Business & Finance News
Short-seller Andrew Left’s Citron Research expanded on his prediction that U.S. drugmaker AbbVie Inc’s stock would fall to $60 a share, arguing that new regulations to speed biosimilar drugs to the market and reform rebates will hurt revenue from the company’s top-selling drug, Humira.
Segway-Ninebot Group, a Beijing-based manufacturer of electric scooters, rolled into Los Angeles this week hoping to bolster its position as the main supplier for a new wave of well-funded scooter-rental startups and offer a peek at new battery-powered transit products.
The S&P 500 and Dow Industrials rose on Tuesday as Alphabet’s blowout results bolstered expectations of a robust earnings season, though a decline in the Nasdaq pointed to lingering concerns over trade tensions.
Occidental Petroleum Corp is exploring a sale of its pipeline assets, hoping to fetch more than $5 billion and free up capital to invest in exploration and production as oil prices rebound, people familiar with the matter said on Tuesday.
U.S. President Donald Trump’s oldest daughter, Ivanka Trump, said on Tuesday she is closing her fashion line to focus her energies on advising her father’s White House.
The National Transportation Safety Board said on Tuesday it will hold an investigative hearing in November about a midair incident in April in which an engine on a Southwest Airlines Boeing 737 exploded over Pennsylvania, killing one passenger.
U.S. President Donald Trump’s oldest daughter, Ivanka Trump, is closing her fashion line to focus her energies on advising her father’s White House, she said through a representative on Tuesday.
Ivanka Trump is winding down her namesake apparel brand, the company said, a year after U.S. President Donald Trump’s daughter separated herself from the company and entered the White House as a senior adviser.
U.S. prosecutors on Tuesday said they will narrow a case against several former Insys Therapeutics Inc executives accused of bribing doctors to prescribe a potent opioid after a federal judge questioned the scope of the indictment charging them.
The Nasdaq Composite hit a record high on Tuesday as Alphabet’s blowout results sparked a rally in high-growth stocks and bolstered expectations of a robust earnings season, while a rise in oil and metal prices boosted energy and material companies.
Ford Motor Co said on Tuesday it was creating a separate $4 billion unit to house its self-driving vehicle operations and is seeking outside investors, following a similar move in late May by Detroit rival General Motors Co with its Cruise Automation unit.
Eli Lilly and Co said on Tuesday it would take its Elanco animal health business public and posted a better-than-expected quarterly profit, helped by demand for its diabetes drugs Trulicity and Humalog.
The Nasdaq Composite hit a record high on Tuesday as Alphabet’s blowout results sparked a rally in high-growth stocks and bolstered expectations of a robust earnings season, while a rise in oil and metal prices boosted energy and material companies.
A rapid rise in the dollar has hurt second-quarter financial results and some U.S. companies are warning that the pressure could persist in future quarters.
Verizon Communications Inc on Tuesday reported quarterly profit and revenue that topped estimates but added fewer-than-expected monthly subscribers amid a dearth of special promotions.
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