Stocks have rebounded from a sluggish start and are showing modest gains in mid-morning trading. The action on Wall Street has been sluggish so far, as traders digest weak housing data and a decline in consumer attitudes. The major averages fell at the open, spurred lower by a report showing disappointing home prices. The market has rebounded lately, however.
The European Commission said Tuesday that its preliminary view is that tax deals granted by Ireland to U.S. technology giant Apple Inc. constituted illegal state aid. The European regulator's probe is part of efforts to focus on tax avoidance by multinational companies in Europe following the 2008 financial crisis and to eventually demand these companies to return unpaid taxes.
Healthcare giant Johnson & Johnson (JNJ) Tuesday announced a definitive agreement to acquire privately-held clinical stage biopharmaceutical company Alios BioPharma, Inc. for about $1.75 billion in cash.
The U.K. economy grew more than estimated in the second quarter and the current account deficit widened from the first quarter, the Office for National Statistics said Tuesday. Gross domestic product grew 0.9 percent sequentially, up from the prior estimate of 0.8 percent. The annual growth was confirmed at 3.2 percent.
Eurozone inflation slowed in September, as expected, to the lowest since late 2009 and the unemployment rate remained stable at a double digit level in August putting pressure on the European Central Bank to launch a full-blown easing. Inflation came in at 0.3 percent, slower than August's 0.4 percent. This was the lowest since October 2009, when prices fell 0.1 percent.
Drugstore chain Walgreen Co. (WAG) Tuesday reported a loss for the fourth quarter, compared to profit last year, hit by a hefty non-cash loss. Adjusted earnings met Wall Street expectations, and so were revenues.
E-commerce giant eBay Inc. said its Board of Directors has approved a plan to separate eBay and PayPal businesses into independent publicly traded companies in 2015, subject to conditions. Separately, the company announced the appointment of Dan Schulman as the new president of PayPal with immediate effect. Schulman will become PayPal's chief executive officer in the second half of 2015.
Trading in the U.S. index futures suggests that Wall Street stocks may open Tuesday's session higher following yesterday's retreat. Earlier in the global trading day, Asian stocks closed mixed amid continuing turmoil in Hong Kong and mixed data from the region, while the European markets are also trading...
Royal Bank of Scotland Group Plc. (RBS, RBS.L) Tuesday said it now expects lower impairments for fiscal year 2014, than the previously anticipated 1 billion pounds. The company cited continued improvement in economic conditions and asset prices in its key markets, including Ireland. The stock added 4 percent in early morning trading.
Plumbing and heating products distributor Wolseley Plc. reported Tuesday a surge in fiscal 2014 profit, benefited by the absence of a prior year charge as well as growth in revenues from ongoing businesses. The company also announced higher dividend for the year, as well as a 250 million pounds share buyback programme.
U.K. house prices unexpectedly declined in September after rising for sixteen straight months amid signs that demand may be starting to ease, the results of a survey by the Nationwide Building Society showed Tuesday.
The house price index dropped 0.2 percent from August, when it climbed 0.8 percent....
The major European markets are likely to open on a mixed note Tuesday amid concerns over sluggish economic growth in China.
A private gauge of activity in China's manufacturing sector showed sluggish growth for a second straight month in September, indicating that the world's second-largest economy...
AMAG Pharmaceuticals Inc. (AMAG) rose more than 28% to close at a 4-year high of $29.72 on Monday after the company announced that it is acquiring privately held Lumara Health Inc. in a deal valued at about $1.025 billion.
After moving sharply lower at the open, stocks showed a substantial recovery attempt over the course of the trading day on Monday. The Nasdaq and the S&P 500 bounced well off the one-month intraday lows set in early trading but still closed in the red.
U.S. crude oil ended sharply higher for a second straight session on Monday, after data from the U.S. showed consumer spending to have risen more than expected in August. Prices also found support over the upcoming temporary refinery closures to prepare for the winter. Prices were also under pressure...