October 31, 2017 11:07 am
Deutsche Bank was reported to have revised down its price target for General Electric Company (GE) to $18 from $21, as, in its view, it may take years for the conglomerate to cope with “operational and cultural challenges and establish a firm foundation from which the company can grow on a sustained basis”. Deutsche Bank […]
Read moreOctober 31, 2017 9:28 am
Exxon Mobil Corporation (XOM) was reported to have exited a major liquefied natural gas project in Pakistan. Exxon’s decision came as a result of ”issues with partners”, and more specifically Turkish developer Global Energy Infrastructure Limited (GEIL), according to Reuters. While citing government officials and industry sources, the same media also reported that emerging differences […]
Read moreOctober 30, 2017 10:31 am
On Sunday Chevron Corporation (CVX) said it had dropped plans to sell three subsidiaries and leave Bangladesh. According to Nasrul Hamid, the states junior minister for power, energy and mineral resources, the company will instead invest $400 million at Bibiyana, the largest gas field in the South Asian country. Chevron shares closed lower during the […]
Read moreOctober 30, 2017 8:26 am
Evercore ISI was reported to have downgraded Tesla Inc (TSLA) from “Outperform” to “In-Line” due to uncertainty over production of the companys Model 3. The firm also revised down its price target for the stock to $312 from $330. Tesla shares closed lower for the fifth time in the past seven trading sessions on Friday. […]
Read moreOctober 27, 2017 12:16 pm
Shares of Ford Motor Company (F) marked their best daily performance in three weeks yesterday, after the auto maker reported better-than-anticipated third-quarter earnings, with sales of high-margin pickup trucks in the United States being the main driving factor. The company also announced plans for tests of autonomous vehicles in some cities in 2018 without disclosing […]
Read moreOctober 27, 2017 8:20 am
Shares of Twitter Inc (TWTR) marked their best daily performance in 13 months yesterday, following the release of better-than-anticipated third-quarter results. Twitter shares closed higher for the first time in the past nine trading sessions on Thursday. It has also been the sharpest daily surge since September 23rd 2016. The stock went up 18.49% ($3.17) […]
Read moreOctober 26, 2017 11:29 am
According to a statement by Carmen Haddad, Chief Executive Officer of Citi Saudi Arabia, the group intends to hire 20 bankers in the Middle Eastern state, where it acquired an investment banking license earlier this year. Citigroup shares closed lower for the first time in the past four trading sessions on Wednesday. It has also […]
Read moreOctober 26, 2017 8:18 am
Coca-Cola’s third-quarter revenue and earnings, reported on Wednesday, exceeded market expectations, as the companys sales in North America rose 3%. Cokes more aggressive approach to juice, tea and vitamin water sales as well as its cost reduction efforts seemed to have facilitated the expansion of its market share in key regions. Coca-Cola shares closed lower […]
Read moreOctober 25, 2017 10:09 am
Lockheed Martin Corporations (LMT) third-quarter earnings and revenue, reported on Tuesday, fell short of market expectations. The company also cut its full-year 2017 earnings forecast. Lockheed Martin shares closed lower for the first time in the past four trading sessions on Tuesday. It has been the sharpest daily loss since December 12th 2016. The stock […]
Read moreOctober 25, 2017 7:33 am
On Tuesday McDonald’s Corporation (MCD) reported higher-than-anticipated third-quarter restaurant sales, as aggressive promotions such as $1 soda deals and new initiatives such as build-your-own burgers facilitated an increase in customer visits for a third consecutive quarter. McDonald’s shares closed higher for the fourth time in the past six trading sessions on Tuesday. The stock edged […]
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