U.S. oil and natural gas producer Chevron Corp on Friday reported that its quarterly profit doubled on record oil and gas production, sending its shares up as much as 5 percent.
Shares in Apple Inc fell 6 percent on Friday, cutting its market value back to less than $1 trillion after it forecast softer-than-expected sales for the holiday quarter and fueled nerves over iPhone sales by saying it would no longer release the figures.
New economic forecasts from the European Commission and services PMIs will help clarify the outlook for the euro zone economy after third-quarter growth disappointed, while mid-term elections and a Federal Reserve meeting top the U.S. agenda.
Nearly 40 years after the 1979 Islamic revolution saw the exit of Western oil companies from Iran, the Iranian oil sector faces yet another costly disruption after a series of interruptions from war, sanctions and diplomatic isolation.
U.S stocks gave up early gains to trade lower on Friday, after Apple’s disappointing forecast added to fears of slowing corporate growth, outweighing a boost from healthy economic data and trade optimism.
Alphabet Inc’s Google unit said on Friday that its Washington office chief, who also heads Americas policy, is stepping down as the company faces criticism on issues including how it protects users’ privacy and its investment plans in China.
Concerns that a trade deal between the U.S. and China may not be imminent reined in a rally in world equity markets and reversed gains on Wall Street on Friday, while strong U.S. wage growth boosted U.S. bond yields.
U.S. drugmaker AbbVie Inc on Friday lowered its overseas sales forecast for its top-selling medicine, Humira, as it agreed to larger-than-expected price cuts due to new European competition.
The United States said on Friday it will temporarily allow eight jurisdictions to keep importing Iranian oil when U.S. sanctions come back into force on Monday, sparing them for now from the threat of U.S. economic penalties.
President Donald Trump’s bet that tax cuts and a gush of government spending would smooth the path to a second term may falter as cracks begin to appear in a decade-old recovery.
U.S. semiconductor supplier Broadcom has made a patent claim for more than $1 billion against Volkswagen and is threatening to seek a judicial ban on the production of several car models, German magazine Der Spiegel said on Friday.
Tesla Inc said on Friday it received a subpoena from the U.S. Securities and Exchange Commission regarding certain projections the electric car maker made for Model 3 production rates during 2017.
The Securities and Exchange Commission assessed $3.945 billion in disgorgement and penalties across 821 enforcement actions in fiscal 2018, the agency’s enforcement division said in its annual report on Friday.
U.S. job growth rebounded sharply in October and wages recorded their largest annual gain in 9-1/2 years, pointing to further labor market tightening that could encourage the Federal Reserve to raise interest rates again in December.
U.S. stocks gave up early gains to trade lower on Friday morning, as Apple extended losses and dragged down technology stocks after it gave a disappointing forecast, adding to fears of a slowdown in corporate growth.
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