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Lord & Taylor, Men's Wearhouse owner file for bankruptcy
Lord & Taylor, Men's Wearhouse owner file for bankruptcy
| August 3rd | 2020  4:19AM
Lord & Taylor, Men's Wearhouse owner file for bankruptcy
NEW YORK (AP) — Lord & Taylor, one of America's oldest department stores, has filed for bankruptcy, joining a growing list of stores slammed by the coronavirus pandemic. Tailored Brands, the parent company of Men's Wearhouse and Jos. A. Banks, filed for bankruptcy as well. Many of the companies that have filed for Chapter 11 in recent…
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Asian shares mixed on US-China tensions, Wall Street gains
Asian shares mixed on US-China tensions, Wall Street gains
| August 3rd | 2020  3:55AM
Asian shares mixed on US-China tensions, Wall Street gains
TOKYO (AP) — Asian shares were mixed on Monday as investors eyeballed surging coronavirus cases in the region. U.S. Secretary of State Mike Pompeo's weekend comments that President Donald Trump plans to take action on a what he sees as a broad array of national security risks presented by software connected to the Chinese Communist Party…
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Lord & Taylor is latest retailer to file for bankruptcy
Consumer products and services news icon
| August 3rd | 2020  3:46AM
Lord & Taylor is latest retailer to file for bankruptcy
NEW YORK (AP) — New York landmark retailer Lord & Taylor has filed for bankruptcy, joining a growing list of retailers flummoxed by the pandemic. The company, which was sold to the French rental clothing company Le Tote Inc. last year, filed Sunday for bankruptcy protection in the Eastern Court of Virginia. In an…
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HSBC says net profit plunged 96% in 2Q as pandemic took hold
HSBC says net profit plunged 96% in 2Q as pandemic took hold
| August 3rd | 2020  2:47AM
HSBC says net profit plunged 96% in 2Q as pandemic took hold
LONDON (AP) — Europe’s biggest bank, HSBC, said Monday that its net profit plummeted 96% in the second quarter of this year as lower interest rates combined with the downturn due to the coronavirus pandemic tool hold. The bank's net profit was $192 million in the April-June quarter, down from $4.37 billion reported in the same period a year earlier.
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HSBC reports its net profit plummeted 96% in April-June from a year earlier as the pandemic took hold
Corporate news news icon
| August 3rd | 2020  1:36AM
HSBC reports its net profit plummeted 96% in April-June from a year earlier as the pandemic took hold
LONDON (AP) — HSBC reports its net profit plummeted 96% in April-June from a year earlier as the pandemic took hold.
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This Week: Walt Disney, CVS, Uber results
Consumer products and services news icon
| August 3rd | 2020  1:10AM
This Week: Walt Disney, CVS, Uber results
A look at some of the key business events and economic indicators upcoming this week: Losing its magic? Disney is expected to have slumped to a loss in its fiscal third quarter. Analysts forecast the Magic Kingdom operator and owner of the ABC and ESPN networks lost 61 cents a share in the April to June period, when the viral pandemic kept many of its businesses shut and tourists at home.
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Microsoft confirms talks seeking to buy US arm of TikTok
Microsoft confirms talks seeking to buy US arm of TikTok
| August 2nd | 2020  9:05PM
Microsoft confirms talks seeking to buy US arm of TikTok
NEW YORK (AP) — Microsoft confirmed Sunday it is in talks with Chinese company ByteDance to acquire the U.S. arm of its popular video app TikTok and has discussed with President Donald Trump his concerns about security and censorship surrounding such an acquisition. In a statement, Microsoft said Microsoft and ByteDance have provided…
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Siemens Healthineers to buy US cancer care firm Varian
Industrial products and services news icon
| August 2nd | 2020  4:41AM
Siemens Healthineers to buy US cancer care firm Varian
BERLIN (AP) — Germany-based Siemens Healthineers said Sunday it will buy U.S. cancer therapy and research company Varian in a deal worth around $16.4 billion. Siemens Healthineers, in which industrial conglomerate Siemens holds a majority stake, said it will buy all shares in Varian Medical Systems, Inc. for $177.50 per share in cash.
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Q&A: What would a US ban on Chinese-owned app TikTok mean?
Corporate news news icon
| August 1st | 2020  4:18PM
Q&A: What would a US ban on Chinese-owned app TikTok mean?
NEW YORK (AP) — President Donald Trump says he wants to take action to ban TikTok, a popular Chinese-owned video app that has been a source of national security and censorship concerns. The threat comes as Microsoft Corp. is in advanced talks to buy the Chinese app, owned by Bytedance Ltd., according to a person familiar with the discussions who spoke only on condition of anonymity because of the sensitivity to the negotiations.
