Month: October 2019

Wall Street looked set to start the week on an upbeat note on Monday on fresh signs of progress in a long-awaited resolution to the U.S.-China trade war, but a fall in Boeing’s shares capped early gains. White House adviser Larry Kudlow said in an interview to Fox Business that tariffs scheduled for December could be withdrawn if trade negotiations continue to go well. U.S. chipmakers with a large exposure to China rose in premarket trading, with Advanced Micro Devices Inc, Nvidia Corp and Micron Technology Inc gaining between 1% and 2%. …read more […]

Private equity groups including Cinven and Blackstone are vying to buy KKR-owned LGC Group in a deal that could value the British scientific measurement and testing company at as much as 2.5 billion pounds, people close to the matter said. Cinven, which is working with Abu Dhabi Investment Authority (ADIA), made it to the second round of bidding alongside rival offers from Blackstone and Advent, they said. U.S. private equity firm Leonard Green is also in the running for the company, which is expected to fetch 2-2.5 billion pounds including debt, one of the people said. …read more […]

(Bloomberg) — Beyond Meat Inc., the faux-meat maker that’s become a Wall Street darling, is announcing one of its biggest restaurant roll outs yet.A sandwich featuring the company’s plant-based sausage will arrive in more than 9,000 U.S. Dunkin’ restaurants beginning on Nov. 6, the companies said Monday. The nationwide launch follows a successful trial run in Manhattan’s 163 locations over the past three months.The plan was always to go national with the menu item, but the U.S. expansion wasn’t originally planned until January 2020. Dunkin’ Brands Group Inc. said it accelerated the wider launch after New York sales were more …read more […]

U.S. oilfield services company McDermott International Inc on Monday agreed with some of its lenders for additional funding of up to $1.7 billion, sending its shares up 25% in trading before the bell. Under the terms, the company said it would have immediate access to $650 million in financing, comprising $550 million under a term loan facility and $100 million under a letter of credit facility. “The agreement provides near-term liquidity for the company to manage working capital and provide performance guarantees on expected new awards,” Chief Executive Officer David Dickson said. …read more […]

Yahoo Finance’s Dan Roberts, Sibile Marcellus, and Kristin Myers discuss Shonda Rhimes new 3-year podcasting deal with iHeartRadio. …read more […]

Hudson’s Bay Co said on Monday it has agreed to a higher offer from a group of shareholders led by its Executive Chairman Richard Baker to take the struggling Canadian department store chain private. The deal comes at a time when the owner of luxury department store chain Saks Fifth Avenue has been closing underperforming stores to cut costs as it competes with discount direct-to-consumer brands and Amazon.com Inc. Baker’s first bid was opposed by shareholders including activist investor John Litt who called the offer “woefully inadequate”. …read more […]

Credit Suisse and UBS downgraded the stock after reports on Friday showed internal messages between two Boeing employees stating that the plane’s anti-stall system behaved erratically during testing before the aircraft entered service. The new revelations pose fresh challenges for Boeing, which is reeling under pressure after two fatal crashes forced the company to ground the planes and book billions of dollars in losses. Boeing’s shares fell 2% to $337.20 in premarket trading on Monday, adding to their 18% decline since the second deadly crash of the popular single-aisle jet in Ethiopia. …read more […]