Stock Market News

GE Transportation To Merge With Wabtec In $11.1bn Deal

  Yesterday, General Electric Company (NYSE: GE) announced a deal to merge its transportation business, which manufactures train engines, with Wabtec Corp, an equipment manufacturer for the rail industry, in a deal worth $11.1 billion. In addition to the $2.9

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Transition To Subscription Based Model Keeps Cisco Weak

  Networking hardware manufacturer Cisco Systems, Inc. (Nasdaq: CSCO) reported a better-than-expected fiscal 2018 third-quarter results after market closed on Wednesday. However, the Services segment revenue grew lower-than-anticipated by analysts in the recent quarter. At the time of writing this

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Walmart Down On Acquiring India’s Flipkart For $16 Billion

  Retail giant Walmart Inc. (NYSE: WMT) acquired a 77% stake in India’s ecommerce firm Flipkart for a sum of $16 billion. Reports have emerged that Walmart is planning to invest an additional $3 billion, raising its stake to 85%.

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Boeing to Lose $20 Billion as Trump Exits Iran Deal

  US President Donald Trump unilaterally withdrew from the Obama-era nuclear deal with Iran. The decision was made against the advice given by the European allies. In 2015, Iran accepted the Joint Comprehensive Plan of Action (JCPOA), which curbed its

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Alibaba Crushes 4Q18 Estimates, Analysts Raise Price Target

  Alibaba Group Holding Limited (Nasdaq: BABA), dubbed as the Amazon of China, reported fiscal 2018 fourth-quarter earnings that was better than the most optimistic expectations of analysts. The market responded positively to the results by pushing the share price

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Pfizer Turns Weak As Ibrance, Xeljanz Sales Miss Estimate

  Pharmaceutical giant Pfizer Inc. (NYSE: PFE) reported lower-than-anticipated fiscal 2018 first-quarter revenue as demand for some of its main drugs and global sales fell short of analysts’ estimates. This triggered a sell off in the stock of the largest

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Exxon Signals Bullish Reversal On 16% y-o-y Rise In EPS

  Exxon Mobil (NYSE: XOM) reported a 16% increase in fiscal 2018 first-quarter earnings and revenue compared with the similar period of fiscal 2017. However, the company missed earnings estimate of analysts. Still, considering the impressive results discussed below, we

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Caterpillar Beats 1Q18 Estimates, Raises FY18 EPS Outlook

  The stock of construction equipment manufacturer Caterpillar Inc. (NYSE: CAT) has declined by about 6% this week, despite reporting impressive first-quarter 2018 results. During the conference call, the company’s Chief Financial Officer Brad Halverson said the first-quarter adjusted profits

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GE Beats 1Q18 EPS estimates, Reaffirms FY18 EPS View

  The worst may be over for industrial conglomerate General Electric Company (NYSE: GE). The company reported fiscal 2018 first-quarter net loss that is wider than the similar period last year. However, adjusted earnings and revenues were better than analysts’

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Goldman Sachs Beats 1Q18 EPS Estimates, Raises Dividend

  Investment banking firm Goldman Sachs Group Inc. (GS) reported a 27% rise in its fiscal 2018 first-quarter earnings, compared with the similar period last year. The bank crushed the earnings and revenue estimate of analysts. The company also raised

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