Shares of General Electric Co tumbled on Friday after a JP Morgan analyst slashed his target price on the stock to a lowly $6, dealing a fresh blow to the U.S. industrial conglomerate’s flagging share price.
The S&P 500 fell more than 1 percent on Friday, with shares of large technology, industrial and material companies taking a hit as weak Chinese data and a slide in oil prices raised concerns about global growth.
Oil prices fell about 1 percent on Friday as global supply increased and investors worried that fuel demand could slow, putting U.S. crude on track for the longest stretch of daily declines since 1984.
U.S. companies are warning about rising wages eating into profit margins, increasing investor worries that next year’s expected drop in profit growth may be sharper than feared.
Microsoft Corp said in a filing late Thursday that it had made $1.3 billion in cash payments in connection to its acquisition of coding hosting startup GitHub.
SoftBank’s Vision Fund is raising $4 billion in debt to help finance acquisitions and has hired Goldman Sachs and Mizuho to work on the deal, a presentation seen by Reuters said.
Japanese drugmaker Takeda Pharmaceutical is set to win conditional EU antitrust approval for its $62-billion bid for London’s Shire, the biggest ever overseas acquisition by a Japanese company, two people familiar with the matter said on Friday.
General Electric Co said on Friday that it has “sound liquidity” after a JPMorgan analyst slashed his stock price target, sending shares down 9 percent.
A U.S. judge in Montana has halted construction of the Keystone XL pipeline designed to carry heavy crude oil from Canada to the United States, drawing a sharp rebuke on Friday from President Donald Trump.
Top U.S. grain merchant Archer Daniels Midland Co has approached Argentine soy crusher Molinos Agro about buying the company’s livestock feed and soyoil manufacturing plant, and talks may continue, three sources said.
Oil prices fell more than one percent on Friday, with U.S. crude on track for its longest losing streak since 1984 as global supply increased and investors worried about the impact of lower economic growth and trade disputes on fuel demand.
EU antitrust regulators are set to approve Japanese drugmaker Takeda Pharmaceutical’s $62-billion offer for London peer Shire on condition that Shire sells a drug it has in development, a person familiar with the matter said on Friday.
U.S. producer prices rose more than expected in October and at their fastest pace in six years but measures of underlying price pressure cooled, bolstering the view that the U.S. central bank is not facing a resurgence in inflation.
Randal Quarles, head of supervision at the Federal Reserve, said on Friday the central bank would re-propose aspects of a bank capital rule known as the “stress capital buffer” due to industry concerns.
U.S. stocks fell on Friday, with shares of technology, energy and industrial companies bearing the brunt of a selloff, as weak Chinese data and declines in oil prices raised concerns about global growth.
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