(Reuters) – Zoom Video Communications Inc raised its annual revenue forecast by more than 30% after comfortably beating quarterly estimates on Monday as it converts more of its huge free user base to paid subscriptions. Shares of Zoom, which have surged almost... More »
(Reuters) – Warren Buffett’s Berkshire Hathaway Inc (BRKa.N) said on Friday it has sold shares of some of the largest U.S. banks, slashing its stakes in Wells Fargo & Co (WFC.N) and JPMorgan Chase & Co (JPM.N) and exiting an investment in Goldman Sachs Group I... More »
SEOUL (Reuters) – Hyundai Motor Co (005380.KS) stock jumped as much as 10.2% on Monday to its highest price since May 2018, after the automaker said it would create a family of Ioniq-brand electric vehicles (EVs) as it aims to become the third-largest EV maker... More »
LONDON (Reuters) – Britain is closely watching rises in coronavirus cases in other European destinations such as France and Germany after slapping a 14-day quarantine on travellers from Spain at the height of the summer vacation season. The imposition of a Bri... More »
(Reuters) – Hasbro Inc (HAS.O) missed analysts’ estimates for quarterly earnings and revenue on Monday, as production shutdowns due to the COVID-19 pandemic crimped the toymaker’s efforts to cash in on strong demand for its board games. The company’s shares, w... More »
PARIS (Reuters) – Ubisoft (UBIP.PA) shares dropped 9% on Monday after the French video games group said over the weekend that three senior managers were leaving the company following a review into allegations of inappropriate behaviour. Ubisoft, which makes ga... More »
(Reuters) – A stock rebound marked by Wall Street’s strongest quarter in more than two decades has slowed in recent weeks, as a resurgence in coronavirus cases threatens to derail the economy’s recovery from a deep downturn. With the S&P 500 up 18% in the quar... More »
SYDNEY/HONG KONG (Reuters) – Hong Kong will lead a $5 billion rescue of Cathay Pacific Airways (0293.HK), which like other airlines has been hit by a global travel slump triggered by the coronavirus pandemic. The government’s involvement in the recapitalisatio... More »
LONDON (Reuters) – Investors are bearish on stocks, especially riskier assets, and expect a slower economic recovery as the risk of a second wave of infections from the novel coronavirus persists, a BofA fund manager survey showed. World stocks have bounced ba... More »
ZURICH (Reuters) – A spike in trading volumes boosted margins for wealth manager Julius Baer (BAER.S) in the first four months of the year, even though markets slid and a strong Swiss franc ate into assets under management. Baer attributed a 16% rise in gross ... More »
(Reuters) – Chinese search engine giant Baidu Inc forecast second-quarter revenue above expectations on Monday, as businesses reopen in the world’s second-largest economy after strict lockdowns to curb the spread of the coronavirus. Baidu’s U.S.-listed shares ... More »
(Reuters) – U.S.-based stock funds posted $3.2 billion in inflows in the week ended on Wednesday, according to Lipper. U.S. taxable bond funds attracted $10.35 billion, the fifth straight weekly inflow, while money market funds drew $20.3 billion, Lipper data ... More »
(Reuters) – Logitech International (LOGN.S) reported a 13.6% rise in quarterly sales on Tuesday as more people used its computer products while working from home due to the coronavirus crisis. Logitech said demand accelerated in the three months to the end of ... More »
TOKYO (Reuters) – The runaway success of Nintendo Co Ltd’s (7974.T) island life simulator Animal Crossing: New Horizons has overshadowed an uncomfortable fact for fans of the Switch console – it lacks upcoming titles. Nintendo on Thursday said Animal Crossing,... More »
MILAN (Reuters) – Luxury sports car maker Ferrari (RACE.MI) still expects to make more than $1 billion in core profit this year, providing a relative beacon of stability in an auto industry ravaged by the coronavirus crisis. The company, known for its red Form... More »
(Reuters) – Shares of the top four U.S. airlines dropped on Monday after billionaire investor Warren Buffett said Berkshire Hathaway (BRKa.N) offloaded its entire stake in the carriers last month, adding to the sense of crisis around the industry. U.S. airline... More »
OSLO (Reuters) – Norwegian Air (NWC.OL) shareholders backed its financial survival plan on Monday, with more than 95% of votes cast supporting the conversion of nearly $1 billion of debt into equity and raising more cash from its owners. The approval follows w... More »
