SQN Investors LP said on Wednesday Yelp Inc’s shares could surge anywhere between $55 and $65, about 50-80 percent higher than its current price, if it implements the hedge fund’s recommendations to check its “underperformance”.
Goldman Sachs Chief Executive Officer David Solomon on Wednesday apologized to the Malaysian people for former banker Tim Leissner’s role in the sovereign wealth fund 1MDB scandal, but said the bank had conducted due diligence before every transaction.
Britain’s biggest carmaker Jaguar Land Rover (JLR) urged lawmakers to rule out the possibility that the country leaves the European Union without a deal, to prevent companies from having to make costly contingency planning.
Oil prices steadied on Wednesday after climbing about 3 percent in the previous session, with worries about the global economy and forecasts of swelling U.S. production dampening sentiment.
Furious companies facing weeks more uncertainty over an ever closer Brexit lashed out at politicians on Wednesday, and warned of chaos at ports and catastrophic job losses if Britain failed to secure a withdrawal deal with the European Union.
U.S. stocks opened higher on Wednesday, boosted by financial stocks after strong earnings from Goldman Sachs and Bank of America.
John Elkann, chairman of Ferrari and main shareholder in Exor , reiterated his support for Ferrari chief executive Louis Camilleri, denying speculation a top management purge could be on the cards.
CommonGrounds, a California start-up trying to carve out a niche in the crowded flexible workspace sector with movable office walls, has raised $100 million from three investors, including the Emirati developer of Dubai’s Burj Khalifa, the world’s tallest skyscraper.
Ford Motor Co forecast a weaker fourth quarter than analysts expected, and said on Wednesday it faced uncertainty in 2019 due to trade issues and Britain’s exit from the European Union, sending its shares down 2 percent in premarket trading.
U.S. import prices fell for a second straight month in December as the cost of petroleum products tumbled and a strong dollar curbed prices of other goods, leading to the largest annual drop in more than two years.
Shares of Snap Inc fell 9 percent in early trading on Wednesday after Tim Stone became the second finance chief to leave the Snapchat operator in a year since a much-criticized redesign.
Europe’s top court opened the way to a $2 billion damages claim by U.S. delivery company UPS on Wednesday by annulling a 2013 decision to stop it buying Dutch firm TNT Express.
Ryanair pilot unions in several countries have suspended talks with management in protest at what they see as the airline using the threat of base closures as a bargaining tool in labor talks, the European Cockpit Association (ECA) said on Wednesday.
Goldman Sachs topped analysts’ revenue estimates on Wednesday as stronger equities trading revenue cushioned bond trading losses, making it the only Wall Street bank so far to show growth in fourth-quarter trading revenue.
U.S. stock futures pointed to higher open on Wednesday, lifted by strong quarterly results from Bank of America and Goldman Sachs.
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
