Business
Commodities Are Mixed, Crude Oil Rose Due to Renewed Optimism
OPEC's production cuts are now focusing on mostly heavy and medium grades of crude oil, which opens the door for the U.S.to provide these commodities to countries in need, including China. Since the start of the month oil prices have gained around $2. And after the output cuts were announced , prices soard almost 20 percent. "Prices are being supported by reasonable prospects for demand growth and by the supply outlook, but any rally is capped by the potential for increased production levels, ...
Business
Interserve PLC upgraded to Hold By Peel Hunt
Other equities research analysts have also recently issued research reports about the stock. In an analyst rating update on Tuesday shares of Gemfields PLC (LON:GEM) had their rating reiterated by analysts at JP Morgan Cazenove. Shareholders of record on Thursday, May 4th will be issued a GBX 9.30 ($0.12) dividend. This represents a yield of 2.99%. This report was first posted by Chaffey Breeze and is the sole property of of Chaffey Breeze.
Business
Macy's (M) Fourth Quarter Profit Falls Almost 13 Percent
During the fourth quarter, net income fell to $475 million, or $1.54 per share, from $544 million, or $1.73 per share, a year earlier. In contrast, Wal-Mart Stores Inc (WMT.N) reported a 2.8 percent rise in USA sales in the fourth quarter, helped by higher store traffic and strong online sales.
Business
Wells Fargo Fires Four Retail Executives Over Accounts Scandal
The four firings, each effective on Tuesday, are the first made public since John Stumf resigned on October 12. Carrie Tolstedt, the former head of community banking, was also forced to forfeit millions of dollars in bonuses and unvested stock awards.
Business
Kraft Heinz Withdraws $143 Billion Bid For Unilever
While the work was in progress on this merger of two well-known companies that had sent shockwaves throughout the FMCG sector, the UK Prime Minister Theresa May ordered a scrutiny in the bid . On Sunday, Kraft Heinz's board, on which Warren E. Buffett and the Brazilian billionaire Jorge Paulo Lemann sit, made a decision to withdraw its offer for the consumer products giant.
Business
Energy Transfer Partners (ETP) Scheduled to Post Quarterly Earnings on Wednesday
The number of shares now owned by investors are 663.9 mln. Sell-side analyst recommendations point to a short term price target of $19.78 on the company shares. Analysts have a mean recommendation of 2.10 on this stock (A rating of less than 2 means buy, "hold" within the 3 range, "sell" within the 4 range, and "strong sell" within the 5 range).