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Microsoft in advanced talks to buy TikTok's US business
Media news icon
| August 1st | 2020  2:50PM
Microsoft in advanced talks to buy TikTok's US business
NEW YORK (AP) — Microsoft is in advanced talks to buy the U.S. operations of TikTok, the popular Chinese-owned video app that has been a source of national security and censorship concerns, according to a person familiar with the discussions who spoke only on condition of anonymity because of the sensitivity to the negotiations. The potential deal would be a victory for both companies, making Microsoft Corp.
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Trump says he'll act to ban TikTok in US as soon as Saturday
Donald Trump
| August 1st | 2020  1:08PM
Trump says he'll act to ban TikTok in US as soon as Saturday
NEW YORK (AP) — President Donald Trump said he will take action as soon as Saturday to ban TikTok, a popular Chinese-owned video app that has been a source of national security and censorship concerns. Trump's comments came after published reports that the administration is planning to order China’s ByteDance to sell TikTok. There were…
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Health officials link US salmonella outbreak to red onions
Corporate news news icon
| August 1st | 2020  11:34AM
Health officials link US salmonella outbreak to red onions
Federal health officials say an outbreak of salmonella infecting nearly 400 people in more than 30 states has been linked to red onions, and identified a California company as the likely source. The Food and Drug Administration said in a statement on Friday that Thomson International Inc. of Bakersfield, California, has notified the food…
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MarketBeat: Week in Review 7/27 - 7/31
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| August 1st | 2020  7:00AM
MarketBeat: Week in Review 7/27 - 7/31
Earnings from big tech were not enough to get the markets shooting higher on Friday. Blow-out reports from Apple and Google along with less-robust but still, better-than-expected reports from Facebook and Amazon failed to spark a major rally but the news is not all bad. Friday’s market action may have started off slow but by the end of the day,…
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3 Best Tech Stocks to Buy for August
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| August 1st | 2020  6:55AM
3 Best Tech Stocks to Buy for August
The summer months are traditionally slow for the stock market, but this year is likely going to be different. With huge news coming out seemingly every day, a global pandemic that is changing the way we live our lives, and one of the strongest tech rallies we’ve seen in recent times, this summer is anything but typical for the market. Although…
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Overstock.com (NASDAQ:OSTK) Stock: A Strong E-Commerce Alternative
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| July 31st | 2020  7:00AM
Overstock.com (NASDAQ:OSTK) Stock: A Strong E-Commerce Alternative
When you first think about e-commerce stocks, names like Amazon (NASDAQ: AMZN), Alibaba (NYSE: BABA), and Shopify (NYSE: SHOP) probably come to mind. These companies are certainly Wall Street darlings that have generated massive returns, but sometimes its best to look for the next big thing if you really want to find a great investment opportunity.
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Kemper (NYSE: KMPR) Looks Like an Excellent Value Play
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| July 31st | 2020  1:00AM
Kemper (NYSE: KMPR) Looks Like an Excellent Value Play
Kemper (NYSE: KMPR), a provider of property, casualty, life, and health insurance in the United States is sitting near 2020 highs with earnings set to be released on Monday. The pandemic has led to a few challenges for Kemper, but all in all, the business has held up nicely. Is it worth getting in ahead of earnings? Growth in Q1 2020 Kemper’s…
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Weyerhaeuser (NYSE:WY) Is A Surprisingly Good Buy
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| July 31st | 2020  1:00AM
Weyerhaeuser (NYSE:WY) Is A Surprisingly Good Buy
Running Scared … Into Profits When the COVID-19 pandemic struck executives at Weyerhaeuser (NYSE: WY) were quick to react. The pandemic sparked an immediate and unknown dip in demand, in order to protect the company they went to drastic lengths. Not only did they decide to suspend the dividend, cut back on CAPEX and begin refinancing debt to longer maturities but they cut their own salaries.
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Electronic Arts (NASDAQ:EA) Is No Bubble
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| July 31st | 2020  1:00AM
Electronic Arts (NASDAQ:EA) Is No Bubble
That Was Then, This Is Now There’s been growing speculation that tech, and specifically software, are in a bubble. The biggest comparison is the mad run-up to all-time highs set in the 1999/2000 time period but I have to say, that was then and this is now. Then, the market was speculating on what the Internet and technology might become, now…
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Good Time to Get in on Earnings-Winner Merck (NYSE: MRK)
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| July 31st | 2020  1:00AM
Good Time to Get in on Earnings-Winner Merck (NYSE: MRK)
It's undoubtedly tempting to focus attention and investment alike on pharmaceutical stocks that are hunting the coronavirus cure, but in so doing, it's easy to miss out on other big gains potentially available in the market. Gains with much less fanfare but no less solid results; gains like those seen recently from Merck (NYSE: MRK), which turned…
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