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Analysis: Exchanges, retail brokers, say they are ready for any post-U.S. election volatility

NEW YORK (Reuters) – Exchanges and retail brokers, under scrutiny after recent outages within their industries, have spent months planning for Election Day. Now their preparations, for what could be a highly volatile trading period, are about to be put to the test. Earlier this month, glitches at Euronext (PA:ENX) impacted trading in several European countries and […]

Ford To Unveil All-Electric Transit Cargo Van Next Month

(Benzinga.com) – Ford Motor Company F will unveil an all-electric Transit van for global markets next month. What Happened: The company’s CEO James Farley, during the company’s earnings call on Wednesday, called the Transit and F-150 truck as the “ two most important, highest-volume commercial vehicles in our industry.” The executive said that the automaker’s electric transit would be revealed next […]

Visa’s deal to buy fintech startup Plaid faces antitrust scrutiny

(Reuters) – Payment processor Visa Inc ‘s (N:V) $5.3 billion deal to buy fintech startup Plaid Inc is facing antitrust scrutiny at the U.S. Justice Department, which filed a petition with a court on Tuesday demanding more information about the business. The Justice Department is reviewing the proposed transaction to determine if it is in […]

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Insurance firm Equitable inks $12 billion reinsurance deal with Venerable

(Reuters) – Equitable Holdings Inc (N:EQH) said on Tuesday it has entered into an agreement with Venerable Holdings Inc to reinsure about $12 billion in annuities, which will help the insurance firm to return capital to its shareholders.  Venerable, a privately held company, will reinsure legacy variable annuity policies sold between 2006 and 2008 under […]

Harley-Davidson is getting into the electric bicycle business

(techcrunch) – Harley-Davidson has spun out a new business dedicated to electric bicycles and plans to bring its first line of products to market in spring 2021. The new business called Serial 1 Cycle Company started as a project within the motorcycle manufacturer’s product development center. The name comes from “Serial Number One,” the nickname for […]

To Save the Planet, Get More EVs in Used Car Lots

(wired.com) – ELECTRIC VEHICLES ARE getting more popular. Now they’re getting flashy too: new electric pickup trucks, new electric semis, new electric sports cars, a new electric G-Wagen. But all that zippy sexiness only matters to a small slice of the US. Seventy percent of the vehicles sold in the country last year were used, […]

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AMD to buy chip peer Xilinx for $35 billion in data center push

Oct 27 (Reuters) – Semiconductor designer Advanced Micro Devices Inc (AMD) on Tuesday said it has agreed buy Xilinx Inc in a $35 billion all-stock deal that will intensify its battle with Intel Corp in the data center chip market. The deal, which AMD expects to close at the end of 2021, would create a […]

Big Tech earnings approach under antitrust cloud

(Reuters) – Apple (O:AAPL), Alphabet (O:GOOGL), Amazon (O:AMZN) and Facebook (O:FB), together accounting for about a fifth of the S&P 500’s total value, report their quarterly results on Thursday, with their stocks trading near record highs, even as they face increasing antitrust scrutiny. Amazon and Apple have surged 74% and 57%, respectively, this year, far […]

South Korea pension fund to oppose LG Chem battery spin-off plan

SEOUL (Reuters) – South Korea’s National Pension Service (NPS) will oppose LG Chem’s (KS:051910) plan to separate its battery business into a new company, the NPS said on Tuesday.  It cited concerns about damage to shareholder value, including the possibility of diluting the equity value.  LG Chem said in a statement that it very much […]

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Bayer to acquire AskBio in foray into gene therapy worth up to $4 billion

(Reuters) – Bayer (OTC:BAYRY) agreed to acquire unlisted U.S. biotech firm Asklepios BioPharmaceutical Inc for as much as $4 billion in a bet on gene therapy with the help of modified viruses. Germany’s Bayer will pay $2 billion upfront and up to an additional $2 billion in milestone payments contingent on development achievements, it said […]

American Airlines, Southwest post deep losses and renew calls for aid

(Reuters) – American Airlines (O:AAL) and Southwest Airlines (N:LUV) each reported deep losses in the third quarter on Thursday, but said they would burn less cash in the months to come as leisure bookings show signs of recovery from this year’s coronavirus-driven collapse. They warned, however, that passenger traffic would remain fragile until a COVID-19 […]

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Can PayPal Stock Live Up to the Q3 Hype? Analyst Weighs In

(TipRanks) – The adoption of e-commerce and rise of digital payments have been some of 2020’s key trends. PayPal (PYPL) has been one of the prime beneficiaries. The evidence was clear to see in its Q2 performance – PayPal’s strongest quarter since becoming an independent public company. The market has rewarded the performance, and shares […]

Stocks Drop, Dollar Gains on Election Interference: Markets Wrap

(Bloomberg) — U.S. and European equity futures retreated with Asian shares, and the dollar edged higher, after a top American intelligence official said that Russia and Iran have attempted to interfere in next month’s presidential election. S&P 500 contracts dropped, and shares in Hong Kong and Sydney saw modest losses. Treasury yields dipped, though remained […]

