According to three people with knowledge of the matter, Uber Technologies Inc has filed the requisite paperwork for an initial public offering with the U.S. Securities and Exchange Commission in the last week.  According to sources, the rivalry between the globally renowned ride-hailing company, Uber, and its smaller US rival, Lyft Inc, was visible in their IPO filings as Uber confidentially filed for the IPO on the December 6, 2018, while Lyft announced on Thursday that it had filed for an IPO. The concurrent filings extend the prolonged battle between these two companies, which have both rolled out competitive services and played the price game identical to each other. However, when it comes to valuations, Uber has overtaken its rival by some considerable distance.According to analysts, its filing has set the stage for one of the biggest technology listings ever.

A comment from Kroger Co. Chief Executive Rodney McMullen has given GlobalData Retail’s Managing Director Neil Saunders a sinking sense of déjà vu, going back to Eddie Lampert and Sears Holding Corp. READ MORE...

For example, debt to EBITDA has historically been toward the low end of its peer group.Enterprise's leverage isn't a big risk. READ MORE...

Following two days of grueling negotiations, OPEC members and its close allies have finally reached a deal to cut oil production, going against President Donald Trump and helping to boost market sentiment. Following the news of the deal, crude oil futures surged more than 5%, putting an end to oil's continuous losing streak.WTI gained +4.9% to $54.03/bbl, while Brent crude gained +5.2% to $63.19/bbl. The alliance has confirmed to remove 1.2 million barrels per day from the market, in-line with expectations of 1 million to 1.4 million bpd.

Shares of the specialty trucks and military vehicles manufacturer, Oshkosh Corporation, rose more than 27% in the month of November according to data provided by S&P Global Market Intelligence.Meanwhile, the broader market plummeted. Why the stark performance diversion? Despite being one of the most underappreciated companies in the industrial sector, Oshkosh started November with an earnings release that widely exceeded analyst expectations. The company reported 13% sales growth, 67% earnings growth, and reported new full-fiscal-year guidance which even at its low-end was above consensus.

GE is facing yet another power problem as utility companies across different regions like Japan, Taiwan, France and at multiple U.S. sites have shut down or are planning to shut down GE’s gas turbines. According to more than a dozen interviews with plant operators and industry experts, at least 18 of the 55 new HA-model turbines that GE has shipped so far have been shut down by the power plant operators citing repairs as the reason. Following the recent GE turbine blade failure in Texas, these shutdowns are hurting the company as it comes at a time when GE is grappling with financial losses and a drop in orders for the massive generators supplying electricity to hundreds of thousands of homes. Although the 126-year-old conglomerate has declined to say how many turbines have been shut down to date, it has set aside $480 million to repair its 9HA, 7HA and 9FB model turbines as it restructures its power business. In an interview, GE gas power systems CEO Chuck Nugent playe

Walmart plans to continue to run Art.com as a standalone website. Art.com offers made-to-order products, and includes around two million items such as curated images incorporated as wall art/posters, prints, and other art pieces for customers’ home.The site has been generating more than $300 million in annual sales in recent years, according to CNBC citing  an anonymous person familiar with Walmart's acquisition.

Altria will buy a 45% stake in the company at  $1.8 billion, and would have the option to raise its stake to 55%.Even before Friday’s announcement from Altria, there were reports of Altria possibly eyeing Cronos. "Investing in Cronos Group as our exclusive partner in the emerging global cannabis category represents an exciting new growth opportunity for Altria," said Howard Willard, Altria's CEO, in a statement. Cigarette smoking is reportedly thinning out probably due to increased health-consciousness among consumers – something that might be an additional reason behind Altria's decision to diversify into the recreational marijuana space. Altria also announced plans to stop producing its MarkTen and Green Smoke e-cigarettes and its Verve oral nicotine, citing regulatory concerns and financial performance of the brands.

Its revenue for the quarter increased +12.4% from the year-ago period to touch $5.45 billion, and surpassed analysts’ expected $5.40 billion. Sales from the company's  wireless communications business accounted for 31% of total revenue, edging past Broadcom's earlier expectations; but sales from this segment were still 5 percent lower than a year earlier."We benefited from upside volumes of legacy phone generations at our North American OEM customer," President and CEO Hock Tan announced. For the full year, Broadcom projects revenue of $24.50 billion, higher than analysts' estimate of $22.40 billion, according to IBES data from Refinitiv.

