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  • US Oil-Rig Count Rises

    US Oil-Rig Count Rises

    Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter. The number of oil rigs operating in the US this week rose for the first time in seven weeks. Receive News & Ratings Via Email - Enter your email... Continue reading

     
  • CBS, Viacom Plan Reunification to Create Entertainment Giant

    CBS, Viacom Plan Reunification to Create Entertainment Giant

    CBS (CBS) and Viacom (VIA, VIAB) confirmed their plans to reunite on Tuesday, with the combination set to create an entertainment company with more than $28 billion in revenue and include the largest television business in the US. The all-stock deal will see each Viacom Class A voting share and Class B non-voting share converted into 0.59625 of voting share... Continue reading

     
  • Thyssenkrupp Cuts Full-Year Forecast

    Thyssenkrupp Cuts Full-Year Forecast

    Thyssenkrupp (TKA.ETR) lowered its full-year forecast on Thursday and said that it would consider strategic alternatives for three of its businesses as it posted a decline in third-quarter revenue amid higher raw material costs for iron ore. The Essen, Germany-based maker of elevators and steel products reported net sales of 10.22 billion euros ($11.46 billion) in the three months ended... Continue reading

     
  • Wayfair Reports Better-Than-Expected Second-Quarter Results

    Wayfair Reports Better-Than-Expected Second-Quarter Results

    Wayfair (W) on Thursday reported better-than-expected results for the second quarter as online home-goods retailer saw a nearly 40% jump in active customers from the year before. The Boston-based company said its loss for the quarter ended June 30 widened to $1.35 on diluted non-GAAP basis from $0.77 in the prior-year period. Capital IQ had expected a loss of $1.37.... Continue reading

     
  • Cleveland Fed’s Mester Says More Information Needed Before Rate Cut Is Considered

    Cleveland Fed’s Mester Says More Information Needed Before Rate Cut Is Considered

    Cleveland Federal Reserve Bank President Loretta Mester said it’s too soon to determine whether the scenario of sustainable growth is still intact or whether downside risks are bringing a material change to the outlook and a policy rate cut would be needed. “I prefer to gather more information before considering a change in our monetary policy stance,” Mester said in... Continue reading

     
  • Worthington Industries Ups Dividend

    Worthington Industries Ups Dividend

    Worthington Industries (WOR) raised its dividend despite posting a year-on-year decline in its fourth-quarter revenue as a challenging steel pricing environment and lower volume in pressure cylinders weighed. The Columbus, Ohio-headquartered metals manufacturing company reported revenue of $938.8 million in the three months ended May 31, down from $1.02 billion in the corresponding quarter of the prior year, according to... Continue reading

     
  • Oil Steady As Focus Shifts From Mideast To G-20 Meeting

    Oil Steady As Focus Shifts From Mideast To G-20 Meeting

    Oil prices were mostly steady early on Tuesday as the market waits on any progress on ending the trade war between China and the United States at the upcoming G-20 meeting in Japan. West Texas Intermediate crude for August delivery was last seen up US$0.02 to US$57.92 per barrel while near-month Brent was down US$0.09 to US$64.77. While prices have... Continue reading

     
  • Middle East Stocks Mixed

    Middle East Stocks Mixed

    Mideast shares were mixed, with Gulf shares boosted by higher oil prices and hopes for US-China trade talks. Qatar climbed to the highest level since February. Oil prices jumped after Iran shot down an unarmed, unmanned US drone and said it did not intend to go to war but is ready for one. Saudi stocks, though, fell on fears of... Continue reading

     
  • Bluebird Down 5% on $1.8 Million Price Tag for Gene Therapy Zynteglo

    Bluebird Down 5% on $1.8 Million Price Tag for Gene Therapy Zynteglo

    Bluebird Bio (BLUE) shares were down 5% on Friday afternoon after the company earlier in the day set a price of EUR1.6 million ($1.8 million) over five years for its gene therapy Zynteglo, making it the second most expensive therapy in the world behind Novartis’ (NVS) Zolgensma at $2.1 million, according to media reports. A few hours later, Cowen analyst... Continue reading