Breaking Stock Market and Financial News

David Cassidy, teen heartthrob of 'The Partridge Family,' dies at 67

Top Reuters News - Tue, 11/21/2017 - 22:01
(Reuters) - David Cassidy, a singer and actor whose androgynous features and jaunty voice made him a 1970s teen heartthrob on the "The Partridge Family" television show, died on Tuesday at age 67, his publicist said.

U.S. government warns businesses about cyber bug in Intel chips

Top Reuters News - Tue, 11/21/2017 - 21:49
(Reuters) - The U.S. government on Tuesday urged businesses to act on an Intel Corp alert about security flaws in widely used computer chips as industry researchers scrambled to understand the impact of the newly disclosed vulnerability.

Apple scientists disclose self-driving car research

Top Reuters News - Tue, 11/21/2017 - 21:37
(Reuters) - Research by Apple Inc computer scientists on how self-driving cars can better spot cyclists and pedestrians while using fewer sensors has been posted online, in what appears to be the company's first publicly disclosed paper on autonomous vehicles.

Former teen idol David Cassidy dies at 67

MarketWatch Market Pulse - Tue, 11/21/2017 - 21:28

Actor, singer and former teen idol David Cassidy died Tuesday at 67, his publicist announced. Cassidy suffered from dementia and died of organ failure, his publicist, Jo-Ann Geffen said. Known for his good looks and lush hair, Cassidy gained pop culture fame in the early 1970s as a co-star on the TV musical "The Partridge Family," and in 1970 sang the No. 1 Billboard pop hit, "I Think I Love You." "On behalf of the entire Cassidy family, it is with great sadness that we announce the passing of our father, our uncle, and our dear brother, David Cassidy," his family said in a statement released by Geffen. "David died surrounded by those he loved, with joy in his heart and free from the pain that had gripped him for so long. Thank you for the abundance and support you have shown him these many years."

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Meg Whitman stepping down as HP Enterprise CEO

Top Reuters News - Tue, 11/21/2017 - 21:02
(Reuters) - Meg Whitman on Tuesday announced that she will step down as chief executive of Hewlett Packard Enterprise Co , ending a 6-year tenure that included overseeing one of the biggest corporate breakups in history.

Uber CEO says company failed to disclose massive breach in 2016

Top Reuters News - Tue, 11/21/2017 - 19:12
(Reuters) - Uber Technologies Inc [UBER.UL] failed to disclose a massive breach last year that exposed the data of some 57 million users of the ride-sharing service, the company's new chief executive officer said on Tuesday.

Mueller probe questions Kushner's contacts with foreign leaders: report

MarketWatch Market Pulse - Tue, 11/21/2017 - 18:57

Special counsel Robert Mueller's investigation into Russian election-meddling is looking into Jared Kushner's interactions with foreign leaders before President Donald Trump's inauguration, the Wall Street Journal reported Tuesday. That includes the role Kushner, a top White House adviser and Trump's son-in-law, played in a United Nations dispute last December involving Israel. The incoming Trump administration had been asked by Israel to intervene to block a resolution condemning Israeli settlements in disputed territories. The resolution eventually passed, after the Obama administration did not move to block it. Kushner originally disclosed earlier this year on his security-clearance application he had no contacts with foreign government officials. He later amended that disclosure three times, admitting more than 100 contacts from more than 20 countries.

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Portola shares slip as FDA review pushes possible drug release to February

MarketWatch Market Pulse - Tue, 11/21/2017 - 18:50

Portola Pharmaceuticals Inc. shares declined in the extended session Tuesday after the drug maker said the Food and Drug Administration needs more time to review company manufacturing changes to a drug already approved. Portola shares declined 3.5% to $49.01 after hours. Portola said the FDA needs time to review the entire Prior Approval Supplement submission for Bevyxxa, approved to treat venous thromboembolism patients in June. The review time pushes out the release of Bevyxxa to February, given that the FDA is required to act by Jan. 30.

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HP Enterprise CEO Meg Whitman to step down

Top Reuters News - Tue, 11/21/2017 - 18:47
(Reuters) - Hewlett Packard Enterprise Co said on Tuesday that Meg Whitman was stepping down as chief executive officer after six years at the helm during which she steered the company through the biggest breakup in corporate history.

