Author: publisher
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Yahoo results edge past estimates in good sign for sale of business
By Deborah M. Todd San Francisco (Reuters) – Yahoo Inc's first-quarter results beat Wall Street estimates by a hair on Tuesday in what was taken as a good sign for the web pioneer's plan to auction its core business. Under pressure from activist shareholder Starboard Value LP and others, Yahoo has ramped up a sale…
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Wall Street pauses after mid-week rally
(Reuters) – Wall Street was slightly lower on Friday as investors digested U.S. corporate earnings as well as data that pointed to a slow global economic recovery, ahead of a crucial meeting of oil producers to help tackle a global surplus.
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Wells Fargo admits deception in $1.2 billion U.S. mortgage accord
The settlement with Wells Fargo, the largest U.S. mortgage lender and third-largest U.S. bank by assets, was filed on Friday in Manhattan federal court. It also resolves claims against Kurt Lofrano, a former Wells Fargo vice president.
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Yellen, alongside Fed alum, says rate hikes on track
The U.S. economy is on a solid course with some hints of inflation so the Federal Reserve is on track for further interest rate hikes, Federal Reserve Chair Janet Yellen said on Thursday in a defense of her decision to tighten policy late last year. In a rare spectacle, Yellen spoke on a New York…
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Wall Street pushed higher by healthcare, energy stocks
The collapse of the $160 billion merger of Pfizer and Allergan bolstered the healthcare sector on rising hopes that the pharmaceutical giants could turn to smaller targets. A seven-week rally – sparked by rising oil, strength in the economy and a cautious Fed – helped stocks recover from a steep selloff that had sent the…
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Wall Street slightly lower as crude oil slips
U.S. crude fell about 1 percent after a report from the American Petroleum Institute (API) showed that an increase in crude stockpiles was way above estimates. Wall Street closed sharply higher on Tuesday, helping the S&P 500 claw back most of its losses in the last two months. “The market got severely overbought yesterday,” said…
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Wall Street weighed down by energy stocks
Oil prices fell more than 5 percent on concerns of oversupply after news that Iraq's output reached a record last month. Wall Street is coming off its first week of gains in the year, with the three major indexes posting solid increases on Friday. During the poor start for the year for U.S. stocks, their…
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Wall Street rally stamps exclamation point on volatile week
A 4.3-percent jump in the S&P energy sector laid the foundation for the S&P 500's strongest session so far this year. After dropping earlier this week to 2014 lows, the S&P 500 has recovered in the past two sessions to end the week 1.4-percent higher. The Dow Jones industrial average rallied 1.33 percent to finish…
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Wall Street up on optimism from China data, bank earnings
China's 2015 growth hit 6.9 percent after the fourth quarter slowed to 6.8 percent, capping a tumultuous year in which concerns about Beijing ability to rebalance the slowing economy have rattled investors across markets. “By no means is this indicative of the worst is over,” said Andre Bakhos, managing director at Janlyn Capital in Bernardsville,…