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Wall Street Loses Traction as Tech Sector Continues to Correct

Wall Street Loses Traction as Tech Sector Continues to Correct

Selling pressure on tech stocks continued to plague Wall Street Thursday with the major averages all surrendering early gains to trade lower. Wednesday’s Congressional testimony by tech executives Sheryl Sandberg and Jack Dorsey continued to weigh on the sector amid concerns that Washington will enact regulations to restrain the social media industry. Coupled with persistent fears of a protracted trade […]

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 […]

Albemarle Is Reportedly Interested in Acquiring FMC’s Lithium Business

Albemarle Is Reportedly Interested in Acquiring FMC’s Lithium Business

Albemarle (ALB) may want to acquire FMC’s (FMC) Livent lithium unit if the unit’s initial public offering scheduled this fall does not go through, Reuters reported, citing an unidentified source familiar with the matter. Albemarle executive Eric Norris, who leads the mining company’s global lithium business, told investors at a private June dinner in Las Vegas that a successful Livent […]

Coupa Software Surges as Second Quarter Profit Surprises Investors

Coupa Software Surges as Second Quarter Profit Surprises Investors

Shares in Coupa Software (COUP) traded sharply higher early Wednesday after the company surprised investors by swinging to a profit in its fiscal second quarter, and as earnings and sales forecasts for the third quarter beat analysts’ estimates. Underpinned by strong growth in subscription revenues, group turnover surged by 38% to $61.7 million during the three months that ended July […]

Inovio Pharmaceuticals Doses First Patient in MERS Vaccine Trial

Inovio Pharmaceuticals Doses First Patient in MERS Vaccine Trial

Inovio Pharmaceuticals (INO), a developer of DNA immunotherapies, Wednesday reported dosing of the first subject with its vaccine to prevent the deadly Middle East Respiratory Syndrome, or MERS virus, in a phase 1/2a study. Inovio said the trial is ongoing in South Korea sponsored by its Korean development partner for its MERS vaccine, the publicly held GeneOne Life Science. The […]

Equities Drop in US as Trade Tensions and Earnings Results Sink Sentiment

The benchmark US stock measures sank on Wednesday as downbeat earnings results and renewed trade tensions weighed on sentiment. Turkey’s move to hit back at the US by doubling tariffs on several imports ignited geopolitical jitters that had eased on Tuesday and allowed the Dow Jones Industrial Average and the Standard & Poor’s 500 to stem four-day losing streaks. Energy […]

US Crude Inventories Post Bigger Weekly Increase Than Expected

US crude stockpiles jumped by more than expected in the week, government data showed, adding to pressures on futures of the commodity which spiraled lower in Wednesday’s session. West Texas Intermediate, the main US variety, was down 3.7% to $64.57 a barrel at the time of writing, erasing all of the gains it made in July. Brent, the international standard, […]

Ameriprise Financial Services to Pay $4.5 Million SEC Penalty

Ameriprise Financial Services (AMP) will pay $4.5 million to settle charges made by the US Securities and Exchange Commission that it failed to protect investors’ cash from representatives of the company who committed “numerous fraudulent acts.” The regulator’s order said Ameriprise failed to have policies and procedures to prevent misappropriation of client funds by representatives of the company that offers […]