U.S. home improvement chain Lowe’s beat Wall Street earnings forecasts on Wednesday, but reported disappointing sales growth as it predicted more weakness in Canada following the closure of dozens of unprofitable stores.
Oil rallied for a second day on Wednesday, buoyed by an unexpected decline in U.S. crude inventories and after Saudi Arabia appeared undaunted by pressure from U.S. President Donald Trump on OPEC to prevent steeper price rises.
Drugs and lab supplies maker Merck KGaA is offering to buy Versum Materials in a cash deal valuing it at $5.9 billion including debt, pitting the German group against Entegris which last month also bid for the electronic materials maker.
Campbell Soup Co on Wednesday reported better-than-expected adjusted earnings, helped by its acquisitions of Snyder’s-Lance and Pacific Foods.
U.S. stock index futures edged lower on Wednesday, mirroring global markets, as the second U.S.-North Korean nuclear summit kicked off and fresh hostilities erupted between nuclear-armed neighbors India and Pakistan.
Global stocks traded lower on Wednesday after fresh hostilities between India and Pakistan led Asian assets to slip and investors sought “safe havens” such as the yen and Swiss franc.
Campbell Soup Co on Wednesday reported a quarterly loss, hurt by impairment charges of $346 million for its struggling fresh food business.
U.S. stock index futures edged lower on Wednesday, mirroring global markets, as the second U.S.-North Korean nuclear summit kicked off and fresh hostilities erupted between nuclear-armed neighbors India and Pakistan.
Best Buy Co Inc beat Wall Street estimates for fourth-quarter same-store sales on Wednesday as the biggest U.S. consumer electronics retailer sold more wearable devices, gaming consoles and appliances during the holiday quarter.
FedEx Corp this summer plans to begin testing a robot to handle home deliveries for partners ranging from Walmart Inc to Pizza Hut.
Volvo Cars’ luxury performance brand Polestar unveiled online its first fully electric sedan on Wednesday, with a price and driving range to rival Tesla’s mass market Model 3.
Saudi Aramco has added U.S. investment bank Goldman Sachs as a bookrunner for a planned bond which it will use to help finance its acquisition of a stake in Saudi Arabian Basic Industries Corp (SABIC), two sources familiar with the matter told Reuters.
Ford Motor Co’s joint venture in China has “quietly begun” dismissing thousands of its 20,000 workers due to weak auto sales in the world’s second-largest economy, the New York Times reported on Wednesday.
Bayer’s $63 billion purchase of U.S. seeds maker Monsanto made its mark on the German company’s fourth quarter earnings on Wednesday, lifting profit and boding well for the peak season of its enlarged agriculture business.
Oil rose for a second day on Wednesday, buoyed by an unexpected decline in U.S. crude inventories and after Saudi Arabia appeared undaunted by pressure from U.S. President Donald Trump on OPEC to prevent steeper price rises.
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
