S&P 500 dented by earnings; Dow hits record high
(Reuters) – The S&P 500 slipped on Friday on negative reactions to earnings reports from high-profile names such as Amazon, Exxon and Starbucks and a drop in shares of tobacco companies.
Wall Street braces for end of Snap share lockup
SAN FRANCISCO (Reuters) – A flood of Snap Inc shares held back since the Snapchat owner’s initial public offering could start to trade freely next week, pressuring a stock that has already plunged far below its debut price.
Merck profit beats as Keytruda sales soar, expenses drop
(Reuters) – Merck & Co Inc’s quarterly profit blew past analysts’ estimates on Friday as demand surged for its key immuno-oncology drug, Keytruda, and the company reined in expenses.
Genish’s arrival gives Vivendi tighter hold on Telecom Italia
MILAN (Reuters) – Telecom Italia will name Vivendi’s Amos Genish as its general manager on Friday as the French media giant tightens its grip on the Italian phone group, where it is the largest shareholder.
Dividends a worry at drugmakers Astra, GSK after dramatic week
LONDON (Reuters) – Britain’s two big drugmakers face very different challenges but they share a common problem: how to convince investors that their dividends are safe.
GM Cadillac chief outlines plan for fewer sedans, more electrics
DETROIT (Reuters) – The head of General Motors Co’s Cadillac luxury division said on Thursday the brand will shrink its lineup of sedans and expand its offerings of sport utility vehicles and hybrid and electric vehicles in response to market shifts.
Value of U.S. deals in China sinks on rising trade tensions
HONG KONG (Reuters) – U.S. corporate acquisitions in China collapsed to their lowest level for 14 years in the first half of this year, as trade tensions between the two countries and uncertainty about Chinese government regulations took a toll on deal…
U.S. economy speeds up in second quarter, wages continue to lag
WASHINGTON (Reuters) – The U.S. economy accelerated in the second quarter as consumers ramped up spending and businesses invested more on equipment, but persistent sluggish wage gains cast a dark shadow over the growth outlook.
In Puerto Rico bankruptcy, mutual funds compete with themselves
(Reuters) – U.S. mutual funds that held onto Puerto Rican debt as its economy crept toward collapse could get drawn into battles that pit their own investors against each other, as the island navigates the biggest government bankruptcy in U.S. history….
Wells Fargo to refund $80 million to customers hit by car loan insurance
(Reuters) – Wells Fargo and Co said it would reimburse about $80 million to 570,000 customers who may have been charged wrongly due to issues related to auto collateral protection insurance (CPI) policies.
