Apple buybacks eclipse value of most S&P 500 companies
Apple Inc said on Tuesday it handed its shareholders $20 billion through share buybacks in the June quarter, bringing its tally this year to a record $43 billion and helping push its stock price to an all-time high.
Greenlight’s bet against Tesla crashes fund’s second-quarter returns
Billionaire hedge fund manager David Einhorn told investors on Tuesday that a sharp rally in Tesla Inc shares, which he bet against, turned into heavy second-quarter losses at his Greenlight Capital fund, and stuck by his dim outlook for the electric c…
Third Point seeks allies to put pressure on Campbell Soup: sources
Activist hedge fund Third Point LLC is meeting with some of Campbell Soup Co’s largest shareholders to seek support for changes at the U.S. consumer company, people familiar with the matter said on Tuesday.
U.S. insurers grilled on exposure to $4.7 billion J&J talc verdict
Wall Street is trying to figure out whether the U.S. insurance industry will bear any costs from a record $4.69 billion judgment against Johnson & Johnson awarded to customers and their families who claimed that asbestos-contaminated talc caused ovarian cancer.
China’s Baidu tops profit estimates on ad sales growth
Chinese internet search giant Baidu Inc on Tuesday topped Wall Street estimates for quarterly profit on the back of strong growth in its online advertisement business.
Apple’s pricey iPhone X, subscriptions deliver earnings beat
Apple Inc sales led by the pricey iPhone X pushed quarterly results far beyond Wall Street targets on Tuesday, with subscriptions from App Store, Apple Music and iCloud services bolstering business.
Thyssenkrupp investor Elliott says divisions should have more say
Activist investor Elliott wants Thyssenkrupp to give its business divisions more autonomy to pursue promising ventures, an Elliott executive told German daily Die Welt, following a leadership crisis at the German engineering group.
GE wins $631 million U.S. defense contract: Pentagon
General Electric Co has been awarded a $631 million contract for repair, replacement and program support of engine components used on the F/A-18 E/F and EA 18G aircraft, the Pentagon said in a statement on Tuesday.
NBA strikes sports betting deal with MGM as official partner
The National Basketball Association on Tuesday announced its first-ever official sports betting partner, MGM Resorts International , with the league agreeing to sell its official game data to the casino operator for undisclosed terms.
Devon Energy misses profit estimates as costs rise
U.S. oil producer Devon Energy Corp on Tuesday missed Wall Street estimates for quarterly profit as expenses rose, offsetting gains from higher oil production.
