Business & Finance News
Investors betting on industrial stocks this year have been rewarded, with the group among the best-performing sectors so far, but that strength will be tested in the coming weeks as companies report results.
With U.S. stocks a stone’s throw away from hitting a record high, Wall Street’s so-called “fear gauge” slipped to a fresh six-month low on Friday, in a sign investors expect the good times to keep rolling.
Mexican government and business leaders met with U.S. counterparts for a second straight day on Friday, seeking to resolve border delays hurting commerce, hasten ratification of a trade deal, and address metals tariffs.
Campbell soup Co said on Friday it would sell its Bolthouse Farms business to an affiliate of private equity firm Butterfly Equity for $510 million, in the U.S. food company’s first major sale as part of its cost-cutting divestiture plan.
Wells Fargo & Co shares fell as much as 3 percent on Friday after the bank dialed back its net interest income outlook for this year and reported a decline in total quarterly revenue.
U.S. stocks rose on Friday, lifting the S&P 500 above the 2,900 mark for the first time since early October, boosted by gains in Walt Disney shares and as bank stocks surged after strong results from JPMorgan.
JPMorgan Chase & Co’s better-than-expected first-quarter earnings raised expectations that rival Wall Street lenders would follow suit when they report next week, pushing most bank stocks higher on Friday.
BlackRock Inc, the world’s largest asset manager, cut total compensation for Chairman and Chief Executive Officer Larry Fink by 4.3% in 2018, according to a filing on Friday.
General Electric Co will pay a $1.5 billion civil fine to resolve a long-running U.S. investigation into defective subprime mortgages offered by its former WMC Mortgage unit prior to the 2008 global financial crisis.
Shares of Walt Disney Co touched an all-time high on Friday after Wall Street analysts said the aggressive pricing of its new video streaming service could help it better compete with Netflix Inc.
The European Commission has drawn up a list of U.S. imports worth around 20 billion euros ($22.6 billion) that it could hit with tariffs over a transatlantic aircraft subsidy dispute, EU diplomats said on Friday.
General Electric Co will pay a $1.5 billion civil penalty to resolve claims related to subprime residential mortgage loans offered by its WMC Mortgage unit, the U.S. Department of Justice said on Friday.
Mexico’s new government has indicated it does not wish to roll back an energy overhaul passed by the previous administration which opened up oil production and exploration to private capital, a senior U.S. government official said on Friday.
Shares of Wells Fargo & Co reversed course to trade lower on Friday after the lender cut its 2019 net interest income forecast and said it would not provide a timeline on when a Federal Reserve cap on balance sheet growth will be lifted.
Wells Fargo & Co’s aggressive cost cutting helped boost its quarterly profit, but shares in the lender fell 3 percent on Friday after it dialed back its forecast for how much net interest income it would bring in this year.
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