Asian stocks struggled to gain traction on Friday, following a mixed end to Wall Street trade and as the worsening Sino-U.S. trade dispute kept investors in the region cautious, despite signs of rapprochement between the United States and Europe.
China’s market regulator said on Friday proposals from Qualcomm Inc and NXP Semiconductors to solve antitrust concerns around their now scrapped $44 billion merger had not been sufficient, but it still hoped to find a solution.
China’s regulators said it’s unfortunate that Qualcomm Inc. decided to scrap its $44 billion bid to acquire rival chipmaker NXP Semiconductors NV, a surprise statement a day after the two companies abandoned their deal because they hadn’t received regulatory approval by a deadline Wednesday. China’s State Administration for Market Regulation said its deadline for the current Qualcomm review is Aug. 15, with an extended deadline of Oct. 14. The statements appear to be aimed at shifting blame for the deal’s failure to the companies, though Qualcomm and NXP said the reason was China’s failure to give clearance more …read more […]
Despite sagging sales for Amgen’s cash cow, a handful of younger drugs kept the needle moving forward. …read more […]
The U.S. Securities and Exchange Commission on Thursday stood by a decision blocking an exchange-traded fund that would have tracked bitcoin, citing concerns about market manipulation.
Electronic Arts Inc forecast tepid second-quarter revenue growth on Thursday, overshadowing quarterly results that topped analysts’ estimates and sending its shares down 7 percent in extended trading.
Amgen Inc on Thursday reported a better-than-expected second quarter profit and raised its full-year earnings forecast, and its chief executive pledged not to raise drug prices again this year.
Facebook Inc Chief Executive Mark Zuckerberg’s fortune took a more than $15 billion hit on Thursday, as the social media company suffered the biggest one-day wipeout in U.S. stock market history a day after executives forecast years of lower profit margins.
Sales to data centres that power mobile and web apps, which bring more profit than chips for personal computers, rose 26.9 percent to $5.55 billion in the second quarter ended June 30. Intel has been increasingly catering to data centres as revenue from PCs has flattened since shipments peaked in 2011. “We believe performance within Intel’s data centre business largely dictates the performance in the shares and view the slight miss versus consensus as a negative,” said CFRA Research analyst Angelo Zino. …read more […]
Amazon (AMZN) just released its latest quarterly results, posting diluted earnings of $5.07 per share and revenues of $52.9 billion. Get the full rundown here! …read more […]
Intel Corp’s fast-growing data center business missed Wall Street targets on Thursday as the world’s second-largest chipmaker faced stiff rivalry from Advanced Micro Devices Inc , and it again delayed the release of its next-generation chips until the end of 2019.
Chesapeake Energy Corp plans to sell all of its Ohio natural gas acreage to privately owned Encino Acquisition Partners for about $2 billion, the company said on Thursday.
The U.S. Securities and Exchange Commission on Thursday stood by a decision to block an exchange-traded fund (ETF) that would have tracked bitcoin.
The U.S. administration got more out of a trade deal with the European Union than it had expected and the two will work together to deal with China’s market abuses, a top White House official told Reuters on Thursday. President Donald Trump and Jean-Claude Juncker, president of the European Commission, the EU’s executive body, struck a surprise deal on Wednesday that ended the risk of an immediate trade war between the two powers. Trump agreed on Wednesday to refrain from imposing car tariffs while the two sides launch negotiations to cut other trade barriers. …read more […]
A plunge in Facebook Inc’s shares pushed the Nasdaq down more than 1 percent on Thursday, the index’s biggest one-day drop in a month, but industrial stocks rose after the United States and the European Union said they would negotiate on trade.
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