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Novo Nordisk A/S
General Electric Company
Advanced Micro Devices, Inc.
ICICI Bank Limited
Sirius XM Holdings Inc.
TAL Education Group
Rockwell Automation, Inc.
Marvell Technology Group Ltd.
Skyworks Solutions, Inc.
The Liberty SiriusXM Group
The Liberty SiriusXM Group
The Liberty SiriusXM Group
United Rentals, Inc.
Neurocrine Biosciences, Inc.
Bausch Health Companies Inc.
Xerox Holdings Corporation
Pilgrim's Pride Corporation
ACADIA Pharmaceuticals Inc.
At close to 10 billion dollars Line Corp was the biggest tech IPO of the year - when it launched on the U.S. market in 2016. It could be now be joining forces to form a tech giant worth - at a possible 27 billion dollars - nearly three times that. Discussions are underway between the messaging app operator and Z Holdings - known until last month as Yahoo Japan. The two would bring together Japan's biggest QR code payment apps Combining a potential customer base of 100 million users. If, at this point, Line's services are money-losing - and nothing has been decided, it said, regarding a merger. For its part, Z Holdings - which is nearly half owned by Softbank Corp - also disclosed it's acquired a 50.1% stake ... In fashion e-tailer Zozo - in a 3.7 billion dollar deal. Markets though took their lift from the merger talks - driving Line's shares up by 15%. And Z Holdings by nearly 17%.
TORONTO — Some of the most active companies traded Thursday on the Toronto Stock Exchange:Toronto Stock Exchange (16,972.18, up 14.19 points.)Aurora Cannabis Inc. (TSX:ACB). Health care. Down 31 cents, or 6.61 per cent, to $4.38 on 8.2 million shares.Manulife Financial Corp. (TSX:MFC). Financials. Unchanged at $26.26 on 7 million shares.Canopy Growth Corp. (TSX:WEED). Health care. Down $3.49 or 14.27 per cent, to $20.96 on 5.5 million shares.The Green Organic Dutchman Holdings. (TSX:TGOD). Health care. Down nine cents, or 9.78 per cent, to 83 cents on 5.5 million shares.Encana Corp. (TSX:ECA). Energy. Down 11 cents, or 1.88 per cent, to $5.75 on 4.7 million shares.Enbridge Inc. (TSX:ENB). Energy. Down $1.37 or 2.67 per cent, to $50.00 on 4 million shares. Companies in the news:Cineplex Inc. (TSX:CGX). Up $1.22 or 5.3 per cent to $24.32. Cineplex Inc. shares rose after the company reported record high revenue for its third quarter and outperformed analyst expectations, helped by a strong film slate including "The Lion King" and "Spider-Man: Far From Home." Cineplex reported Thursday that its third-quarter profit rose to $13.4 million from $10.2 million a year earlier. Revenue grew 8.3 per cent to a record $418.4 million as theatre attendance increased 1.8 per cent due to what Cineplex called a stronger film slate compared with last year. In addition to The Lion King and Spider-Man, Cineplex attributed the strength to films such as "Fast & Furious Presents: Hobbs & Shaw," "It Chapter Two" and "Once Upon a Time in Hollywood."Freshii Inc. (TSX:FRII). Down one cent to $2.70. Freshii Inc. continued to see traffic to its health-food eateries fall during its most recent quarter, but the company believes upcoming initiatives including a loyalty program can win over consumers. Same-store sales, a key retail metric, fell 3.7 per cent for the quarter ended Sept. 29. CEO Matthew Corrin said the company's current program, which focuses on offering limited-time menu items, isn't driving new traffic. Freshii's digital marketing campaigns and other initiatives expected to roll out next year will look to lure new customers into its stores, he said.Canopy Growth Corp. — Canopy Growth Corp.'s share price hit a 2019 low Thursday after the Canadian cannabis producer posted a $374.6-million quarterly loss, missed analyst revenue estimates and warned that a key revenue target may not be achieved. The company announced that second-quarter net revenue totalled $76.6 million, which was down 15 per cent from the prior quarter and below an average estimate of $107 million compiled by financial markets data firm Refinitiv. Interim chief executive Mark Zekulin also told analysts during a conference call that his previous projection of $250 million in revenue for the company's fourth quarter, ending in March, "is increasingly unlikely."Chorus Aviation Inc. (TSX:CHR). Up five cents to $8.20. Chorus Aviation Inc. reported a profit of $24.2 million in its latest quarter as revenue increased 2.8 per cent compared with a year ago. The regional aircraft company says the profit amounted to 15 cents per share for the quarter ended Sept. 30, weighed down by a $7.1-million loss on foreign exchange. The result compared with a profit of $43.6 million or 31 cents per share a year ago when it benefited from an $11.3-million gain on foreign exchange. Operating revenue totalled nearly $351.5 million, up from $342 million.This report by The Canadian Press was first published Nov. 14, 2019. The Canadian Press
