Business & Finance News
U.S. stocks opened slightly lower on Wednesday, as the second U.S.-North Korean nuclear summit kicked off and tensions flared up between nuclear-armed neighbors India and Pakistan.
Ford Motor Co’s joint venture with China Changan Automobile Group has decided not to renew its contract with some agencies supplying it with workers, as carmakers struggle to cope with slumping sales in China.
Best Buy Co Inc gave an upbeat profit forecast for the year while reporting better-than-expected holiday-quarter sales on Wednesday, as it benefited from higher demand for wearable devices, gaming consoles and appliances.
Wall Street was set to open slightly lower on Wednesday, mirroring losses in global markets, as the second U.S.-North Korean nuclear summit kicked off and tensions flared up between nuclear-armed neighbors India and Pakistan.
Off-price apparel retailer TJX Cos Inc reported better-than-expected quarterly same-store sales on Wednesday, as steep discounts drove more shoppers to its T.J. Maxx and Marshalls stores during the holiday season.
Volkswagen said on Wednesday it had struck a deal with Microsoft to cooperate on cloud computing in China and the United States, as part of its drive to offer connected vehicle services across the globe.
U.S. home improvement chain Lowe’s beat Wall Street earnings forecasts on Wednesday, but reported disappointing sales growth as it predicted more weakness in Canada following the closure of dozens of unprofitable stores.
Oil rallied for a second day on Wednesday, buoyed by an unexpected decline in U.S. crude inventories and after Saudi Arabia appeared undaunted by pressure from U.S. President Donald Trump on OPEC to prevent steeper price rises.
Drugs and lab supplies maker Merck KGaA is offering to buy Versum Materials in a cash deal valuing it at $5.9 billion including debt, pitting the German group against Entegris which last month also bid for the electronic materials maker.
Campbell Soup Co on Wednesday reported better-than-expected adjusted earnings, helped by its acquisitions of Snyder’s-Lance and Pacific Foods.
U.S. stock index futures edged lower on Wednesday, mirroring global markets, as the second U.S.-North Korean nuclear summit kicked off and fresh hostilities erupted between nuclear-armed neighbors India and Pakistan.
Global stocks traded lower on Wednesday after fresh hostilities between India and Pakistan led Asian assets to slip and investors sought “safe havens” such as the yen and Swiss franc.
Campbell Soup Co on Wednesday reported a quarterly loss, hurt by impairment charges of $346 million for its struggling fresh food business.
U.S. stock index futures edged lower on Wednesday, mirroring global markets, as the second U.S.-North Korean nuclear summit kicked off and fresh hostilities erupted between nuclear-armed neighbors India and Pakistan.
Best Buy Co Inc beat Wall Street estimates for fourth-quarter same-store sales on Wednesday as the biggest U.S. consumer electronics retailer sold more wearable devices, gaming consoles and appliances during the holiday quarter.
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
