Finance news

• Shake Shack IPO prices far above expected range

  29-01-2015 23:59
  
  (Reuters) - Growth-hungry investors snapped up shares offered by Shake Shack Inc , setting the stage for a sizzling debut for the New York-based burger chain when its stock starts trading on Friday.
  
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• UPDATE 2-Shake Shack IPO prices far above expected range

  29-01-2015 23:56
  Jan 29 (Reuters) - Growth-hungry investors snapped up shares offered by Shake Shack Inc, setting the stage for a sizzling debut for the New York-based burger chain when its stock starts trading on...
  
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• FOREX-Commodity currencies feel heat as G3 consolidate

  29-01-2015 23:55
  SYDNEY, Jan 30 (Reuters) - Dollar-bloc currencies nursed hefty losses early on Friday, following a selloff that saw the Australian dollar slump to its lowest in over five years as investors wagered...
  
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• Crane maker Manitowoc to spin off foodservice business

  29-01-2015 23:54
  (Reuters) - Crane maker Manitowoc Co Inc said it would spinoff its high-margin foodservice business into a publicly traded company, sending the company's shares up 8 percent in extended trading.
  
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• Yellen tells Senate Democrats U.S. economy looks good: media reports

  29-01-2015 23:41 via news.yahoo.com
  
  Federal Reserve Chair Janet Yellen on Thursday offered an upbeat assessment on the U.S. economy in a meeting with Senate Democrats, even as she noted risks from overseas, according to media reports. According to The Wall Street Journal, Senator Joe Manchin of West Virginia told reporters after a private luncheon with Yellen that she said "things are going well" for the U.S. economy. New York Senator Chuck Schumer told Bloomberg: "Her message is that the economy’s getting better
  
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• Australia shares seen higher on Wall Street, Australian dollar

  29-01-2015 23:35
  SYDNEY, Jan 30 (Reuters) - Australian shares are likely to open higher on Friday led by a late rally on Wall Street boosted by an 9 percent rise in Amazon's stock. The declining Australian dollar is...
  
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• Macquarie in talks to buy Jefferies' futures arm - sources

  29-01-2015 23:32
  MELBOURNE/NEW YORK, Jan 29 (Reuters) - Macquarie Group Ltd is in talks to buy Jefferies Group LLC's commodities and financial derivatives brokerage, three sources said, as the Australian bank...
  
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• Strong earnings and job news give stocks a lift

  29-01-2015 23:29 via news.yahoo.com
  
  After a shaky start, U.S. stocks rebounded Thursday, snapping a two-day losing streak. Investors welcomed better-than-expected quarterly results from several companies, including Ford, Coach and Harley-Davidson. ...
  
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• Google 4th-qtr revenue misses Wall Street target

  29-01-2015 23:26 via news.yahoo.com
  
  By Alexei Oreskovic SAN FRANCISCO (Reuters) - Google Inc's revenue grew 15 percent in the fourth quarter but fell short of Wall Street's target on declining online ad prices and unfavorable foreign exchange rates. Shares of Google edged up 0.1 percent to $510.66 in extended trading after an initial dip on the news. Google's advertising revenue has come under pressure as more consumers access its online services on mobile devices such as smartphones and tablets, where ad rates are
  
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• Google fourth-quarter revenue misses Wall Street target

  29-01-2015 23:13 via news.yahoo.com
  
  By Alexei Oreskovic SAN FRANCISCO (Reuters) - Google Inc's revenue grew 15 percent in the fourth quarter but fell short of Wall Street's target on declining online ad prices and unfavourable foreign exchange rates. Shares of Google edged up 0.1 percent to $510.66 in extended trading after an initial dip on the news. Google's advertising revenue has come under pressure as more consumers access its online services on mobile devices such as smartphones and tablets, where ad rates are
  
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• Materne said to have attracted buyout offer from Eurazeo: Bloomberg

  29-01-2015 23:13
  (Reuters) - The GoGo Squeez fruit puree maker Materne SAS turned down European investment company Eurazeo SA's offer to buy it at 800 million euros ($906 million) last year, Bloomberg reported...
  
