Walmart beats Q1 2018 EPS estimates, issues strong Q2 view
The stock of retail chain Walmart Stores (NYSE: WMT) rallied more than 3% last Thursday to close at $77.54. The steep rise in the share price was due to fiscal 2018 first-quarter earnings that surpassed the Wall Street estimates. The
Read MoreBlackstone Announces $40bn Infrastructure Fund With Saudi Arabia
Against the background of U.S President Donald Trump making his first overseas visit to Saudi Arabia, Blackstone Group, a major private equity firm has announced the launch of a $40 billion fund that will invest into infrastructure projects in United
Read MorePepsiCo beats Q1 2017 estimates, reaffirms FY17 EPS view
Despite reporting fiscal 2017 first-quarter results that beat analysts’ consensus, the stock of food and beverage company PepsiCo Inc (NYSE: PEP) remains range bound between $111.50 and $113.50. Analysts attribute the decline in the adjusted gross and operating margin for
Read MoreEuropean Banks Threaten Exodus From London
European banks have indicated in private discussions that they would shift hundreds of jobs out of the UK if Brexit results in the Bank of England demanding that they pour in fresh capital into their British operations. The new capital
Read MoreApple Q2 2017 rev miss estimates, issues soft Q3 2017 rev view
While reporting the fiscal 2017 second quarter results on Tuesday last week, Apple Inc (NASDAQ: AAPL) said that it sold 50.8 million iPhones – few notches lower than analysts expectation of 52 million- in the March quarter. That caused a
Read MoreExxon UP on beating Q1 2017 EPS estimates, higher NG prices
Last week, the US administration denied a request to remove restrictions on the world’s most valued energy company Exxon Mobil Corp (NYSE: XOM) to carry out operations in the banned parts of Russia. The sanctions were slapped on Russia in
Read MoreCredit Suisse Scraps IPO, Anounces Plans To Raise Capital Of $4bn
Global banking major Credit Suisse has announced that it will recapitalize with a share sale worth $4 billion as a part of its efforts to restructure itself and address concerns regarding its capital levels. Credit Suisse would become the third
Read MoreeBay beats Q1 estimates, issues poor Q2, FY17 view
The stock of e-commerce company Ebay Inc (NASDAQ: EBAY) plunged 8% last week to close at $32.16. Ironically, the stock was punished after the company posted fiscal 2017 first-quarter revenue and earnings that beat analysts’ expectations. Analysts attribute the poor
Read MoreMasterCard Unveils Payment Card With Fingerprint Scanner
Global credit card major MasterCard has announced that is testing a payment card that has an inbuilt fingerprint sensor. The card’s unveiling came after two trials were successfully conducted with a local bank and retailer in South Africa. Under this
Read MoreThyssenkrupp turns bearish as union resists restructuring
Last month, Tata Steel, a $100 billion business conglomerate based out of India, stated that it is still in talks with Germany’s Thyssenkrupp Ag (OTC: TYEKF) to merge its European steel operations with the latter. Considering the weakness in the
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