Finance news

• UPDATE 2-Shake Shack shares soar, profit and sales surprisingly strong

  10-08-2015 23:56
  Aug 10 (Reuters) - Hamburger chain Shake Shack Inc, known for its indulgent hormone- and antibiotic-free burgers and sides, on Monday reported better-than-expected quarterly profit and sales, sending...
  
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• BRIEF-Novavax Inc says positive top-line data from RSV F-protein vaccine clinical trial in older adults

  10-08-2015 23:55
  * Positive top-line data from phase 2 RSV F-protein vaccine clinical trial in older adults
  
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• US STOCKS-Wall St rallies with energy, materials; Google jumps after the bell

  10-08-2015 23:46
  * Google up after closing bell, announces new operating structure
  
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• UPDATE 1-United's new unit to handle checked bags for some regional flights

  10-08-2015 23:45
  Aug 10 (Reuters) - United Airlines on Monday launched a subsidiary to handle checked bags and perform other services for its regional unit, United Express, a move in line with industry peers aimed at...
  
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• Hertz's quarterly revenue falls 5 percent

  10-08-2015 23:40
  Aug 10 (Reuters) - Car rental company Hertz Global Holdings Inc reported a 5 percent decline in quarterly revenue, hurt by the strong dollar and lower car rental volume in the United States.
  
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• LATAM WRAP-Brazil drifts higher as bargain-hunters emerge

  10-08-2015 23:40
  NEW YORK, Aug 10 (IFR) - A handful of bottom fishers were scouring for cheap Brazilian assets on Monday following last week's selloff, with some assuming that the market has already priced in a...
  
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• UPDATE 1-Shakira's hit song 'Loca' not plagiarism, U.S. judge rules

  10-08-2015 23:36
  NEW YORK, Aug 10 (Reuters) - A case in which pop star Shakira's 2010 hit single "Loca" was found to be an illegal copy of a Dominican songwriter's work came crashing down on Monday when a U.S. judge...
  
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• China property firms reap July boost, spooked investors seen seeking haven

  10-08-2015 23:00 via news.yahoo.com
  
  By Clare Jim HONG KONG, Aug 11 (Reuters) - China's big property developers saw sales jump in July, as realtors said some investors sought refuge from the mainland's $4 trillion stock market rout by pulling their money out of shares and putting it into bricks and mortar. The numbers reported by firms like China Vanke will ease concerns that investors might rush to sell property to repay stock margin calls, undermining Beijing efforts since last year to reverse a housing slowdown. Vanke, China's t
  
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• US stocks jump as oil's bounce boosts energy stocks

  10-08-2015 22:52 via news.yahoo.com
  
  NEW YORK (AP) — A resurgent energy sector and another big acquisition by Warren Buffett propelled the stock market to its best day in three months on Monday.
  
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• Envestnet to buy financial software maker Yodlee for about $560 million

  10-08-2015 22:39
  (Reuters) - Envestnet Inc , a wealth management technology provider, will buy financial software maker Yodlee Incfor about $560 million.
  
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• Video Game publisher Take-Two's adjusted profit misses, shares slip

  10-08-2015 22:37 via news.yahoo.com
  
  (Reuters) - Take-Two Interactive Software Inc's adjusted profit missed Wall Street estimates for the first time in more than two years as expenses soared 30 percent, sending its shares ...
  
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• Did Kasich Just Do an About-Face on Climate Change?

  10-08-2015 22:35 via news.yahoo.com
  
  Maybe it’s because he is still feeling his way as a late entrant into the GOP presidential campaign, but Ohio Gov. John Kasich did a fairly dramatic about-face over the weekend on the politically charged issue of climate change. Kasich, a former House Budget Committee chair and Wall Street business executive, has positioned himself as a “kinder, gentler” conservative than Jeb Bush, Ted Cruz and the dozen other Republicans running for the 2016 presidential nomination.
  
