Industry News

Walmart Posts Mixed Q1 Results, Despite Best Comp In 9yrs

  The retail chain, Walmart Inc. (NYSE: WMT) yesterday reported an 80% y-o-y increase in the fiscal 2019 first-quarter profit, mirroring steep rise in revenues and impressive performance of the company’s subsidiary JD.com. Excluding charges, adjusted earnings per share for

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Deutsche Telekom Reports Weak 1Q19 Results

  The German telecom giant Deutsche Telekom AG (DTEGY.PK) reported a decline in fiscal 2019 first-quarter net profit, despite posting a year-on-year increase in pre-tax profit on revenue strength. The financial institution declared a better performance in all regions, particularly

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3M Acquires Medical Tech Firm Acelity For $6.7bln

  3M (NYSE: MMM) today announced that it had inked a definitive agreement (private deal) to buyout the wound therapy company Acelity Inc. and its KCI subsidiaries worldwide in a deal estimated to be $6.7 billion, including debt. Based on

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Microsoft’s Market Cap Briefly Crosses $1 trillion

  Microsoft Corporation (Nasdaq: MSFT) and Facebook, Inc. (FB) started the tech earnings season, with both multinationals exceeding analysts anticipations. Specifically, Microsoft shares leaped more than 5% percent on Thursday, nudging the software behemoth beyond $1 trillion market capitalization on

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Credit Suisse Starts Covering Apple With ‘Neutral’ Rating

  In a research note, the Credit Suisse analyst said that Apple’s (Nasdaq: AAPL) stock would not be appealing after its latest upswing because it takes more time than expected for the transition from hardware to services. Also, the bank

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UBS Analyst Reiterates Sell Rating On Caterpillar

  UBS analyst Steven Fisher issued a bearish report on the stock of Caterpillar (NYSE: CAT) yesterday and reaffirmed his ‘sell’ rating. However, the market discarded the gloomy news from UBS that discusses the negative effect of declining demand for

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Micron Gets Outperform Rating From RBC Capital Markets

  An equity research report published by RBC Capital Markets has recommended investing in Micron Technology (Nasdaq: MU) shares on the basis of possible bottoming out of memory chip prices in the upcoming months. Notably, the stock has gained nearly

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Biogen Plunges 30% On Suspension Of Alzheimer Drug Trial

  Shares of Biogen Inc. (Nasdaq: BIIB) plunged 29.23% to close at $226.88 in yesterday’ trading after the biopharmaceutical firm and the Japanese pharmaceutical company, Eisai Co. Ltd. (ESALY.PK), jointly announced that they would suspend two late-stage trials for their

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Turkcell Launches Blockchain System For ID Management

  The cryptocurrency market continues to remain in a correction mode, which started earlier this week. While Bitcoin (BTC) hovers at around $3,800, down 3.9% on the w-o-w basis, other altcoins have lost much of the gains made in the

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BHP Profits Decline 8% On Mining Production Outages

  BHP (NYSE: BHP, ASX: BHP.AX, LSE: BLT.L), the trading entity of BHP Group Limited and BHP Group plc., yesterday reported a higher attributable profit in H1 2019. However, underlying profit from continuing operations declined 8% from the prior year

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