
TAIPEI (Reuters) – Shares of Acer Inc fell by their daily limit on Wednesday after the company announced a restructuring plan with a new chief executive and a 7 percent reduction of its workforce after a worse-than-expected quarterly loss. Acer shares opened d... More »
ZURICH/LONDON (Reuters) – UBS (UBSN.VX ) and Credit Suisse (CSGN.VX ) would have to hold far more capital than international rivals if Swiss lawmakers push ahead with proposals to impose even tougher rules to curb borrowing on the country’s banks. The potentia... More »
LONDON (Reuters) – Shares in Vodafone Group rose on Friday after a media report that U.S. mobile operator AT&T was exploring strategies for a potential takeover of the British telecoms firm. AT&T Chief Executive Randall Stephenson has said there is a “huge opp... More »
SEOUL (Reuters) – Shares in Samsung Electronics rose 2 percent on Monday, driven by expectations that the South Korean technology giant will continue to post solid earnings after its record-high profit in the July to September period, analysts said. Some analy... More »
(Reuters) – Strong subscriber gains by Netflix Inc prompted analysts to sharply raise price targets on the stock, even as some worried that the shares are getting expensive as the online online video company faces bigger bills for original programs. Netflix sh... More »
SAN FRANCISCO (Reuters) – Google Inc shares jumped past $1,000 on Friday as investors bet on the Internet company’s continued dominance of the mobile and video advertising businesses despite aggressive competition from Facebook Inc and Yahoo Inc. Shares of the... More »
JOHANNESBURG (Reuters) – South Africa’s third-largest mobile operator Cell C on Wednesday lodged an antitrust complaint against MTN Group and Vodacom, charging its bigger rivals with “discriminatory pricing”. Unlisted Cell C said in a statement it had lodged t... More »
TORONTO (Reuters) – Shares of BlackBerry Ltd rose 4 percent on Monday, following news of potential interest from strategic buyers in the embattled smartphone company and an analyst upgrade on the company’s stock. Shares in the company rose to $8 in morning tra... More »
SAN FRANCISCO (Reuters) – When Facebook Inc was preparing to go public last year, the telephones at Granite Investment Advisors rang off the hook as clients called about the social media’s company’s highly anticipated debut. In stark contrast, the investment c... More »
TORONTO/NEW YORK (Reuters) – The possibility of a second offer for BlackBerry Ltd reversed a slide in its stock price on Wednesday after the struggling smartphone maker said it expected to record $400 million in pre-tax charges related to cuts announced last m... More »
TORONTO (Reuters) – Fairfax Financial Holdings Ltd Chief Executive Prem Watsa said on Wednesday he is confident the consortium he leads can find the money to fund its $4.7 billion bid for smartphone maker BlackBerry Ltd. “We wouldn’t put our name to such a hig... More »
TORONTO/NEW YORK (Reuters) – Shares in BlackBerry Ltd fell more than 6 percent on Wednesday on doubts about a $4.7 billion bid to take the smartphone maker private, and after a big U.S. carrier said it would stop stocking BlackBerry smartphones in its stores. ... More »
(Reuters) – General Mills Inc (GIS.N ) reported higher-than-expected quarterly sales on Wednesday due to the addition of new products and businesses, and the maker of Cheerios cereal and Progresso soups affirmed its fiscal-year earnings outlook. The company al... More »
(Reuters) – Network equipment maker Cisco Systems Inc is cutting 4,000 jobs, or 5 percent of its workforce, as it makes a fresh attempt to reduce costs and refocus on growth areas in the face of uncertain demand for its networking equipment. Shares of the worl... More »
(Reuters) – Network equipment maker Cisco Systems Inc is cutting 4,000 jobs, or 5 percent of its workforce, as it makes a fresh attempt to reduce costs and refocus on growth areas as it faces uncertain demand for its networking equipment. “The environment in t... More »
SAN FRANCISCO (Reuters) – Groupon Inc named co-founder Eric Lefkofsky its chief executive and reported a record quarter for its North American business, signaling growing momentum in its comeback effort, and its shares rose almost 20 percent. The company, whic... More »
(Reuters) – Nuance Communications Inc (NUAN.O ), whose software powers the Siri voice feature in Apple Inc’s (AAPL.O ) iPhone, cut its forecast for the year as some of its mobile customers delayed contracts, sending its shares down nearly 8 percent. The compan... More »
NEW YORK (Reuters) – IntercontinentalExchange Inc, which is in the process of buying NYSE Euronext for $8.2 billion, reported a 7 percent rise in second-quarter profit on Tuesday, helped by higher energy futures volumes and credit default swap clearing. Net in... More »
MILAN (Reuters) – Italian broadcaster Mediaset shares were down more 4 percent on Friday in early trade after its controlling shareholder former Prime Minister Silvio Berlusconi was convicted of tax fraud. Berlusconi on Friday said he was innocent. “The court’... More »
MUMBAI (Reuters) – India’s Wipro Ltd (WIPR.NS ) shares surged as much as 5.9 percent on Monday, after the software services exporter issued dollar revenue guidance that was above estimates. Wipro said on Friday it expects revenue from IT services business for ... More »
(Reuters) – Apple Inc shares opened about 5 percent higher on Wednesday after the technology company’s third-quarter profit beat analysts’ expectations due to stellar sales of its iPhones. The world’s largest technology company said it sold 31.2 million iPhone... More »
SAN FRANCISCO (Reuters) – Sales of Apple Inc’s iPhone trumped Wall Street estimates after U.S. shipments soared 51 percent in the third quarter, lifting its stock 5 percent even as profit fell. The world’s largest technology company said Tuesday that profit fe... More »
