U.S. stocks rose on Tuesday, helped by a rebound in technology stocks after a volatile few sessions on Wall Street, amid optimism over the U.S.-China trade dispute and some upbeat earnings reports.
Chesapeake Energy Corp said on Tuesday it would buy Texas-based WildHorse Resource Development Corp in a nearly $4 billion deal, adding lucrative oil-producing regions as part of efforts to cut reliance on low-priced natural gas.
Oil prices fell more than 2 percent on Tuesday on signs of rising supply and concerns that global economic activity and fuel demand would be hit by a deepening U.S.-China trade dispute.
GE’s Baker Hughes has halted its share buyback program as it awaits more clarity from parent General Electric about its plans as the U.S. conglomerate embarks on more organizational and financial changes.
Volkswagen posted forecast-beating third quarter profit, weathering a storm of lower car sales, higher spending and new pollution rules which dented earnings at rivals Daimler and BMW .
Pfizer Inc on Tuesday reported worse-than-expected third quarter revenue and lowered the top end of its full-year sales forecast as generic competition and drug pricing pressure in the United States hurt its older drugs business.
European shares labored in the red and China’s yuan hit a 10-year low on Tuesday as the prospect of an escalation in the U.S.-Sino trade war compounded the recent gloom in global markets.
U.S. home appliances maker Whirlpool will continue operations at its factories in Turkey’s western Manisa province, it said in a statement to Reuters on Tuesday, although it is exiting the domestic sales business in the country.
U.S. President Donald Trump’s administration took action on Monday to cut off a Chinese state-backed chipmaker from U.S. suppliers amid allegations the firm stole intellectual property from U.S. semiconductor company Micron Technology Inc .
General Electric Co said the U.S. Securities and Exchange Commission had expanded its probe of GE’s accounting to include a $22.8 billion writedown of goodwill from GE’s power division.
Coca-Cola Co’s quarterly revenue and profit beat analysts’ estimates on Tuesday, as investments to cater to changing consumer tastes paid off with higher sales of its sugar-free sodas and premium waters.
Uber defended its business model at the Court of Appeal on Tuesday in the latest stage of a long-running battle over the classification of its drivers as self-employed, a designation that entitles them to few workplace rights in Britain.
Mastercard Inc’s third-quarter profit rose 33 percent, it said on Tuesday, joining rival payments network Visa Inc in reporting higher earnings led by rising U.S. consumer spending.
The year is still not finished, but we can safely say that PayPal CEO Dan Schulman is being awarded Wall Street Reporter’s prestigious ASSHOLE OF THE YEAR award. This […]
Chesapeake Energy Corp is buying oil producer WildHorse Resource Development Corp in a nearly $4 billion deal, it said on Tuesday, as it looks to increase oil production capacity during a period of rising crude prices.
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
