TOKYO Shares in Nintendo Co tumbled as much as 18 percent on Monday after the company said Pokemon GO would have a limited impact on its earnings – their biggest setback so far after a huge run-up on the smash-hit game. The Kyoto-based gaming company, which is... More »
NEW YORK The British pound could weaken further in the next six months even if it enjoys a temporary rebound, a top BlackRock Inc investment strategist said on Friday after Britain voted to exit the European Union. “Sterling will weaken from here over the next... More »
Pfizer Inc (PFE.N) is buying Anacor Pharmaceuticals Inc (ANAC.O) in a $5.2 billion deal to add an eczema gel to its portfolio, a month after the U.S. drug major scrapped plans to buy Allergan Plc (AGN.N). Anacor shares rose 54 percent to $98.60 in premarket tr... More »
ZURICH Credit Suisse (CSGN.S) predicted on Tuesday financial markets would remain tough, after the Swiss bank started the year with a quarterly loss for the first time since 2008 amid a major restructuring. The result, which comes as Chief Executive Tidjane Th... More »
HELSINKI Nokia’s (NOKIA.HE) mobile network equipment sales fell more than expected in the first quarter and will continue to decline this year, the Finnish company said, as customers hold off new orders while it integrates its purchase of rival Alcatel-Lucent.... More »
LOS ANGELES Even as a Los Angeles judge dismissed one case brought by a former girlfriend of media mogul Sumner Redstone, she filed a new lawsuit that threatens to keep salacious allegations about the 92-year-old’s lifestyle alive. The new complaint, filed by ... More »
LOS ANGELES Media mogul Sumner Redstone never set foot in the Los Angeles courtroom where his mental competency was on trial in recent days. But the 92-year-old billionaire had the final word on Monday when Judge David Cowan, citing blunt videotaped testimony ... More »
Newspaper publisher Tribune Publishing Co (TPUB.N) said its board had adopted a shareholder rights plan – popularly known as a “poison pill” – in a bid to thwart Gannett Co Inc’s (GCI.N) unsolicited takeover offer. Tribune shares fell nearly 6 percent in morni... More »
The lackluster market debut of SecureWorks Corp, the cyber unit of Dell Inc, failed to rally the battered technology U.S. IPO market on Friday, a reminder that Wall Street does not welcome cash-burning companies without profits. “I don’t think it encourages an... More »
Viacom Inc said on Thursday it has renewed a multiyear distribution contract with satellite TV provider Dish Network Corp, lifting the media company’s shares over 11 percent. The companies had been in talks for several months over whether Dish would continue t... More »
Little-known San Jose optical-parts maker Oclaro became the face of a U.S. ban on Tuesday as its shares led telecom-components makers lower over restrictions on selling components to China’s ZTE Corp. Shares of Oclaro, the rare component maker to issue a state... More »
Chipotle Mexican Grill Inc (CMG.N), which is trying to recover from a series of food-borne illness outbreaks, temporarily shut a Massachusetts restaurant after four employees fell sick. The restaurant in the town of Billerica, outside Boston, was closed for a ... More »
NEW YORK American Express Co shares rose more than 1 percent on Monday after Fox Business News reported that the credit-card company might be acquired by Wells Fargo & Co or another financial firm. American Express shares closed up 1.2 percent at $59, after hi... More »
TOKYO Sharp Corp’s (6753.T) list of liabilities that prompted Taiwan’s Foxconn to suspend signing a takeover deal was an unverified study of worst-case scenario risks, rather than liabilities requiring disclosure, a source briefed on the matter said. The list,... More »
Hollywood studio DreamWorks Animation SKG Inc reported better-than-expected quarterly revenue and profit, helped by the worldwide television release of its movie “Home” and higher licensing fees. Shares of the company, which produced the popular “Shrek” and “K... More »
NEW YORK The tumble in share prices for biotechnology stocks has created some buying opportunities, with drugmakers Celgene Corp (CELG.O) and Gilead Sciences (GILD.O) poised for a 30 percent rise over the next year, Barron’s said. Both companies currently rely... More »
Amazon.com Inc posted its most profitable quarter ever on Thursday but the world’s No. 1 online retailer still managed to disappoint Wall Street by badly missing estimates, sending its shares down more than 13 percent in after-hours trading. The results, as we... More »
Xerox Corp (XRX.N) will split into two companies, one holding its legacy printer operations and the other its business process outsourcing unit, it said on Friday, in a bid to be more nimble after years of trying to integrate the businesses. Activist investor ... More »
BOSTON Media giant Viacom Inc said on Wednesday it cut the compensation of its top two executives, Executive Chairman Sumner Redstone and Chief Executive Philippe Dauman, as the company faced business pressures and a sharp drop in its share price. Although Via... More »
Rupert Murdoch’s News Corp said rumors about the company’s interest in buying microblogging site Twitter Inc or building a stake in it were untrue. Twitter’s shares, which rose as much as 14 percent on Wednesday, pared some gains and closed up 4.1 percent at $... More »
PARIS Sanofi boosted its presence in cancer research on Monday by signing two deals with biotech companies worth up to $1.2 billion, as the French drugmaker plays catch-up with rivals in the hot research field. Shares in French biotech group Innate Pharma, one... More »
Netflix Inc’s video-streaming service went live in more than 130 countries on Wednesday, covering almost the entire globe except China, in a huge global push by Chief Executive Reed Hastings to counter slowing growth in the United States. Shares of the company... More »