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• Wall Street finishes higher in afternoon rally as oil gains

  29-01-2015 22:59 via news.yahoo.com
  
  By Sinead Carew NEW YORK (Reuters) - U.S. stocks enjoyed a late afternoon rally and closed higher on Thursday as an upturn in oil prices and a rally in Apple and Boeing shares helped offset some disappointing earnings and lingering questions over U.S. monetary policy. The S&P 500 had fallen as much as 0.6 percent earlier, led by energy stocks, which then reversed direction along with crude prices. While the afternoon rise in crude was not huge, it was enough to cheer up the market after two
  
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• Stocks gain on late U.S. rally, oil recovers

  29-01-2015 22:56 via news.yahoo.com
  
  By Herbert Lash NEW YORK (Reuters) - Global equity markets were little changed on Thursday after a late surge on Wall Street overcame earlier declines on worries about Greece's path and a mixed earnings season so far, while U.S. government bond yields rose on fresh signs of a strong American labor market. Major Wall Street indexes surged almost 1 percent or more as Apple Inc and Boeing Co extended gains following their strong earnings reports earlier this week. Amazon.com and Google Inc rep
  
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• GLOBAL MARKETS-Stocks gain on late U.S. rally, oil recovers

  29-01-2015 22:48 via news.yahoo.com
  
  Global equity markets were little changed on Thursday after a late surge on Wall Street overcame earlier declines on worries about Greece's path and a mixed earnings season so far, while U.S. government bond yields rose on fresh signs of a strong American labor market. Major Wall Street indexes surged almost 1 percent or more as Apple Inc and Boeing Co extended gains following their strong earnings reports earlier this week.
  
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• Investor Heidi Roizen Shared A Disturbing Story That Shows How Difficult Silicon Valley Can Be For Women

  29-01-2015 22:46 via news.yahoo.com
  
  Newsweek Newsweek’s controversial cover. Newsweek’s provocative cover of a professional woman’s skirt being lifted by a web cursor has reignited the decades-old claim that Silicon Valley is an unabashed boys’ club. Nina Burleigh, author of the cover story, points to the fact that 96% of the Valley’s venture capitalists are male, and a Babson College study determined that only 2.7% of the 6,517 companies that received venture funding from 2011 to 2013 had female CEOs. Burleigh argues th
  
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• Google delivers another earnings letdown, stock sinks

  29-01-2015 22:44 via news.yahoo.com
  
  Google has gotten into the habit of missing analysts' earnings targets, frustrating investors who believe the online search leader would be more profitable it wasn't pouring so much money into far-flung ...
  
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• Broadcom's fourth-quarter results exceed expectations

  29-01-2015 22:44 via news.yahoo.com
  
  Broadcom Corp posted fourth-quarter results on Thursday that exceeded Wall Street's expectations as the chipmaker increased its focus on Wi-Fi and broadband chips. Broadcom, a leader in connectivity chips with features like Wi-Fi and Bluetooth, reported fourth-quarter revenue of $2.14 billion, up 3.8 percent from the year-ago period. Analysts on average had expected fourth-quarter revenue of $2.11 billion and expect first-quarter revenue of $2.01 billion, according to Thomson Reuters I/B/E/
  
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• UPDATE 3-Potash Corp's profit beats on higher potash sales; outlook misses

  29-01-2015 22:41
  Jan 29 (Reuters) - Potash Corp of Saskatchewan , the world's biggest fertilizer company by market capitalization, reported higher-than-expected quarterly profit on strong potash sales, but its 2015...
  
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• UPDATE 1-U.S. Senate banking chair says interested in Fed audit

  29-01-2015 22:38
  WASHINGTON, Jan 29 (Reuters) - The new Republican chairman of the U.S. Senate Banking Committee said on Thursday he was "very interested" in requiring a government audit of the Federal Reserve and...
  
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• Chubb operating profit rises 3.4 pct as premium income increases

  29-01-2015 22:36
  Jan 29 (Reuters) - Property and casualty insurer Chubb Corp's quarterly operating profit rose 3.4 percent as premium income increased.
  
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• Amazon sales rise in holiday quarter, shares jump

  29-01-2015 22:36 via news.yahoo.com
  
  By Deepa Seetharaman SAN FRANCISCO (Reuters) - Amazon.com Inc reported earnings of 45 cents per share for the crucial holiday quarter, trouncing analysts' expectations and sending its shares up 9 percent. Wall Street expected Amazon to report earnings per share of 17 cents, according to Thomson Reuters I/B/E/S. Operating expenses rose 14.6 percent in the quarter to $28.7 billion (19 billion pounds). Net shipping costs represented 4.6 percent of worldwide net sales, slightly lower than the p
  
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• COLUMN-Alibaba combines China and hot stock risks: James Saft

  29-01-2015 22:34
  Jan 29 (Reuters) - If the political risk of Alibaba isn't enough for you, maybe the very considerable execution risk will be.
  