(Bloomberg) -- Nvidia Corp. reported quarterly sales that topped analysts’ estimates, but the chipmaker gave a tepid forecast that suggests demand for gaming graphics chips is recovering slower than predicted.Revenue in the fiscal third quarter was $3.01 billion and profit excluding certain costs was $1.78 a share, the company said. Wall Street was looking for earnings of $1.57 a share on sales of $2.9 billion, according to data compiled by Bloomberg.Revenue in the fiscal fourth quarter will be $2.95 billion, plus or minus 2%, the Santa Clara, California-based company said in a statement Thursday. That compares with an average analyst estimate of $3.1 billion. Gross margin, or the percentage of sales remaining after deducting the cost of production, will be 64%, plus or minus 50 basis points.Nivdia said it expects "strong sequential growth" in its data center chip business, offset by a seasonal decline in sales of GeForce notebook graphics chips and other components for gaming systems.Nvidia shares rose 1% extended trading following the report. Earlier, they closed at $209.79 in New York.Chief Executive Officer Jensen Huang has almost doubled the market value of Nvidia since 2017 by finding new customers for gaming chips. But the majority of sales still comes from that market. The use of graphics chips to speed up artificial intelligence software in data centers has been the biggest driver of new growth.Before Thursday’s results, Nvidia had posted three straight quarters of declining revenue as customers accumulated unused chips and didn’t need to buy as many new ones.Nvidia’s GeForce chips are particularly popular with serious video-game players who will spend more than the price of a laptop on just one component for their machines. That has helped Nvidia dominate this profitable market. This year, Advanced Micro Devices Inc. introduced new chips -- particularly for more affordable systems -- that are more competitive.In data centers, while Huang’s company pioneered the use of accelerators to help with AI work, other companies have designed rival components, including the owners of data centers themselves, such as Google.To contact the reporter on this story: Ian King in San Francisco at firstname.lastname@example.orgTo contact the editors responsible for this story: Jillian Ward at email@example.com, Alistair Barr, Molly SchuetzFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
In the recent series of record highs, the S&P 500 crossed the 3,100 level for the first time ever. We have highlighted 10 best performing stocks in ETF that tracks this index.
Eli Lilly (LLY) gets an unfavorable FDA panel vote to expand the label of its type II diabetes medicine Jardiance (2.5 mg) for type I diabetes.
Ericsson (ERIC) and MTN South Africa intend to work together to develop 5G use cases and applications that will contribute to the digital transformation of industry verticals.
General Electric's (GE) advanced 2 MW turbines will help ENGIE North America in providing clean and renewable energy in Oklahoma and South Dakota.
(Bloomberg) -- Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. Foreign companies continue to invest more in China even after President Donald Trump called on U.S. firms to look elsewhere, as the rising spending power of 1.4 billion people proves too hard to resist.Companies from Tesla Inc. to Walmart Inc. are expanding operations in the world’s second-biggest economy, joined by counterparts from Korea, Japan and Europe. That’s helping offset the departure of goods manufacturers that have had to rethink supply chains after U.S. tariffs made their products more expensive.Foreign direct investment into China rose nearly 3% in the first nine months of 2019 from a year earlier, according to the Ministry of Commerce, the same pace as 2018’s increase. While the U.S. outstripped that increase last year, investment has dropped off since Trump became president.