Stock News

Goldman Sachs shares close lower on Tuesday, Wall Street bank to open a new office in Birmingham

Goldman Sachs Group Inc (GS) said on Tuesday that it intended to open a new office in the city of Birmingham, as it seeks to expand its office space in Britain at a moment when other banks are doing quite the opposite because of the coronavirus crisis. According to Goldman, the first employees are to […] Read more

Toshiba shares gain for a third straight session on Wednesday, key shareholder calls for alternatives to CVC bid

According to a statement by Toshiba Corp. (6502), one of its key shareholders is calling for the consideration of other offers from potential suitors following CVC Capital Partners’ buyout bid of $20 billion. US hedge fund Farallon Capital Management said that the Japanese company should consider “the privatisation proposal in a sincere manner through a […] Read more

McDonald’s shares close higher on Friday, company to expand Texas staff by 25,000 this month

McDonald’s Corp (MCD) said last week that it planned to hire as many as 25,000 people at its restaurants across the US state of Texas this month. McDonald’s said it would hire for crew and management roles during a three-day event between April 13th and April 15th. In 2020, the company hired nearly 260,000 restaurant […] Read more

Shell’s first-quarter fuel sales likely to drop, fuel retailer says

Royal Dutch Shell said on Wednesday that it projected a drop in its fuel sales during the first quarter, which indicated fuel demand recovery was still sluggish due to the re-imposition of COVID-19-related restrictions in some parts of the globe. The fuel retailer said that it now expected refined oil product sales within the range […] Read more

Stripe opens an office in Dubai, its first expansion in the Middle East

Fintech firm Stripe said on Tuesday that it had opened an office in UAE’s financial capital Dubai, its first expansion in the Middle East. Stripe also said that it was entering the market in a tie-up with payments processor Network International, based in Dubai. Established a decade ago by brothers Patrick and John Collison from […] Read more

General Motors shares gain for a third straight session on Tuesday, Wells Fargo initiates coverage on stock with “Overweight” rating, $67 price target

Wells Fargo has initiated coverage on General Motors Co (GM) with an ”Overweight” rating, as it said the US auto maker was well positioned for the electrification of the automobile industry. The Wall Street bank also assigned a 12-month price target of $67, which is based off a 4 times multiple of 2022 core EBITDA […] Read more

Microsoft shares gain for a second straight session on Thursday, company mitigates an outage with Microsoft 365 services

Microsoft Corp (MSFT) said last week that an issue with its Microsoft 365 services and features, including Teams and Azure, had been mitigated, after many users had no access to them. An earlier report by outage tracking website Downdetector stated that more than 8,000 users had reported issues with Microsoft’s Teams workplace messaging app. “We […] Read more

Alphabet shares close higher on Wednesday, Google to set aside EUR 25 million for a new fund to combat misinformation

Alphabet Inc’s Google said on Wednesday that it would contribute EUR 25 million to the newly established European Media and Information Fund in an attempt to combat misinformation. There was a significant surge in fake news surrounding the COVID-19 pandemic and the US presidential election last year, while the social media faced some major criticism […] Read more

Spotify shares close higher on Tuesday, company acquires Betty Labs, creator of Locker Room app

Spotify Inc on Tuesday announced the acquisition of Betty Labs, the creator of sports-focused social audio app Locker Room, in an attempt to speed up its move into live audio. The cost of the acquisition, however, remained undisclosed. The company said that it intended to “evolve and expand” Locker Room during the upcoming months to […] Read more

Southwest shares close higher on Tuesday, air carrier orders 100 Boeing 737 MAX aircraft

Southwest Airlines Co (LUV) said earlier this week that it had ordered 100 737 MAX aircraft from Boeing Co and would take delivery of the first 30 planes in 2022. Every 737 MAX 7 jet costs about $100 million at list prices, but these planes usually sell for less than 50% of their official price […] Read more