Business & Finance News
Wall Street’s main indexes were set for a flat open on Thursday as investors awaited more developments around trade, while Netflix posted a surprise drop in U.S. subscribers, kicking off earnings for the FAANG group of stocks on a sour note.
Morgan Stanley reported a drop in quarterly profit but beat analysts’ expectations on gains in its wealth-management business and lower expenses.
Southwest Airlines Co joined U.S. rivals on Thursday in cancelling more flights until early November due to the continued grounding of Boeing Co’s 737 MAX, which has also prompted the low-cost carrier to freeze new pilot hiring.
Southwest Airlines Co said on Thursday it was removing Boeing Co’s 737 MAX jets from its flight schedule till early November, joining recent moves by rival U.S. carriers as the jet remains grounded worldwide.
Wall Street brokerages stuck to a positive outlook on Netflix Inc on Thursday, betting that a strong content slate for the rest of 2019 would reverse shock losses in U.S. subscribers in the second quarter that sank its stock price.
Morgan Stanley reported a drop in quarterly profit but beat analysts’ expectations on slim gains in its wealth management business and lower expenses.
Oil prices rose about 1% on Thursday after Iran said it had seized a foreign oil tanker in the Gulf amid rising tensions between Tehran and the West over the safety of shipping in the Strait of Hormuz, a vital gateway for energy exports.
U.S. stock futures slipped on Thursday after streaming pioneer Netflix posted its first drop in U.S. subscribers since 2011, kicking off earnings for the so-called FANG group on a sour note.
Brussels gave its blessing to Vodafone’s $22 billion purchase of Liberty Global’s cable networks in Germany and central Europe, clearing the way for the British company to become Europe’s largest mobile, broadband and TV provider.
Global shares slipped on Thursday on growing signs that a trade dispute between the United States and China was taking a toll on corporate earnings, with nerves spreading from Wall Street through Asia to European markets.
Morgan Stanley reported a 10% fall in quarterly profit on Thursday as low market volatility crimped trading and advisory revenue.
British online fashion retailer ASOS warned on profits for the third time since December, saying problems ramping up warehouses in the United States and Germany had restricted product availability, hitting sales and raising costs.
Oil prices rose about 1% on Thursday after Iran said it had seized a foreign oil tanker in the Gulf amid rising tensions between Tehran and the West over the safety of shipping in the Strait of Hormuz, a vital gateway for energy exports.
Booming stock markets around the globe helped Goldman Sachs Group Inc offset declines in other businesses last quarter, but those gains may not be sustainable, analysts said.
General Motors Co was set on Thursday to unveil its newly designed mid-engine 2020 Corvette in a splashy tribute to its emblematic sports car, even as the No. 1 U.S. automaker faces mounting pressures in a sluggish and uncertain global sales environment.
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