Daniel Loeb’s Third Point takes stake in American Express, sees shares rallying to $135
Daniel Loeb’s Third Point Capital added a new stake in American Express of 5 million shares, according to a filing with the Securities and Exchange Commission. American Express shares pared their losses following news of the stake from the...
Shares of electricity provider PG&E plunge as wildfires ravage California
Shares of PG&E plunged more than 12 percent on Friday as wildfires continued to rage through California. The decline put the stock on pace for its worst day since Dec. 21, 2017, when it dropped nearly 13 percent. PG&E is...
Shares of electricity provider PG&E have worst day since 2002 as wildfires ravage California
Shares of PG&E plunged more than 16 percent on Friday as wildfires continued to rage through California. This was the biggest one-day decline for the stock since Aug. 8, 2002, when the stock plummeted 29.8 percent. PG&E also traded 23.6...
How Jamie Dimon plans to win tech IPOs and break up the Goldman-Morgan Stanley duopoly
Morgan Stanley and Goldman Sachs have long dominated the technology IPO world, with one of them winning the lead spot on almost all of the past decade’s biggest offerings. That list includes Facebook, Twitter, Snap and Dropbox. J.P. Morgan...
Wholesale inventories gain slightly more than expected in September
U.S. wholesale inventories gained slightly more than estimated in September. The Commerce Department said that wholesale inventories rose 0.4 percent in September, better than the 0.3 percent gain expected by economists surveyed by Refinitiv. Wholesale inventories gained 0.9 percent...
Consumer sentiment tops expectations in November, stays on pace for best year since 2000
A preliminary reading on consumer sentiment for November released on Friday came in slightly above expectations. The University of Michigan’s consumer sentiment index hit 98.3. Economists polled by Refinitiv expected the preliminary read to come in at 98, slightly below...
Here’s what every major analyst said about Disney’s earnings and its new streaming service
Disney’s better-than-expected earnings and upcoming streaming service have Wall Street glowing as the longtime media giant enters a whole new world of content delivery. Shares jumped nearly 3 percent in early trading Friday, adding to their 8 percent gain for...
US wholesale prices jump 0.6% in Oct, the most in 6 years
U.S. wholesale prices rose by the most in six years last month, led higher by more expensive gas, food, and chemicals. The Labor Department said Friday that the producer price index — which measures price increases before they reach the...
Stocks making the biggest move premarket: GE, DIS, PG, MNST, STNE & more
Check out the companies making headlines before the bell: General Electric – J.P. Morgan Securities analyst Stephen Tusa cut his price target on the stock to $6 from $10, saying the most recent earnings report was worse than expected...
The CEO of stricken private equity giant Abraaj is not to blame for its collapse, lawyer says
The lawyer for embattled private equity CEO Arif Naqvi says his client is not to blame for the collapse of his Abraaj investment fund, but admits that the scandal has done “some damage” to the reputation of Dubai. “There...
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