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• McDonald's and Yahoo are big market movers

  29-01-2015 22:29 via news.yahoo.com
  
  Stocks that moved substantially or traded heavily Thursday on the New York Stock Exchange and the Nasdaq Stock Market: NYSE McDonald's Corp., up $4.49 to $93.27 The fast food restaurant operator's president ...
  
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• Google 4th-qtr revenue misses Wall Street target, shares fall

  29-01-2015 22:27 via news.yahoo.com
  
  By Alexei Oreskovic SAN FRANCISCO (Reuters) - Google Inc's revenue grew 15 percent in the fourth quarter, falling short of Wall Street's target on declining online ad prices and unfavorable foreign exchange rates. Shares of Google fell 3.5 percent to $493 in after-hours trading on Thursday. Google said on Thursday the average price of its online ads, or "cost per click," decreased 3 percent year-over-year in the fourth quarter, while the number of consumer clicks on its ads i
  
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• Ceiling collapse kills one on Martin Scorsese set in Taiwan

  29-01-2015 22:25 via news.yahoo.com
  
  (Reuters) - One person died and two were injured on Thursday when a ceiling collapsed on the set in Taiwan of Martin Scorsese's upcoming film "Silence," a spokeswoman for the production said. The three were working as contractors to reinforce a building on the CMPC Studios lot that had been deemed unsafe for production when the accident happened, spokeswoman Leslee Dart said in a statement. "Silence," which is still in pre-production, is the Oscar-winning director's
  
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• Google fourth-quarter revenue misses Wall Street target, shares fall

  29-01-2015 22:22 via news.yahoo.com
  
  By Alexei Oreskovic SAN FRANCISCO (Reuters) - Google Inc's revenue grew 15 percent in the fourth quarter, falling short of Wall Street's target on declining online ad prices and unfavorable foreign exchange rates. Shares of Google fell 3.5 percent to $493 in after-hours trading on Thursday. Google said on Thursday the average price of its online ads, or "cost per click," decreased 3 percent year-over-year in the fourth quarter, while the number of consumer clicks on its ads i
  
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• Google fourth-qtr revenue misses Wall Street target, shares fall

  29-01-2015 22:22 via news.yahoo.com
  
  By Alexei Oreskovic SAN FRANCISCO (Reuters) - Google Inc's revenue grew 15 percent in the fourth quarter, falling short of Wall Street's target on declining online ad prices and unfavorable foreign exchange rates. Shares of Google fell 3.5 percent to $493 in after-hours trading on Thursday. Google said on Thursday the average price of its online ads, or "cost per click," decreased 3 percent year-over-year in the fourth quarter, while the number of consumer clicks on its ads i
  
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• Judge to approve Atlantic City tax deal with Revel Casino

  29-01-2015 22:21
  NEW YORK, Jan 29 (Reuters) - A New Jersey federal bankruptcy
  judge on Thursday said she will approve a deal that allows
  bankrupt Revel Casino Hotel to pay far less in property taxes to
  Atlantic City...
  
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• Broadcom's fourth-quarter revenue beats expectations

  29-01-2015 22:20 via news.yahoo.com
  
  SAN FRANCISCO (Reuters) - Broadcom posted higher fourth-quarter revenue on Thursday that exceeded Wall Street's expectations as the company increased its focus on wifi and broadband chips. ...
  
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• Stock market rises after good news on earnings, job market

  29-01-2015 22:18 via news.yahoo.com
  
  The U.S. stock market is closing sharply higher after investors received encouraging news on corporate earnings and the jobs market. The Dow Jones industrial average jumped 225 points, or 1.3 percent, ...
  
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• CORRECTED-UPDATE 2-Potash Corp's profit beats on higher potash sales; outlook misses

  29-01-2015 22:18
  Jan 29 (Reuters) - Potash Corp of Saskatchewan , the world's biggest fertilizer company by market capitalization, reported higher-than-expected quarterly profit on strong potash sales, but its 2015...
  