BERLIN (Reuters) – Adidas (ADSGn.DE) reported a 93% plunge in first-quarter profit and sales off 19%, missing forecasts, and warned of a deeper hit to second-quarter revenue as lockdowns forced the German sportswear maker and other retailers to close stores. F... More »
(Reuters) – International Business Machines Corp’s (IBM.N) clients have shifted priorities toward saving capital in recent weeks because of COVID-19, hitting software sales in particular, new Chief Executive Officer Arvind Krishna said as the company withdrew ... More »
MUNICH/LONDON (Reuters) – Shares in Europe’s insurers fell sharply on Friday after the EU regulator said they should temporarily halt payouts to shareholders during the coronavirus epidemic, although Germany backed Allianz’s decision to go ahead with a dividen... More »
(Reuters) – Bond investor and DoubleLine Capital Chief Executive Jeffrey Gundlach said on Tuesday he believes the coronavirus sell-off is not over yet and that the lows stocks hit in March will be surpassed in April due to uncertainty over the outbreak. “I thi... More »
TOKYO (Reuters) – Japanese biopharmaceutical firm Anges Inc said on Tuesday that it and Osaka University had completed development of a DNA vaccine against the new coronavirus and that it would begin testing it in animals soon. Shares of Anges surged as much a... More »
BEIJING/SHANGHAI (Reuters) – Shares in HNA Group-controlled companies rose on Monday after the Chinese aviation and tourism conglomerate said it had asked the government to help it resolve liquidity risk caused by the coronavirus outbreak which has put heavy p... More »
PARIS (Reuters) – French train maker Alstom (ALSO.PA) has confirmed it is in talks on the possible acquisition of the train business of Canada’s Bombardier (BBDb.TO), a potential $7 billion deal that could help it build scale in the increasingly competitive ra... More »
(Reuters) – NMC Health (NMC.L) said on Monday its founder BR Shetty had resigned as joint non-executive chairman, months after the UAE healthcare group was thrown into turmoil by doubts over its finances. NMC is the largest private healthcare company in the Un... More »
NEW DELHI (Reuters) – Beleaguered Indian wireless carrier Vodafone Idea (VODA.NS) will pay 35 billion rupees ($490 million) in telecoms dues to the federal government by Feb. 21, a lawyer for the company said on Monday. Hopes that Vodafone Idea could outlive t... More »
LOS ANGELES (Reuters) – Three-year-old independent film distributor Neon upstaged the traditional Hollywood studios and streaming giant Netflix Inc on Sunday to grab the coveted best picture Oscar for South Korean have-and-have-nots tale “Parasite.” The movie ... More »
(Reuters) – AstraZeneca said on Monday it will discontinue a late-stage trial for heart disease drug Epanova to treat patients with mixed dyslipidaemia and expects a $100 million writedown to hit its core profit in the fourth quarter. The biggest British drugm... More »
(Reuters) – Shares of Sarepta Therapeutics Inc (SRPT.O) soared 31% on Friday after U.S. regulators shocked Wall Street by approving the company’s treatment for a muscle-wasting disorder less than four months after rejecting the drug over safety concerns. The F... More »
NEW YORK (Reuters) – Monday’s slide in U.S. stocks prompted at least one large investors to load up big on stock options that would guard against a sharper hit to stocks into the start of next year. Shortly after the market opened on Monday, an investor paid a... More »
(Reuters) – The U.S. Food and Drug Administration on Friday approved bit.ly/2pIFzi5 Aquestive Therapeutics’ treatment for neurological disorder amyotrophic lateral sclerosis (ALS). Shares of the company, which developed riluzole oral film (ROF) and will market... More »
JOHANNESBURG (Reuters) – South Africa’s MTN Group (MTNJ.J) has signed an expanded roaming and services agreement with the country’s third-biggest carrier Cell C, MTN said on Monday, pushing shares in rival Telkom (TKGJ.J) down more than 5%. The deal puts a dam... More »
(Reuters) – AT&T Inc on Monday unveiled a three-year strategic plan that included selling up to $10 billion worth of businesses next year, paying off all its debt from the purchase of Time Warner and adding two new board members, bowing to pressure from activi... More »
