Carl Icahn’s Icahn Enterprises is finally taking some profits on its Herbalife winnings. On Friday the investor said he is lowering his stake in a securities filing. “Yesterday IEP tendered its Herbalife shares into the Company’s self-tender offer. Of the shares we tendered, at most only 11.4 million could possibly be purchased in the tender, […]
Read moreSouth Africa’s President Cyril Ramaphosa has announced that some of the country’s largest public companies will return billions to the economy, potentially reviving industries that are renowned for their financial troubles. In a major speech this week, the country’s president claimed that they are expected to invest a total of 420 billion South African rand […]
Read moreYou might have noticed that your inbox is suddenly being bombarded by messages from apps and services you haven’t used in years. You’re not alone, that’s my Gmail inbox above. There’s a reason you’re receiving them now: Europe‘s General Data Protection Regulation went into effect Friday, which means companies and services are now alerting you […]
Read moreChances are you’ve heard of a video game called “Fortnite.” It’s a massively popular game that is generating hundreds of millions of dollars each month in revenue. But unlike other popular online games like Activision Blizzard’s “Call of Duty” franchise, “Fortnite” is free to play. How is it that a free game is on pace […]
Read moreThe cancellation of a summit between the United States and North Korea casts doubt on prospects for trade negotiations between the U.S. and China – and could result in the Trump administration taking a harder line on China, a White House official told CNBC. The official said that President Donald Trump was holding off on […]
Read moreCheck out the companies making headlines before the bell: Foot Locker – The athletic apparel and footwear retailer reported adjusted quarterly profit of $1.45 per share, 20 cents a share above estimates. Revenue also beat forecasts, but comparable-store sales fell by 2.8 percent — that was smaller than the Thomson Reuters consensus estimate of a […]
Read moreApple has blocked the plans of the biggest distributor of PC-based video games to extend its reach into iPhones, according to the game distributor, a sign that Apple is serious about protecting its ability to take a cut of digital purchases made inside games on its mobile devices. Steam, the dominant online store for downloaded […]
Read moreShares of shoe retailer Foot Locker surged Friday after the company reported earnings well ahead of Wall Street expectations. The stock rallied more than 15 percent in premarket trading after the New York-based company reported adjusted earnings per share at $1.45 for the first quarter, above consensus estimates of $1.25 from FactSet. The shoe store […]
Read morePayPal shares will rise as it adds new financial services for its customers, according to one Wall Street firm. Stifel raised its rating to buy from hold for PayPal shares, citing the company’s large new growth opportunities. “PayPal is a leading global online payments platform that is evolving into a robust financial services ecosystem with […]
Read moreShares in Samsonite plunged for a second straight day on Friday, bringing its losses to a fifth of market value, after a short seller accused it of questionable accounting practices and poor corporate governance. Blue Orca Capital on Thursday questioned accounting at the world’s biggest luggage maker, including those used in its 2016 acquisition of […]
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