Tech, healthcare stocks weigh on Wall Street
U.S. stock indexes were lower on Friday as weak earnings reports from Intel and Twitter dragged on the technology sector and as healthcare stocks were pressured by a clutch of disappointing earnings.
Intel shares slip on fears of AMD data center chip challenge
Intel Corp shares fell 9 percent on Friday, after the chipmaker’s upbeat results were overshadowed by concerns that Advanced Micro Devices Inc may be chiseling off market share from its high-margin data center business.
Bayer hits back at new Netflix medical device documentary
Bayer AG disputed accusations in a new Netflix documentary that claims medical device makers and the U.S. Food and Drug Administration placed profits before patient safety.
CBS shares tumble on report of sexual misconduct by CEO Moonves
Shares of U.S. television network CBS Corp tumbled 6.3 percent to $53.88 midday on Friday after the Hollywood Reporter said that the New Yorker magazine would soon publish a claim that CBS chief executive officer Les Moonves has been accused of sexual…
Twitter warns fake account purge to keep erasing users, shares drop 19 percent
Twitter Inc on Friday said it lost 1 million monthly active users from the previous quarter and warned the closely watched figure could keep falling as it deletes more phony accounts, causing the biggest one-day decline in its shares since 2016.
Fox and Disney shareholders approve deal for entertainment assets
Twenty-First Century Fox Inc and Walt Disney Co said on Friday their shareholders voted to approve Disney’s $71 billion purchase of Fox’s film and television assets.
Merck profit beats, but Keytruda sales fail to impress
Merck & Co beat quarterly profit estimates on Friday as sales of its blockbuster drug Keytruda overtook rival Bristol-Myers Squibb’s Opdivo, but that was not enough for investors who expected bigger gains in market share for the cancer therapy.
Global stocks poised for fourth week of gains, with focus on earnings
World shares were little changed on Friday as mixed corporate profits and economic data that met expectations struggled to offset concerns over trade and central bank policy, though a key global equity index was still set for a fourth week of gains.
Exxon Mobil, Chevron earnings miss Wall Street expectations
Exxon Mobil Corp and Chevron Corp , two of the world’s largest oil producers, reported quarterly profit on Friday that fell far short of Wall Street’s expectations.
Merck profit beats, but plan for animal health unit disappoints
Merck & Co beat quarterly earnings estimates as sales of blockbuster drug Keytruda nearly doubled, but investors were disappointed after the drugmaker said it was unlikely to follow rival Eli Lilly in separating its animal health unit.