(Reuters) – Johnson & Johnson said on Friday it is recalling around 33,000 bottles of baby powder in the United States after U.S. health regulators found trace amounts of asbestos in samples taken from a bottle purchased online. J&J shares fell more than 6% to... More »
LONDON (Reuters) – Shares in Wirecard sank more than 20% in early trading on Tuesday after the Financial Times newspaper published documents on the company’s accounting practices alleging an effort to inflate sales and profits, dealers said. At 0806 GMT, share... More »
VIENNA (Reuters) – Plane parts maker FACC’s (FACC.VI) operating profit fell 6% in the second quarter as it produced fewer components for the Airbus (AIR.PA) A380 and Boeing (BA.N) 737NG jets being phased out and start-up costs for new cabin interiors bit. Chin... More »
(Reuters) – Apple Inc on Friday disputed a Goldman Sachs research note which stated that the company’s plans to account for the trial of its new streaming service Apple TV+ will have a “material negative impact” on its results. “We do not expect the introducti... More »
LONDON (Reuters) – The Hong Kong Exchanges and Clearing Limited has proposed a 31.6 billion pound ($39 billion) takeover of the London Stock Exchange (LSE.L), it said on Wednesday, just weeks after the London bourse announced a plan to merge with data company ... More »
(Reuters) – The U.S. patent office will review patents on Alexion Pharmaceuticals Inc’s blood disorder treatment Soliris, after Amgen Inc challenged them, court filings showed on Friday. The move deals a blow to Alexion’s efforts to ward off competition for it... More »
NORMAN, Okla./BOSTON (Reuters) – An Oklahoma judge on Monday ordered Johnson & Johnson (JNJ.N) to pay $572.1 million to the state for its part in fueling an opioid epidemic by deceptively marketing addictive painkillers, a sum that was substantially less than ... More »
LONDON (Reuters) – Uber (UBER.N) appointed a new boss for Britain and Ireland on Monday just over a month before its licence expires in London, one of its most important global markets where the regulator has previously stripped it of its right to operate. Tra... More »
BERLIN (Reuters) – Online fashion retailer Zalando (ZALG.DE) has launched a pilot to deliver orders placed by customers in Paris on the website of Adidas (ADSGn.DE) as it extends moves to allow brands to use the logistics network it has built for its own ecomm... More »
HONG KONG/SINGAPORE (Reuters) – Cathay Pacific (0293.HK) shares were choppy in opening trade on Monday after the shock exit of CEO Rupert Hogg, as the airline grapples with mounting Chinese scrutiny over the involvement of some of its staff in anti-government ... More »
BEIJING/HONG KONG (Reuters) – Shares in Cathay Pacific Airways (0293.HK) fell more than 4% to close to a 10-year low on Monday after the Hong Kong flag carrier became caught in crosswinds between Beijing and pro-democracy groups in the Asian financial hub. Inc... More »
(Reuters) – A U.S. judge on Friday upheld two patents relating to Amgen Inc’s blockbuster rheumatoid arthritis drug Enbrel, denying a challenge by Novartis AG, which is seeking to launch a copycat version. The decision was a relief to investors concerned about... More »
NEW YORK/FRANKFURT (Reuters) – Bayer AG has not offered to pay billions of dollars to settle claims in the United States related to the Roundup herbicide, mediator Ken Feinberg said, dismissing a report to that effect which drove its shares as much as 11% high... More »
(Reuters) – Walmart Inc said on Friday it has asked employees at its stores in the United States to take down signs and playable demos of violent video games but made no changes to its policy on selling firearms. In an internal memo, Walmart also asked its emp... More »
(Reuters) – Shares of Uber Inc fell 10% in early trading on Friday after the ride-hailing service missed most Wall Street targets in its quarterly earnings report, in sharp contrast to upbeat numbers from U.S. rival Lyft Inc a day earlier. None of the Wall Str... More »
LONDON/AMSTERDAM (Reuters) – Amsterdam-based online food delivery firm Takeaway.com (TKWY.AS) has agreed to buy Just Eat (JE.L) in an all-share deal valuing the combined group, which will be one of the sector’s largest, at about 8.2 billion pounds ($10.1 billi... More »
LONDON (Reuters) – British retailer Sports Direct (SPD.L) has delayed publishing its annual results, warning problems integrating its purchase of House of Fraser stores and increased scrutiny of its accounts could affect the financial guidance it gave in Decem... More »