HONG KONG (Reuters) – Shares of ZTE Corp, China’s second-largest telecommunications equipment maker, jumped over 20 percent in late trade on Tuesday after it forecast a first-half profit and announced plans to issue share options to staff. ZTE’s Hong Kong-list... More »
SEATTLE (Reuters) – Microsoft Corp on Thursday reported lower-than-expected quarterly earnings as slow personal computer sales ate into its Windows business and the company took an unexpected $900 million charge for its inventory of unsold Surface tablets. The... More »
NEW YORK (Reuters) – Billionaire activist investor Carl Icahn said on Wednesday he is “feeling good” about his bet on computer maker Dell Inc while criticizing the company’s board for being dysfunctional. Speaking at the CNBC Institutional Investor Delivering ... More »
(Reuters) – Shares of credit card company American Express Co (AXP.N ) fell as much as 5 percent on heavy volume on Wednesday, following the European Commission’s plans to limit fees banks can charge to process card payments. The commission will propose cappin... More »
TOKYO (Reuters) – Standard & Poor’s cut SoftBank Corp’s (9984.T ) debt rating two notches to “junk” grade, citing financial risks from its $21.6 billion purchase of U.S. wireless carrier Sprint Nextel Corp (S.N ) and Sprint’s proposed buyout of Clearwire Corp ... More »
SEOUL (Reuters) – Samsung Electronics Co Ltd’s shares extended falls to more than 4 percent after its second-quarter earnings estimates released on Friday failed to meet market forecasts, fuelling concerns about growth in its smartphone business. Shares in Sam... More »
(Reuters) – Shares of Dell Inc fell more than 3 percent on Friday, as investors grew skeptical that founder Michael Dell and Silver Lake Partners will raise their $24.4 billion buyout bid in order to overcome growing opposition. A deteriorating outlook for the... More »
(Reuters) – Wall Street rewarded Rupert Murdoch’s move to create a separate entertainment company, giving 21st Century Fox one of the richest valuations in the media sector on its first day of trading. Investors had waited for Murdoch to split News Corp, givin... More »
HELSINKI (Reuters) – Nokia shares surged on Monday after it announced plans to buy out Siemens AG’s share of their network equipment joint venture, betting on the technology to run 4G networks as it struggles in the smartphones business. Loss-making Nokia gain... More »
SEOUL (Reuters) – Shares in Samsung Electronics Co Ltd slumped 3 percent to nine-month lows on Wednesday, as investors braced for weaker-than-expected earnings from the smartphone maker for the April-to-June period. Shinhan Investment Corp joined a number of b... More »
(Reuters) – Barnes & Noble Inc will stop manufacturing its own Nook tablets, marking the end of its expensive attempt to compete alone with deep-pocketed rivals Amazon.com Inc, Apple Inc and Google Inc in the tablet wars. The top U.S. bookstore chain reported ... More »
(Reuters) – News Corp’s publishing and entertainment arms began trading separately on a preliminary basis on Wednesday, one of the last steps before Rupert Murdoch’s company officially splits in two on June 28. Shares of the new News Corp, the publishing arm t... More »
(Reuters) – Gannett Co Inc shares soared 27 percent to a five-year high after the largest U.S. newspaper chain struck a $1.5 billion deal for television company Belo Corp, dramatically increasing TV’s importance to Gannett’s results. Gannett’s surge nearly equ... More »
MILAN (Reuters) – Saipem’s (SPMI.MI ) share price fell by as much as 25 percent on Monday, after Europe’s biggest oil industry services group gave its second major profit warning in less than six months due to problems with contracts in Algeria, Mexico and Can... More »
COPENHAGEN (Reuters) – U.S. regulators refused to approve Novo Nordisk’s new long-acting insulin Tresiba until it conducts extra tests for potential heart risks, dealing a major blow to a key product for the Danish drugmaker. Shares in Novo, the world’s leadin... More »
(Reuters) – A surge in subscription revenue – mostly digital – let The New York Times Co easily surpass expectations last quarter giving a positive start to the company’s new chief executive officer, Mark Thompson. Shares rallied as much as 15 percent to highs... More »
(Reuters) – Rupert Murdoch’s News Corp on Wednesday reported higher quarterly revenue and profit on strong growth at its cable assets including its Regional Sports and FX networks. But the rosy quarterly figures – revenue and profit beat expectations – masked ... More »
(Reuters) – News Corp reported higher quarterly revenue and profit on Wednesday on strong growth at its cable networks. The media conglomerate, controlled by Rupert Murdoch, said revenue rose 5 percent to $9.43 billion for the quarter that ended in December. A... More »
LOS ANGELES/NEW YORK (Reuters) – Netflix Inc impressed Wall Street with a surprisingly strong holiday quarter that eased near-term concerns about its costly international expansion and its movie and TV bill, sending its shares skyrocketing 42 percent. The jump... More »
(Reuters) – An experimental drug to combat amyotrophic lateral sclerosis, commonly called Lou Gehrig’s disease in the United States, failed to work in an important trial and Biogen Idec said it would stop development of the treatment. The drug, dexpramipexole,... More »
(Reuters) – Discovery Communications reported a lower-than-expected quarterly profit on Tuesday, hurt by losses at the Oprah Winfrey Network (OWN), sending its shares down 6.5 percent. OWN, the joint venture with the “queen of talk” that is struggling with lac... More »
LOS ANGELES (Reuters) – Video rental company Netflix Inc projected slower subscriber growth this quarter for its key U.S. video-streaming service, disappointing investors and sending its shares down 17 percent after hours. While Netflix reported a first-quarte... More »
