Breaking Stock Market and Financial News

Trump may signal support for Michigan Republican as next party chair

Top Reuters News - Fri, 12/09/2016 - 07:06
NEW YORK/WASHINGTON (Reuters) - Michigan Republican Party Chair Ronna Romney McDaniel has emerged as the consensus favorite to head the party with President-elect Donald Trump headed to Michigan on Friday as part of his post-election "thank you" tour.

Syrian government forces press attack in east Aleppo

Top Reuters News - Fri, 12/09/2016 - 07:05
ALEPPO/BEIRUT (Reuters) - Syrian government forces pressed an offensive in Aleppo on Thursday night and into Friday with ground fighting and air strikes, Reuters witnesses, rebels and a monitoring group said, part of a push to retake all of the city's besieged rebel-held east.

Russia's Lukoil says ready to take part in oil output cuts

Reuters Us Markets - Fri, 12/09/2016 - 07:03
MOSCOW, Dec 9 (Reuters) - Russia's No.2 oil producer Lukoil said on Friday it was ready to follow Russia's commitments to oil output cuts as part of a global pact.

Vail Resorts loss widens more than expected

MarketWatch Market Pulse - Fri, 12/09/2016 - 07:03

Vail Resorts Inc. reported a wider-than-expected fiscal first-quarter loss and revenue that missed forecasts, but raised its full-year outlook for a measure of cash flow. Losses for the quarter to Oct. 31 widened to $62.6 million, or $1.70 a share, from $59.6 million, or $1.63 a share, in the same period a year ago. The FactSet consensus for losses per share was $1.57. Revenue rose to $178.3 million from $174.6 million, but below the FactSet consensus of $183.5 million, as misses in lodging and real estate sales offset a beat in mountain sales. The company now expects fiscal 2017 earnings before interest, taxes, depreciation and amortization (EBITDA) of $567 million to $597 million, up from previous guidance of $482 million to $518 million. "Our first fiscal quarter historically operates at a loss given that our North American mountain resorts are not open for ski operations during the period," said Chief Executive Rob Katz. "Lodging bookings for the rest of the season are trending slightly ahead of last year at our U.S. resorts. Based on historical averages, less than 50% of the bookings for the winter season have been made by this time." The stock, which was still inactive in premarket trade, has climbed 26% year to date, while the S&P 500 has gained 9.9%.

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SBI to sell $266 mln stake in life insurance arm to KKR, Temasek

Reuters Us Markets - Fri, 12/09/2016 - 07:02
MUMBAI, Dec 9 (Reuters) - State Bank of India has agreed to sell a 3.9 percent stake in its life insurance arm to affiliates of KKR and Temasek for 17.94 billion rupees ($266 million), the nation's...

BRIEF-PPG Industries says initiates global restructuring, targets $125 mln in annual savings

Reuters Us Markets - Fri, 12/09/2016 - 07:02
* PPG Industries Inc - will take pretax charge of $190 million to $200 million in Q4 2016 due to restructuring

UPDATE 1-Brazil's inflation eases much more than expected in November

Reuters Us Markets - Fri, 12/09/2016 - 07:00
(Adds market reaction, details) BRASILIA, Dec 9 (Reuters) - Brazil's inflation rate eased much more than expected in November, falling below 7 percent for the first time since 2014 and paving the...

PPG Industries unveils latest restructuring, targeting $125 million in annual savings

MarketWatch Market Pulse - Fri, 12/09/2016 - 07:00

Paint maker PPG Industries Inc. said Friday its board has approved another restructuring that aims to save $125 million a year. The cuts will be focused on end-use markets that are currently weakest and will seek to reduceg operating and admin costs. "Because of continued slow overall growth in global demand, we are taking decisive action to adjust our cost structure," Chief Executive Michael H. McGarry said in a statement. PPG expects to book pretax charges of $190 million to $200 million, or 53 cents to 58 cents a share, in the fourth quarter. Shares were not yet active in premarket trade, but are up 0.6% in the year so far, underperforming the S&P 500 , which has gained about 10%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Trump's EPA pick may struggle to dismantle Obama's environmental legacy

Top Reuters News - Fri, 12/09/2016 - 06:18
WASHINGTON (Reuters) - Scott Pruitt, Donald Trump's pick to head the U.S. Environmental Protection Agency, has fought President Barack Obama’s measures to curb climate change at every turn as attorney general of Oklahoma. Now he is hoping to take apart Obama's environmental legacy from the inside out, a task that could prove tougher than it sounds.