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• Google Q4 revenue rises 15 percent

  29-01-2015 22:11 via news.yahoo.com
  
  By Alexei Oreskovic SAN FRANCISCO (Reuters) - Google Inc's revenue grew 15 percent in the final three months of the year, falling short of Wall Street's revenue target as the price of its online ads remained under pressure. Google said consolidated revenue totaled $18.10 billion, compared to $15.71 billion in the year-ago period. Analysts polled by Thomson Reuters I/B/E/S were looking for revenue of $18.46 billon. (Reporting by Alexei Oreskovic; Editing by Richard Chang)
  
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• Google fourth-quarter revenue rises 15 percent

  29-01-2015 22:10 via news.yahoo.com
  
  By Alexei Oreskovic SAN FRANCISCO (Reuters) - Google Inc's revenue grew 15 percent in the final three months of the year, falling short of Wall Street's revenue target a...
  
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• Visa's quarterly profit rises 11.5 pct

  29-01-2015 22:09
  Jan 29 (Reuters) - Visa Inc, the world's largest credit and debit card company, reported an 11.5 percent rise in quarterly profit on Thursday as a strengthening U.S. job market and cheaper gasoline...
  
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• Oil rises on short covering but supply worries loom

  29-01-2015 22:08 via news.yahoo.com
  
  By Barani Krishnan NEW YORK (Reuters) - Global oil prices firmed slightly on Thursday but not before U.S. crude hit a near six-year low and benchmark Brent pared gains on data showing fresh additions to already record-high U.S. oil inventories. Oil prices had risen broadly earlier in the day after preliminary U.S. data showed weekly jobless claims at a near 15-year low, indicating further strength in the world's largest economy.
  
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• China to expand limited FTZ reforms nationwide

  29-01-2015 21:47 via news.yahoo.com
  
  China will expand some reforms from its first free trade zone in Shanghai nationwide, it said Thursday, even as foreign firms show disappointment over the slow pace of change in the FTZ. The Chinese commercial hub set up the FTZ in September 2013, with the promise of a range of financial reforms, including full convertibility of the yuan currency and free interest rates -- which remain unfulfilled. The State Council, or cabinet, announced that 22 measures from the FTZ will be "replicated&qu
  
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• Wall Street gains in choppy session as traders juggle mixed messages

  29-01-2015 21:42 via news.yahoo.com
  
  U.S. stocks were up in a volatile session on Thursday, helped by firmer oil prices, even as mixed corporate news and confusion over U.S. monetary policy left investors anxious about which way to turn. The S&P 500 index was up 0.9 percent in the afternoon after a decline of as much as 0.6 percent earlier in the session and oil futures turned positive on a day when strong job market data contrasted with disappointing reports from Alibaba and Qualcomm. The market has been advancing and retreati
  
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• Democrats set high bar for supporting Obama on trade

  29-01-2015 21:39 via news.yahoo.com
  
  By David Lawder and Richard Cowan PHILADELPHIA (Reuters) - Senior Democrats in the House of Representatives said on Thursday they would insist President Barack Obama provide hard evidence that proposed free trade deals will boost median U.S. incomes, laying out tough terms to support his trade agenda. The demands, made just hours before Obama arrives here to address a House Democratic retreat, are part of a renewed focus by the party on middle-class economic issues. Republicans have made free tr
  
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• Politics, mobile overshadow Alibaba's fairy-tale run

  29-01-2015 21:39 via news.yahoo.com
  
  The Chinese e-commerce giant has acquired a rosy aura since its record-breaking IPO last spring, revealing growth rates and volumes that dwarfed industry stalwarts Amazon.com Inc and eBay Inc. Now, Wall Street is cutting back on expectations in part because of fears that Chinese regulators are sharpening their scrutiny of counterfeit products on e-commerce sites, an endemic problem that Alibaba and others have fought for years. "As the China-factor gets tempered, then excitement (around Ali
  
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• ANALYSIS-Politics, mobile overshadow Alibaba's fairy-tale run

  29-01-2015 21:35
  SAN FRANCISCO, Jan 29 (Reuters) - Alibaba Group Holding Ltd's underwhelming holiday quarter performance and an escalating war of words with a powerful Chinese industry regulator highlight two major...
  