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• China and Buffett boost rally on Wall Street, oil jumps

  10-08-2015 22:24 via news.yahoo.com
  
  By Noel Randewich SAN FRANCISCO (Reuters) - Wall Street surged Monday following a multi-billion-dollar deal by Warren Buffett's Berkshire Hathaway that raised optimism over mergers and acquisitions, and weak Chinese data that boosted hopes for fresh stimulus in the world's No. 2 economy. Crude oil prices jumped as much as 3 percent after a rally in U.S. gasoline and diesel due to a refinery outage helped crude futures rebound from multi-month lows earlier in the session. All three majo
  
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• China and Buffett fuel Wall St. rally, oil rebounds

  10-08-2015 22:24 via news.yahoo.com
  
  Wall Street surged on Monday after a $37.2 billion deal by Warren Buffett's Berkshire Hathaway and weak Chinese data that boosted hopes for fresh stimulus in the world's No. 2 economy, while oil jumped almost 4 percent. All three major U.S. stock indices finished more than 1 percent higher after Berkshire Hathaway agreed to buy Precision Castparts, showing investors the M&A boom was alive and well. Mostly you see it pronounced in the cyclical sectors ... anything tied to China and
  
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• Can Gold Regain Its Shine?

  10-08-2015 22:24 via news.yahoo.com
  
  Gold has been in a persistent decline since late 2011, which is when investors last really felt a tinge of panic, brought on by the U.S. credit rating downgrade and the thought that maybe, just maybe, the U.S. Treasury would default. Fast forward four years, billions in Federal Reserve bond-buying stimulus and steady climbs in the stock market and the U.S. dollar, and the yellow metal has fallen far out of favor with investors. After dropping below $1,200 an ounce in 2013, it traded in a meander
  
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• Argentine presidential race wide open after primaries

  10-08-2015 22:15 via news.yahoo.com
  
  Argentina's presidential race was wide open on Monday and likely to be settled in a run-off vote after primaries indicated ruling party candidate Daniel Scioli did not have enough support to win outright in the first round. The prospect of a head-to-head between Scioli and his more business-friendly rival, Mauricio Macri, sent Argentine bond prices higher, with defaulted U.S. dollar discount bonds hitting a two-month high. Macri has promised to unravel swiftly outgoing President Cristina Fe
  
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• Novavax's vaccine first to protect against common respiratory virus

  10-08-2015 22:02
  Aug 10 (Reuters) - A vaccine developed by Novavax Inc was shown to prevent a common respiratory viral infection in a mid-stage study, taking it one step closer to becoming the first vaccine for the...
  
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• Shire steps up drive to get Baxalta talking after $30 billion bid

  10-08-2015 21:38
  
  LONDON (Reuters) - ShireChief Executive Flemming Ornskov is stepping up his campaign to get Baxaltato the negotiating table as he pushes the benefits a $30 billion takeover offer to the U.S....
  
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• UPDATE 1-Shire steps up drive to get Baxalta talking after $30 bln bid

  10-08-2015 21:34
  * Baxalta CEO says can get to Shire bid value on its own (Adds Baxalta CEO comments, paragraphs 4, 13 and 14)
  
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• Oil prices rise, ending three-day skid

  10-08-2015 21:17 via news.yahoo.com
  
  Oil prices rallied Monday, snapping a three-day losing streak as some analysts said the beaten-down commodity could be near a bottom. US benchmark West Texas Intermediate for delivery in September gained $1.09 at $44.96 a barrel on the New York Mercantile Exchange. "People are basically looking for a bargain," said Michael Lynch, analyst at Strategic Energy & Economic Research.
  
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• The 101 on back-to-school computer shopping

  10-08-2015 21:10
  
  NEW YORK (Reuters) - Looking to buy your kid a computer this back-to-school season?
  
