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European Equity Benchmarks Close Mixed; Investors Favor Retailers, Shun Energy Stocks

European Equity Benchmarks Close Mixed; Investors Favor Retailers, Shun Energy Stocks

The broad-based major European indices closed mixed in Thursday trading as the continental markets rose, while the London exchanged moved lower. In economic news, the Organization for Economic Co-operation and Development (OECD) reported that composite leading indicators (CLIs), which are designed to anticipate turning points in economic activity, are pointing to easing growth momentum in the euro area as a […]

Viacom Reports Mixed Results as Advertising Dips, Paramount Pictures Gains

Viacom Reports Mixed Results as Advertising Dips, Paramount Pictures Gains

Viacom (VIA, VIAB) reported downbeat revenue for the fiscal third quarter as advertising revenue decreased, but earnings came in better than expected, and the entertainment company cheered growing profitability in its Paramount Pictures division. Revenue fell 4% to $3.24 billion, missing the consensus on Capital IQ for $3.27 billion. Adjusted diluted earnings rose by a penny to $1.18 a share, […]

Rite Aid Shares Plunge After Announcing $24 Billion Merger With Albertsons Terminated

Rite Aid Shares Plunge After Announcing $24 Billion Merger With Albertsons Terminated

Rite Aid (RAD) shares plunged in early trading on Thursday after the company said its proposed merger with Albertsons Companies was canceled. The companies said in a statement on Wednesday that they’d made a mutual decision to terminate the $24 billion merger, which was originally announced in February. The transaction had been under scrutiny from investors and shareholders. Rite Aid […]

Producer Price Inflation Misses Expectations

Producer price inflation was flat in July, coming in below expectations as the measure of final demand services contracted for the first time since December. The flat reading for last month compares with an advance of 0.3% in June and the consensus on Econoday for another rise of 0.3%. Year-on-year, PPI rose 3.3%, slightly slower than the 3.4% pace of […]

European ADRs Move Lower in Thursday Trading

European ADRs Move Lower in Thursday Trading

American Depository Receipts of European stocks were trading 0.48% lower at 138.03 on the Bank of New York Mellon Europe ADR Index on Thursday. In continental Europe, the gainers were led by geophysical equipment company CGG (CGG), and 3D printer company voxeljet (VJET), which rose 3% and 2.4% respectively. They were followed by gene therapy company Cellectis (CLLS), and marketing […]

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 […]

Party City Plans Amazon Sales With Halloween Season as Earnings, Revenue Just Beat Views

Party City Plans Amazon Sales With Halloween Season as Earnings, Revenue Just Beat Views

Party City (PRTY) will start selling some of its products on e-commerce giant Amazon.com (AMZN), extending online sales from its own website while also reporting slightly better-than-expected results for the second quarter. The Elmsford, New York-based decorations company said it will start the pilot program before this year’s Halloween season and will “initially offer a curated product assortment focused largely […]