Author: Evan Dion

Chip Maker Shares Tumble on Memory Market Outlook, KLA-Tencor Comment

Chip Maker Shares Tumble on Memory Market Outlook, KLA-Tencor Comment

Shares of chip makers plunged in early Thursday trading following comments made by KLA-Tencor (KLAC) at the Citi Global Technology Conference in New York and concerns raised by analysts regarding the outlook for memory markets heading into the final quarter of the year, media reported. KLA-Tencor, a provider of process control and yield management systems, plummeted as much as 9%, […]

Crescent Point Energy Appoints CEO and Chairman; Targets $1 Bln Debt Reduction

Crescent Point Energy Appoints CEO and Chairman; Targets $1 Bln Debt Reduction

Crescent Point Energy (CPG, CPG.TO) said it has named Craig Bryksa chief executive officer and Robert Heinemann chairman as it pursues new strategies. Bryksa had been serving as interim CEO while the company conducted a search for a successor to Scott Saxberg, who stepped down in May. Heinemann succeeds Peter Bannister, who has stepped down after serving since 2014. Crescent […]

Canopy Growth Soars 29% as Constellation Brands Makes $3.8 Bln Strategic Investment in Company

Shares of Canopy Growth (CGC) surged by 29% intraday after the company and Constellation Brands (STZ) said Wednesday that they expanded their strategic partnership in a bid to position Canopy Growth as a global leader in cannabis production, branding, intellectual property and retailing. The alcoholic beverage company said that it will raise its ownership interest in Canopy Growth by acquiring […]

Advance Auto Parts Beats Sales, Earnings Expectations as Outlook Bolstered for 2018

Advance Auto Parts Beats Sales, Earnings Expectations as Outlook Bolstered for 2018

Advance Auto Parts (AAP) reported better-than-expected results for its second quarter, with a turnaround in comparable store sales bringing a higher view for the aftermarket parts retailer’s full-year outcome. The Roanoke, Virginia-based company said net sales rose 2.8% in the second quarter to $2.33 billion, beating the consensus on Capital IQ for $2.26 billion. Adjusted earnings increased to $1.97 a […]

Rio Tinto Mulls Public Listing of Canadian Iron Ore Unit

Rio Tinto Mulls Public Listing of Canadian Iron Ore Unit

Rio Tinto (RIO) is exploring an option to publicly list its Iron Ore Company of Canada business as the mining giant aims to improve revenue from its flagship Australian assets, Reuters reported, citing banking and industry sources. Iron Ore is one of Canada’s biggest producers of iron ore. In 2017, it generated revenue of $1.9 billion. It is 59% owned […]

US Equity Futures Flat as Trade-War Concerns Resurface

US Equity Futures Flat as Trade-War Concerns Resurface

S&P futures traded just below Tuesday’s highs as overnight headers the US is initiating 25% tariffs on $16 billion of Chinese goods weighed on sentiment, said Dave Lutz, head of ETFs at Jones Trading. Europe was bid as the DAX rose 30 points after EU autos shrugged off trade angst and tech continued its global recovery. Consumer names were a […]

Tesla Stock Surges as Musk Says May Take Company Private

Tesla Stock Surges as Musk Says May Take Company Private

Tesla (TSLA) shares jumped on Tuesday after co-founder Elon Musk tweeted that he was considering taking the electric-vehicle maker private. “Am considering taking Tesla private at $420. Funding secured,” the company’s chief executive officer said from his Twitter account. The shares were recently trading at $360.99. Musk, who often engages with both supporters and detractors on social media, didn’t offer […]