Wire stories category, Page 125
Stocks plunge after Apple says iPhone sales in China slowed
NEW YORK — Stocks tumbled Thursday on Wall Street, with technology companies suffering their worst loss in seven years, after Apple reported that iPhone sales in China are slumping. The rare warning of disappointing results from Apple reinforced investors’ fears that the world’s second-biggest economy is losing steam and that...
Bristol-Myers Squibb buying Celgene in $74B deal
SUMMIT, N.J. — Bristol-Myers Squibb is spending $74 billion on fellow drugmaker Celgene in a deal aimed at stocking the combined company’s development pipeline with cancer, immunology and cardiovascular treatments. Bristol would gain the cancer treatment Revlimid in the cash-and-stock deal announced Thursday, as well as inflammatory disease treatments and...
Bad stuff the stock market worried about is starting to happen
All of a sudden, the fundamentals aren’t looking as strong. First it was Apple’s $5 billion revenue miss, hints of which lopped 30 percent from its stock over three months. Now it’s a closely watched gauge of U.S. factory activity, which dropped to a two-year low and missed every estimate...
Disappointing outlook from Delta drags down airline stocks
ATLANTA — Airlines are getting pummeled after a major carrier trimmed its revenue expectations for the fourth quarter. Delta Air Lines said Thursday that fourth-quarter revenue will rise about 7 percent, a half-point lower than it was expecting. The Atlanta airline says prices for tickets sold close to departure —...
Survey: U.S. firms added a strong 271,000 jobs in December
WASHINGTON — U.S. businesses added a robust 271,000 jobs in December. Payroll processor ADP said Thursday that last month’s job gains marked a sharp upturn from November’s gain of 157,000. The gains, if backed up by government numbers due Friday, could be strong enough to reduce the unemployment rate. ADP...
Stock market starts off 2019 with more turbulence
Global markets went into a steep decline out of the gate on Wednesday, then seesawed as the volatility of 2018 continued into the new year. The Dow Jones industrial average swung between being down nearly 400 points and up 86 points, before closing up 18 points, or .08 percent, finishing...
Tesla cuts prices as 4Q deliveries miss analysts’ estimates
DETROIT — Shares of electric car and solar panel maker Tesla Inc. tumbled Wednesday after the company cut vehicle prices by $2,000 and announced fourth-quarter sales figures that fell short of Wall Street estimates. The company said in a statement before the markets opened that it delivered over 245,000 electric...
Stocks waver after an early drop as markets stay volatile
The roller coaster ride on Wall Street resumed on Wednesday, the first trading day of the new year, as stocks plunged in the morning and then climbed their way back by midday. The Dow Jones Industrial Average dropped as much as 398 points in the first few minutes of trading...
