MGM Resorts International said on Tuesday it would sell its Bellagio and Circus Circus resorts in Las Vegas in separate deals valued at about $5 billion, as the casino operator adopts an asset-light strategy to bolster its balance sheet.
Federal prosecutors in New York on Tuesday charged Turkey’s Halkbank with taking part in a multibillion-dollar scheme to evade U.S. sanctions against Iran.
Three drug distributors are in talks with state and local governments to settle opioid litigation for $18 billion, the Wall Street Journal reported on Tuesday, citing people familiar with the discussions. McKesson Corp, AmerisourceBergen Corp and Cardinal Health would collectively pay the amount over 18 years under the deal currently on the table, according to the Journal. Around 2,600 lawsuits by state and local governments are pending nationally, accusing drug manufacturers of deceptively marketing opioids in ways that downplayed their risks, and drug distributors of failing to detect and halt suspicious orders. …read more […]
Wells Fargo & Co reported lower profits on Tuesday as the bank braced for additional legal expenses tied to a scandal that erupted more than three years ago.
Trading in shares of WeWork in the private over-the-counter (OTC) market has almost ground to a halt, underscoring a loss of investor confidence in the office-sharing company and providing further evidence of its recent huge loss in value.
Stocks in Europe and on Wall Street jumped about 1% on Tuesday on strong U.S. corporate results and a possible deal to avoid a disorderly British exit from the European Union, while oil prices fell as weak China data kindled global economic fears.
Fidelity Investments on Tuesday said it was reviewing its relationship with money manager Ken Fisher and Philadelphia’s board of pensions said it terminated its business with his firm after Fisher allegedly made disparaging remarks about women at a conference last week.
In yesterday’s issue of Trade of the Day, I outlined all of the possible risks that the market is now facing from the so-called “Washington Risk.”
In other words, news out of Washington (specifically the current U.S.-China trade negotiations) now has 100% influence on the minute-by-minute movements of the major market averages.
As we have recently witnessed, any news item – or any tweet – can dramatically change the market’s direction – either up or down – in the blink of an eye.
For instance, Art Cashin – who has seen just about every major market move in the last five decades, warned …read more […]
Here’s an amazing piece of retirement savings advice from one of the members of my breakfast crew that is responsible for what I call my “Grill Quotient.”
Quickly, the Grill Quotient is my 100%-accurate contrarian market indicator based on what I hear from all the guys at my daily breakfast place on the beach.
In a recent conversation about the state of retirement savings with Kevin, one of the better-informed investors who I talk with regularly, he offered some of the simplest – and for my money, the most effective – advice I’ve ever heard to make your children and other family …read more […]
Sunrise Communications has won support from one of its largest shareholders for its $2.8 billion capital hike – the latest twist in the telecom company’s battle to buy Liberty Global’s Swiss business.
United Airlines on Tuesday topped Wall Street estimates for quarterly profit, boosted by higher fares and lower fuel costs, and lifted its 2019 profit target despite the continued grounding of the Boeing 737 MAX.
Chicago-based United is one of three U.S. airlines that has had to cancel more than 2,000 monthly flights through the end of the year as Boeing Co’s 737 MAX remains grounded following two deadly crashes in Indonesia and Ethiopia. The flight cancellations have weighed on airline profits and costs, but United said strong travel demand continued to offset MAX headwinds and disruption in Hong Kong and China. As a result, it raised its 2019 adjusted diluted earnings per share guidance to $11.25-$12.25 versus $10.5-$12.0 previously. …read more […]
Veggie burgers are buzzy, from the Impossible Whopper to Beyond Meat’s stock surge. But which tastes the best? We assembled an all-star team to find out. …read more […]
Wall Street advanced on Tuesday as third-quarter reporting season hit with a spate of upbeat earnings reports that brought buyers back to the equities market.
Wall Street advanced on Tuesday as the third-quarter earnings season hit the ground running with a spate of upbeat reports that brought buyers back to the equities market.
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