Business & Finance News
Companies in the S&P 500 index are expected to earn less in the fourth quarter than the year-earlier period, which would mark a second straight quarterly profit decline, according to IBES data from Refinitiv.
Retail subscription for Saudi Aramco’s initial public offering (IPO) reached 27.04 billion Saudi riyals ($7.21 billion) on Tuesday, lead manager Samba Capital said.
Activist investor Blackwells is pushing to remove Tom Barrack, a billionaire friend of President Donald Trump, as CEO of Colony Capital, saying his mismanagement of the real estate and investment firm has cost shareholders billions of dollars in lost gains.
U.S. President Donald Trump on Tuesday said the United States was in the “final throes” in its attempt to reach a trade deal with China, but that at the same time Washington stands with protesters in Hong Kong, where it wants to see democracy.
The United States and China are close to agreement on the first phase of a trade deal, White House adviser Kellyanne Conway said on Tuesday, after top negotiators from the two countries spoke by telephone and agreed to keep working on remaining issues.
The United States on Tuesday set out a procedure to protect its telecommunications networks and their supply chains from national security threats, saying it would consider whether to bar transactions on a case-by-case basis.
The New York Stock Exchange (NYSE) said on Tuesday it had filed with the U.S. Securities and Exchange Commission to allow companies going public through a direct listing, instead of an initial public offering, to raise capital.
Oil prices edged higher after news that U.S. and Chinese officials discussed trade on Tuesday, while predictions for a draw on U.S. crude stockpiles lent some support as well.
S&P 500 companies’ earnings are expected to decline in the fourth quarter from the year-earlier period, which could be a second straight quarterly profit fall for the group, according to IBES data from Refinitiv.
Dollar Tree Inc forecast holiday-quarter profit below Wall Street estimates on Tuesday, as the discount retailer fell short in its efforts to counter the impact of the latest U.S. tariffs on Chinese imports, sending its shares down about 17%.
Wall Street’s three main indexes hit all-time highs on Tuesday, as gains for Disney and Best Buy countered weak consumer confidence data and a slump in shares of discount store operator Dollar Tree.
U.S. consumer confidence fell for a fourth straight month in November amid worries about current business conditions and employment prospects, but remained at levels sufficient to support a steady pace of consumer spending.
Best Buy Co Inc signaled it expected a strong holiday shopping season by forecasting fourth-quarter profit above Wall Street estimates on Tuesday, sending shares of the biggest U.S. consumer electronics retailer up over 8%.
Teen apparel retailer Abercrombie & Fitch Co trimmed its annual sales growth forecast on Tuesday, blaming political issues from Brexit to the Hong Kong protests for keeping customers away from its stores outside the United States.
Sales of new U.S. single-family homes unexpectedly fell in October following recent strong gains, but the overall housing market remains supported by lower mortgage rates.
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