Business & Finance News
U.S. stocks rose on Thursday, as strong earnings from Microsoft helped Nasdaq-listed companies stage a rebound from the tech-heavy index’s worst decline since 2011 in the previous session.
U.S. business spending on equipment appeared to have remained slow in September and the goods trade deficit widened further as rising imports outpaced a rebound in exports, suggesting economic growth moderated in the third quarter.
Private equity firm KKR & Co Inc sees the chance to take advantage of the recent U.S. stock market plunge to make acquisitions, co-President and co-Chief Operating Officer Scott Nuttall said on Thursday.
American Airlines shares rose 4 percent on Thursday after the company said its profit margin for the current quarter would be higher than most on Wall Street expected, helped by a dip in fuel costs from their recent spike.
Merck & Co Inc and Bristol-Myers Squibb Co posted better-than-expected third quarter profit and raised their 2018 earnings forecasts on Thursday due to strong demand for their rival cancer immuno-oncology treatments.
Toshiba Corp is considering liquidating its British nuclear unit NuGen, two people with direct knowledge of the matter said on Thursday, leaving Britain to seek alternatives for a project that was meant to provide 7 percent of the country’s electricity.
U.S. stocks gained on Thursday, as strong corporate earnings, including from software company Microsoft and automaker Ford, helped ease nerves following a steep selloff in the prior session that sent the Nasdaq into correction territory.
Tesla Inc shares jumped 10 percent on Thursday as Wall Street analysts said the company had turned a corner with profitable third quarter results and might now be able to avoid raising more capital from its financial backers.
Paints and coatings maker PPG Industries said its board unanimously backed Michael McGarry as Chairman and CEO, in response to Nelson Peltz-owned Trian Fund Management’s call for his ouster.
Oil prices stabilized on Thursday, bouncing back from an early sell-off after Asian and European stock markets plunged in the wake of Wall Street’s biggest daily decline since 2011.
European and U.S. futures markets attempted a rebound on Thursday after Wall Street’s worst day since 2011 and heavy losses in Asia gave global stocks another boot towards their worst month since the financial crisis.
U.S. stocks opened higher on Thursday as a slew of strong earnings reports from companies including Microsoft and Ford helped lift sentiment.
Twitter Inc easily beat Wall Street’s revenue and profit estimates on Thursday, pushing its shares up 11 percent before the opening bell, as higher ad sales offset a drop in monthly users as the site removed accounts suspected of abuse.
New orders for key U.S.-made capital goods fell for a second straight month in September and the goods trade deficit increased further amid rising imports, suggesting economic growth moderated in the third quarter.
Tesla Inc’s blockbuster quarterly results and ability to generate free cash-flow wowed Wall Street on Thursday, with several analysts saying the electric carmaker may not need to raise capital soon to boost Model 3 production.
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