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• Fed 'close' to hiking rates, economy near normal: Lockhart

  10-08-2015 20:54 via news.yahoo.com
  
  Economic conditions in the United States have largely returned to normal and a Federal Reserve decision to raise interest rates should come soon, Atlanta Fed President Dennis Lockhart said on Monday. "I think the point of 'liftoff' is close," Lockhart said in a speech to the Atlanta Press Club. "The economy has made great gains and is approaching an acceptable normal ... conditions are no longer extraordinary." He later told journalists he was "very disposed&qu
  
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• UPDATE 5-Buffett pays high price for Precision Castparts

  10-08-2015 20:35
  Aug 10 (Reuters) - Warren Buffett is paying a hefty price for the biggest bet of his career as his Berkshire Hathaway Inc has agreed to buy Precision Castparts Corp, valuing the maker of aerospace...
  
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• Fed 'close' to hiking rates, U.S. economy near normal: Lockhart

  10-08-2015 19:55 via news.yahoo.com
  
  Economic conditions in the United States have largely returned to normal and a Federal Reserve decision to raise interest rates should come soon, Atlanta Fed President Dennis Lockhart said on Monday. "I think the point of 'liftoff' is close," Lockhart said in prepared remarks for an address to the Atlanta Press Club. Lockhart, regarded as a centrist on the U.S. central bank's policy-setting committee, did not in his prepared remarks repeat recent comments in which he sai
  
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• China and Buffett boost rally on Wall St., oil jumps

  10-08-2015 19:38 via news.yahoo.com
  
  By Noel Randewich SAN FRANCISCO (Reuters) - Wall Street surged Monday following a multi-billion-dollar deal by Warren Buffett's Berkshire Hathaway that raised optimism over mergers and acquisitions, and weak Chinese data that boosted hopes for fresh stimulus in the world's No. 2 economy. Crude oil prices jumped as much as 3 percent after a rally in U.S. gasoline and diesel due to a refinery outage helped crude futures rebound from multi-month lows earlier in the session. All three majo
  
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• Freeport-McMoRan outlines $1 bln equity issue plan

  10-08-2015 19:21
  TORONTO, Aug 10 (Reuters) - Freeport-McMoRan Inc may issue up to $1 billion in common shares, the diversified miner said on Monday in a regulatory filing, a decision that highlights how sliding...
  
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• Blackstone seeks sale of facility management firm GCA: sources

  10-08-2015 19:07
  (Reuters) - Blackstone Group LPis exploring the sale of GCA Services Group Inc, in a deal that could value the provider of janitors and cleaners to schools and businesses at more than $1 billion,...
  
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• UPDATE 3-Dean Foods' shares slide on abrupt exit of chairman

  10-08-2015 18:56
  * Shares fall as much as 18 pct (Adds analyst comment, details, updates shares)
  
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• K+S says retail shareholders back rejection of Potash offer

  10-08-2015 18:53
  FRANKFURT (Reuters) - German salt and fertilizer company K+S AGsays a survey of its retail investors shows they strongly support its rejection of a 7.9 billion euros ($8.6 billion) takeover offer...
  
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• Fed 'close' to hiking rates, U.S. economy near normal - Lockhart

  10-08-2015 18:33 via news.yahoo.com
  
  Economic conditions in the United States have largely returned to normal and a Federal Reserve decision to raise interest rates should come soon, Atlanta Fed President Dennis Lockhart said on Monday. "I think the point of 'liftoff' is close," Lockhart said in prepared remarks for an address to the Atlanta Press Club. Lockhart, regarded as a centrist on the U.S. central bank's policy-setting committee, did not in his prepared remarks repeat recent comments in which he sai
  
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• New York City's 'responsible banking' law ruled unconstitutional

  10-08-2015 18:22
  NEW YORK (Reuters) - New York City's "responsible banking" law, which called for banks holding the city's over $6 billion in deposits to document how well they meet the needs of low-income...
  
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• United Capital opens two offices in South Carolina

  10-08-2015 18:18
  NEW YORK (Reuters) - United Capital Financial Advisers said Monday it hired five brokers in South Carolina who will run the firm's first two offices in the state.
  