“Multinational firms are now more likely to invest in China since serving the market from abroad will be risky given the mutual trade barriers that have been erected and the fact that any truce in the trade war is likely to be only temporary,” said David Dollar, a senior fellow at the Brookings Institution in Washington.Almost 75% of China’s inbound investment is now into services, utilities and other sectors aimed at the domestic market, said Dollar, a former U.S. Treasury attache in Beijing. If anything, the trade war is encouraging companies to ensure they have a China base, he said.That’s the opposite of what President Trump has pushed for: in August the president tweeted that U.S. companies should “immediately start looking for an alternative to China.”“If you go to major U.S. companies and say, ‘well the politics in D.C. says we have to decouple so you are going to leave the China market,’ they would say ‘no we can’t because the prize is too big’,” Arthur Kroeber, head of research at Gavekal said in a presentation in Hong Kong this month.One complication in analyzing the trend is the difficulty in determining how much of the spending represents real investment, and how much is Chinese companies moving money offshore and then bringing it back to the mainland. Some three quarters of China’s FDI in 2018 came from Hong Kong, the British Virgin Islands or the Cayman Islands, which a recent International Monetary Fund report called sources of “phantom FDI.”EV BoomYet there’s also plenty of news demonstrating the big bet on China’s consumer. Tesla is eyeing mass production out of its first factory outside the U.S. in a plant near Shanghai for which the automaker has received as much as $521 million in loans from Chinese banks. Such spending generates a hive of activity right along the supply chain.LG Chem Ltd., the world’s second-biggest manufacturer of lithium-ion battery cells and said to be one of Tesla’s initial suppliers for its made-in-China Model 3 cars, said in October it plans to invest about $430 million in its Chinese business. In June, it teamed up with Geely Automobile Holdings Ltd. on a joint venture to produce electronic vehicle batteries.“China is a focal point for our battery investment,” spokesman Yoo Won Jae said in an interview this month.Economic BoostSuch inflows could help put a floor under an overall slowdown in investment, helping China hit its jobs targets even as the economy grows at its slowest rate in decades.Among other recent announcements:General Electric Co.’s GE Renewable Energy announced in July investments for undisclosed amounts in a new offshore wind factory and operation and development centerBASF SE in January signed a framework agreement with the government of Guangdong Province for a $10 billion manufacturing complex. In a first for a foreign chemical maker, BASF received permission to own 100% of the project rather than work with a local partnersWalmart in July said it will spend 8 billion yuan ($1.1 billion) on distribution centers in ChinaTrade war or not, the lure of 1.4 billion people can’t be ignored, AstraZeneca Plc Chief Executive Officer Pascal Soriot said in an interview at the second annual China International Import Expo in Shanghai. “We have to invest more in China.”Chinese investors have received a frosty reception in the U.S. By contrast, American companies are still being welcomed in China, according to Ker Gibbs, president of the American Chamber of Commerce in Shanghai.“At the provincial and municipal level, we sense an even heightened degree of enthusiasm for foreign investments,” he said. “They are very much courting us.”\--With assistance from Heesu Lee, Dong Lyu and James Mayger.To contact the reporters on this story: Bruce Einhorn in Hong Kong at firstname.lastname@example.org;Enda Curran in Hong Kong at email@example.comTo contact the editors responsible for this story: Malcolm Scott at firstname.lastname@example.org, ;Emma O'Brien at email@example.com, Bruce Einhorn, James MaygerFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
PCTEL's (PCTI) expanded capabilities enable it to combine sensors, edge computing, antennas and transceivers into ruggedized solutions for the industrial IoT market.
American Outdoor Brands to Split With Smith & Wesson American Outdoor Brands (NASDAQ:AOBC) will be separating its gun business, run by Smith & Wesson, from its other outdoor products and accessories business, citing a change in the political climate. The split will be completed by the second half of 2020, just before any Democratic challenger […]The post Market Morning: Smith & Wesson To Split Off, Impeachment, Trade Chatter, Facebook Lowers Grades appeared first on Market Exclusive.
