Alibaba revenue rises 54 per cent in first quarterly results since IPO November 4, 2014 Alibaba’s first earnings report since its initial public offering (IPO) – the largest in history – was something of a mixed bag. While revenues beat analysts’ expectations, profits fell well below forecasts. Revenues came in at $2.74bn (£1.71bn) for the quarter ended 30 September 2014, beating an expected $2.61bn from analysts polled by Yahoo [...]
Virgin Money re-launches IPO, Virgin America expects to raise $36m from its own offering November 3, 2014 Virgin Money’s stock market flotation is back on the table, as the UK challenger bank is understood to be re-launching its plans imminently. Meanwhile – across the Atlantic – low cost airline Virgin America could be valued at $1bn (£625m) if its initial public offering (IPO) goes to plan. Rocky market conditions last [...]
New York Stock Exchange recovers after “experiencing issues” October 30, 2014 The New York Stock Exchange has returned to business as usual after a brief hiccup with posting and receiving trades and quotes. The problems were blamed on an as yet unspecified issue with the National Market System securities information processor, the network that carries trades and quotes. About ten minutes after the problem had been [...]
Fiat Chrysler share price soars as Ferrari IPO spin-off plans revealed October 30, 2014 Fancy owning a chunk of one of the best known luxury sports car brands out there? Ferrari is being spun off by its parent company Fiat Chrysler Automobiles (FCA) as it looks to ensure the group's “long-term success”, it was revealed today. The spin off will include an IPO, with around 10 per [...]
Alibaba’s share price reaches record high, valuing it higher than Wal-Mart October 28, 2014 Shares in Alibaba soared to a record high of $100.45 today, valuing the Chinese etail giant at more than $247bn (£152bn), taking it above US rival Wal-Mart for the first time. Alibaba's share price rose 2.8 per cent during mid-morning trading today. It listed on the New York Stock Exchange last month at $68 a [...]
Ackman-backed group in $3.5bn crop spray deal October 20, 2014 AGROCHEMICAL firm Arysta LifeScience was sold by its private equity backer for $3.5bn yesterday to a chemicals company part-owned by activist investor Bill Ackman. Arysta, which boasts more than 3,600 fungicide and herbicide type products, has been acquired by Platform Specialty Products, a group listed on the New York Stock Exchange. Arysta’s former backer, UK-based [...]
Texas oil refinery giant swoops on Rocky Mountains pipeline October 20, 2014 TESORO Logistics made a push into the Rocky Mountains yesterday by clinching a deal to buy QEP Resource’s natural gas pipeline and processing unit in a $2.5bn (£1.5bn) all-cash takeover agreement. The business, which is a subsidiary of listed refinery operator Tesoro, will buy the pipelines and processing unit from QEP’s subsidiary QEP Field Services. [...]
Netflix share price takes a pummelling October 16, 2014 Netflix’s share price has been battered this morning, as US stocks continued to struggle. Shares in the online video-streaming company opened around 23 per cent down – and are showing no signs of recovery in early morning trading. The plunge in shares is salt in the wound for Netflix, who recorded disappointing third [...]
Time Warner share price jumps as chief exec Jeff Bewkes promises to double earnings growth October 15, 2014 Time Warner Inc chairman and chief executive Jeff Bewkes today faced the unenviable task of convincing investors the decision to turn down $80bn of Rupert Murdoch's money was a good one. Murdoch had wanted to merge Time Warner with his Twenty First Century Fox company, but the Australian's $80bn buyout offer was rejected by the [...]
Fiat-Chrysler motors into New York market October 13, 2014 NEWLY formed carmaker Fiat-Chrysler made its New York stock debut yesterday, a major milestone in chief executive’s Sergio Marchionne long-running overhaul of the group. Shares ended lower at $8.92 having listed at $9, with Marchionne ringing the closing bell after trading in New York. Italian car maker Fiat bought US automotive icon Chrysler out of [...]