Stock News

Valeant Pharmaceuticals share price down, said to consider increasing its takeover bid for Allergan Inc.

A person familiar with the situation shared that Valeant Pharmaceuticals International Inc., together with activist investor Bill Ackman’s Pershing Square Capital Management LP, intends to boost its acquisition bid for Allergan Inc. in the eve of the companys shareholder meeting in December. The person, who asked not to be named because the matter is still […] Read more

Tesco Plc share price up, Chairman Broadbent considers resignation after accounting investigation

According to people with knowledge of the matter, the Chairman of Tesco Plc Mr. Richard Broadbent would consider stepping down after a probe into the companys recently alarmed accounting malpractices is finalized. The UK grocer has been put under a lot of pressure and close monitoring over the last couple of weeks since it called […] Read more

Facebook Inc. share price up, finalizes the $21.8-billion acquisition of WhatsApp

Facebook Inc. managed to finally close its acquisition deal of WhatsApp Messenger, which turned out to be more expensive than it was originally planned. The deal, which received approval by European regulatory authorities last week, is considered the largest acquisition of Facebook to date. The U.S.-based social network said in a statement, which was cited […] Read more

Glencore Plc share price up, faces resistance as Rio Tinto Plc rejects merger proposal

Glencore Plc approached Rio Tinto Plc with a merger proposal in July 2014, which would have been one of the largest deals in the history of mining industry, but Rio Tintos board rebuffed the acquisition offer and has not been in contact with the company since early August. Rio Tinto said in a statement, which […] Read more

Samsung Electronics share price up, estimates a 60% decline in Q3 operating profit amid tough competition

Samsung Electronics Co. Ltd reported in a regulatory filing today the largest decline in its quarterly profits in half a decade as sales in both the high and low-end smartphone segments were dented by the fierce rivalry of Apple Inc. and Chinese competitors. The South Korean company said that its operating profit declined by 60% […] Read more

Lloyds Banking Group Plc’ share price up, said to cut thousands of jobs as part of the bank’s strategy to reduce expenses

A person with knowledge of the situation, the biggest mortgage provider in the U.K. – Lloyds Banking Group Plc is planning to cut thousands of jobs, which is considered to be the most significant round of job cuts in at least three years. This is not the first time when the U.K.-based banking group is […] Read more

Chevron Corp.’s share price rises, to sell a 30% stake in Canada at the price of $1.5 billion to a subsidiary of Kuwait Foreign Petroleum Co.

The second-biggest oil and gas manufacturer in the U.S. – Chevron Corp. announced that it reached an agreement to sell a 30% stake of a Canada-based joint venture at the price of $1.5 billion to a subsidiary of Kuwait Foreign Petroleum Co. The proceeds of the sale are to be used for financing the companys […] Read more

Verizon Communications Inc. share price up, Redbox Instant shuts down on October 7th

According to a notice to customers published on its website, the movie-streaming venture of Verizon Communications Inc. and Outerwall Inc. – Redbox Instant – will be shut down on October 7th. Rosemary Moothart, Outerwall vice president of investor relations, wrote in an e-mailed statement that the partners in the venture made the decision of shutting […] Read more

Tesco Plc’ share price rises, appoints two new members of its board in an attempt for further consolidation

Tesco Plc revealed in an official statement today that it appointed Mr. Richard Cousins and Mr. Mikael Ohlsson as new members of its board. The transition is to take effect on November 1st. The step is considered part of the companys strategy to strengthen its board at a time when it is dealing with investigations […] Read more