Business News

S&P 500, Nasdaq hit record closing highs on upbeat earnings

NEW YORK (Reuters) - The S&P 500 index and the Nasdaq registered record closing highs after a broadbased rally on Tuesday, as a clutch of better-than-expected earnings reports eased concerns about a slowdown. In Tuesday’s trading the benchmark index finally erased all the steep losses it saw in late 2018 by ending the day above the previous record reached on Sept. 20. It closed just 0.3% below its intra-day rec...

23 Apr 11:49 PM 0 Read More...

Boeing sees FAA approving software fix in May, MAX ungrounding in July: sources

CHICAGO/SEATTLE (Reuters) - Boeing Co has told some 737 MAX owners it is targeting U.S. Federal Aviation Administration approval of its software fix as early as the third week of May and the ungrounding of the aircraft around mid-July, two sources told Reuters. The dates are part of a provisional timeline that Boeing has shared in meetings with airline customers as it explains an upgrade to software that played a rol...

23 Apr 11:49 PM 0 Read More...

All Wells Fargo directors elected at rowdy shareholder meeting

DALLAS (Reuters) - Wells Fargo & Co shareholders voted to elect all of the company-nominated directors during a rowdy meeting on Tuesday in which more than a dozen attendees were kicked out for heckling executives and board members. The majority of the San Francisco-based bank’s 12 board members joined Wells Fargo after the bank became mired in scandal in late 2016 for opening potentially millions of unauthori...

23 Apr 6:44 PM 0 Read More...

Twitter shares jump, ascribes growth to fight against abuse

NEW YORK (Reuters) - Shares in Twitter Inc jumped 13 percent on Tuesday after the social media company reported quarterly revenue above analyst estimates, which executives said was the result of weeding out spam and abusive posts and targeting ads better. New ad formats, partnerships with content providers like the U.S. National Basketball Association and efforts to patrol abusive content are helping Twitter better c...

23 Apr 6:44 PM 0 Read More...

S&P 500 closes in on record high after upbeat earnings

(Reuters) - The S&P 500 inched toward a record high on Tuesday, as a clutch of better-than-expected earnings reports eased concerns of slowing corporate profits and sparked a broad-based rally. The benchmark index is just 0.28% away from an intra-day record high of 2,940.91 hit on Sept. 21. The index has surged about 17 percent this year, helped by a largely upbeat earnings season, hopes of a U.S.-China trade res...

23 Apr 6:44 PM 0 Read More...

P&G operating margin, grooming product sales dip on strong dollar; shares drop

(Reuters) - Procter & Gamble Co reported a decline in its third-quarter operating margin on Tuesday and said a strong U.S. dollar hurt sales of its grooming products, sending shares of the maker of Tide and Gillette products down as much as 3.3%. Soaring commodity and transportation costs have eroded margins across the consumer goods industry over the past year. P&G said its core operating margin declined by ...

23 Apr 6:44 PM 0 Read More...

Trump's policies lift Lockheed Martin's profit, shares surge

(Reuters) - Lockheed Martin Corp reported better-than-expected quarterly profit on Tuesday as U.S. President Donald Trump’s looser policies on foreign arms sales boosted demand for missiles and fighter jets. The Pentagon’s biggest weapons supplier is the first major defense company to report quarterly earnings this week, which Wall Street expects to be higher than a year ago as global demand for arms rises. Trump...

23 Apr 6:44 PM 0 Read More...

EU watchdogs give banks no leeway on Brexit-driven hub demands

LONDON/FRANKFURT (Reuters) - European Union regulators are refusing to cut British-based banks any slack over bulking up in the bloc in preparation for Brexit, despite an extension to the process which some have taken as an opportunity to drag their feet. Cost-conscious banks are reluctant to spend millions more and cause further disruption to already unsettled staff given uncertainty over how and when Britain will l...

23 Apr 1:44 PM 0 Read More...

Twitter gains more users, Trump renews attack on social media

NEW YORK (Reuters) - Twitter Inc on Tuesday posted better-than-expected quarterly revenue and a surprise increase in monthly active users, showing its efforts to police spam accounts and abusive posts were helping lure more users and advertising dollars. Twitter shares surged more than 8 percent in premarket trade. Like Facebook Inc , Twitter has been under pressure from lawmakers over privacy concerns and politica...

23 Apr 1:44 PM 0 Read More...

Wall Street poised for slight gains after upbeat earnings

(Reuters) - U.S. stocks opened higher on Tuesday, led by gains in technology stocks and upbeat earnings from a handful of companies including Coca-Cola and Twitter. The Dow Jones Industrial Average rose 2.78 points, or 0.01%, at the open to 26,513.83. The S&P 500 opened higher by 2.02 points, or 0.07%, at 2,909.99. The Nasdaq Composite gained 11.48 points, or 0.14%, to 8,026.75 at the opening bell. Reporting by A...

23 Apr 1:44 PM 0 Read More...