Stocks rose on Tuesday amid news that U.S. lawmakers had secured a tentative deal on border security funding.Improved prospects for a U.S.-China trade deal also boosted equities. Read More...
The outlook for the semiconductor sector may be turning positive.Analysts are expecting chip demand to hit bottom before picking up later this year. Read More...
OPEC fell just short of its production goal in January, as a fresh round of output cuts from the 14-nation producer group got under way. Read More...
Morgan Creek Digital has scored what it says is probably the first investment in the crypto asset universe from a U.S. pension fund. Read more...
Home-prices in the U.S. slowed in Q4, mainly due to a glut in supply. The median price for an existing single-family home was $257,600, up 4 percent from a year earlier, the National Association of Realtors said in a report Tuesday.About 1.55 million homes were available for sale at the end of December, up 6.2 percent from 2017. “Home prices continued to rise in the vast majority of markets,” Lawrence Yun, chief economist for the Realtors group, said in the report.
Aurora Cannabis said its net revenue grew to C$54.2 million in its fiscal second quarter as the producer's sales accounted for 20 per cent of all marijuana sold across Canada since the drug was legalized in October. "The Canadian consumer market provides an extremely good opportunity for us.Consumer response to the legalization of cannabis has been strong," Cameron Battley, chief corporate officer, said in a conference call after markets closed. Net revenue for the three months ended Dec. 31 increased from C$11.7 million in the second quarter of 2017. The increase was driven by $21.6 million in consumer sales in Canada and C$26 million in Canadian and international medical marijuana sales.
India’s antitrust commission is looking into accusations that Alphabet Inc’s unit Google abuses its popular Android mobile operating system to block its rivals, four sources with direct knowledge of the matter told Reuters.READ MORE...
Online platforms including Google, Facebook and Apple should be regulated in how they distribute news content, according to a new U.K. government report.READ MORE...
Investors thinking about betting in emerging markets should look at Brazilian stocks, Mexican bonds and banks in the space, according to strategists and analysts.READ MORE...
President Donald Trump has reservations about a tentative government funding deal that needs his support to pass, leaving its fate unclear with days to spare before another shutdown. The president did not immediately commit Tuesday to signing the agreement to prevent a partial closure this weekend.READ MORE...
Watts Water Technologies, Inc. reported its fourth quarter 2018 results, beating adjusted earnings and net sales expectations. The water management product maker’s adjusted net income of 88 cents per share for the quarter was higher than Zacks Consensus Estimate of 87 cents a share.Total adjusted net income came in at $30.1 million, and exceeded year-ago quarter’s $25.4 million. The company’s quarterly net sales increased +5.8% year over year to touch $387.6 million, which also edged past analysts’ estimate of $383 million. Watts Water’s organic sales in the quarter surged +7% from the year-ago quarter, largely driven by growth in the Americas and Europe.
BP has invested more money in Egypt in the last two years than anywhere else, the oil giant's Chief Executive Bob Dudley told CNBC. Read More...
On Monday, Meredith Corp. reported fiscal second-quarter earnings of $2.55 a share, beating analysts’ estimate of $1.29 a share.However, the revenue figure fell short of analysts’ expected $859.3 million. For full year fiscal 2019, the company is expecting to generate revenue  in the range of $3 billion to $3.2 billion.
Avaya Holdings Corp. reported its first quarter revenue of $738 million, missing previous guidance of $750 million to $775 million. Nevertheless, the cloud solutions company’s total contract value surged +8% year- over -year to $2.4 billion.CEO Jim Chirico indicated that while sales were affected by “a few discrete items versus our outlook”, he also emphasized that the company’s clients/customers continue to back its innovations. Avaya projects its second quarter revenue to range from $730 million to $760 million.
Facebook partners with several third-party fact checkers in India to curb circulation of false news in social media.It will be extended to include news in regional languages as well like English, Hindi, Bengali, Telugu, Malayalam and Marathi. Fact checks have a goal of moving false news to the bottom of users' News Feeds, which would significantly reduce their distribution.
Molson Coors Brewing Co. reported non-GAAP earnings of 84 cents per share for the fourth quarter 2018, beating Wall Street analysts’ expectations of 80 cents. The brewing company’s group sales of $2.419 billion, however, fell short  of analysts’ estimate of $2.54 billion.Softening demand in the U.S. was apparently a drag on beer sales. For 2019, the company expects to have free-cash flow of around $1.4 billion (plus or minus 10%).
Amidst concerns over a possible Russian insurgency following Moscow’s annexation of Crimea in 2014, Poland is seeking ties with the U.S. to significantly increase the Polish army’s defense capabilities.In a soon-to-be signed deal, Poland will buy mobile rocket launchers worth $414 million from the U.S. weapon giant Lockheed Martin. According to the terms of the contract, it includes M-142 HIMARS system capable of launching six guided rockets with a range of 70 km (37 miles), or a single missile with up to 300 km range along with 18 combat launchers, two training launchers, shorter-range Guided Multiple Launch Rocket System (GMLRS) missiles and longer-range Army Tactical Missile System (ATACMS) tactical missiles.
Despite a few headwinds, Mohawk Industries, Inc.’s fourth quarter earnings and net sales managed to edge past analysts’ estimates. For the three months ending December, the flooring manufacturers’ adjusted earnings per share of $2.53 (excluding restructuring, acquisition and other charges) beat Zacks Consensus Estimate of $2.49 per share.Net sales increased +5% from 2017. For the first quarter 2019, Mohawk projects earnings-per-share of $2.02-$2.12, excluding one-time charges.
Sentiment among U.S. small businesses slumped in January to the lowest level since Donald Trump became president, as the economic outlook weakened amid the longest-ever U.S. government shutdown. Read More...
Two landmark cases involving the Shenzhen-based hardware giant Huawei take big steps forward in the coming weeks, as the Trump administration weighs an executive order that may further curtail the ability of American companies to use telecom equipment manufactured in China. Read More...
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