Business & Finance News
U.S. home sales unexpectedly fell in June, posting their third straight monthly decline as a persistent shortage of properties on the market drove house prices to a record high, likely sidelining some potential buyers.
U.S. home sales fell for a third straight month in June as a persistent shortage of properties on the market pushed up house prices to a record high, likely sidelining some potential buyers.
U.S. stock indexes dipped on Monday, led by losses in shares of Amazon and technology companies, as investors awaited quarterly reports from a host of marquee names to gauge the impact of an escalating trade conflict between the United States and China.
Oilfield services provider Halliburton Co on Monday reported a sharp increase in quarterly revenue, but its shares fell by more than 6 percent as investors eyed growing pipeline constraints in the Permian Basin.
Shares of Papa John’s International Inc fell 8 percent on Monday after the Pizza chain said it would implement a “poison pill” stock dilution that would act against any move by founder John Schnatter to take a bigger stake.
Shares of Tesla Inc fell more than 4 percent in trading before the bell on Monday, after a report that the electric car maker has turned to some suppliers for a refund of previously made payments in a bid to turn a profit.
Oil prices rose on Monday on worries over supply after tensions worsened between Iran and the United States, while some offshore workers began a 24-hour strike on three oil and gas platforms in the British North Sea.
U.S. stocks opened flat on Monday as losses in technology names offset gains in energy stocks following a rise in crude oil prices.
U.S. stocks were set for a flat opening on Monday as investors awaited quarterly reports from a clutch of big U.S. manufacturers to gauge the impact of an escalating trade conflict between the United States and China.
Toymaker Hasbro Inc topped Wall Street estimates for profit and revenue in the second quarter as it emerged from the worst effects of last year’s Toys ‘R’ Us bankruptcy, sending its shares up nearly 12 percent.
Oilfield services provider Halliburton Co on Monday reported a 24 percent increase in quarterly revenue, narrowly beating analysts’ estimates, as higher oil prices sparked a surge in U.S. crude production activity.
Fiat Chrysler’s European boss has quit, adding to the problems facing new CEO Mike Manley who must deliver on promises to boost production of SUVs and catch up with rivals in electric cars.
Exxon Mobil Corp and its partners now expect the large Stabroek oil block offshore Guyana to contain about 25 percent more recoverable resources than estimated, they said on Monday.
Signs that the Bank of Japan (BoJ) might scale back its monetary stimulus faster than expected sent tremors through bond markets on Monday, while European stocks and U.S. futures slipped as threats of further U.S. tariffs on China drained risk appetite.
U.S. stock index futures were flat on Monday as investors assessed the impact of an escalating trade conflict between the United States and China on corporate results in an earnings-heavy week.
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