Infosys loses $6.6 billion in market cap after whistleblower complaints
India’s No.2 software services exporter, Infosys Ltd , is probing whistleblower complaints that its top two executives engaged in “unethical practices” to boost short-term revenue and profit, sending its shares down 16% on Tuesday.
S&P 500 rises on upbeat corporate earnings; Travelers weighs on Dow
The S&P 500 rose on Tuesday, bolstered by gains in Biogen and upbeat earnings reports that eased concerns over the fallout from the U.S.-China trade war, but the Dow Jones index was pressured by a drop in McDonald’s and Travelers.
VW speeds up production of next generation Golf
Volkswagen will start deliveries of its new Golf hatchback in December after shaving an hour off the time needed to build its flagship model, the board member responsible for production at the VW brand said on Tuesday.
Lockheed Martin profit climbs, expects lower cash flow in 2020; shares gain
Lockheed Martin Corp raised its estimate for 2019 earnings on Tuesday as quarterly profit climbed 9.2% amid improved sales of its F-35 fighter jets, sending shares higher even as it forecast a lower cash flow for next year.
McDonald’s posts rare profit miss, shares drop
McDonald’s Corp missed Wall Street estimates for profit for the first time in two years on Tuesday as more investment to spruce up U.S. restaurants and speed up delivery weighed on the world’s biggest fast food chain, sending its shares down 3%.
Boeing makes progress on 737 MAX, but FAA needs weeks to review
Boeing Co is making progress toward getting its 737 MAX aircraft in the air again, but the U.S. Federal Aviation Administration (FAA) will need at least several more weeks for review, FAA Administrator Steve Dickson said on Tuesday.
U.S. existing home sales drop more then expected in September
U.S. home sales fell more than expected in September as the market continues to struggle with a dearth of properties for sale, especially for cheaper homes.
Oil prices rise on prospects for U.S.-China trade deal
Oil prices rose on Tuesday buoyed by prospects of a trade deal, but concerns about demand limited the gains.
WeWork board accepts SoftBank rescue deal: source
WeWork’s board has accepted a takeover plan proposed by SoftBank Group, handing control of the office-sharing startup to the Japanese firm, according to a source directly familiar with the matter.
Wall Street opens higher on upbeat earnings, healthcare boost
Wall Street opened higher on Tuesday after a batch of upbeat earnings reports eased concerns over domestic growth and the fallout from the U.S.-China trade war, while a surge in Biogen boosted the healthcare sector.
