Allergan could face activist pressure from David Tepper’s Appaloosa Management after the Federal Trade Commission cleared the way for him to build on his stake in the drug-maker. Shares rose 3.7 percent on Thursday but were trading down in premarket trading on Friday after the disclosure on the FTC’s website on Wednesday. The approval allows […]
Read moreRussian President Vladimir Putin said on Friday he had discussed the U.S. withdrawal from the Iran nuclear deal at talks with German Chancellor Angela Merkel in Sochi. The deal between Iran and six world powers lifted most international sanctions in return for Tehran curbing its nuclear programme, under strict surveillance by the U.N. nuclear watchdog. […]
Read moreRussian President Vladimir Putin endorsed a new government line-up on Friday at the start of his new term in office, sticking in most cases with the incumbents but elevating two newcomers with ties to the intelligence services. Dmitry Medvedev, whom Putin had already reappointed as prime minister, proposed the new cabinet at a meeting with […]
Read moreGrammy-award winning rapper and founding member of the Fugees Pras Michel is launching a blockchain-enabled smartphone that lets users earn dividends on every purchase. The phone is part of Michel’s digital platform Blacture, which was announced in a 2018 Super Bowl ad, and celebrates black culture through content and technology. The first retail move for […]
Read morePayments firm Square slipped roughly 2.5 percent Friday, the day after news of a PayPal-iZettle tie-up. Shares opened at $53.54 after closing Thursday near $55. The $2.2 billion merger will launch U.S. fintech giant PayPal into hundreds of thousands of brick-and-mortar retailers around the world through iZettle’s mobile card readers. That stands as a direct […]
Read moreSpotify represents a compelling buying opportunity thanks to one of the best growth outlooks in technology, with subscribers set to double by 2020, according to Raymond James. The company’s key drivers, including market share gains, new geographies and family plans should boost the number of paid subscribers to 150 million from current levels around 75 […]
Read moreFinancial technology titan PayPal made its biggest ever acquisition on Thursday. The firm bought Stockholm, Sweden-based payments start-up iZettle for $2.2 billion. That’s double the valuation it was reported to be looking to fetch with a listing on the Nasdaq in Stockholm later this year. IZettle is a rival to Square, the U.S. fintech firm […]
Read moreAmazon will thrive in India even after Walmart’s acquisition of the e-commerce market leader in the South Asian country, according to one Wall Street firm. Citi Research reiterated its buy rating for Amazon shares, predicting strong growth for its international businesses. Last week Walmart announced that it would acquire an initial stake of about 77 […]
Read moreCheck out the companies making headlines before the bell: Deere – The construction equipment maker missed estimates by 17 cents with adjusted quarterly profit of $3.14 per share, with revenue also falling short of forecasts. Deere did maintain its prior full year profit forecast. Campbell Soup – CEO Denise Morrison has announced her retirement, effective […]
Read moreThe XLE energy ETF just posted its 10th straight day of gains, its longest daily winning streak since 2006. Some see even more room to run. “We’re high conviction overweight,” Mark Tepper, president and founder of Strategic Wealth Partners, told CNBC’s “Trading Nation” on Thursday. “You look at these escalating geopolitical risks with Iran and […]
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