Facebook Rolls Out Dating Service In Europe Amid High Regulatory Scrutiny

(Benzinga) – Facebook Inc FB 4.17% said Wednesday that it was expanding its dating service to Europe, already available in 20 countries outside the continent — including the United States. What Happened: The opt-in service lets members find “meaningful relationships” based on common interests, events and groups, according to a Facebook statement. The dating service of the Mark Zuckerberg-led company […]

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AstraZeneca Could Resume US COVID-19 Vaccine Trial This Week As FDA Review Complete: Report

(Benzinga) – The U.S. Food and Drug Administration (FDA) has completed a review of adverse events observed in participants of AstraZeneca Plc’s (NASDAQ: AZN) COVID-19 vaccine clinical trial, according to Reuters. What Happened: The U.S. trial of the British company’s vaccine candidate could resume as soon as this week, people familiar with the matter told Reuters. It remains unclear how […]

Why is Logitech Rallying After Earnings

Logitech International SA (NASDAQ: LOGI) beat top and bottom-line expectations in the fiscal second quarter of 2021, Monday overnight. President and CEO Bracken Darrell believes that the adoption of remote work culture coupled with the booming esports markets will be crucial factors that could positively affect the company’s performance in the short and long-term. Key Highlights For The Quarter: […]

P&G raises forecasts as cleaning product sales boom

(Reuters) – Consumer goods giant Procter & Gamble Co raised its annual sales forecast on Tuesday, as it benefitted from a coronavirus-driven surge in demand which has driven sales of cleaning products as much as 30% higher. The company’s shares, already up 14% this year, rose almost 2% in early deals after it released numbers […]

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Dave & Buster’s Seeks Liquidity From $500 Million Junk Bond Sale

(Bloomberg) — Dave & Buster’s Entertainment Inc., the chain that features sports bars and arcade games, launched a junk bond sale Monday that would give the company more liquidity and provide relief from Covid-19 pressures. The company is looking to borrow $500 million through the five-year secured note offering. Proceeds will repay a term loan […]

Danone Plans Biggest Shakeup in Years With Full Portfolio Review

(Bloomberg) — Danone is reviewing its entire portfolio for underperforming assets in Chief Executive Officer Emmanuel Faber’s biggest shakeup of the French yogurt maker, whose shares are languishing near a six-year low. The company is putting the Vega protein powder brand up for sale as well as a unit in Argentina, getting rid of businesses […]

European shares propped up by upbeat earnings

(Reuters) – European stocks rose in early trading on Monday as strong earnings updates from Dutch firm Philips and Swiss wealth manager Julius Baer overshadowed worries about fresh coronavirus restrictions across the continent. The pan-European STOXX 600 index (STOXX) rose 0.8% by 0711 GMT, resuming gains after posting small weekly losses. With European third-quarter earnings set to […]

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Altice USA’s $8.4B Sweetened Takeover Bid Not Sweet Enough For Cogeco Owners

(Benzinga) — Canadian telecom firm Cogeco Communications Inc’s (OTC: CGEAF) owners — the Audet family — rejected an enhanced hostile takeover attempt by Altice USA, Inc (NYSE: ATUS) on Sunday. What Happened: Louis Audet, the executive chairman of Cogeco, in a statement said that the family isn’t interested in the $8.4 billion hostile bid made by Altice. Audet claimed that this is “not a negotiating strategy, but […]

Ant Group gets Chinese nod for Hong Kong leg of $35 billion dual listing: sources

HONG KONG (Reuters) – Ant Group Co Ltd has received approval from China’s securities regulator for the Hong Kong leg of its roughly $35 billion dual listing, two people with knowledge of the matter told Reuters on Monday. The Chinese financial technology firm plans to list in Hong Kong and on Shanghai’s STAR Market simultaneously […]

NASA funds Nokia plan to provide cellular service on moon

(UPI) — NASA will fund a project by Nokia to build a 4G cellular communication network on the moon with $14.1 million, the space agency announced. That project was part of $370 million in new contracts for lunar surface research missions NASA announced Wednesday. Most of the money went to large space companies like SpaceX and United Launch […]

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Ignore the Vaccine Noise, Johnson & Johnson Is in Rude Health, Says Top Analyst

(Tip Ranks) – It has been an action-packed week so far for pharma giant Johnson & Johnson (JNJ). On Tuesday, the company reported Q3 earnings with results handily beating the estimates. JNJ posted revenue of $21.08 billion, a 1.7% year-over-year increase and higher than the $20.21 billion consensus estimate. Non-GAAP EPS of $2.20 beat the […]

Nikola CEO Says Startup’s Plans Intact Even If GM Deal Unravels

(Bloomberg) — Nikola Corp.’s chief executive officer sees a path ahead for his company even if the embattled electric-truck startup is unable to come to terms with General Motors Co. on a proposed strategic partnership. Talks between the two companies are ongoing, but if a tentative technology-sharing and manufacturing deal announced last month falls apart, […]

Ford’s third-quarter China car sales rise 25% year-on-year to 164,352 units

BEIJING (Reuters) – Ford Motor Co (N:F) said on Friday that its China vehicle sales rose 25% between July and September this year from a year earlier to 164,352 units. The Dearborn, Michigan-based company said in a statement that the sales rise was driven by its new product launches and localisation strategy