Author: Marc Ferrigno

Wall Street Steady Pre-Bell; Futures Even, Europe Up

Wall Street Steady Pre-Bell; Futures Even, Europe Up

Wall Street pre-market Wednesday is steady, with US stock-index futures pointing to an opening bell largely unchanged from Tuesday’s close. European bourses are trading mildly higher, and Asian exchanges closed choppily on trade concerns. China reported a near-record $28.9 billion trade surplus in July with the US. The US will impose a 25% tariff on another $16 billion worth of […]

CVS Health Gets Bump After Reporting Second-Quarter Adjusted Earnings

CVS Health Gets Bump After Reporting Second-Quarter Adjusted Earnings

CVS Health (CVS) got a boost on Wednesday morning after reporting second-quarter adjusted earnings and sales that beat expectations. Second-quarter adjusted earnings came in at $1.69 a share, topping forecasts from Capital IQ for $1.61 on a normalized basis. The company said GAAP loss was $2.52 a share due to a one-time $3.9 billion, or $3.85 per share, goodwill impairment […]

Three-Year Auction Outlooks According to Mizuho

Three-Year Auction Outlooks According to Mizuho

Mizuho said the 3Y is cheaper than last month’s stop. The 2/3/5 fly is around the same level as last month’s auction. While dealers had to take down over 50% of that auction and 42.9% the last five auctions, it is possible the outright level and the 2.75% coupon draw out some buyers and dealers take down to go back […]

Reports Mattress Firm Exploring Bankruptcy Seen as Positive For Tempur Sealy International

Reports Mattress Firm Exploring Bankruptcy Seen as Positive For Tempur Sealy International

Reports that Mattress Firm (MFRM) is exploring bankruptcy is positive for Tempur Sealy International (TPX) as the company likely would capture some share of sales that would otherwise go to the struggling retailer, Wedbush said in a note to clients on Tuesday. A Reuters report on Monday said Steinhoff and Mattress Firm hired Alix Partners, potentially to prepare for Chapter […]

European Equity Benchmarks Close Mixed; Investors Favor Financials, Automotive Stocks Over Mining, Industrials

European Equity Benchmarks Close Mixed; Investors Favor Financials, Automotive Stocks Over Mining, Industrials

The broad-based major European indices closed relatively flat in Monday trading as the UK market edged higher, while the continental markets moved slightly lower. In economic news, July data signaled a disappointing start to Q3 for the UK service sector, according to IHS Markit, with business activity and incoming new work rising at softer rates than in June. Higher staff […]

Indra K. Nooyi (PRNewsfoto/PepsiCo, Inc.)

PepsiCo CEO Nooyi to Step Down Effective Oct. 3

Indra Nooyi will step down as chief executive of PepsiCo (PEP) on Oct. 3 and will be replaced by Ramon Laguarta, the company said on Monday. Nooyi will step down on Oct. 3 after 24 years with Pepsi, including the past 12 as chief executive. She will retain her role as chairman until early 2019 to ensure a “smooth and […]