Month: September 2018

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Trading Ideas

Oracle first-quarter revenue misses estimates, shares fall

September 18, 2018 admin Comments Off on Oracle first-quarter revenue misses estimates, shares fall

Shares of Oracle fell 4 percent to $47.30 in extended trading as the company’s biggest unit, which houses its cloud services business, also reported disappointing sales. Revenue in its cloud services and license support business rose 3.2 percent to $6.61 billion, falling short of the average analyst estimate of $6.71 billion, with the co-Chief Executive Officer Safra Katz attributing the miss to a strong dollar. Oracle is a late entrant to the cloud business and has been playing catch up with rivals, including Amazon.com Inc (AMZN.O), Microsoft Corp (MSFT.O) and Salesforce.com Inc (CRM.N). …read more […]

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Business News

Cigna deal gets antitrust nod, positive sign for CVS/Aetna

September 17, 2018 admin Comments Off on Cigna deal gets antitrust nod, positive sign for CVS/Aetna

Health insurer Cigna Corp’s $52 billion acquisition of pharmacy benefits manager Express Scripts Holding Co has passed U.S. antitrust scrutiny, the companies said on Monday, allowing them to proceed with a combination they say will lead to lower costs by better coordinating pharmacy and medical benefits.

…read more […]

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FedEx quarterly profit misses Wall Street estimate

September 17, 2018 admin Comments Off on FedEx quarterly profit misses Wall Street estimate

Shares in the Memphis-based package delivery company fell 3.4 percent to $247 in after-hours trading. FedEx and rival United Parcel Service Inc (UPS.N) are considered bellwethers for the U.S. economy and investors are monitoring U.S. President Donald Trump’s tariff battle with China. Revenue from China-U.S. trade represents 2 percent of total FedEx revenue and tariffs affect a small portion of that, the company said. …read more […]

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Business News

Cigna-Express Scripts deal gets U.S. antitrust approval

September 17, 2018 admin Comments Off on Cigna-Express Scripts deal gets U.S. antitrust approval

Health insurer Cigna Corp’s $52 billion acquisition of pharmacy benefits manager Express Scripts Holding Co has passed U.S. antitrust scrutiny, the companies said on Monday, allowing them to proceed with a combination they say will lead to lower costs by better coordinating pharmacy and medical benefits.

…read more […]