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• China's Bohai Leasing in exclusive talks to buy Avolon for $2.64 billion

  10-08-2015 18:13
  
  LONDON (Reuters) - China's Bohai Leasing Co Ltdis in exclusive talks to buy Irish aircraft leasing firm Avolon Holdings Ltdfor $2.64 billion, after raising its offer to put it ahead of a rival...
  
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• Saudi Arabia's market regulator fines Al Tayyer Travel Group

  10-08-2015 18:11 via news.yahoo.com
  
  Saudi Arabia's stock market regulator said on Monday it has imposed two fines worth 200,000 riyals ($53,000) on Al Tayyar Travel Group for failing to disclose the extension of a contract with the Ministry of Education. Al Tayyar said in June last year its dealings with the ministry remained valid and that the company "did not receive any indication of not renewing the contract" but in March this year it said it was extending its contract from April 1, the Capital Markets Authority (CMA) said in
  
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• Wall Street rises on Berkshire deal, China stimulus hopes

  10-08-2015 18:10 via news.yahoo.com
  
  Wall Street was up about 1 percent on Monday, bouncing back sharply from last week's steep lows, buoyed by optimism around China and Greece, and as Warren Buffett's latest billion-dollar deal showed the M&A boom was alive and well. Disappointing data out of China boosted hopes for additional stimulus from Beijing, while Greece and international creditors are close to finalizing a multi-billion euro bailout accord. Buffett's Berkshire Hathaway said it would buy Precision Castpa
  
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• CVR Partners to buy Rentech Nitrogen for $533 million

  10-08-2015 18:05
  (Reuters) - Nitrogen fertilizer producer CVR Partners LPsaid on Monday it would buy Rentech Nitrogen Partners LPfor $533 million, excluding debt, as global fertilizer makers scale up at a time...
  
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• Britain's FTSE bounces off lows after mining sector turnaround

  10-08-2015 17:54 via news.yahoo.com
  
  Britain's top share index recouped early losses on Monday, following a sharp reversal in major mining stocks, which turned higher on hopes of stimulus after weak data in China. The blue-chip FTSE 100 index was up 17.73 points, or 0.3 percent, at 6,736.22 points by the close, turning higher after gains in early trade on Wall Street. Miners, which account for around a 10th of the FTSE 100 in terms of market capitalisation, recouped early losses to finish among top gainers.
  
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• UPDATE 2-CVR Partners to buy Rentech Nitrogen for $533 mln

  10-08-2015 17:53
  Aug 10 (Reuters) - Nitrogen fertilizer producer CVR Partners LP said on Monday it would buy Rentech Nitrogen Partners LP for $533 million, excluding debt, as global fertilizer makers scale up at a...
  
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• China and Buffett fuel Wall St. rally, dollar steady

  10-08-2015 17:46 via news.yahoo.com
  
  By Noel Randewich SAN FRANCISCO (Reuters) - Wall Street rallied on Monday after a major M&A deal and on weak data out of China that boosted hopes for fresh stimulus from Beijing, while expectations of a U.S. interest rate hike kept the dollar near a four-month high. All three major U.S. stock indices at one point were over 1 percent higher after a $37.2 billion deal by Warren Buffett's Berkshire Hathaway to buy Precision Castparts showed the M&A boom was alive and well. Wall Street
  
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• China and Buffett fuel Wall Street rally, dollar steady

  10-08-2015 17:45 via news.yahoo.com
  
  By Noel Randewich SAN FRANCISCO (Reuters) - Wall Street rallied on Monday after a major M&A deal and on weak data out of China that boosted hopes for fresh stimulus from Beijing, while expectations of a U.S. interest rate hike kept the dollar near a four-month high. All three major U.S. stock indices at one point were over 1 percent higher after a $37.2 billion deal by Warren Buffett's Berkshire Hathaway to buy Precision Castparts showed the M&A boom was alive and well. Wall Street
  
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• Russian banking system 'in a safe place': central bank

  10-08-2015 17:40 via news.yahoo.com
  
  Russia's central bank chief insisted Monday that the country's beleaguered banking system is out of danger after being battered by the economic crisis rocking the country. "The situation in the banking system is by and large a mirror for what is happening in the economy," bank head Elvira Nabiullina told President Vladimir Putin at a meeting. "Of course, external events have had an impact on the development of the banking system.
  