(Bloomberg) -- Motorola is rebooting the iconic Razr flip phone as a 6.2-inch smartphone with a foldable display that gives the Lenovo-owned brand a unique selling point against Apple Inc. and Samsung Electronics Co.’s finest.The new device reprises the Motorola Razr name and looks like a modernized version of the original. It costs $1,499 and will be available for pre-order in December in Europe and as a Verizon exclusive in the U.S., ahead of its retail arrival in January. For Lenovo Group Ltd., which has a tiny fraction of the global smartphone market, it's an effort to build brand awareness in the U.S. via a halo device.Launched in late 2004, the first Razr became a cultural icon in the U.S., sold 130 million units and was the face of the phone industry before Apple launched the iPhone in 2007. Motorola’s new model has a shot at some fame as well, as it’s set to become the first true foldable phone on the market — every other device so far could more properly be described as a foldable tablet — and company executives have told Bloomberg they are confident that their design won’t succumb to the durability issues that pushed back Samsung’s Galaxy Fold launch.The 2019 Razr is no bargain, but compared to the $1,980 Galaxy Fold or Huawei Technologies Co.’s $2,600 Mate X, it’s the most affordable member of the most expensive modern phone category. The compromise that users will have to accept with the Razr is in some of its specifications: it has a small battery at 2,510mAh and runs the older Android 9 Pie operating system on Qualcomm’s sub-flagship Snapdragon 710 chip. It lacks the 5G option and bountiful memory of its rivals. Aside from the U.S. and Europe, it’ll also be on sale in Latin America, Asia and Australia.Motorola President Sergio Buniac said he doesn’t see the launch as a “silver bullet” for rocketing Motorola’s sales up to Apple and Samsung numbers. Over the past several quarters, Motorola has turned its mobile business from a flailing unit of China’s Lenovo to profitability in many markets, he said. The new Razr is intended to continue that even without strong sales. Buniac said he’s hoping for “a little bit more” demand than supply, while Lenovo Chief Operating Officer Gianfranco Lanci said “it will bring greater awareness to the brand, especially in key markets like North America.”Motorola’s take on foldable phone design is markedly different to the first batch of foldable devices. Instead of a vertical hinge that makes it open like a book, the new Razr opens and closes like a classic flip phone. Closed shut, the phone is a square that’s about half the size of an iPhone 11 Pro Max, and Motorola has used the foldable technology to make one of the most portable phones on the market. In the process, it’s brought back the action of flipping the phone shut to hang up calls, which is something most premium smartphone consumers haven’t done in at least a decade.Samsung is planning to introduce its own square-shaped foldable phone as its second Galaxy Fold device early next year. Until that time, Motorola looks set to be all alone in offering a regular smartphone capable of collapsing into a pocket-friendly clamshell.“We wouldn’t be bringing the product to market if we didn’t think it was ready,” said Buniac, underlining Motorola’s belief in the reliability of its particular hinge and fold design. Samsung’s Galaxy Fold had issues with air bubbles popping up beneath the display and tiny particles getting trapped under the screen. Touting a so-called zero-gap design, Buniac said “Our expectation is that we will have a reliable product, and as we launch you will see, but we are confident in what we achieved.”In a brief hands-on test with the Razr, the handset felt and looked impressive. Its screen felt fragile, but the device’s design chief Ruben Castano said “We feel like we’ve really developed a robust solution,” pointing to stainless steel structural plates between the bottom of the inner screen and the device’s internals. He says that layer will help prevent particles like sand from going into the device’s electronics and breaking the display. There’s also a 2.7-inch exterior touchscreen for quick access to commonly used functions and checking notifications.Similar to Samsung, Motorola will offer 24-hour turnaround replacements under a standard warranty for display failures, and it will charge $299 if the issue falls out of warranty in the U.S. The phone will be sold via Verizon Wireless as the exclusive launch carrier in the U.S. and will be available at Verizon and Walmart stores from January.The Razr’s inner display appeared impressive with a high-resolution panel whose crease was more subtle than the one on the Galaxy Fold. When unfolded, the Razr operates like most other Android phones, running a full touchscreen version of Google’s operating system. The external screen is designed for light interactions like answering calls and texts, but like the front screen on the Galaxy Fold, it’s not something most consumers are likely to use much. The new Razr is a flip phone at heart and that’s how most people will want to use it.Castano said that Motorola started working on a foldable design around 2015 and that its biggest challenge was being able to match the first Razr’s ability for the phone to be fully shut with no gap. Like the original Razr, the 2019 model has a chin at the bottom that houses electronics such as the LTE antenna. it also has a notch at the top of the main display, lacks a headphone jack, and will be available only in black and with 128GB of storage without further upgrade options. Its camera and battery specs are underwhelming, though Motorola promises “all-day battery life” without quoting an exact number of hours.Motorola’s other big task will be to prove itself at the super premium end of the market that’s long been dominated by Samsung and Apple. Since the first Razr, the Motorola brand has worn many hats, having served as a middling iPhone counter with the Verizon Droid, gone through a $12.5 billion Google acquisition and eventually ended up in the hands of Lenovo. It now needs to rebuild its own brand identity.But the Razr’s shortcomings may very well not matter. This device is designed to appeal to those nostalgic for the flip phone era, for whom specs may not be a priority, as well as the early adopters of new technology, who are more tolerant of first-generation imperfections. To contact the author of this story: Mark Gurman in Los Angeles at firstname.lastname@example.orgTo contact the editor responsible for this story: Vlad Savov at email@example.comFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Icahn, who owns a 10.6% stake in Xerox, disclosed a stake of 62.9 million shares of HP valued at $1.19 billion (£929.98 million) as of Sept. 30, in an SEC filing on Thursday. An HP spokesperson told Reuters the company is aware of Icahn's investment and is committed to doing what is in the best interests of all HP shareholders. Xerox made a roughly $33 billion cash-and-stock offer for HP, a company more than three times Xerox's size, Reuters reported last week.