MUMBAI Shares in India’s largest drugmaker, Sun Pharmaceutical Industries Ltd, skidded more than 7 percent on Monday after U.S. regulators warned of standards violations at a key plant in the latest blow to India’s generic drug industry. The warning comes bare... More »
Walt Disney Co’s shares slumped after BTIG analyst Richard Greenfield cuts his rating to “sell” from “neutral”, saying the likely success of the latest Star Wars movie would not be enough to offset the impact of subscriber losses at ESPN. Disney’ shares fell a... More »
Business software maker Oracle Corp on Wednesday delivered a third-quarter profit forecast that did not quite meet analysts’ expectations, and the company’s shares fell about 1 percent in extended trading. Oracle forecast third-quarter profit of about 63-66 ce... More »
SAN FRANCISCO Shares of Apple (AAPL.O) dipped on Wednesday on growing expectations that the consumer technology company may sell fewer iPhones next year than previously thought. In a note to clients on Wednesday, Bank of America cut its estimate for fiscal 201... More »
Mobileye NV’s (MBLY.N) stock is “short of the year: 2016”, influential short-selling firm Citron Research said in a tweet on Wednesday, pushing down shares of the driving assistant software maker nearly 7 percent. The tweet provided a link to a report on elect... More »
SAN FRANCISCO Early praise for the newest installment of “Star Wars” gave a boost to shares of Walt Disney and Electronic Arts, which recently launched a videogame based on the hugely popular space opera. Following prequels between 1999 and 2005 that were wide... More »
SAN FRANCISCO Yahoo Inc’s board of directors on Friday is in the third and final day of meetings that could decide the future of one of Silicon Valley’s most prominent but troubled companies. One option on the table for the nine board members is whether to sel... More »
LONDON British broadband provider TalkTalk said on Sunday it had hired defense company BAE Systems to investigate a cyber attack that may have led to the theft of personal data from its more than 4 million customers. TalkTalk said on Friday it had received a r... More »
LONDON British broadband provider TalkTalk said on Saturday it did not believe the authors of a cyber attack against it this week would be able to steal money from its customers. The firm said on Friday it had received a ransom demand from an unidentified part... More »
LONDON British business leaders on Saturday urged police to make cyber crime an urgent priority following an attack on broadband provider TalkTalk, saying firms face continual security breaches. TalkTalk said the private data of its more than 4 million custome... More »
Investors questioned Netflix Inc’s premium valuation after the video-streaming service reported U.S. subscriber additions below its own expectations, a sign that competition from the likes of Hulu is intensifying. Netflix shares fell more than 9 percent to $10... More »
Video-streaming service provider Netflix Inc reported third-quarter U.S. subscriber additions below its own forecast, blaming a transition to chip-based cards for the miss. Shares of Netflix, known for its original shows such as “House of Cards” and “Orange is... More »
ZURICH Swiss bank Credit Suisse plans to tap investors for a “substantial” capital raising to fund a restructuring of the bank under new Chief Executive Tidjane Thiam, the Financial Times said on Thursday. Since taking charge of Credit Suisse in July, Thiam ha... More »
LONDON Glencore (GLEN.L) shares sank more than 10 percent to a new record low on Monday, with the mining and trading company’s drive to sell assets to cut heavy debts failing to soothe fears over slumping metals prices. Traders cited a bearish Investec note th... More »
Switzerland’s Roche has a potential new multi-billion-dollar drug to help it diversify beyond cancer treatments following the success of ocrelizumab against a hard-to-treat type of multiple sclerosis. The injectable antibody medicine is the first product to sh... More »
COPENHAGEN Shares in Novo Nordisk (NOVOb.CO) rose as much as 5 percent on Monday after the U.S. Food and Drug Administration (FDA) approved the diabetes drug Tresiba, allowing the Danish drugmaker to prepare its largest ever drug launch. The FDA’s decision lat... More »
LONDON Talks between Vodafone and Liberty Global about exchanging assets to better compete in Europe’s converging mobile, broadband and TV markets collapsed on Monday because they could not agree on the value of their businesses. Vodafone, the world’s second-b... More »
Cable network operator AMC Networks Inc was in preliminary talks to buy billionaire John Malone’s premium TV cable network Starz, Bloomberg reported. Starz’s shares rose 8 percent to $41.89 in extended trading. The company had a market value of about $4 billio... More »
ZURICH Syngenta AG, the Swiss agricultural chemicals maker, was seen opening up more than 7 percent after a source said Monsanto Co. had sweetened its takeover offer, according to premarket indicators in Zurich. U.S.-based Monsanto increased its offer to buy S... More »
Apple Inc’s Chief Executive Tim Cook took an unusual step of reassuring shareholders on Monday in comments to CNBC about the iPhone maker’s business in China ahead of a dramatic 13 percent drop and rebound in its stock that put it in positive territory. Chines... More »
Norton antivirus software maker Symantec Corp has agreed to sell its data storage unit, Veritas, for $8 billion to a group led by Carlyle Group LP as it seeks cash to turn around its core security software business. The deal, the biggest U.S. leveraged buyout ... More »
Viacom Inc reported weaker-than-expected quarterly revenue, hurt by lower advertising revenue from its U.S. cable TV business as viewers increasingly shift to online streaming services. The results add to investor concerns over the U.S. cable industry after di... More »
TOKYO Toshiba Corp’s (6502.T) chief executive Hisao Tanaka and a string of other senior officials resigned on Tuesday for their roles in the country’s biggest accounting scandal in years. Tanaka will be temporarily replaced by Chairman Masashi Muromachi after ... More »
