Drug stocks hit by Amazon health push, while tech steadies Wall Street
(Reuters) – Amazon’s move to entrench itself in the health sector sent drug stocks sliding on Thursday, but gains in financial and technology stocks helped Wall Street keep its footing.
Madison Square Garden shares rise after company mulls spinoff
(Reuters) – Shares of Madison Square Garden Co rose 12 percent on Thursday after the New York Knicks owner said it is exploring a spinoff to separate its sports businesses from live entertainment.
Workers can shield German conglomerates from GE-style breakups
FRANKFURT/MUNICH (Reuters) – The breakup of General Electric announced this week has put pressure on German conglomerates to consider similar moves, but executives must take account of the labor unions on their boards who have the power to veto radica…
Wall Street opens lower as Amazon buy hits drug stocks
(Reuters) – Amazon’s move to entrench itself in the health sector sent drug stocks sliding on Thursday, but gains in financial and technology stocks, helped Wall Street keep its footing.
LVMH cuts ties with Bono’s ethical fashion brand Edun
PARIS (Reuters) – French luxury group LVMH is parting ways with the eco-friendly Edun label started by singer Bono and his wife Ali Hewson, transferring its minority stake back to the founders as the firm winds down its U.S. operations.
Amazon to buy PillPack in drug retailing push
(Reuters) – Amazon.com Inc said on Thursday it would buy online pharmacy PillPack, a small but significant step into the U.S. healthcare sector, sending shares of drug distributors and retailers lower.
U.S. first-quarter GDP growth lowered; weekly jobless claims rise
WASHINGTON (Reuters) – The U.S. economy slowed more than previously estimated in the first quarter amid the weakest consumer spending in nearly five years, but growth appears to have since regained momentum on the back of a robust labor market and tax …
Walgreens tops profit estimates, to buy back $10 billion shares
(Reuters) – Walgreens Boots Alliance Inc’s quarterly profit beat estimates on Thursday as the drugstore chain benefited from its acquisition of rival Rite Aid Corp’s stores, and the company said it would buy back shares worth up to $10 billion.
Icahn cuts stake in Cheniere Energy, says confident on management
(Reuters) – Activist investor Carl Icahn has reduced his stake in energy company Cheniere Energy Inc to 9.5 percent, and said he was confident in the company’s management and Chief Executive Officer Jack Fusco.
JPMorgan Chase takes smartphone account ‘Finn’ nationwide
NEW YORK (Reuters) – JPMorgan Chase & Co said on Thursday that it is now offering a digital bank account for smartphones nationally after testing and refining the app in St. Louis since October.
