Oil prices rose on Tuesday, on track to close at a two-week high, on optimism the U.S. Federal Reserve will cut interest rates this week for the first time in more than 10 years, boosting demand expectations in the world’s biggest oil user.
Eli Lilly and Co reported a second-quarter profit that topped Wall Street estimates and raised its 2019 earnings forecast on Tuesday, as higher demand for newer drugs offset increased discounts for the U.S. Medicare program and sales declines of medicines that lost patent protection.
Xerox Corp posted a better-than-expected quarterly profit on Tuesday, but cut its full-year revenue forecast citing organizational changes, primarily in North America.
U.S. stocks dipped on Tuesday as U.S.-China trade worries pressured technology shares, while the scale of consensus at the Federal Reserve in favor of deeper cuts in interest rates ate into optimism that drove markets to record highs last week.
Switzerland scrapped a 1.8 million Swiss franc ($1.8 million) sponsorship deal with Philip Morris International for the country’s pavilion at Expo 2020 in Dubai after being widely criticized for taking tobacco money to promote its image abroad.
No.1 U.S. homebuilder D.R. Horton Inc on Tuesday said it expects lower incentive spending and strong buyer demand to benefit margins, sending its shares up about 6%.
Shares in meat alternatives company Beyond Meat slid on Tuesday, a day after the company known for its pea-based burgers and sausages announced a stock offering plan to raise capital just three months after going public.
Merck & Co Inc reported higher-than-expected second-quarter profit and revenue and raised its full-year earnings forecast on Tuesday, powered by strong demand for its blockbuster cancer immunotherapy Keytruda and vaccine sales.
U.S. President Donald Trump on Tuesday warned China against waiting out his first term in office to finalize any trade deal, saying if he wins re-election in the November 2020 U.S. presidential contest, the outcome could be no agreement or a worse one.
Ralph Lauren Corp said it expects full-year sales in North America to be pressured by a tough retail environment and weakness in spending by foreign tourists, overshadowing upbeat quarterly earnings and sending its shares down about 4%.
Capital One Financial Corp was sued on Tuesday after the bank said a hacker who has since been arrested accessed personal information belonging to about 106 million people in the United States and Canada.
Procter & Gamble Co’s quarterly revenue and profit beat Wall Street expectations on Tuesday, sending shares up even as the world’s No.1 personal goods company took an $8 billion writedown on its Gillette shaving business.
Oil prices rose for a fourth day on Tuesday on optimism the U.S. Federal Reserve will this week cut interest rates for the first time in more than 10 years, boosting demand expectations in the world’s biggest oil user.
Capital One Financial Corp shares fell as much as 5.8% on Tuesday as investors worried about its management of customer data after the credit-card issuer said information for 106 million people had been compromised.
U.S. stocks dropped on Tuesday as U.S.-China trade worries pressured technology shares, while the scale of consensus at the Federal Reserve in favor of deeper cuts in interest rates ate into optimism that drove markets to record highs last week.
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