MILAN (Reuters) – China’s Huawei Technologies will invest $3.1 billion in Italy over the next three years, the chief executive of the telecoms giant’s Italian unit, Thomas Miao, said on Monday. Speaking at an event in Milan, Miao said Huawei would add 1,000 jo... More »
(Reuters) – An investigation is under way after a European Vega rocket failed after take-off, destroying a military observation satellite as it was about to be placed in orbit for the United Arab Emirates, European space authorities said on Thursday. The Itali... More »
(Reuters) – The U.S. Patent and Trademark Office on Monday said it would review whether Harvard University and the Massachusetts Institute of Technology can claim rights to a gene-editing technology known as CRISPR, adding fuel to a rivalry between those insti... More »
PARIS/LONDON (Reuters) – H2O, one of French bank Natixis’ asset management businesses, has sold off some illiquid assets and removed entry fees across its funds as it tries to stem outflows of customer money. The business, which contributed about 11% of Natixi... More »
FRANKFURT (Reuters) – Daimler cut its 2019 earnings outlook on Sunday after lifting provisions for issues related to its diesel vehicles by hundreds of millions of euros, sending its shares lower on Monday. Group earnings before interest and tax this year are ... More »
(Reuters) – The U.S. drug regulator on Friday approved Palatin Technologies and Amag Pharmaceuticals’ drug to restore sexual desire in premenopausal women, the latest attempt to come up with a therapy that some have dubbed as “female Viagra”. The therapy, Vyle... More »
(Reuters) – Pfizer Inc said on Monday it would buy Array Biopharma Inc for $10.64 billion in cash, a deal it hopes will help make it a leader in colon cancer and build up its pipeline of oncology drugs. The largest U.S. drugmaker agreed to pay a hefty premium ... More »
BEIJING (Reuters) – British livestock genetics firm Genus agreed on Thursday to license its know-how on virus-resistant pigs to Beijing Capital Agribusiness Co Ltd, which will seek regulatory approval for the pigs in the world’s biggest pork market. Genus has ... More »
(Reuters) – Warren Buffett’s Berkshire Hathaway Inc said it owned $860.6 million of Amazon.com Inc shares at the end of March, after the billionaire admitted to underestimating the online retailer and its Chief Executive Jeff Bezos. The size of the investment ... More »
PARIS (Reuters) – Eyewear group EssilorLuxottica said it had resolved a dispute between its feuding French and Italian partners, and would push on in its search for a new chief executive and its aims to centralize various new corporate functions. The resolutio... More »
(Reuters) – Uber Technologies Inc’s conservative initial public offering could not keep its shares from sinking in their trading debut on Friday, fueling debate on Wall Street over whether the outcome of the most anticipated listing since Facebook Inc would we... More »
LONDON (Reuters) – Short positioning on European equities was the “most crowded trade” for the second straight month in April, a survey of fund managers by Bank of America Merrill Lynch found. Investors called bearish positions on Europe a crowded trade once a... More »
LONDON (Reuters) – Global equity funds saw massive outflows this week, a sharp reversal from last week’s inflows as pessimism over economic growth gripped investors once again, driving them instead to search for yield in credit and buy safer assets like bonds.... More »
BEIJING (Reuters) – Alibaba, Tencent, Suning, and car makers including Chongqing Changan Automobile have set up a $1.5 billion Chinese ride-hailing venture, a move that could test the dominance of ride-sharing giant Didi Chuxing. Chongqing Changan Automobile s... More »
LONDON (Reuters) – Fund managers have named bearish bets in European equities as the “most crowded” trade in Bank of America Merrill Lynch’s survey for the first time in its history, suggesting sentiment for one of the world’s most shunned markets may rise fro... More »
(Reuters) – The Trump administration is working on a new payment approach for treating kidney disease that favors lower cost care at home and transplants, a change that would upend a dialysis industry that provides care in thousands of clinics nationwide. The ... More »
SAN FRANCISCO (Reuters) – The U.S. Securities and Exchange Commission (SEC) is pursuing a contempt order against Tesla Inc CEO Elon Musk, saying he violated a fraud settlement by tweeting material information without preapproval, sending the firm’s shares down... More »