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• Russian economy shrank 4.6 percent in Q2 on lower oil prices

  10-08-2015 17:39 via news.yahoo.com
  
  MOSCOW (AP) — Official government figures show that the Russian economy was 4.6 percent smaller in the second quarter than the same quarter the previous year in the wake of plummeting oil prices and Western sanctions.
  
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• Shire CEO steps up drive to get Baxalta board talking

  10-08-2015 17:20
  LONDON, Aug 10 (Reuters) - Shire Chief Executive Flemming Ornskov is stepping up his campaign to get Baxalta to the negotiating table as he pushes the benefits a $30 billion takeover offer to the...
  
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• Buffett pays high price for Precision Castparts

  10-08-2015 17:02 via news.yahoo.com
  
  The purchase extends Berkshire's transformation from a company largely dependent on insurance businesses into one resembling the broader U.S. economy, including a railroad, several industrial companies, utilities, a car dealership and consumer goods businesses. It also joins several recent Buffett forays into unglamorous sectors, including a big stake in what is now Kraft Heinz Co and the pending takeover of the Duracell battery business from Procter & Gamble Co . "I'm not cra
  
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• UPDATE 4-Buffett pays high price for Precision Castparts

  10-08-2015 17:01
  Aug 10 (Reuters) - Warren Buffett is paying a hefty price for the biggest acquisition of his career, now that his Berkshire Hathaway Inc has agreed to buy Precision Castparts Corp in a merger valuing...
  
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• FTSE bounces off lows after mining sector turnaround

  10-08-2015 16:59 via news.yahoo.com
  
  By Alistair Smout and Liisa Tuhkanen LONDON (Reuters) - The FTSE 100 recouped early losses on Monday, as major mining stocks that had been hit by weak data from China turned higher on hopes of stimulus. The blue-chip FTSE 100 index was down just 2.69 points, flat in percentage terms, at 6,715.80 points by 1445 GMT, trimming losses after gains in early trade on Wall Street. Miners, which account for around a tenth of the FTSE 100 in terms of market capitalisation, recouped their early losses.
  
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• Brent edges up off six-month low

  10-08-2015 16:59 via news.yahoo.com
  
  Crude oil futures touched multi-month lows on Monday after a weekend of mixed data from China showing higher oil imports in July but weaker trade figures overall. China's crude oil imports rose by 4.1 percent in July from June, but this bullish news was partly offset by broader trade figures showing an 8.3 percent slump in exports, stoking fears that Chinese economic activity was slowing. Olivier Jakob, an oil analyst at Petromatrix in Switzerland, cited the fact that the supertanker Sea Ki
  
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• Argentine primaries point to presidential run-off vote; bonds climb

  10-08-2015 16:54 via news.yahoo.com
  
  Argentina's presidential election is likely to be battled out in a tight run-off vote after Sunday's party primaries indicated ruling party candidate Daniel Scioli would struggle to win outright in the first round. The prospect of a head-to-head between Scioli and his more business-friendly rival, Mauricio Macri, sent Argentine bond prices higher, with defaulted U.S. dollar discount bonds hitting a two-month high. Macri has promised to unravel swiftly outgoing President Cristina Fernan
  
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• UPDATE 3-Imtech shares tumble as German insolvency drags down company

  10-08-2015 16:33
  * Parent company reportedly not taking orders or making payments
  
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• UPDATE 1-China's Bohai Leasing in exclusive talks to buy Avolon for $2.64 bln

  10-08-2015 16:17
  LONDON, Aug 10 (Reuters) - China's Bohai Leasing Co Ltd is in exclusive talks to buy Irish aircraft leasing firm Avolon Holdings Ltd for $2.64 billion, after raising its offer to put it ahead of a...
  
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