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Market Update

GE to Merge Engine Unit with Wabtec, Fifth Third Buys MB Financial

Mukesh Buch
21 May, 2018
New York City

Blackstone agreed to acquire LaSalle Hotel $4.8 billion. Fifth Third Bancorp agreed to buy MB Financial in $4.7 billion. GE will merge its transportation business with Wabtec for $11 billion. Micron Technology lifted third-quarter revenues and profit forecast.

British Air Parent Pursues Norwegian Shuttle, Ryanair Lowers Profit Estimate

Sarla Buch
21 May, 2018
New York City

EDF is reported to be in talks to sell its 49% stake in the U.K.-based wind farms business. The U.K. competition regulator plans to investigate the proposed merger of two retailers Sainsbury and Asda. Ryanair warned fiscal 2019 profit is likely to be affected by higher energy prices.

PayPal Buys Swiss-based iZettle, Deere to Lift Prices and Posted Mixed Results

Mukesh Buch
18 May, 2018
New York City

Campbell tumbled on weak outlook. Deere & Co profit jumped. Flowers Foods net declined but reaffirmed fiscal outlook. PayPal agreed to buy Sweden-based rival iZettle for $2.2 billion.

Crestor Sales Drop Dampens AstraZeneca, Richemont Growth Anchored in China

Sarla Buch
18 May, 2018
New York City

AstraZeneca profit declined after Crestor sales decline in Europe and Japan affected results. Lloyds agreed to sell its Ireland-based residential mortgage business to Barclays for

Walmart Online Sales Soar but Net Income Tumbles, Cisco Earnings Jump 7%

Mukesh Buch
17 May, 2018
New York City

Cisco reported better-than-expected results. Children''s Place declined after profit plunged. Dillard''s profit and revenues beat estimates. JC Penney tumbled despite net loss narrowed. Walmart online sales surge and sales international markets advances.

Ocado Surges on Kroger Deal, Telecom Italia and Bouygues Add Subscribers

Sarla Buch
17 May, 2018
New York City

Bouygues net swung to profit after the telecom unit added more subscribers. Ocado surged on a technology deal with the U.S.-based The Kroger Co. Telecom Italia net jumped on a steady increase in mobile service subscribers. Suedzucker profit fell as sugar prices continued to drift lower.

Macy's Surges on Sales Increase Surprise, Canadian Solar Net Plunges

Mukesh Buch
16 May, 2018
New York City

Canadian Solar net plunged 29% but revenues soared 28%. GTx net loss widened. Macy''s surged after sales increased more than expected and the retailer lifted outlook. ObsEva net loss widened.

Alstom Sales Rise as Signaling Sales Inch Up, Elior Tumbles on Outlook

Sarla Buch
16 May, 2018
New York City

Alstom annual sales rise as deliveries in Europe and Asia and Middle East jump and signaling and system sales increase to 57%. Elior tumbled 17% on profit warning. Leoni profit surged and lifted fiscal outlook. Wirecard revenues soared 53%.

Home Depot, Eagle Materials Report Solid Results on Construction Strength

Mukesh Buch
15 May, 2018
New York City

American Midstream Partners net loss narrowed on higher revenues. Eagle Materials reports rising earnings as construction industry stays strong. Goodrich Petroleum net edged down despite revenues jumped 25%. Home Depot reports healthy same store sales growth.

Credit Agricole Misses Estimates, ThyssenKrupp Benefits from Steel Price Gains

Sarla Buch
15 May, 2018
New York City

Credit Agricole profit declined on weak retail and capital markets. Commerzbank profit jumped but revenues slumped. Merck profit tumbled 35% and the pharmaceuticals maker reaffirmed fiscal 2018 revenues forecast. ThyssenKrupp net swings to profit on the steel prices revival.

Xerox Terminates Fujifilm Merger and Strikes Deal with Activists Investors

Mukesh Buch
14 May, 2018
New York City

Cambium Learning fell on weak results. Nine Energy said net swung to profit after revenues surged 13%. OptiNose net loss widened. Xerox said it terminated planned $6.1 billion merger deal with Japan-based Fujifilm Holdings.

European Markets Slide, Energy Stocks Turn Volatile

Sarla Buch
14 May, 2018
New York City

Aumann profit soared on 25% jump in revenues. Cancom plunged despite net and revenues surged. ElringKlinger revenues were lower after the spinoff of Hug Group. Innogy revenues declined on weak domestic business.

Thomson Reuters Announces Stock Buy Back, TiVo Loss Narrows

Mukesh Buch
11 May, 2018
New York City

Jagged Peak Energy net loss narrowed on strong revenues. Thomson Reuters announced new $500 million share buyback program. TiVo Corp net loss narrowed.

Air France KLM April Traffic Drops, John Wood Soars 9%

Sarla Buch
11 May, 2018
New York City

Air France KLM said passenger numbers in April dropped 2.5%. BBA Aviation said revenues soared 10%. John Wood Group surged after the oil service provider offered optimistic views.

Duke Energy Net Jumps on Rising Electricity Demand, JetBlue Traffic Jumps

Mukesh Buch
10 May, 2018
New York City

AMC Networks reported strong first-quarter results. Duke Energy reported higher demand in electric utilities business helped quarterly revenues. Enbridge net tumbled 30%. JetBlue Airways April passenger count jumped 5.7%. Revlon net loss widened.