By Kyle Morris Micro Focus International PLC reported results for its fiscal 2022 first half on Wednesday. Here’s what we watched: REVENUE: Revenue for the first half was $ 1.27 billion from $ 1.43 billion a year before. On a constant-currency basis, revenue fell 6.8%. Revenue was forecast at $ 1.3 billion according to one … Read more
The Food and Drug Administration is preparing to order Juul Labs Inc. to take its e-cigarettes off the US market, according to people familiar with the matter. The FDA could announce its decision as early as Wednesday, the people said. The marketing denial order would follow a nearly two-year review of data presented by the … Read more
ANKARA, Turkey — The head of Turkey’s weapons-production agency said the country must be cautious about delivering more arms to Ukraine, months after Turkish-made drones played a critical role in the defense against Russia’s invasion. “We are much more careful,” he said Ismail Demirthe president of Turkey’s Defense Industry Agency and a top official in … Read more
Text size The Charles Schwab logo is displayed in front of a Charles Schwab office in San Francisco, California. Justin Sullivan / Getty Images Charles Schwab stock has struggled over the last year, rocked by a smattering of disappointing earnings and concerns over the macroeconomic environment. But the tide could be changing for Schwab (ticker: … Read more
TPG said Tuesday it was buying Convey Health Solutions Holdings, a healthcare technology company, for $ 10.50 a share, or $ 1.1 billion. Dreamstime Text size This year’s market downturn has pummeled shares of publicly traded private equity firms, but the group, which includes TPG spirit Carlyle Group , ultimately is expected to gain from … Read more
Text size Vehicles at the Joe Myers Toyota dealership in Houston, Texas. Brandon Bell / Getty Images Toyota Motor updated its production plans, unveiling more cuts. Wednesday, Toyota (ticker: TM) reduced its forecast for July output to 800,000 vehicles from 850,000 units. Parts shortages from Covid-19 lockdowns were blamed. “We at Toyota would like to … Read more
The fundamental cause of the world’s immediate economic woes is clear enough. Crude oil prices are up more than 50% this year. That has caused gasoline prices to skyrocket and spurred consumer-price inflation to the highest levels in four decades. And in turn the Federal Reserve and other central banks are now raising interest rates … Read more
Text size Rising mortgage rates are dragging on the housing market. Justin Sullivan / Getty Images Jersey and Florida are hot. Housing in Austin and Seattle is not, according to the co-CEO of the US’s second-largest home builder. Lennar (tickers: LEN, LEN. B) noted a slowdown nationally in housing on its earnings conference call Tuesday, … Read more
Shares of Microsoft Corp. MSFT, + 2.46% rose 2.46% to $ 253.74 Tuesday, on what proved to be an all-around great trading session for the stock market, with the S&P 500 Index SPX, + 2.45% rising 2.45% to 3,764.79 and the Dow Jones Industrial Average DJIA, + 2.15% rising 2.15% to 30,530.25. This was the … Read more
Shares of Barrick Gold Corp. ABX, -1.21% slipped 1.21% to C $ 25.30 Tuesday, in what proved to be an otherwise all-around positive trading session for the Canadian market, with the S & P / TSX Composite Index GSPTSE, + 0.38% rising 0.38% to 19,257.29. Barrick Gold Corp. closed C $ 8.20 short of its … Read more