Gap's June results excite investors but analysts remain wary
Gap Inc.’s June results galvanized investors, with shares jumping 5.2% in Friday trading. But many analysts are holding back before declaring the positive showing a trend. Gap GPS, +4.95% ..>> view originalUS Oil Rig Count Rises 10 to 351
The number of rigs drilling for oil in the U.S. rose by 10 in the past week to 351, according to oil-field services company Baker Hughes Inc. The U.S. oil-rig count is typically viewed as a proxy for activity in the sector. After peaking at 1,609 in October...>> view originalWhy Viacom Chief Philippe Dauman is fighting his longtime boss, Sumner Redstone
One question looms large as pressure mounts on Viacom Inc. Chief Executive Philippe Dauman: Why is the embattled executive waging a high-stakes war with his longtime boss?Power, pride, principle -- and indignation -- all could be playing a part in Dauman’s campaign to remain a pivotal figure in Sumner Redstone’s $40-billion media empire, which includes Viacom Inc. and CBS Corp. After being ousted from the Sumner Redstone trust that eventually will oversee the mogul’s stock holdings, Dauman and..>> view originalCBS looking to spin off CBS Radio with an IPO
CBS to spin off its radio network, launching it as a public company with its own IPO.(Photo: JAE C. HONG, AP)CBS is making moves to split off its radio network, launching it as an independent public company.The company detailed plans for CBS Radio's initial public offering in a filing with the Securities and Exchange Commission on Friday.The radio business is comprised of 117 stations based in many of the country's major markets. According to the prospectus, "upon completion of both this offerin..>> view originalS&P 500 brushes record high after blowout jobs report
NEW YORK The benchmark S&P 500 stock index brushed against its record closing high on Friday as Wall Street rallied after a much-larger-than-expected jump in jobs growth confirmed the U.S. economy has regained speed after a first-quarter lull.The S&P briefly traded above its record close but ended less than a point below it and was three points away from the all-time intraday high of 2,134.72 reached in May 2015. On a total return basis, including reinvested dividends, the S&P 500 .SPXT ended ..>> view originalPolycom says to be bought by PE firm; ends Mitel deal
(Reuters) - Video conferencing equipment maker Polycom Inc said it agreed to be bought by a private equity firm for about $1.7 billion, scrapping a three-month old deal with Canada's Mitel Networks Corp. The PE firm, Siris Capital Group, offered $12.50 per share in cash for Polycom, representing a premium of 15 percent to Polycom's Thursday close. Polycom's shares rose about 13.6 percent to $12.35 in premarket trading on Friday, just shy of the offer price. Mitel shares j..>> view originalBig Insurers Defend $34 Billion Merger
Aetna Inc. and Humana Inc. face resistance from the Justice Department to their proposed $34 billion merger and an uphill battle persuading antitrust enforcers the deal won’t harm competition, according to people familiar with the matter. The insurers on Friday met with top government officials in a late-in-the-game attempt to make their case that the deal has public benefits and won’t hurt consumers, and that they could address...>> view originalEssar Steel's Minnesota Unit Files for Chapter 11 Bankruptcy
India’s Essar Steel put its Minnesota iron-ore mine and processing plant into chapter 11 bankruptcy protection Friday after the state revoked its mining leases. The Minnesota Department of Natural Resources on Friday moved to cancel Essar Steel Minnesota LLC’s leases to mine taconite iron ore after it missed a July 1 deadline to complete construction of the $1.9 billion plant, which broke ground in 2008. Minnesota Gov. Mark...>> view originalUS Job Growth Rebound Calms Fears of Economic Swoon
A powerful rebound in hiring last month eased fears about an economic downturn as the U.S. expansion enters its eighth year, putting the nation on solid footing to absorb global shocks and market turbulence. Employers added a seasonally adjusted 287,000 jobs in June for the strongest job growth in eight months, the Labor Department said. Nearly every sector of the economy added workers to power a dramatic swing from May’s dismal...>> view originalApple, Microsoft, HP among companies shunning GOP convention
SAN FRANCISCO — Donald Trump has promised to liven up this year’s Republican National Convention. But some of America’s biggest corporations are bailing on the party. Apple recently became the latest company to give the GOP’s presumptive nominee the cold shoulder; it won’t contribute money or products to the Republicans’ big shindig in Cleveland this month. HP Inc. is also withholding support, while Microsoft is giving products only, not cash. Beyond the tech industry, Ford, JPMorgan Chase and ..>> view original
Monday, July 11, 2016
Gap's June results excite investors but analysts remain wary and other top stories.
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