Coverage: Shareholders slam Wells Fargo at annual meeting
Shareholders of bank Wells Fargo & Co. vented their anger at the company’s board of directors during the Tuesday annual meeting, asking pointed questions about their knowledge of the recent scandal that cost the CEO his job and led to hundreds of millions in fines. James Rufus Koren of the Los Angeles Times had the news: […]
Coverage: PPG ups its bid for rival paint maker to $29 billion
PPG Industries Inc. upped its offer for rival paint maker Akzo Nobel NV to $28.8 billion on Monday and indicated it make become hostile if the Dutch company doesn’t begin negotiations. Ellen Proper, Jack Kaskey and Ed Hammond of Bloomberg News had the news: The latest bid provides sufficient time for Akzo to negotiate a merger agreement […]
Coverage: Becton Dickinson to buy CR Bard for $24 billion
Medical technology company Becton Dickinson & Co. announced Sunday that it’s acquiring rival C.R. Bard Inc. for $24 billion, another deal in a consolidating industry. Jonathan Spicer of Reuters had the news: The companies said both boards of directors approved the “definitive agreement” which values Bard shares at $317.00 each. The shares closed trading Friday at […]
Coverage: Mattel drops after weak Barbie, American Girl sales
Shares of Mattel Corp. fell by as much as 8.6 percent after the toy maker reported earnings and revenue that were well below Wall Street expectations. Sarah Whitten of CNBC.com had the news: The toy company posted a loss of 32 cents per share, excluding items. That was worse than the expected loss of 17 cents […]
Coverage: Fox News parts ways with Bill O’Reilly
Anchor Bill O’Reilly will not return to Fox News after the company investigated sexual harassment claims against him, causing another black eye for parent company 21st Century Fox. Emily Steel and Michael S. Schmidt of the New York Times had the news: Mr. O’Reilly is departing two and a half weeks after an investigation by The New York […]
Coverage: Cardinal Health falls despite medical supplies deal
Shares of Cardinal Health Inc. fell by 12 percent on Tuesday after the company said earnings this year will be on the low end of projections and despite it announcing a deal to acquire Medtronic’s medical supplies business for $6.1 billion. Ankur Banerjee and Akankshita Mukhopadhyay of Reuters had the news: The company’s shares tumbled 12 […]
Coverage: Netflix falls on weak subscription growth
Netflix Inc. beat earnings estimates for the first quarter, but shares of the streaming media company took a hit in after-hours trading Monday after it reported weaker-than-expected new subscriptions for the period. David Ng of the Los Angeles Times has the news: The slowdown came despite the release of popular new titles, including the superhero-themed “Marvel’s […]
Coverage: Uber Technologies is losing billions
Privately held Uber Technologies Inc. disclosed its financial performance for the first time ever, saying it recorded net revenue of $6.5 billion, while adjusted net losses were $2.8 billion in 2016. Eric Newcomer of Bloomberg News had the story: Uber declined to report first-quarter numbers, saying they were in line with expectations but that the company […]
Coverage: Software company Yext rises 22 percent after IPO
Tech company Yext began trading Thursday after it raised $115 million from its initial public offering, and the stock closed up 22 percent during the first day. Anita Balakrishnan of CNBC.com had the news: Yext provides cloud-based search technology that helps consumers “discover new businesses, read reviews and find accurate answers to their queries,” according to […]
Marijuana Business Daily becomes AP member
Marijuana Business Daily has become a member of the Associated Press, giving the cannabis-focused news publication access to marijuana-related stories from around the world. “This allows us to enhance our coverage by offering readers more news and analysis about the marijuana industry, legalization efforts and the businesses and people behind this rapidly growing sector,” said […]
