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U.S. accuses pair of stealing secrets, spying on GE to aid China

Tue, 04/23/2019 - 23:08
A former engineer and a Chinese businessman have been charged with economic espionage and conspiring to steal trade secrets from General Electric Co to benefit China, according to an indictment unsealed by the U.S. Justice Department on Tuesday.
Categories: Financial Media

Texas Instruments says slowdown in chip demand may continue; shares fall

Tue, 04/23/2019 - 23:04
Chipmaker Texas Instruments said on Tuesday a slowdown in demand for microchips that started late last year may last a few more quarters. The warning from the company, often seen as a bellwether for a semiconductor industry, dragged its shares 3 percent lower to $113.88.
Categories: Financial Media

Lawyer for Platinum founder says investors knew and accepted risks

Tue, 04/23/2019 - 22:56
Investors in the defunct billion-dollar hedge fund firm Platinum Partners had ample notice they might not get their money back, a lawyer for Platinum founder Mark Nordlicht told jurors on Tuesday, urging them to acquit his client of criminal fraud charges.
Categories: Financial Media

Snap restarts user growth with original shows, Android overhaul

Tue, 04/23/2019 - 22:54
Snap Inc's original shows and rebuilt Android app helped it add Snapchat users for the first time in three quarters and beat analyst revenue expectations, but that was not enough to push its shares higher after a sharp run up this year.
Categories: Financial Media

Trump, Twitter CEO chat at White House after fresh attack on social media giant

Tue, 04/23/2019 - 22:47
U.S. President Donald Trump met with Twitter Inc's Chief Executive Jack Dorsey on Tuesday, hours after attacking the social media company over his claims it is biased against conservatives.
Categories: Financial Media

Lawsuit says Tyson, Cargill, JBS conspired to suppress beef prices paid to U.S. ranchers

Tue, 04/23/2019 - 22:45
Four of the largest U.S. beef-packing companies were accused in a lawsuit on Tuesday of violating federal antitrust law by conspiring to drive down prices they paid ranchers for cattle, even as retail beef prices hovered near record levels.
Categories: Financial Media

Mnuchin says he cannot meet deadline to turn over Trump tax returns to House panel

Tue, 04/23/2019 - 22:42
U.S. Treasury Secretary Steven Mnuchin said on Tuesday he cannot comply with a demand by a House of Representatives committee to turn over President Donald Trump's tax returns "until it is determined to be consistent with law."
Categories: Financial Media

Walgreens, Rite Aid to sell tobacco products to customers above 21 years

Tue, 04/23/2019 - 22:34
Drugstore retailers Walgreens Boots Alliance Inc and Rite Aid Corp said on Tuesday they would sell tobacco products to customers who are at least 21 years old, amid a crackdown on teenage tobacco use.
Categories: Financial Media

EBay's strong quarter, robust forecast send shares 5% higher

Tue, 04/23/2019 - 21:59
EBay Inc beat analysts' quarterly revenue estimates and forecast second-quarter sales largely above expectations on Tuesday, as the company's multi-year effort to make its ecommerce platforms more user friendly attracts more customers.
Categories: Financial Media

CBS suspends search for CEO, says Ianniello to stay till December 31

Tue, 04/23/2019 - 21:57
CBS Corp said on Tuesday decided to suspend its search for a chief executive officer and said acting CEO Joseph Ianniello will continue in his role till the end of the year.
Categories: Financial Media

Record highs set by Nasdaq, S&P 500 on upbeat earnings, oil gains

Tue, 04/23/2019 - 21:52
Global equity markets rallied on Tuesday, with the Nasdaq and S&P 500 indexes setting record closing highs on Wall Street, while European energy shares posted their biggest daily gain since January as crude prices surged.
Categories: Financial Media

Softbank Group in talks to buy 5% stake in Wirecard: Bloomberg

Tue, 04/23/2019 - 21:49
Japan's SoftBank Group Corp is looking to acquire a 5 percent stake in German payments company Wirecard AG, Bloomberg reported on Tuesday, citing people familiar with the matter.
Categories: Financial Media

S&P 500, Nasdaq hit record closing highs on upbeat earnings

Tue, 04/23/2019 - 21:39
The S&P 500 index and the Nasdaq registered record closing highs after a broadbased rally on Tuesday, as a clutch of better-than-expected earnings reports eased concerns about a slowdown.
Categories: Financial Media

S&P 500 nears record high after upbeat earnings

Tue, 04/23/2019 - 20:07
The S&P 500 index moved closer to its record high on Tuesday, as a clutch of better-than-expected earnings reports eased concerns about a slowdown, sparking a broad-based rally.
Categories: Financial Media

World stocks rally, near U.S. record highs, oil gains

Tue, 04/23/2019 - 20:05
Global equity markets rallied on Tuesday as the U.S. Nasdaq and S&P 500 stock indexes marched toward record highs, while European energy shares posted their biggest daily gain since January as crude prices surged.
Categories: Financial Media

FAA paves way for Alphabet unit to make first U.S. drone deliveries

Tue, 04/23/2019 - 20:02
Alphabet Inc's Wing Aviation unit on Tuesday got the okay to start delivering goods by drone in Virginia later this year, making the sister unit of search engine Google the first company to get U.S. air carrier certification, the Federal Aviation Administration said.
Categories: Financial Media

Coke Zero Sugar, new flavors lift Coca-Cola results; shares rise

Tue, 04/23/2019 - 19:46
Strong demand for Coca-Cola Co's zero-calorie drink Coke Zero Sugar, new orange-vanilla cola and flavored waters pushed the beverage maker's quarterly sales and profit well above Wall Street estimates, sending its shares up as much as 3 percent on Tuesday.
Categories: Financial Media

Lyft's IPO banks give troubled stock a flurry of 'buy' ratings

Tue, 04/23/2019 - 19:37
Lyft Inc received some badly needed support on Tuesday, as analysts at banks that had worked on its initial public offering urged clients to buy the ride-hailing company's beleaguered shares. Following the required 25-day wait for deal underwriters to issue an investment opinion following an IPO, at least 10 of the banks that brought Lyft public gave positive recommendations on a stock that has slumped 30 percent from its opening price on March 29, its first day of trading.
Categories: Financial Media

All Wells Fargo directors elected at rowdy shareholder meeting

Tue, 04/23/2019 - 19:27
Wells Fargo & Co shareholders voted to elect all of the company-nominated directors during a rowdy meeting on Tuesday in which more than a dozen attendees were kicked out for heckling executives and board members.
Categories: Financial Media

Twitter shares jump, ascribes growth to fight against abuse

Tue, 04/23/2019 - 19:17
Shares in Twitter Inc jumped 13 percent on Tuesday after the social media company reported quarterly revenue above analyst estimates, which executives said was the result of weeding out spam and abusive posts and targeting ads better.
Categories: Financial Media

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