Square jumps after lackluster IPO pricing Thu, 26 Nov 15 07:06:20 GMT Shares of upstart credit card processor Square jumped almost 50% on Thursday after lackluster interest from investors in the company’s initial public offering depressed its value. | Read Complete Article |
Cramer: Big stock surprises with unlimited upside Thu, 26 Nov 15 07:07:11 GMT Jim Cramer reviews the good, bad, hidden and ugly stock surprises of the day on Thursday. It is the surprises that define a portfolio these days. | Read Complete Article |
Asian shares hang on to gains, commodities battered Thu, 26 Nov 15 07:17:31 GMT Commodity prices were pressured, with copper near 6-1/2-year lows and a major sea freight index hitting its lowest level on record, underscoring worries over slackening world demand. “People who sold shares in the summer on concerns about a slowdown in China are buying back. | Read Complete Article |
Volkswagen faces pressure in U.S. to buy back older diesel cars Thu, 26 Nov 15 07:18:14 GMT A California Air Resources Board spokesman said officials at the automaker are scheduled to meet Friday with CARB and the U.S. Environmental Protection Agency to present detailed proposals for recalling and fixing about 482,000 vehicles sold in the United States with diesel engines that emit more smog-forming pollutants than allowed by law. California has set a Nov. 20 deadline for Volkswagen to come up with a plan to fix the diesel cars affected by its rigging of emissions tests. | Read Complete Article |
Gap cuts full-year profit forecast as dollar weighs Thu, 26 Nov 15 07:20:41 GMT A series of fashion misses, particularly in women’s merchandise, have turned shoppers away from the Gap brand toward competitors such as American Eagle Outfitters Inc (AEO.N), H&M, Forever 21 and Inditex’s (ITX.MC) Zara. The strengthening of the dollar, particularly against the Japanese yen and Canadian dollar, hit sales by about $100 million in the third quarter, the company said on Thursday. Company-wide comparable sales fell 2 percent, dragged by a 4 percent drop at the Gap brand and a 12 percent decline at the Banana Republic division. | Read Complete Article |
Oil edges lower to near three-month lows on surplus supply Thu, 26 Nov 15 07:21:34 GMT Oil futures gave up early gains to trade near three-month lows on Friday on a persistent supply glut that has cut prices by up to 13 percent since the start of November. U.S. crude West Texas Intermediate (WTI) dipped 11 cents to $40.43 a barrel as of 0731 GMT, after edging up in earlier trades. | Read Complete Article |
Exclusive: U.S. probes Bosch in VW cheating scandal – sources Thu, 26 Nov 15 07:22:19 GMT U.S. authorities are investigating German auto supplier Robert Bosch GmbH [ROBG.UL] over its role in Volkswagen AG’s (VOWG_p.DE) massive scheme to cheat U.S. emission standards, according to people familiar with the matter. Federal prosecutors with the U.S. Department of Justice are examining whether Bosch, the world’s largest auto supplier, knew or participated in Volkswagen’s years-long efforts to circumvent U.S. diesel emissions tests, the people said. Bosch built key components in the diesel engine used in six Volkswagen models and one Audi model that the automaker has admitted to rigging to defeat emissions tests. | Read Complete Article |
Dorsey’s Square jumps in market debut, offering hope to tech startups Thu, 26 Nov 15 07:22:57 GMT The steeply discounted IPO price, at less than 60 percent of the company’s last private valuation, had raised questions about the prospects of other so-called ‘unicorns’ – startups worth at least $1 billion – that might want or need to go public. A number of tech IPOs have performed poorly over the past year, and mutual fund investors including Fidelity Investments have been marking down the value of their private tech holdings. | Read Complete Article |
Exclusive: Pfizer negotiating 2-3 percent Allergan break-up fee – sources Thu, 26 Nov 15 07:23:35 GMT The break-up fee, to be paid by Pfizer if it were to walk away from Allergan, would come out to $3 billion to $4.5 billion based on a $150 billion deal value. One of the people familiar said a 2-3 percent fee would be at the lower end of similar transactions. | Read Complete Article |
Wage pressures coming? U.S. companies start to sound the alarm Thu, 26 Nov 15 07:24:08 GMT Early indications of wage pressures in pockets of corporate America have begun emerging in recent weeks, suggesting labor costs could be a bigger headwind for U.S. companies in 2016. Over the course of the latest corporate earnings reporting season, executives from nearly 20 S&P 500 companies have flagged labor costs, shortages or wage pressure as headwinds. Now, though, a combination of rising U.S. payrolls, political pressures to increase state and federal minimum wages and some industry-specific issues, such as expensive labor contracts in the airlines and automakers and labor shortages in construction, could finally be gelling to force up labor costs. | Read Complete Article |
