Strong earnings from IBM, United Technologies and Procter & Gamble boosted the Dow Jones Industrial Average at the open on Wednesday and propelled a rebound in U.S. stocks from its second biggest decline in 2019.
Activist investor Sahm Adrangi, who cemented his reputation with successful bets against Chinese internet companies, said that he has taken a short position against Qualcomm Inc , arguing the chip supplier’s stock price could shrink by half.
United Technologies Corp beat analysts’ estimates for fourth-quarter profit on Wednesday, boosted by a lower tax rate and double-digit sales growth at its aerospace businesses, sending the industrial conglomerate’s shares up 5 percent.
Procter & Gamble Co raised its full-year sales forecast and beat Wall Street estimates for quarterly revenue and profit on Wednesday, driven by price increases and robust demand for detergent and premium skin care brands.
Global markets recovered from earlier losses on Wednesday as investors made a cautious return to riskier assets, with U.S. futures and European stocks higher even as worries about corporate and economic growth lingered.
Hundreds of taxi drivers protested outside one of Madrid’s largest tourist fairs on Wednesday, using their cabs to block access roads and burning rubbish as part of an open-ended strike against Uber and other ride-hailing services.
Europe’s competition commissioner has signaled her scepticism about the merger of Siemens’s and Alstom’s rail businesses by describing both companies as world champions that can compete globally.
Global markets recovered from earlier losses on Wednesday as investors made a cautious return to riskier assets, with the dollar rising and U.S. futures higher though worries about corporate and economic growth lingered.
The Russian arm of U.S. bank Citi said on Wednesday it planned to reduce the number of its offices in the country, but expected to do more business this year.
Johnson & Johnson is pursuing an acquisition of surgical robotics firm Auris Health Inc, Bloomberg reported on Wednesday, citing people with knowledge of the matter.
Procter & Gamble Co’s quarterly revenue and profit topped Wall Street estimates on Wednesday, driven by price increases and robust demand for fabric care products and premium skin care brands.
Industrial conglomerate United Technologies Corp reported a better-than-expected fourth-quarter profit on Wednesday and forecast 2019 earnings above estimates, boosted by acquisition of aero parts maker Rockwell Collins.
Top U.S. cable services provider Comcast Corp reported quarterly revenue and profit above analysts’ estimates on Wednesday, as it lost fewer video subscribers than expected and grew its broadcast television and theme parks businesses.
The rail divisions of Siemens and Alstom are world champions and are both able to compete in the market, the European Union’s Competition Commissioner Margrethe Vestager told Die Zeit newspaper, signaling scepticism over a planned merger of their rail businesses.
Russia should not unleash an oil price war against the United States but rather stick with output cuts even at the cost of losing market share in the medium term, one of the main Russian architects of a production pact with OPEC said.
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