Oclaro, Inc. OCLR was a big mover last session, as the company saw its shares rise more than 5% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the […]
The investment vehicle has come out in support of the activist investor, as both sides dig in for a boardroom battle set for Oct. 10 Yacktman Asset Management, a 25-year-old investment firm with $15 billion in assets, on Thursday, urged Procter & Gamble (PG – Get Report) to include activist investor Nelson Peltz on the packaged goods […]
Alibaba Holdings Group (BABA) Founder and Executive Chairman Jack Ma is planning to sell 9% of his position in the company over the next 12 months, as reported in a U.S. Securities and Exchange Commission filing on Wednesday. The performance of Alibaba this year has been nothing short of stunning. The stock is up 100% […]
Biotech stocks are on a tear, on pace for their best weekly performance of 2017. Sources told CNBC this week the administration may be holding off until the Senate calls a vote on health reform. But executive order drafts could actually have the opposite effect, prompting an impulsive president to react with policies more in […]
MUMBAI (Reuters) – Consumer electronics maker Dixon Technologies (India) Ltd will sell shares in a price range of 1,760 rupees to 1,766 rupees in its initial public offering set to open on Sept.6, a public notice said on Tuesday. The IPO will raise about 6 billion rupees ($93.9 million) at the upper end of the […]
FILE PHOTO: A salesman arranges gold ornaments, on a display board, inside a jewellery showroom during Akshaya Tritiya, a major gold buying festival, in Kochi, India April 28, 2017. REUTERS/Sivaram V/File Photo By Zandi Shabalala JOHANNESBURG (Reuters) – Gold rose to its highest in more than a week on Monday as the dollar weakened and […]
Stocks most owned by hedge funds and mutual funds managing nearly $4 trillion are handily beating the market this year, according to Goldman Sachs. “Both mutual funds and hedge funds have enjoyed strong YTD returns … Key sector overweights lead to outperformance,” strategist David Kostin wrote in a note to clients Friday. “High allocations to […]
With Amazon.com, Inc. (AMZN) completing its $13.7 billion purchase of Whole Foods Markets (WFM) , the e-commerce juggernaut is officially entering the bricks-and-mortar grocery space. With other moves, though — like its teaming up with Sears Holdings (SHLD) to sell Kenmore products exclusively on Amazon — it’s clearly showing that Amazon is looking to dominate just about every aspect […]
…and why it might be a buying opportunity. Sysco (SYY)–the food company, not the tech giant–is slipping today after reporting earnings that only met the Street consensus. Sysco reported a profit of 72 cents a share, in line with analyst forecasts, on sales of $14.4 billion, narrowly beating estimates for $14.34 billion. Still, that wasn’t enough for […]
The biotech sector could be on the verge of its next major leg higher. The key catalyst could be Vertex Pharmaceuticals Inc. (VRTX) and positive news on its latest Cystic Fibrosis data. As of July 19, the iShares Nasdaq Biotechnology ETF (IBB), a proxy for the biotech stocks, is sitting right at resistance around $320. […]
(Reuters) – Wells Fargo is poised to eliminate a number of its smaller businesses, the company’s chief financial officer said in an article published Sunday. The Financial Times reported that Wells Fargo will be spinning off a number of its products “worth hundreds of millions of dollars,” according to CFO John Shrewsberry, in order to […]
Sprint Corp.’s (S) Chairman Masayoshi Son met separately with Berkshire Hathaway’s (BRK.A) Warren Buffett and cable and media tycoon John Malone, possibly concerning an investment in the telecom company, according to the Wall Street Journal, sending the stock jumping 4.3% to $8.55 by Friday’s close. Though the details of the meeting have not been disclosed, […]
