Wall Street dipped on Wednesday as disappointing forecasts from videogame makers pulled the communications sector lower, but a boost from technology companies kept the main indexes near two-month highs.
Daimler cut its dividend on Wednesday after fourth-quarter operating profit plunged by 22 percent, hit by trade wars, rising costs for developing electric cars and an industry downturn that has dented even the most profitable carmakers.
Private equity firm Carlyle Group LP said on Wednesday it expects to grow the amount it earns from management fees by more than a quarter in 2019, as it wraps up a $100 billion fundraising push.
Eli Lilly and Co on Wednesday embraced a U.S. government proposal to end a decades-old system of rebates drugmakers make to industry middlemen, saying it could lower the cost of insulin and other prescription drugs for patients.
The U.S. trade deficit fell for the first time in six months in November amid declines in imports of cellphones and petroleum products, leading economists to boost their economic growth estimates for the fourth quarter.
A top Boeing Co executive said on Wednesday market demand was strong enough to support an even higher production rate of 63 single-aisle 737 aircraft per month but such an increase depends more on suppliers being able to keep up.
The German government will seek a reform of EU competition law during its presidency of the European Union in the second half of 2020, a government source told Reuters on Wednesday.
U.S. stocks dipped on Wednesday as disappointing forecasts from videogame makers pulled the communications sector lower, but a boost from technology companies kept the indexes near two-month highs.
Spotify posted its first ever quarterly operating profit on Wednesday driven by a strong gross margin and slower-than-expected headcount growth, but it warned of a loss in 2019 and issued modest forecasts which disappointed investors.
UBS has received approval from a London court to move up to 32 billion euros ($36.44 billion) in assets from Britain to Germany as part of plans to keep business in the European Union after Brexit.
General Motors Co on Wednesday swung to a quarterly profit thanks to high-margin pickup trucks and crossovers in the U.S. market plus cost cutting and maintained its full-year 2019 earnings forecast, lifting its shares 1.5 percent in early trading.
U.S. stocks opened slightly lower on Wednesday as investors evaluated developments around U.S.-China trade talks and President Donald Trump’s State of the Union address, which offered no specific economic policy initiatives.
The U.S. trade deficit narrowed sharply in November amid declines in imports of cellphones and petroleum products.
Alstom shares rallied on Wednesday after Brussels rejected the French rail manufacturer’s plan to merge with Siemens’ rail division to create a powerful European rail business.
Siemens and Alstom’s plan to create a European rail champion collapsed on Wednesday after EU regulators blocked the deal, prompting Germany and France to call for an overhaul of EU competition policy to better meet global challenges.
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