January 20, 2017 10:44 am
On January 19th American Express Company (AXP) reported a lower-than-anticipated profit for the final quarter of 2016, due to higher marketing and promotion expenditures aimed at fending off rivalry. American Express shares registered the largest daily retreat since January 5th on Thursday. The stock went down 1.03% ($0.80) to $76.69, after climbing as high as […]
Read moreJanuary 20, 2017 8:44 am
On January 19th Wells Fargo & Company (WFC) announced a merger between its international business and its wholesale banking unit. At the same time, Richard Yorke was appointed as Chief Operating Officer of the groups wholesale banking business. Wells Fargo shares closed higher for a second straight session on Thursday. The stock went up 0.57% […]
Read moreJanuary 19, 2017 10:38 am
According to a January 18th statement by the US Securities and Exchange Commission (SEC), General Motors Company (GM) is expected to pay $1 million in order to settle an accounting case related to a defective ignition switch, that caused 124 deaths and 275 injuries. Charges stated that lax accounting control at GM had caused the […]
Read moreJanuary 19, 2017 8:36 am
Oracle America Inc, an Oracle Corporation unit, has been sued by the US Labor Department, as white male employees at the technological company systematically received larger payments compared to other worker groups, while, on the other hand, Asians were the most favored applicants in the recruiting process. In a complaint, filed with an administrative judge […]
Read moreJanuary 18, 2017 2:30 pm
Target Corporation (TGT) revised down its forecasts regarding Q4 comparable store sales and earnings, while pointing out “softer-than-expected” holiday sales – a result of disappointing traffic and sales trends. According to the retailer, growth of toy sales was more than offset by lower sales of electronics, entertainment, essential products and food. Target Corporation shares gained […]
Read moreJanuary 18, 2017 1:04 pm
According to a January 17th report, United Continental Holdings Incs net profit shrank 39.8% during the final three months of 2016, while its passenger unit revenue dropped 1.6%. Actual figures were better than the companys initial guidance, as Novembers last-minute bookings and ticket yields registered an improvement. United Air shares closed lower on Tuesday, while […]
Read moreJanuary 17, 2017 10:42 am
According to a January 16th statement, Noble Energy Inc is to acquire rival company Clayton Williams Energy Inc in a cash-and-stock deal valued at $2.7 billion in order to expand its operations in the Permian Basin. The deal, which is to be closed in Q2 2017, encompasses 71 000 net acres in the core of […]
Read moreJanuary 17, 2017 8:38 am
NASDAQ-listed Netflix stock logged an all-time high closing price on Friday last week, as investor confidence soared ahead of the release of the companys quarterly report on earnings. The release is scheduled on January 18th. Netflix shares registered their largest daily surge since December 6th on Friday, while also marking a second gain in the […]
Read moreJanuary 16, 2017 10:35 am
According to a January 13th statement by the US Securities and Exchange Commission (SEC), Morgan Stanley is expected to pay $13 million in relation with civil charges, after the holding company billed a number of wealth management customers more than it should due to billing system errors. Morgan Stanley also failed to comply with custody […]
Read moreJanuary 16, 2017 8:56 am
Following a meeting with US President-elect Donald Trump on Friday, Lockheed Martin CEO Marillyn Hewson said the company was moving closer to a deal involving considerable cost reduction of its F-35 aircraft. Lockheed Martin shares closed higher for the first time in the past five trading sessions on Friday. The stock went up 0.76% ($1.91) […]
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