Stock Market News

Teva Hit With Price-Fixing Lawsuit By 44 US States

  Teva Pharmaceutical Industries’ (TEVA) shares plunged this week after 44 US states filed a case against the company and an additional 19 generic pharmaceutical businesses over accusations of a substantial drug price-fixing scandal worth billions of dollars. The damage

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Uber Closes Below IPO Price On First Day Of Listing

  Uber’s much-awaited stock market ride didn’t begin smoothly. The shares of Uber Technologies Inc. (NYSE: UBER) ended its first day of trading on Friday down almost 8% below its initial public offering (IPO) price, as the ride-hailing company’s market

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Telenor and Axiata To Form Pan Asian Telecom Giant

  Norway’s Telenor ASA (OTC: TELNY) and Malaysia’s Axiata Group are in discussion for a possible merger that may result in the formation of a telecom behemoth in South and Southeast Asia with about 300 million clients, as both parties

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Air France-KLM Q1 Loss Widens On Rising Fuel Costs

  Air France-KLM SA (OTC: AFLYY) reported on Friday that the fiscal 2019 first-quarter net loss had widened from the same period last year, mirroring pressure on unit revenue and rise in fuel costs that more than offset a fall

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Philips Reports 5% y-o-y Increase In 1Q19 Sales

  Shares of Philips Electronics NV (NYSE: PHG) yesterday rallied 4.47% to close at $43 after the Dutch consumer electronics company posted a year-on-year increase in profit in the first quarter of fiscal 2019, with an increase in sales and

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BP Approves $6bln To Build Azeri Oil Exploration Platform

  On Friday last week, BP p.l.c. (NYSE: BP) and its associates approved the $6 billion Azeri Central East (ACE) venture, which involves expansion of the massive Azeri-Chirag-Deepwater Gunashli (ACG) oilfield site in the Azerbaijan area of the Caspian Sea.

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JnJ Beats 1Q19 Analysts Estimates, Despite Huge Fines

  Johnson & Johnson (NYSE: JNJ) reported better-than-expected 1Q19 earnings, but rising legal costs related to its talc baby powder eroded a considerable portion of its profits. The company has so far paid $400 million to settle about 25,000 cases

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JP Morgan Stuns Market With Solid 1Q19 Earnings Beat

  The US earnings season has begun and the much awaited 1Q19 earnings report of the biggest US bank by assets, JPMorgan Chase & Co. (NYSE: JPM), has been released.  The major lender reported a record 1Q19 profit and revenue

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Zogenix Down 23% after FDA Rejects Seizure Drug Filing

  The US Food and Drug Administration declined to thoroughly examine the marketing proposal for the Dravet syndrome seizures drug developed by Zogenix, Inc. (Nasdaq: ZGNX). During an initial evaluation, the FDA found that the request was not adequate for

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Verizon Launches 5G Service, But Stock May Not Rally

  Verizon Communications Inc. (NYSE: VZ) has introduced its 5G Ultra Wideband Network Service a week earlier than planned in specific areas of Minneapolis and Chicago. Additionally, the company also launched the first 5G smartphone on the US market. However,

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