HONG KONG (Reuters) – Apple Inc supplier AAC Technologies Holdings Inc saw its shares dropped 13 percent on Tuesday after the acoustic component maker said it expected first-quarter net profit to fall as much as 75 percent due to reduced orders. The Hong Kong-... More »
FRANKFURT/SINGAPORE (Reuters) – Singapore police raided the premises of German payments company Wirecard in the city state on Friday following a series of investigative reports in the Financial Times alleging fraud and creative accounting. The raid intensified... More »
(Reuters) – Drug developer UniQure NV said on Friday its gene therapy to treat hemophilia B increased the levels of a protein that helps in blood clotting after 12 weeks in a small study. The company’s shares rose 5.5 percent in light premarket trading. The up... More »
TOKYO (Reuters) – Sony Corp announced its first-ever major share buyback on Friday, worth 100 billion yen ($910 million), helping its stock recover from a hammering days earlier when investors freaked over lackluster earnings. The announcement marked Japan’s s... More »
LONDON (Reuters) – Investors pumped record high volumes of cash into emerging markets shares and bonds in the past week, Bank of America Merrill Lynch (BAML) said on Friday amid expectations U.S. monetary policy could lead to a weaker U.S. dollar. Flows into b... More »
(Reuters) – Shares of U.S. gene therapy companies sank on Thursday after drugs developed by two small firms failed to show promise in separate clinical trials, underscoring the challenges in an emerging, lucrative field of biotech. Experimental treatments deve... More »
SEOUL (Reuters) – State-owned Saudi Aramco plans to invest up to $1.6 billion for a nearly 20 percent stake in South Korean refiner Hyundai Oilbank, expanding its foothold in one of its biggest Asian buyers of crude oil. Saudi Aramco is already the biggest sha... More »
(Reuters) – Netflix Inc (NFLX.O) forecast first-quarter revenue slightly below Wall Street estimates on Thursday, even after a record quarter for new customers, sending shares of the world’s largest streaming service down 4 percent in after-hours trading. Inve... More »
MILAN (Reuters) – European shares rose on Wednesday driven by the export-oriented autos and tech sectors as optimism grew that the United States and China could avoid a full-blown trade war that would further brake a slowing global economy. The pan-European ST... More »
(Reuters) – Minnesota prosecutors will not charge the billionaire chief executive officer of China’s JD.com Inc, Richard Liu, after he was accused of rape by a University of Minnesota student during a recent U.S. visit, authorities said on Friday. Hennepin Cou... More »
CHICAGO (Reuters) – Campbell Soup Co (CPB.N) said on Friday that incoming Chief Executive Mark Clouse, a food industry veteran, could be paid as much as $7.4 million in compensation for fiscal 2019. Clouse, the former chief of frozen food maker Pinnacle Foods,... More »
(Reuters) – The U.S. Food and Drug Administration approved on Friday Alexion Pharmaceuticals Inc’s rare blood disorder drug Ultomiris, an early backing that also solidifies the company’s dominant market position. The company’s flagship drug, Soliris, was the l... More »
BEIJING/SHANGHAI (Reuters) – Tencent Holdings Ltd’s shares surged on Friday after a local regulatory official said some new video games had been cleared for sale, ending a lengthy freeze in approvals that has spooked players in the world’s largest gaming marke... More »
TOKYO (Reuters) – Hitachi Ltd (6501.T) shares rose as much as 2.9 percent on Monday after Japan’s TV Asahi reported the firm is considering scrapping its 3 trillion yen ($26.61 billion) nuclear project in Britain due to projections of further increases in cons... More »
LONDON (Reuters) – GlaxoSmithKline has agreed to buy U.S. cancer specialist Tesaro for $5.1 billion, a costly investment to rebuild the pharmaceuticals business by new Chief Executive Emma Walmsley that unnerved investors. GSK has lagged rivals in recent years... More »
NEW YORK (Reuters) – Facebook Inc (FB.O) and its chief executive Mark Zuckerberg were sued on Friday in what could be the first of many lawsuits over a disappointing earnings announcement by the social media company that wiped out about $120 billion of shareho... More »
