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Energy services company Shawcor Ltd. (SCL.TO, SCL_SV_A.TO) announced late Sunday that it has entered into an arrangement agreement to acquire ZCL Composites Inc. (ZCL.TO) for C$10 per share in cash. The price per share implies an aggregate fully diluted equity value for ZCL of approximately C$308 million. The...

Nissan Motor Co. (NSANF.PK, NSANY.PK) and Mitsubishi Motors Corp. said Friday that Carlos Ghosn, former chairman of the two companies, improperly received 7.82 million euros or about $9 million from Nissan-Mitsubishi B.V., a joint venture company established by the companies. Nissan Motor Co.. and...

State Street Corp. (STT) said that the new cost-cutting program will reduce its workforce by 6%, or about 1,500 employees and will cut number of senior managers by 15%. Ronald O'Hanley, President and Chief Executive Officer, said ",... Amidst challenging market and industry headwinds, we have launched...

GameStop Corp. (GME) reported, for the for the nine-week holiday period ended January 5, 2019, total global sales were $2.63 billion, a 5.0% decrease compared to the prior year nine-week holiday period ended December 30, 2017. Total comparable store sales increased 1.5%, including a 3.6% increase in...

Eli Lilly and Company (LLY) said that a late-stage trial of a treatment for sarcoma did not meet the primary endpoints. It is suspending promotion of lartruvo. It expects to incur a charge of $70 million - $90 million pre-tax or $0.10 per share in the first quarter. In addition, the company expects the...

Cooper Tire & Rubber Co. Europe Ltd., a subsidiary of Cooper Tire & Rubber Co. (CTB) said Friday it will move forward with a previously announced proposal to cease light vehicle tire production at its Melksham, England facility. The plan is geared to help Cooper Tire Europe enhance its competitiveness...

Tesla CEO Elon Musk, in an email sent to all employees, confirmed the company will reduce full-time employee headcount by approximately 7% and retain only the most critical temps and contractors. Elon Musk stated that Tesla will need to make these cuts while increasing the Model 3 production rate and...

Tiffany & Co. (TIF) on Friday reported a decline in sales results for the two months, or holiday period, ended December 31, 2018. Looking ahead, the company updated its outlook for fiscal 2018 and provided preliminary guidance for fiscal 2019. Worldwide net sales for the holiday period declined 1...

Wipro Ltd. (WIT) reported that its third-quarter net income was $360.8 million, up by 29.6% from prior year. EPS was $0.08, an increase of 38.2%. For the third-quarter, gross revenue was at $2.2 billion, up 10.2% from previous year. Adjusted non-GAAP constant currency IT Services Segment revenue grew...

CVS Health (CVS) and Walmart (WMT) said that they reached a multi-year agreement on terms under which Walmart will continue participating in the CVS Caremark pharmacy benefit management or PBM commercial and Managed Medicaid retail pharmacy networks. The companies are not disclosing the financial...

Wacker Chemie AG (WKCMY.PK, WKCMF.PK) announced, according to preliminary figures, the company anticipates EBITDA of about 930 million euros for 2018, a decline of 8 percent from prior year, and also below recent EBITDA guidance. Net income from continuing operations is now expected to be slightly higher...

As per an article published in the Wall Street Journal, Tesla Motors, Inc. (TSLA) is about to reduce 7% of the company's full time workforce. The move could help the company to reduce the price of Model 3 Sedan, Tesla CEO Elon Musk stated. Tesla is planning to increase the production of Model 3 Sedan...

BMW Group announced that a Special General Meeting of Brilliance China Automotive Holdings Ltd. approved the sale of a 25 percent shareholding in BBA to the BMW Group with around 63 percent of the represented shareholders voted in favor. The BMW Group previously announced its intention to increase its...

Ryanair Holdings plc (RYA.L, RYAAY) announced the company lowered its full year profit guidance (excl. Lauda) to a new range of 1.0 billion euros- 1.1 billion euros from a current profit after range of 1.1 billion euros - 1.2 billion euros due to: lower winter fares, stronger traffic growth, stronger...

Groupe Renault (RNSDY.PK) reported that its 2018 sales increased by 3.2% to 3,884,295 vehicles. PC sales were down 1.0% to 3,265,066 vehicles, while LCV sales were up 33.7%, for 2018. The Group noted that its 2018 sales increased by 3.2% while integrating the Jinbei and Huasong brands since January 1,...

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