Editor – Page 5685

Tesla reports wider loss than expected, expects to be profitable in the 2nd half of the year as it ramps up Model 3 production (TSLA)

August 1, 2018 Editor Comments Off

Tesla recently pushed back the delivery timelines for new orders of two of three versions of its Model 3 sedan. Investors and analysts have been interested in any updates on the pace of production of the mass-market cars, and whether Tesla may need to raise additional capital even after CEO Elon Musk said otherwise. Tesla reported a negative free cash flow of $739 million, smaller than analysts had forecast, and less than the $1.05 billion burn in Q1. …read more […]

Icahn, with sizable stake in Cigna, to oppose Express Scripts acquisition – WSJ

August 1, 2018 Editor Comments Off

Billionaire investor Carl Icahn has a sizable stake in health insurer Cigna and plans to vote against its planned $52 billion acquisition of pharmacy benefits manager Express Scripts , the Wall Street Journal reported https://www.wsj.com/articles/carl-icahn-has-sizable-stake-in-cigna-plans-to-vote-against-express-scripts-deal-1533150217 on Wednesday.

…read more […]

Stocks sink amid trade war fears but Apple results cap losses

August 1, 2018 Editor Comments Off

Stocks fell worldwide on Wednesday amid fears of an escalation of the trade war between the United States and China although robust results from Apple Inc helped cap losses.

…read more […]

S&P, Dow lower after Fed decision; tech boosts Nasdaq

August 1, 2018 Editor Comments Off

The S&P 500 and the Dow edged lower but technology stocks buoyed the Nasdaq on Wednesday after the Federal Reserve held interest rates steady but remained on course for an expected hike in September.

…read more […]

Apple’s ride to $1 trillion: The magic number that gets it there

August 1, 2018 Editor Comments Off

Apple is close to becoming the first publicly listed U.S. company valued at $1 trillion, but figuring out exactly how close requires doing a little math.

…read more […]

Wells Fargo to pay $2.09 billion fine over decade-old mortgage loans

August 1, 2018 Editor Comments Off

Wells Fargo has agreed to pay $2.09 billion in penalty to settle claims related to mortgage loans originated in the run-up to the financial crisis.

…read more […]

Amazon, other shippers form group to lobby on U.S. Postal Service issues

August 1, 2018 Editor Comments Off

Amazon.com Inc and other retail and logistics companies said on Wednesday they had started a new group to lobby to keep the U.S. Postal Service’s package delivery services “reliable and affordable.”

…read more […]

Deal with U.S. on key NAFTA rule closer, Mexico and Canada say

August 1, 2018 Editor Comments Off

The United States and Mexico are getting close to a deal on the key issue of autos content rules at talks to renew the NAFTA trade pact, Mexican and Canadian officials said on Wednesday.

…read more […]

Ferrari CEO calls Marchionne’s goals to 2022 ‘aspirational’, shares fall

August 1, 2018 Editor Comments Off

Ferrari’s new boss sought to reassure investors that he would execute midterm targets set by his predecessor, Sergio Marchionne, but the stock fell more than 8 percent on Wednesday when he described the goals to 2022 as “aspirational”.

…read more […]

Fed leaves rates unchanged, stays on course for September hike

August 1, 2018 Editor Comments Off

The U.S. Federal Reserve kept interest rates unchanged on Wednesday but characterized the economy as strong, keeping the central bank on track to increase borrowing costs in September.

…read more […]

Chesapeake CEO Rejects Founder McClendon’s Wide-Open Gabfests

August 1, 2018 Editor Comments Off

Chesapeake Energy Corp. CEO Doug Lawler’s frugality with payrolls and drilling budgets apparently extends to the spoken word. Lawler sticks to his bullet points during earnings calls and rarely allows those events to go much beyond the half-hour mark. …read more […]

Wells Fargo to pay $2.09 billion fine over loan quality: DoJ

August 1, 2018 Editor Comments Off

Wells Fargo will pay $2.09 billion in penalty for alleged misrepresentation of loan quality, the U.S. Department of Justice said on Wednesday.

…read more […]

U.S. new vehicle sales drop in July

August 1, 2018 Editor Comments Off

Major automakers on Wednesday reported lower U.S. new vehicle sales for July amid steep declines in passenger cars, except Fiat Chrysler Automobiles NV (FCA) , which said its sales climbed 6 percent.

…read more […]

S&P dips ahead of Fed decision; Apple keeps Nasdaq higher

August 1, 2018 Editor Comments Off

The benchmark S&P 500 index dipped on Wednesday, ahead of the Federal Reserve’s decision on interest rates, but Apple’s robust earnings lifted the technology sector and the Nasdaq.

…read more […]

The Latest: Trump suggest Manafort treated worse than Capone

August 1, 2018 Editor Comments Off

President Donald Trump is invoking one of the nation’s most notorious criminals in venting about the treatment of former campaign chairman Paul Manafort as he begins trial. Trump, in the midst of an angry tweet storm Wednesday about special counsel Robert Mueller’s Russia investigation, asked the public “who was treated worse,” 1920s gangster Al Capone or Manafort. …read more […]