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• Delhi Uber passenger who alleges driver rape sues in U.S. court

  29-01-2015 21:35 via news.yahoo.com
  
  A passenger allegedly raped by an Uber driver in India's capital sued the online car service in U.S. federal court on Thursday, claiming the company failed to maintain basic safety procedures. The financial executive, who was not named in the lawsuit, called Uber the "modern day equivalent of electronic hitchhiking" in the suit. India is Uber's largest market outside the United States by number of cities covered, and the country's radio taxi market is estimated to be wor
  
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• EU wins Greek backing to extend Russia sanctions, delays decision on new steps

  29-01-2015 21:22 via news.yahoo.com
  
  By Robin Emmott and Pavel Polityuk BRUSSELS/KIEV (Reuters) - European Union foreign ministers extended existing sanctions against Russia on Thursday, holding off on tighter economic measures for now but winning the support of the new left-leaning government of Greece, whose position had been in doubt. They also agreed to list new names that could be targeted with sanctions when they meet again on Feb. 9. The bloc's foreign policy chief said a decision on such measures would be left to EU le
  
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• French PM Valls seeks trade 'rebalance' with China

  29-01-2015 21:13 via news.yahoo.com
  
  French Prime Minister Manuel Valls on Thursday called for a "rebalance" of trade with China during his first official visit, as he sought to curry up investment in France's stalling economy. "We hope French products will have better access to the Chinese market," said the French premier after holding talks with Chinese Premier Li Keqiang at the Great Hall of the People in Beijing. France, which is struggling with weak growth and record high unemployment, imports two and
  
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• Germany's Mahle seeks to buy Delphi's Thermal business: paper

  29-01-2015 20:46
  FRANKFURT (Reuters) - Germany's Mahle has launched a takeover bid for the air conditioning business of U.S. car parts maker Delphi , business daily Handelsblatt said on Thursday without citing...
  
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• GM to suspend production at its Russian plant for two months

  29-01-2015 20:27 via news.yahoo.com
  
  General Motors Co will suspend production at its St. Petersburg auto assembly plant in Russia from mid-March to mid-May and is raising prices for its products because of the weak and volatile Russian rouble, a company spokesman said on Thursday. Russia's weak rouble and struggling economy were cited on Thursday by Ford Motor Co as major reasons the company lowered expectations for its European business in 2015. In addition, Volkswagen AG's labor chief said on Thursday the company lost
  
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• U.S. homeownership hits 20-year low, but new households growing

  29-01-2015 20:21 via news.yahoo.com
  
  U.S. homeownership fell to a 20-year low in the fourth quarter, but a sharp rebound in the rate at which Americans are setting up home is expected to help drive a pick-up in housing. Household formation, however, more than quadrupled to 1.7 million in the fourth quarter from only 356,000 in the same period in 2013. "The combination of a high share of young adults living in the parental home, falling mortgage rates and loosening credit means that the outlook for household formation is streng
  
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• Wall Street gains in choppy trading

  29-01-2015 20:20 via news.yahoo.com
  
  U.S. stocks were up in a volatile session on Thursday as oil futures pared their losses and strong job market data helped offset weak earnings reports from companies such as Alibaba and Qualcomm. The confluence of low oil prices and a strong dollar, which is hurting some companies, is distracting investors from what is actually an average earnings season, said Art Hogan, chief market strategist at Wunderlich Securities in New York. Shares in Chinese internet giant Alibaba Group dropped 9 percent
  
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• UPDATE 1-U.S. homeownership hits 20-year low, but new households growing

  29-01-2015 20:19
  WASHINGTON, Jan 29 (Reuters) - U.S. homeownership fell to a 20-year low in the fourth quarter, but a sharp rebound in the rate at which Americans are setting up home is expected to help drive a...
  
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• UPDATE 2-Lagardere enters race for Benetton's World Duty Free - sources

  29-01-2015 20:14
  * Dufry seen as strong contender - sources (Adds comment from Edizione Holding para 7)
  
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• UPDATE 3-Raytheon's revenue, margin forecasts disappoint, shares fall

  29-01-2015 20:07
  Jan 29 (Reuters) - U.S. arms maker Raytheon Co forecast 2015 revenue largely below average analyst expectations as orders fell, and said adjusted profit margins would drop further to just over 12...
  
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