International Business Machines Corp. (IBM) will be selling some of its software business to Indian software services exporter HCL Technologies for $1.8 billion. Some of the products to be divested include IBM’s secure device management product BigFix, marketing automation product Unica and workstream collaboration product Connections.Slowing revenues of IBM’s software products and/or its increasing focus on cloud computing could potentially have led to the decision.   IBM is in the process of acquiring U.S. open-source software company Red Hat Inc. for $34 billion - a deal that was announced earlier this year. 

A new study by the Centers for Medicare and Medicaid Services says Americans paid $3.5 trillion on healthcare in 2017, which amounts to $10,739 per person." Private health insurance had the highest spending with an increase of 4.2 percent to $1.2 trillion, in 2017.

On Thursday, IBM announced an agreement reached with India’s HCL Technologies Ltd. to sell them select IBM software assets for $1.8 billion, in line with Big Blue’s strategy to focus more on cloud computing. Representing a total addressable market of more than $50 billion, the software assets in scope include products like Appscan for secure application development, BigFix for secure device management, Unica (on-premise) for marketing automation, Commerce (on-premise) for omni-channel eCommerce, Portal (on-premise) for digital experience, Notes & Domino for email and low-code rapid application development, and Connections for work stream collaboration. Although the deal is expected to close by mid-2019, an existing licensing partnership between the two companies will continue for five of the products. IBM has been striving to emerge as a leader in the hybrid cloud market for some time now, but its declining software sales weighed heavy on its latest quarterly revenue – which m

Further, he added that a cut of 1 million barrels should be sufficient enough to stop the fall. With analyst’s expectations of 1.3 million fewer barrels per day from production, the news of only a 1 million product cut hit the market hard.Oil prices dropped 4.7%, renewing fears that the cartel is struggling to respond to a supply glut.

Online retailer Wayfair (NYSE: W) has been on a bit of a roller coaster ride in the last six months.For comparison purposes, the S&P gained just over 10% during the same timeframe. From the end of September through November 19, the stock dropped 44% and has since bounced back.

Micron Technology (Nasdaq: MU) has been caught in a terrible downtrend over the past six months.The overbought/oversold indicators were nearing overbought levels before turning lower on Tuesday. Micron’s fundamentals are pretty good and that makes the downtrend somewhat perplexing.

From the middle of 2016 through the beginning of 2018, HSBC Holdings (NYSE: HSBC) saw its stock price double, moving from $26 a share to over $52.We see that the daily stochastic readings are in overbought territory and just made a bearish crossover on Friday which could signal that the trend channel will continue to define the cycles within the downtrend. One thing that seems to be hounding HSBC is the status of Britain’s exit from the European Union—Brexit.

SecureWorks Corp. raked in $133.1 million in revenues in its fiscal third quarter, beating analysts’ estimate of around $130.6 million. For the current quarter ending January, the information security services company expects to generate revenue in the range of $132 million to $133 million.As for full-year results, it expects revenue  to come in around $520 million to $521 million. However, SecureWorks reported a loss of -$3.7 million in its fiscal third quarter - that’s a loss of -5 cents on a per share basis.  For the full year, SecureWorks projects a loss range of  -1 cent per share to  -45 cents per share.

Dollar General is ramping up its healthy offerings.Having recently added 125 products including yogurt, nuts, protein bars, veggie snacks, and coconut water, the retailer seems to be catering to an increasingly health conscious consumer population. The retailer's new "better for you" additions come under its Good & Smart house brand, while the stores also offer other ‘health-conscious’ brands like Annie's, Back to Nature, Honest, Nature Valley, and Kashi.

According to a report published by Reuters, private equity firm Blackstone Group LP is priming for an initial public offering (IPO) of Alight Solutions LLC, a U.S. provider of healthcare and retirement benefits services.Alight Solutions is expected to be valued at more than $7 billion, including debt. The IPO is expected to hit markets in the first half of 2019, almost two years after Blackstone’s acquisition of Alight for ~$4.8 billion from the insurance broker Aon Plc (AON).

CNBC reports that federal prosecutors in Manhattan requested the pause because they feared a separate criminal probe they were conducing could be harmed by a request by plaintiffs in the civil case to ask new questions of two ex-JP Morgan metals traders and the bank's global head of base and precious metals trading. Details are still unknown of the criminal investigation.However, the criminal case became public last month when John Edmonds, a former JP Morgan metals trader, made a plea deal with prosecutors which has since been unsealed.