Stock News

Ackman exits JC Penney after three years amid huge losses

Bill Ackman has put his stake in JC Penney up for sale as the hedge fund manager prepares to end three years as the biggest shareholder in the department store business where he has lost at least 40% of his original investment. In a letter to investors in his fund this month, Mr Ackman said […] Read more

Daimler to boost Asia sales through new strategic plan

Daimlers Mercedez-Benz intends to present twenty new models in China in the time-frame of 2 years, part of a broader turnaround effort aimed at reversing the brands recent struggles in the worlds biggest auto market. Daimlers new China chief, Hubertus Troska, and his management team are expected to unveil details of the plan, which also […] Read more

US stocks retreat amid Syria civil war

U.S. stocks fell, with the Standard & Poor’s 500 Index’s ending two days of gains, after Secretary of State John Kerry said the president will hold Syria’s government accountable for using chemical weapons. The S&P 500 declined 0.4% to 1,656.78 at 4 p.m. in New York, erasing an earlier gain of as much as 0.4%. […] Read more

Telefonica steps up to chase KPN’s E-Plus

Telefónica seems to have sealed its deal to buy KPN’s German mobile unit, E-Plus, after approval was gained from major KPN shareholder Carlos Slim by raising the value of its offer from 8.1 billion to 8.55 billion euros. The Spanish telecoms groups original deal to buy KPNs E-Plus unit was placed into doubt earlier this […] Read more

US stock index futures rose amid new home construction data

U.S. stock-index futures remained almost unchanged as investors focused on the only US data release today – a report that may show orders for durable goods decreased last month. Futures on the Standard & Poor’s 500 Index expiring in September declined 0.1 percent to 1,660.1 at 11:09 a.m. in London. Contracts on the Dow Jones […] Read more

Lenovo eating Apple, Samsung share in Asia

Lenovo is adopting an approach similar to Apples of opening outlets offering gleaming glass and wide counters found at Apple shops, with phones and tablets sitting on tables for customers to try out. The retail outlets are part of a long term plan to overtake Samsung in the world’s biggest smartphone market, offering a range […] Read more

Amgen boosts development pipeline with Onyx acquisition

Amgen Inc stepped up to reach a deal to buy cancer drug maker Onyx Pharmaceuticals Inc for about $10.4 billion on Sunday, as it moves to restock its product pipeline in response to declining sales of its flagship anemia drugs. The acquisition which ends a two-month-long auction of Onyx represents the fifth-largest biotechnology deal in […] Read more

US stocks higher despite weak housing data, Fed tapering

U.S. stocks rose despite weaker than expected economic data and Nasdaq three-hour trading halt on Thursday due to a computer error. Investors are speculating on when Fed would begin reducing bond purchases as economy gains momentum. The Standard & Poor’s 500 Index added 0.39% to 1,663.50 on Friday at 4 p.m. in New York. The […] Read more

CEO Ballmer to leave Microsoft in 12 months

Microsoft informed that Steve Ballmer would most likely retire as its chief executive within the next 12 months, sending its stock soaring by more than 7% in early trading. Bill Gates, Microsofts founder and chairman, will form part of the succession planning committee to find his replacement. “There is never a perfect time for this […] Read more

US stock index futures slightly negative before data

US stock index futures were almost changed, following a Nasdaq Stock Market halt yesterday that affected thousands of stocks, as investors focus their attention on a report on sales of new houses. Standard & Poors 500 futures expiring next month slipped 0.14% to 1,653.1 at 6:52 a.m. in New York, after earlier rising as much […] Read more