India’s No.2 software services exporter, Infosys Ltd , is probing whistleblower complaints that its top two executives engaged in “unethical practices” to boost short-term revenue and profit, sending its shares down 16% on Tuesday.
The S&P 500 rose on Tuesday, bolstered by gains in Biogen and upbeat earnings reports that eased concerns over the fallout from the U.S.-China trade war, but the Dow Jones index was pressured by a drop in McDonald’s and Travelers.
Novartis sales data on Tuesday suggested the Swiss drugmaker is reaping less than the $2.1 million U.S. list price for its gene therapy Zolgensma, as insurers may be getting breaks on the world’s most-expensive one-time treatment. The spinal muscular atrophy (SMA) treatment, approved by the U.S. Food and Drug Administration in May, has reaped $175 million in revenue this year, including $160 million in the third quarter. On a call following third-quarter results, Chief Executive Vas Narasimhan said roughly 100 patients have been treated under the paid program. …read more […]
Biogen is up on news its submitting to the Food and Drug Administration an experimental Alzheimer’s drug. Yahoo Finance’s Dan Roberts, Anjalee Khemlani and Scott Gamm discuss on YFi AM. …read more […]
Legendary fund manager Li Lu (who Charlie Munger backed) once said, ‘The biggest investment risk is not the volatility… …read more […]
Lockheed Martin Corp raised its estimate for 2019 earnings on Tuesday as quarterly profit climbed 9.2% amid improved sales of its F-35 fighter jets, sending shares higher even as it forecast a lower cash flow for next year.
Big name companies like McDonald’s and P&G reported earnings that left major indexes mixed. Global Market Strategist at Invesco Brian Levitt and Chief Investment Officer of Liquid Strategies Shawn Gibson join Yahoo Finance’s Alexis Christoforous, Brian Sozzi, and Jared Blikre to discuss. …read more […]
The cuts may affect about 2,000 employees, or 16 percent of the company’s workforce, Bloomberg has reported. …read more […]
Uber pinned its growth over the next decade on developing markets like India on Tuesday, despite the problems it has faced in establishing itself in China and Southeast Asia. India is a very competitive market with demanding consumers but its “profitability characteristics” are improving, Uber chief executive Dara Khosrowshahi told reporters on Tuesday. “If I look at Uber’s growth over the next 10 years it’s going to be defined by markets like India, Africa, the Middle East more so than the developed markets such as the U.S. and Europe,” Khosrowshahi said. …read more […]
McDonald’s Corp missed Wall Street estimates for profit for the first time in two years on Tuesday as more investment to spruce up U.S. restaurants and speed up delivery weighed on the world’s biggest fast food chain, sending its shares down 3%.
Boeing Co is making progress toward getting its 737 MAX aircraft in the air again but the U.S. Federal Aviation Administration (FAA) will need at least several more weeks for review, FAA Administrator Steve Dickson said on Tuesday.
Boeing Co is making progress toward getting its 737 MAX aircraft in the air again but the U.S. Federal Aviation Administration (FAA) will need at least several more weeks for review, FAA Administrator Steve Dickson said on Tuesday. Dickson said at a conference of air traffic controllers in Washington that the agency had received the “final software load” and “complete system description” of revisions to the plane, which was grounded in March after two fatal crashes. The disasters, which killed a total of 346 people, and grounding of Boeing’s top-selling plane sparked a plunge in the company’s share …read more […]
U.S. home sales fell more than expected in September as the market continues to struggle with a dearth of properties for sale, especially for cheaper homes.
Oil prices rose on Tuesday after China signaled progress in trade talks with the United States, but gains were capped by bearish forecasts of a buildup in U.S. crude stockpiles.
SoftBank is now seizing control of WeWork in a bailout deal. Yahoo Finance’s Alexis Christoforous, Andy Serwer, and Brian Sozzi discuss. …read more […]
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