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 [...]
Old Mutual gets low price for its US share sale October 9, 2014 OLD MUTUAL is set to raise $308m (£190m) from the initial sale of shares in its US asset management business, more than $20m less than it had hoped to raise in the offering. The shares were priced at $14, below the $15 to $17 range it had hoped to achieve for the 22m shares on offer. The [...]
Martin Wheatley undermined China effort – Editor’s Letter October 8, 2014 As the advisers to the Jimmy Choo flotation announce they have enough support to proceed, there is much to be delighted with in the way the new issues market has gone this year. Up to the August break and then pausing until the uncertainty over the Scottish referendum lifted, there has been a constant stream [...]
Wall St slips as traders look to earnings’ data – New York Report October 6, 2014 US SHARES yesterday fell in choppy trading, with traders nervously eyeing the start of earnings season, while the S&P 500 failed to remain above a key technical level. The Dow Jones industrial average fell 17.78 points, or 0.1 per cent, to 16,991.91, the S&P 500 lost 3.08 points, or 0.16 per cent, to 1,964.82 and [...]
Wall St ends on quiet note – New York Report October 2, 2014 US STOCKS ended flat yesterday in a volatile session as energy stocks rebounded and investors bought beaten-down shares, especially small caps. The Dow Jones industrial average fell 3.66 points, or 0.02 per cent, to 16,801.05, the S&P 500 ended unchanged on 1,946.17 points and the Nasdaq Composite added 8.11 points, or 0.18 per cent, to [...]