August 2018 – Page 157

S&P, Dow edge down after Fed decision; tech boosts Nasdaq

August 1, 2018 admin Comments Off

The S&P 500 and Dow slipped on Wednesday as gains in Apple shares were offset by a drop in energy and industrial companies, while the U.S. Federal Reserve remained on course for an expected interest rate hike in September. The central bank left rates unchanged, and reiterated its view that the U.S. economy is growing and the job market is strengthening, and inflation continues to hover near the Fed’s 2 percent target since it last raised rates in June. “The Fed demonstrated that they are willing to let the economy run a little hot as long as they …read more […]

Tesla expects to hit more than 6000/week Model 3 production rate

August 1, 2018 admin Comments Off

Tesla Inc said on Wednesday it expects to increase Model 3 production to 6,000 per week by late August, buoying expectations that the Elon Musk-led electric vehicle maker will meet its goal of profitability and positive cash flow in the next two quarters.

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T-Mobile beats quarterly estimates for new wireless subscribers

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T-Mobile US Inc on Wednesday said it added more wireless subscribers than Wall Street had expected, as the third-largest U.S. wireless carrier gained customers, helped by its lower prices.

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Exclusive: Insurtech firm wefox in talks with suitors including Softbank – sources

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Wefox, one of Europe’s fastest-growing insurance technology firms, is close to settling on a new “triple-digit million” euro funding round, with Softbank’s Vision Fund among the suitors, three sources familiar with the negotiations said.

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Tesla reports wider loss than expected, expects to be profitable in the 2nd half of the year as it ramps up Model 3 production (TSLA)

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Tesla recently pushed back the delivery timelines for new orders of two of three versions of its Model 3 sedan. Investors and analysts have been interested in any updates on the pace of production of the mass-market cars, and whether Tesla may need to raise additional capital even after CEO Elon Musk said otherwise. Tesla reported a negative free cash flow of $739 million, smaller than analysts had forecast, and less than the $1.05 billion burn in Q1. …read more […]

Icahn, with sizable stake in Cigna, to oppose Express Scripts acquisition – WSJ

August 1, 2018 admin Comments Off

Billionaire investor Carl Icahn has a sizable stake in health insurer Cigna and plans to vote against its planned $52 billion acquisition of pharmacy benefits manager Express Scripts , the Wall Street Journal reported https://www.wsj.com/articles/carl-icahn-has-sizable-stake-in-cigna-plans-to-vote-against-express-scripts-deal-1533150217 on Wednesday.

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Stocks sink amid trade war fears but Apple results cap losses

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Stocks fell worldwide on Wednesday amid fears of an escalation of the trade war between the United States and China although robust results from Apple Inc helped cap losses.

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S&P, Dow lower after Fed decision; tech boosts Nasdaq

August 1, 2018 admin Comments Off

The S&P 500 and the Dow edged lower but technology stocks buoyed the Nasdaq on Wednesday after the Federal Reserve held interest rates steady but remained on course for an expected hike in September.

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Apple’s ride to $1 trillion: The magic number that gets it there

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Apple is close to becoming the first publicly listed U.S. company valued at $1 trillion, but figuring out exactly how close requires doing a little math.

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Wells Fargo to pay $2.09 billion fine over decade-old mortgage loans

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Wells Fargo has agreed to pay $2.09 billion in penalty to settle claims related to mortgage loans originated in the run-up to the financial crisis.

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Amazon, other shippers form group to lobby on U.S. Postal Service issues

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Amazon.com Inc and other retail and logistics companies said on Wednesday they had started a new group to lobby to keep the U.S. Postal Service’s package delivery services “reliable and affordable.”

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Deal with U.S. on key NAFTA rule closer, Mexico and Canada say

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The United States and Mexico are getting close to a deal on the key issue of autos content rules at talks to renew the NAFTA trade pact, Mexican and Canadian officials said on Wednesday.

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Ferrari CEO calls Marchionne’s goals to 2022 ‘aspirational’, shares fall

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Ferrari’s new boss sought to reassure investors that he would execute midterm targets set by his predecessor, Sergio Marchionne, but the stock fell more than 8 percent on Wednesday when he described the goals to 2022 as “aspirational”.

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Fed leaves rates unchanged, stays on course for September hike

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The U.S. Federal Reserve kept interest rates unchanged on Wednesday but characterized the economy as strong, keeping the central bank on track to increase borrowing costs in September.

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Chesapeake CEO Rejects Founder McClendon’s Wide-Open Gabfests

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Chesapeake Energy Corp. CEO Doug Lawler’s frugality with payrolls and drilling budgets apparently extends to the spoken word. Lawler sticks to his bullet points during earnings calls and rarely allows those events to go much beyond the half-hour mark. …read more […]