Bristol-Myers Squibb defended its planned $74 billion takeover of Celgene Corp, saying it had carried out a “robust” assessment of the merger after two major investors opposed what could be the largest pharmaceutical deal ever.
Trade negotiations between the United States and China are progressing well via video conference, a senior official at the U.S. Department of Agriculture said on Wednesday.
A gauge of global stocks sputtered for a third straight session, unable to build on a surge in Chinese shares, while the Canadian dollar weakened after dovish commentary from the Bank of Canada.
Dollar Tree Inc announced plans to close hundreds more Family Dollar stores on Wednesday as it wrote off $2.7 billion, or nearly a third of the value of the struggling discount chain it bought for $9 billion four years ago.
U.S. stocks fell on Wednesday as investors stayed on the sidelines following a strong rally this year, awaiting fresh developments on trade.
Abercrombie & Fitch’s shares surged 20 percent after the apparel retailer forecast better-than-expected annual sales on Wednesday, betting on its remodeled stores and the popularity of its Hollister brand to attract more young shoppers.
Exxon Mobil Corp said on Wednesday it plans to open its wallet and boost spending for several years to restore flagging oil and gas production, but its shares fell as investors were disappointed that the oil company would not tighten spending and send more money back to shareholders.
U.S. stocks took a pause on Wednesday following a strong rally that started this year as investors stayed on the sidelines, awaiting fresh developments on trade.
Bristol-Myers Squibb urged shareholders on Wednesday to support its planned $74 billion takeover of Celgene Corp, as it faces opposition from at least two investors to what could be the largest pharmaceutical deal ever.
Dialog Semiconductor is targeting new growth opportunities from home healthcare to gaming consoles following a $600 million deal to cut its exposure to Apple, CEO Jalal Bagherli told Reuters on Wednesday.
Newmont Mining Corp said on Wednesday that initial talks on a possible Nevada joint venture with Barrick Gold Corp were productive.
U.S. stocks opened flat on Wednesday in the absence of fresh developments on trade, with investors taking a step back after a strong run in equities since the start of the year.
The U.S. trade deficit surged to a 10-year high in 2018, with the politically sensitive shortfall with China hitting a record peak, despite the Trump administration slapping tariffs on a range of imported goods in an effort to shrink the gap.
Abercrombie & Fitch predicted annual sales above Wall Street forecasts on Wednesday, as new store designs and a broader selection of apparel resonate better with shoppers.
U.S. House lawmakers plan to hold a March 12 hearing to review a proposed $26 billion merger of T-Mobile US Inc and Sprint Corp with the telecommunications companies’ chief executives, according to a congressional statement on Wednesday.
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