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Market Update

FedEx Plunge Extends Loss to 32%, General Mills Reaffirms Outlook

Mukesh Buch
19 Dec, 2018
New York City

FedEx lowered fiscal outlook despite strong results. General Mills reaffirmed fiscal forecast. Jabil Circuit net surged 94% on 16% jump in revenues. Micron Technology reported better-than-expected results. Paychex jumped after strong second-quarter results.

Glaxo to Split and Combine Consumer Unit with Pfizer, Ceconomy Tumbles

Sarla Buch
19 Dec, 2018
New York City

Ceconomy tumbled on weak fiscal forecast. Glaxo plans to split into two businesses and the U.S. rival Pfizer agreed to combine consumer health care unit. Natixis booked

Oracle Repurchased $10 B of Stock, Navistar Held Out Optimistic Outlook

Mukesh Buch
18 Dec, 2018
New York City

Darden Restaurants gained on 36% jump in profit and better-than-expected same store sales growth estimate. Navistar surged. Oracle revenues fell. Red Hat revenues soared. Steel Dynamics rose on improved forecast. Worthington Industries plunged 10%.

T-Mobile, Sprint Deal Wins U.S. Approval; Cherry AB Receives LBO Offer

Sarla Buch
18 Dec, 2018
New York City

Cherry AB surged on takeover bid. T-Mobile and Sprint won takeover approval from the U.S. national-security officials. Eiffage SA agreed to buy 5.3% stake in the tunnel operator Getlink. Royal Dutch Shell is in talks to buy Endeavor Energy Resources.

Boeing Acquires 80% in Embraer, WellCare Lowers Outlook

Mukesh Buch
17 Dec, 2018
New York City

The Boeing agreed to acquire 80% stake in Brazil-based Embraer for $5.3 billion. Japan-based Taisho Pharmaceutical plans to buy Bristol-Myers Squibb

ABB Agreed to Sell Power Grids Business to Hitachi, Asos Plunges

Sarla Buch
17 Dec, 2018
New York City

Asos Plc plunged nearly 40% after the U.K. based online retailer lowered growth outlook. All for One Steeb beats earnings estimates. ABB plan to sell its 80.1% in its power grids business to Japan-based Hitachi.

Pivotal Rides Shift to Cloud, Progressive Net Jumps 57%

Mukesh Buch
12 Dec, 2018
New York City

Pivotal Software beats earnings estimates. Photronics net surged 55% on 20% jump in revenues. Progressive Corp net jumped 57%. Vera Bradley net soared but revenues plunged.

Fred's Net Loss Narrows, Lee Enterprises Profit Surges

Mukesh Buch
14 Dec, 2018
New York City

Fred''''s net loss narrowed despite a drop in net sales. KalVista Pharmaceuticals net loss narrowed. Lee Enterprises net surged 28% but revenues fell. Vince Holding beat earnings estimates.

Ascena Retail, DSW Surge on Outlook, Casey's Gen Reported Strong Results

Mukesh Buch
11 Dec, 2018
New York City

Ascena Retail net plunged on flat revenues. American Water Works reaffirmed fiscal 2018 forecast. Casey''s General reported better-than-expected results. DSW net plunged but lifted fiscal outlook. Enbridge reaffirmed fiscal outlook. Synnex revised fiscal outlook higher.

Inditex Misses Estimates, Rolls Royce Soars 5% on Forecast

Sarla Buch
12 Dec, 2018
New York City

Dixons Carphone net swung to a loss on weak revenues. Marshalls said revenues surged 14% and the company agreed to acquire concrete brick maker Edenhall. Inditex missed earnings estimates. Rolls-Royce soared on strong operating profit forecasted.

LVMH to Buy Belmond, Balfour Beatty Says Profit May Beat Expectations

Sarla Buch
14 Dec, 2018
New York City

Balfour Beatty forecasted profits is likely to be ahead of expectations. LVMH agreed to acquire luxury hotels operator Belmond for $3.2 billion. SThree forecasted gross profit to jump 12%.

GAM Drops to 20-year Low on Record Loss; Metro, Tui Profit Soar

Sarla Buch
13 Dec, 2018
New York City

G4S plans to separate its cash and security business. GAM tumbled after the company was forced to write down assets linked to fraud. Metro profit jumped but revenues fell. Tui profit surged but pre-tax profit declined 10%.

Adobe, Costco Profit Surge; Danaher, United Rentals Reaffirms Outlook

Mukesh Buch
13 Dec, 2018
New York City

Adobe missed earnings estimates but net jumped 35%. Costco reported strong first-quarter results. Ciena beats estimates. Danaher reaffirmed fiscal outlook. First Solar jumped on higher fiscal earnings forecasts.

Ashtead, Aurubis Report Strong Results, BPM Sells

Sarla Buch
11 Dec, 2018
New York City

Ashtead beats profit estimates largely because of strong demand for its equipment rental business in the U.S. Banco BPM agreed to sell its

Travelport Agrees to $4.4 B Deal, Tivity to Buy Nutrisystem

Mukesh Buch
10 Dec, 2018
New York City

Mitek Systems received revised higher offer from ASG Technologies. Travelport agreed to be acquired for $4.4 billion. Tivity Health agreed to acquire Nutrisystem for $1.4 billion.