TiVo shares rally as federal ruling says Comcast infringed patents

MarketWatch Market Pulse - Tue, 11/21/2017 - 18:34

TiVo Corp. shares rallied in the extended session Tuesday after the digital video company won a federal patent ruling against Comcast Corp. . Shares of TiVo surged 6.8% to $18.85 after hours, while Comcast shares were up 0.1% at $36.45. Late Tuesday the U.S. International Trade Commission ruled that Comcast set-top boxes violated two patents of Rovi Corp., owned by TiVo. "Rovi is pleased the International Trade Commission issued its final ruling in our favor and found that two Rovi patents are valid and infringed by Comcast's X1 products, and issued an exclusion order that bans Comcast from importing and selling X1 devices that infringe our valuable intellectual property," TiVo said in an emailed statement.

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Ex-Bosnian Serb commander Mladic faces verdict in genocide trial

Top Reuters News - Tue, 11/21/2017 - 18:17
THE HAGUE (Reuters) - The U.N. tribunal on war crimes in former Yugoslavia hands down its final verdict on Wednesday in the genocide trial of Ratko Mladic, the ex-Bosnian Serb general accused of ordering the massacre of 8,000 Muslim men and boys at Srebrenica.

Disney-Pixar animation executive Lasseter takes leave after 'missteps': memo

Top Reuters News - Tue, 11/21/2017 - 17:40
(Reuters) - Walt Disney Co executive John Lasseter, who heads animation at both Disney and Pixar, told company staff on Tuesday he was taking a six-month leave of absence following what he called "missteps" including unwanted hugs that made employees uncomfortable, according to a memo seen by Reuters.

Uber paid to keep data breach secret after exposing info on 57 million users and drivers: report

MarketWatch Market Pulse - Tue, 11/21/2017 - 17:24

Uber Technologies Inc. was hit by a data breach that affected 57 million passengers and drivers in October 2016, and the company has fired its chief security officer and other employees after they kept the incident private, according to a Tuesday report. Names, email addresses and phone numbers of about 50 million passengers were potentially accessed in the breach, along with personal information on 7 million drivers, Uber disclosed in a news release. Uber paid $100,000 to attackers to delete the data and stay quiet, Bloomberg News reported, which the board discovered after starting an inquiry into the company's security operations last month. Chief Security Officer Joe Sullivan resigned at the new CEO's request and one of his deputies was dismissed as a result, Bloomberg reported. "None of this should have happened, and I will not make excuses for it," Uber Chief Executive Dara Khosrowshahi said in the release. "We are changing the way we do business." Khosrowshahi's deposed predecessor, Uber founder Travis Kalanick, reportedly found out about the hack and response in November 2016. Uber did not immediately respond to a request for additional comment.

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Oil prices climb as sources say API data show drop in U.S. crude supplies

MarketWatch Market Pulse - Tue, 11/21/2017 - 16:46

The American Petroleum Institute reported Tuesday that U.S. crude supplies dropped by 6.4 million barrels for the week ended Nov. 17, according to sources. The API data also showed a rise of 869,000 barrels in gasoline stockpiles, while inventories of distillates fell by 1.7 million barrels, sources said. Supply data from the Energy Information Administration will be released Wednesday morning. Analysts polled by S&P Global Platts expect the EIA to report a decline of 2.1 million barrels for crude inventories. They also forecast a rise of 1 million barrels for gasoline and a draw of 1.8 million barrels for distillate supplies. January crude was at $57.10 a barrel in electronic trading, up from the settlement of $56.83 on the New York Mercantile Exchange.

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Guess shares tank on lower-than-expected quarterly sales

MarketWatch Market Pulse - Tue, 11/21/2017 - 16:39

Shares of Guess Inc. fell 12% late Tuesday after the retailer reported third-quarter sales that missed Wall Street expectations. Guess said it lost $2.9 million, or 4 cents a share, versus earnings of $9.1 million, or 11 cents a share, in the year-ago period. Adjusted for one-time items, Guess earned $10.4 million, or 12 cents a share, compared with $9.6 million, or 11 cents a share a year ago. Sales rose 3.3% to $554 million, compared with $536 million a year ago. Analysts surveyed by FactSet had expected adjusted earnings of 12 cents a share on sales of $564 million. Retail revenue in the Americas fell 11%, offset by increases in Europe and Asia, the company said.