Nov 13 (Reuters) - Activist investor Carl Icahn is pushing for the proposed merger of Xerox Corp and HP Inc , arguing that a union of the printer makers could make big profits for investors, the Wall Street Journal reported on Wednesday.
(Bloomberg) -- SoftBank Group Corp. is considering a plan to consolidate its Yahoo Japan internet business with the messaging service Line Corp.Z Holdings Corp., a unit of SoftBank’s telecom arm formerly known as Yahoo Japan, confirmed that it’s in talks with Tokyo-based Line about a possible merger, but said no final decision on a deal had been made. Line separately said it is considering such a merger along with other opportunities to increase value. Z Holdings shares surged in Tokyo, while Line’s stock was poised to climb.SoftBank Corp., the domestic telecom arm of Masayoshi Son’s business empire, holds a 44% stake in Z Holdings, while Line is controlled by South Korea’s Naver Corp. SoftBank Corp. is considering setting up a new company with Naver, according to people familiar with the matter who asked not to be identified because the talks are private. They may reach an agreement as early as this month, one of the people said.SoftBank and Line have increasingly competed in fields such as digital payments, and an alliance may allow them to save money on expenses like subsidies. Both companies have also been investing in artificial intelligence to improve their services. Line initiated the talks this summer and is looking for the partnership to give it a fighting chance in AI against larger rivals in the U.S. and China, according to a person familiar with the matter.“We can expect synergy benefits for its payment business and e-commerce operations,” said Taketo Yamate, senior analyst at Frontier Management Inc., a Japanese M&A advisory boutique.Japan’s biggest messaging service would become a wholly-owned subsidiary, but will retain a separate brand, the person said, asking not to be identified because the details are private.Z Holdings shares rose as much as 18% in Tokyo on Thursday, the biggest intraday jump since 2013. SoftBank Corp. rose as much as 2.6%, while Naver jumped as much as 12% in Seoul, most since 2008. Line was set to gain about 14% and hadn’t traded yet as of 10:30 a.m.SoftBank Group’s founder Son has relied on earnings from the telecom operations in Japan to finance his investments in technology companies overseas. But profits in the business may come under pressure from the entry of e-commerce giant Rakuten Inc. planned for next year. Son has pushed the company to go “beyond carrier” operations, strengthening its alliance with Yahoo Japan, acquiring online clothing retailer Zozo Inc. and launching a mobile payments service PayPay. Rakuten slumped as much as 6.4% on Thursday.The merger will have an immediate impact by ending a costly mobile payments rivalry between Line Pay and PayPay, Bloomberg Intelligence analyst Vey-Sern Ling wrote in a note. Both companies have seen their profit margin slip because of aggressive spending on user acquisition, he said.Yahoo Japan was once the country’s leading search engine, web portal and major e-commerce player, but has lost ground as users migrated from PCs to smartphones. Line’s app not only counts 82 million monthly active users in Japan, but is also the dominant messenger in Taiwan and Thailand, where it has 21 million and 45 million customers respectively. The company has also been expanding into financial services by partnering with Nomura Holdings Inc. and Mizuho Financial Group Inc., a move that puts it in direct conflict with Rakuten, which operates a bank and a rival mobile payment system.“There is a possibility of synergies that go beyond what’s obvious,” said Makoto Kikuchi, chief investment officer at Myojo Asset Management Co. in Tokyo. “There is considerable potential here, but neither company has a track record pulling something like this off.”Story Link: SoftBank’s Z Holdings and Line in Final Talks to Merge: Nikkei(Updates with merger details in seventh paragraph.)\--With assistance from Yuki Furukawa.To contact the reporters on this story: Takahiko Hyuga in Tokyo at firstname.lastname@example.org;Pavel Alpeyev in Tokyo at email@example.comTo contact the editor responsible for this story: Peter Elstrom at firstname.lastname@example.orgFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
SoftBank's Yahoo Japan is in talks to merge with messaging app operator Line Corp to create a $27 billion (£21.10 billion) tech giant and help the Japanese conglomerate expand e-commerce and payments services. Yahoo Japan, which last month changed its name to Z Holdings , said on Thursday discussions were underway with Line but nothing had been decided. SoftBank Corp , which owns almost half of Z Holdings, also acknowledged the talks.