Democrats plot uphill fight against some Trump nominations

Top Reuters News - Fri, 12/09/2016 - 06:11
WASHINGTON (Reuters) - U.S. Senate Democrats plan to fight some of President-elect Donald Trump's choices for top administration jobs, but history and the party's minority status in the chamber are not on their side.

Russia says over 8,000 have fled rebel-held Aleppo in last 24 hours

Top Reuters News - Fri, 12/09/2016 - 03:55
MOSCOW (Reuters) - The Russian military said on Friday it had helped more than 8,000 Syrian citizens flee parts of eastern Aleppo still controlled by rebels in the last 24 hours, including almost 3,000 children.

UPDATE 1-Brexit minister "not really interested" in transitional Brexit deal - FT says

Reuters Us Markets - Fri, 12/09/2016 - 03:33
LONDON, Dec 9 (Reuters) - Britain's Brexit minister David Davis is "not really interested" in a transitional deal to cushion the country from the effects of leaving the European Union, he told a...

Aixtron's CEO puts a positive light on blocked Chinese takeover

Top Reuters News - Fri, 12/09/2016 - 03:23
FRANKFURT (Reuters) - The U.S. blocking of Aixtron's takeover by a Chinese firm has highlighted the German chip equipment maker's importance in the sector, making its prospects for the future somewhat less bleak, its chief executive said.

Aixtron's CEO puts a positive light on blocked Chinese takeover

Reuters Us Markets - Fri, 12/09/2016 - 03:18
FRANKFURT, Dec 9 (Reuters) - The U.S. blocking of Aixtron's takeover by a Chinese firm has highlighted the German chip equipment maker's importance in the sector, making its prospects for the future...

Electrolux sees slow European appliance market growth in 2017

Reuters Us Markets - Fri, 12/09/2016 - 03:15
STOCKHOLM, Dec 9 (Reuters) - Swedish home appliance maker Electrolux expects demand for its products to grow on both sides of the Atlantic next year, but at a slower rate than in 2016.

BRIEF-Strides Shasun to acquire Perrigo's API facility in India

Reuters Us Markets - Fri, 12/09/2016 - 03:10
* Says Strides Shasun to acquire Perrigo's US FDA approved API facility in India

CORRECTED-UPDATE 1-German exports struggle to recover in uncertain global market

Reuters Us Markets - Fri, 12/09/2016 - 03:05
BERLIN, Dec 9 (Reuters) - German exports rebounded by less than expected in October, dampening hopes that trade will make a significant contribution to a predicted expansion in Europe's biggest...

Rosneft says new supply contract with Glencore includes oil and oil products

Reuters Us Markets - Fri, 12/09/2016 - 02:55
MOSCOW, Dec 9 (Reuters) - Russian oil giant Rosneft has all resources needed to fulfil its new long term contract with commodities trader Glencore, Rosneft told Reuters on Friday, adding that the...

In Trump stronghold, factories are humming but paychecks are thin

Top Reuters News - Fri, 12/09/2016 - 02:47
GRAND RAPIDS, Mich./WASHINGTON (Reuters) - When President-elect Donald Trump returns to this factory town on Friday for a victory celebration, he will find a region that is already experiencing the manufacturing renaissance he promised on the campaign trail.

UPDATE 1-France's Elior eyes further profit, sales growth

Reuters Us Markets - Fri, 12/09/2016 - 02:47
* Confident on 2016/17 and on 2020 goals (Adds CEO comments from call details)

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