(Reuters) – Shares of Tesla Inc (TSLA.O) fell more than 4 percent in trading before the bell on Monday, after a report that the electric car maker has turned to some suppliers for a refund of previously made payments in a bid to turn a profit. Tesla has asked ... More »
TOKYO (Reuters) – SoftBank Group (9984.T) is increasing its stake in Yahoo Japan (4689.T) through a $2 billion, three-way deal with U.S. firm Altaba (AABA.O) to deepen ties with the internet heavyweight ahead of an IPO of its telecoms unit. The transaction, wi... More »
(Reuters) – A stronger-than-expected U.S. job growth in June helped stock index futures on Friday pull back from slight declines that were triggered by United States and China slapping tit-for-tat duties on $34 billion worth of each other’s imports. Nonfarm pa... More »
(Reuters) – Japanese drugmaker Eisai Co and Biogen Inc said that the final analysis of a mid-stage trial of their Alzheimer’s drug showed positive results for patients who received the highest dose. The news sent Eisai’s shares up as much as 14.6 percent in Fr... More »
PARIS (Reuters) – Societe Generale (SOGN.PA) will buy Commerzbank’s (CBKG.DE) derivatives and asset management businesses in a move the French bank said will boost its Lyxor funds division and raise its profile in Germany, the euro zone’s biggest economy. Stil... More »
PARIS (Reuters) – Airbus (AIR.PA) shares fell on Monday after Bloomberg News reported that the European planemaker would miss its delivery target for Pratt & Whitney-powered (UTX.N) A320neo narrow-body jets this year. Airbus was down 3 percent in early session... More »
SAN FRANCISCO (Reuters) – Halfway through 2018, investing in Wall Street’s leading S&P 500 stock index has been nothing to shout about. The index of about 500 of the largest U.S. corporations has risen 1.7 percent year to date, far short of its 8 percent incre... More »
LONDON (Reuters) – Investors have sharply increased their use of hedging strategies, signaling concerns that the intensifying trade battle between the United States and China might hit economies from Germany to South Korea. Money managers say that mounting bar... More »
(Reuters) – U.S. President Donald Trump on Monday slammed Harley-Davidson Inc (HOG.N) after the motorcycle maker said it would move production for European customers overseas to avoid retaliatory tariffs that could cost it up to $100 million per year. Trump sa... More »
SAN FRANCISCO (Reuters) – U.S. semiconductor stocks slumped on Monday, including deep losses in Intel, Micron Technology and Nvidia, as new measures targeting the technology sector in President Donald Trump’s trade conflict with China triggered a wave of inves... More »
(Reuters) – Cybersecurity firm Palo Alto Networks Inc said on Friday it named former SoftBank Group Corp president Nikesh Arora as chief executive officer and chairman. Arora, 50, succeeds Mark McLaughlin, who has led the company for nearly seven years and has... More »
TOKYO/SEOUL (Reuters) – Apple Inc has decided to use OLED screens in all three new iPhone models planned for next year, according to South Korea’s Electronic Times – a report that sent shares in Japan Display tumbling 10 percent. Japan Display, one of the main... More »
COPENHAGEN (Reuters) – Shares in Danish biotech Genmab fell by as much as 25 percent on Monday after its partner Johnson & Johnson decided to ditch a study using its blockbuster cancer drug. Genmab said Janssen, a Johnson & Johnson business, had decided that t... More »
BOSTON/NEW YORK (Reuters) – Jana Partners said on Wednesday it was not invested in Casey’s General Stores Inc after speculation that the hedge fund had built a stake in the company helped push its stock price up more than 9 percent in afternoon trading. “We do... More »
(Reuters) – Symantec Corp (SYMC.O) on Monday said it did not expect an internal accounting probe that it disclosed last week to have a material impact on its past financial statements, helping allay investor concerns. The Norton anti-virus maker also provided ... More »
(Reuters) – Apple Inc’s stock hit an all-time high on Friday after Warren Buffett’s Berkshire Hathaway Inc disclosed it bought an additional 75 million shares of the iPhone maker in the first three months of the year. Buffett’s increased stake, which was confi... More »
SEOUL (Reuters) – Shares in Samsung Electronics Co Ltd (005930.KS) dipped slightly on Friday but trading activity surged after a 50:1 stock split aimed at making it easier for retail investors to buy into the South Korean technology giant. The shares were trad... More »
