Business & Finance News
U.S. stocks hovered below their all-time highs on Wednesday, as investors digested a mixed batch of earnings reports and losses in energy stocks limited gains on the indexes.
Oil and gas producer Occidental Petroleum Corp on Wednesday started the first takeover battle for a major oil company in years, offering $38 billion, or $57 billion including debt, for Anadarko Petroleum Corp, a bid that topped an offer by Chevron Corp.
Boeing removed 210 aircraft from its order backlog to reflect concerns about customer credit quality and took a customer financing impairment on Thursday.
Anthem Inc on Wednesday posted a better-than-expected quarterly profit and laid out its plans to transition most customers to its revamped pharmacy benefits business this year.
The S&P 500 moved closer to its all-time high on Wednesday, while technology stocks nudged the Nasdaq to a record level, as investors took heart from a largely upbeat earnings season.
The euro fell against the U.S. dollar on Wednesday after data showing a surprise deterioration in business morale in Germany stoked fears of slowing global growth and weighed on a gauge of world equity markets.
AT&T Inc’s first-quarter revenue fell short of Wall Street estimates on Wednesday after it lost subscribers in nearly all of its main businesses except wireless, where it paid heavily to gain customers through price promotions.
Caterpillar Inc spooked investors for a second straight quarter as rising costs hit margins in its construction equipment business and tepid sales in the Asia Pacific region pointed to continuing subdued growth in China.
Walmart Inc said on Wednesday it would enter the U.S. beef industry by creating an end-to-end supply chain of Angus beef, as it looks to offer higher quality meat to customers in an intensely competitive grocery industry.
Boeing Co on Wednesday abandoned its 2019 financial outlook, halted share buybacks and said lowered production due to the grounding of its fastest-selling 737 MAX jet after two fatal plane crashes in five months had cost it at least $1 billion so far.
The return of the Boeing Co 737 MAX to service in the wake of two deadly crashes will be paced by global regulators and customers, the planemaker’s top executive said on Wednesday.
Ford Motor Co said on Wednesday it will invest $500 million in U.S. electric vehicle startup Rivian Automotive LLC, joining Amazon.com Inc in backing the potential rival to Silicon Valley’s Tesla Inc.
U.S. stocks pulled back slightly on Wednesday after a record-setting rally in the prior session, as investors digested a batch of mixed earnings reports.
Boeing removed 210 aircraft from its order backlog to reflect concerns about customer credit quality and took an impairment at its Boeing Capital financing unit on Thursday.
Developer Related Companies said on Tuesday one of its affiliates has agreed to buy the global headquarters of AT&T’s WarnerMedia in Manhattan for about $2.2 billion, in one of the city’s most expensive commercial real estate deals.
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