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Gamestop shares rise after earnings beat

MarketWatch Market Pulse - Tue, 11/21/2017 - 16:35

Gamestop Inc. shares rose in the extended session Tuesday after the videogame retailer topped Wall Street estimates for the quarter. Gamestop shares rose 3.4% to $17.29 after hours. The company reported third-quarter net income of $59.4 million, or 59 cents a share, compared with $50.8 million, or 49 cents a share, in the year-ago period. Adjusted earnings were 54 cents a share. Revenue rose to $1.99 billion from $1.96 billion in the year-ago period. Analysts surveyed by FactSet had estimated 42 cents a share on revenue of $1.96 billion. For the year, Gamestop estimates earnings of $3.10 to $3.40 a share, while analysts expect earnings of $3.31 a share.

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Trump defends Senate candidate Moore despite misconduct allegations

Top Reuters News - Tue, 11/21/2017 - 16:33
WASHINGTON (Reuters) - U.S. President Donald Trump defended embattled U.S. Senate candidate Roy Moore on Tuesday, saying the Alabama Republican had denied allegations of sexual misconduct and emphasizing that he did not want Moore's Democratic opponent to win.

HPE falls as earnings forecast comes up short, Whitman announces departure

MarketWatch Market Pulse - Tue, 11/21/2017 - 16:28

Hewlett Packard Enterprise Co. managed to close out its year with an earnings beat Tuesday, but the company's forecast for the first quarter of its new fiscal year and Chief Executive Meg Whitman's impending departure sent shares into a spiral. HPE reported net income from continuing operations of $378 million, or 23 cents a share, on revenue of $7.66 billion, up from $7.32 billion the year before. Adjusted earnings was reported as 31 cents a share, down from 61 cents a share a year ago, reflecting the divestment of the software business. Analysts on average expected HPE to report adjusted earnings of 28 cents a share on sales of $7.77 billion, according to FactSet. HP's forecast for the fiscal first quarter was not as beneficial: The company said it expected adjusted earnings of 20 cents to 24 cents a share, while analysts were projecting 27 cents a share on average, according to FactSet. In a separate news release, HPE announced that Whitman would depart the CEO role on Feb. 1 and be replaced by longtime HP employee Antonio Neri. HPE shares dove nearly 8% in late trading after the announcements, falling to near $13 a share after closing at $14.12.

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HP Inc. shares fall 4% after Q4 results

MarketWatch Market Pulse - Tue, 11/21/2017 - 16:28

Shares of HP Inc. fell 4% late Tuesday after the Palo Alto, Calif., company reported fiscal fourth-quarter earnings and sales above expectations. HP said it earned $660 million, or 39 cents a share, in the quarter, compared with $492 million, or 28 cents a share, in the year-ago period. Adjusted for one-time items, HP earned 44 cents a share, compared with 36 cents a share a year ago. "We posted top-line growth across both Personal Systems and Print, with broad-based, double-digit growth in all three regions, while also growing operating profit and non-GAAP EPS year-over-year," Chief Executive Dion Weisler said in a statement. Sales rose 11% to $13.9 billion in the quarter, compared with $12.5 billion a year ago. Analysts polled by FactSet had expected the company to report adjusted earnings of 44 cents a share on sales of $13.4 billion. HP forecast an adjusted EPS in a range of 40 cents to 43 cents for fiscal first quarter, and it raised its fiscal 2018 adjusted EPS estimates to a range of $1.75 to $1.85. Analysts surveyed by FactSet expect adjusted fiscal first quarter earnings of 42 cents a share and adjusted fiscal 2018 EPS of $1.79 a share.

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HP Enterprise CEO Meg Whitman steps down

Top Reuters News - Tue, 11/21/2017 - 16:22
(Reuters) - Hewlett Packard Enterprise Co said on Tuesday that Meg Whitman was stepping down as chief executive officer.

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