Markets News

Freeport to Divest 51% in Grasberg Mine of Indonesia

  The world’s largest publicly traded copper miner Freeport-Mcmoran Inc (NYSE: FCX) reported a swing to profit in the fiscal 2017 second-quarter. That took the share price to $15.71 in August. However, the stock has lost about $2 so far

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Google to Acquire HTC’s Smartphone Business

  In the first-week of September, unconfirmed reports stated that internet search engine giant Google, a subsidiary of Alphabet (NASDAQ: GOOG), is in the final stages of negotiations to buy out Taiwanese smart phone manufacturer HTC. That took the stock

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Apple Commits $3bn for Stake in Toshiba Chip Business

  According to the latest report, the iconic iPhone manufacturer Apple Inc (NASDAQ: AAPL) is planning to invest $3 billion in Bain Capital, which is leading the bid to acquire Toshiba’s memory chip business. The Japanese NAND memory chip manufacturer

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Amazon Up on Anticipated Dominance in Grocery Market

  Worse-than-anticipated fiscal 2017 second-quarter earnings sparked a sell-off in the stock of e-commerce giant Amazon.Com Inc (NASDAQ: AMZN) in August. Notably, the company had reported a 25% y-o-y increase in net sales to $37.96 billion. One of the reasons

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Nike Signals Uptrend on Attractive Valuations

  The stock of apparel and footwear manufacturer Nike Inc (NYSE: NKE) has depreciated by nearly 12% in the past month, making it the worst performing Dow component during that period. The overall weakness in the retail apparel and footwear

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Micron Up on Strong FY17, FY18 Outlook for Memory Chips

  The stock of memory chip manufacturer Micron Technology (NASDAQ: MU) is trading near the 12-month high of $32.96. An increase in the price of DRAM and NAND memory chips, due to robust demand, boosted the profits of the chip

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Petrobras Up on Lower Debt, Decline in US Oil Inventory

  The world’s most leveraged (indebted) oil company Petroleo Brasileiro S.A. (NYSE: PBR) reported a lower than anticipated fiscal 2017 second quarter revenue and earnings. Petrobras, as the company is popularly known as, also recorded a slight decline in output.

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Daimler Posts Record Benz Sales, Issues Positive FY17 View

  Despite posting a 15% y-o-y increase in operating profit, the stock of luxury car manufacturer Daimler Ag (OTCMKTS:DDAIY) has appreciated by only about 4% in the past one month to close at $73… yesterday. The stock missed the FY17

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Salesforce on Track to Achieve $10bn Revenue in FY18

  Last week, the stock of software and cloud computing company Salesforce Inc (NYSE: CRM) recorded a new 12-month high of $95.23. Apart from beating analysts’ estimates, the company also reported a 26% increase in the fiscal 2018 second-quarter revenue,

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Siemens Reports Mixed 3Q17 Results, Reaffirms FY17 View

  A 9% decline in the new orders triggered a downtrend in the stock of diversified industrial conglomerate Siemens A G (OTCMKTS:SIEGY) in the second week of August. Lower-than-anticipated consolidated revenues also fuelled the bearish sentiment. However, on the basis

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