Chrysler shares slide after GM merger rebuke May 25, 2015 SHARES in Fiat Chrysler slipped yesterday after reports a potential merger with General Motors (GM) has been rebuffed. The news follows an article in the New York Times which suggested Fiat Chrysler chief executive Sergio Marchionne had proposed a deal with GM in March, only for his counterpart, Mary Barra to flat out refuse such [...]
Nasdaq apologises for letting Twitter results fly out ahead of time, blames Shareholder.com April 29, 2015 Nasdaq was yesterday forced to apologise for the early release of Twitter’s earnings, blaming an “operational” error that lasted just 45 seconds. Twitter’s share price plunged nearly nine per cent yesterday, following a 20 per cent tumble on Tuesday when the social media site’s below-estimate quarterly earnings were announced early. Nasdaq blamed its [...]
Biotech and healthcare drag on shares – New York Report April 27, 2015 US STOCKS ended down yesterday, led by losses in biotech shares after disappointing news from several companies. The Nasdaq Biotech Index sank 4.1 per cent, its biggest daily percentage loss since 25 March, while the S&P Healthcare index, down 1.8 per cent, was the biggest drag on the benchmark S&P 500 index. Amgen shares led [...]
Under Armour share price slides as net income falls despite soaring revenues April 21, 2015 The figures Under Armour cemented its membership in the sportswear major players club after reporting revenue growth above 20 per cent for the 20th successive quarter. Turnover at the sportswear brand increased by 25 per cent to $805m (£541.1m), encouraging the company to boost its outlook for the full year to $3.78bn. In contrast to [...]
Why robust regulation of retail trading is a competitive advantage April 19, 2015 Since the financial crisis, regulation has been debated extensively; as financial markets have become more accessible to retail consumers, protecting them has never been more important. The decision by the Swiss National Bank to remove the cap on euro-Swiss franc in January 2015 caused turmoil in currency markets, and given the impact this had on [...]
GoDaddy share price soars on debut as valuation climbs to $5.5bn April 1, 2015 Web hosting company GoDaddy saw its share price rise by 34 per cent on its first day on the New York Stock Exchange, valuing the company at well over $5.5bn (£3.71bn). GoDaddy raised $460m from its IPO, having sold its complete offering of 23m class A shares at a price of $20 per share – [...]
Google just hired Morgan Stanley finance chief Ruth Porat as its new CFO March 24, 2015 Google has named a replacement for departing finance chief Patrick Pichette. Ruth Porat will leave her role as finance chief at Morgan Stanley to fill Pichette’s shoes after the long-standing executive revealed he was departing the internet giant just under two weeks ago. Investors responded positively to the news – shares were up by around [...]
RBS cuts stake in US with $3bn Citizens sale March 23, 2015 RBS WILL cut its stake in US bank Citizens to below half this week, as it yesterday announced plans to sell off more shares in the lender. The bailed-out British bank is cutting down its overseas presence to focus on the UK market. It floated Citizens on the New York Stock Exchange six months ago, [...]
RBS to sell stake in US subsidiary Citizens Financial March 23, 2015 Royal Bank of Scotland will shrink its stake in its US subsidiary Citizens Financial to below 50 per cent. Citizens Financial has announced RBS will sell off 115m shares in the company which only listed on the New York Stock Exchange in September. RBS will also grant the underwriters – including Morgan Stanley, Goldman [...]
GoDaddy goes for float with a $3bn price tag March 19, 2015 WEB FIRM GoDaddy is expected to be valued at $2.9bn (£1.9bn) on its initial public offering (IPO), it was revealed yesterday. The web hosting and domain registration company serves 12.7m customers and saw its revenues rise 23 per cent to $1.4bn in the year ending 31 December. Net losses at the firm fell from $200m [...]