Stock Market News

Novartis Receives EC Approval for Beovu to Treat Wet AMD

  Novartis AG (NYSE: NVS) has revealed that the European Commission (EC) has approved its injection, Beovu (brolucizumab), for wet age-related macular degeneration (AMD) therapy, which is the main reason for blindness across the globe. The decision made by the

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Tesla Prices secondary offering at $767 a share

  Last Thursday, Tesla, Inc. (Nasdaq: TSLA) announced its intention to raise $2 billion through a common stock offering. The announcement came only two weeks after the company’s CEO Elon Musk stated that the electric car manufacturer would not capitalize

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Simon Property To Acquire Taubman Center For $3.60bln.

  Simon Property Group (NYSE: SPG) is acquiring the shopping complex owner Taubman Center (NYSE: TCO) in a deal worth $3.60 billion. The deal has come at a time when shopping mall operators are finding it hard to attract shoppers,

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Toyota Down on Postponement of Re-Opening China Factories

  Toyota Motor Corporation (NYSE: TM), postponed the restart of production in China plants for the second time, due coronavirus outbreak. The auto manufacturer has announced that its factories in China will open only on February 17th. Notably, while reporting

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Alphabet Posts Mixed Q4 Results as YouTube Disappoints

  Google’s parent company, Alphabet Class A (GOOGL: NASDAQ) shares declined 1,447.07 $38.87 or 2.62% to close at $1,447.07 after the company reported fiscal 2019 fourth-quarter revenues below estimates. The company’s market cap recently surpassed $1 trillion in market capitalization.

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Caterpillar Posts Mixed Q4 Results, Issues Weak FY 2020 View

  Caterpillar Inc. (NYSE: CAT) reported fiscal 2019 fourth-quarter revenues that missed analysts’ estimates. However, the Q4 earnings increased from the similar period last year. The manufacturer of mining machinery also announced a weaker-than-anticipated outlook for FY 2020. Following the

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BoFA Downgrades Wynn Resorts on Coronavirus Concern

  The shares of the resort and casino operator Wynn Resorts (Nasdaq: WYNN) was battered for the past few days after Shaun Kelley, an analyst at Bank of America Global Research, downgraded the company to “neutral” from “buy” rating. In

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American Express Beats Q4 EPS Estimates, Revenue In-Line

  American Express Co (NYSE: AXP) reported its fiscal 2019 fourth-quarter profit that declined from last year. However, the financial institution’s quarterly results surpassed analyst anticipations, primarily due to an increase in card fees. Following the impressive results, the stock

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BoA Estimates Boeing 737 MAX Crisis Could Hit $20bln.

  The shares Boeing (NYSE: BA) came under selling pressure after Ron Epstein, aerospace analyst at Bank of America Merrill Lynch, estimated that the cost of grounding the 737 MAX, its best-selling aircraft, could reach $20 billion. The stock closed

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Oil Field Service Provider Schlumberger Beats Q4 Estimates

  International oil field services company Schlumberger Ltd. (NYSE: SLB) published fiscal 2019 fourth-quarter profit that declined from the corresponding quarter last year. In other related news, the company’s CFO Simon Ayat has announced his plan to step down this

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