Monday 14 May 2018

Wall St. ekes out gains as trade optimism pressured by defensive stocks

Wall St. ekes out gains as trade optimism pressured by defensive stocks

NEW YORK (Reuters) - Wall Street ended a choppy session slightly higher on Monday as weakness in defensive stocks offset optimism following U.S. President Donald Trump's conciliatory remarks toward China's ZTE Corp that calmed the waters of U.S.-China trade tensions.

Home Depot well placed to withstand 'Amazon effect,' investors say

NEW YORK (Reuters) - Home Depot Inc shares have climbed with the approach of spring weather, as some investors believe the retailer is well positioned to fend off the competitive threat of online retailers as the peak season for home improvement begins.

Trump defends intervention on China's ZTE

WASHINGTON (Reuters) - President Donald Trump on Monday defended his decision to revisit penalties for Chinese company ZTE Corp for flouting U.S. sanctions on trade with Iran, saying the telecom maker is a big buyer for U.S. suppliers.

U.S. to consider expanding Medicare drug price negotiation

WASHINGTON/NEW YORK (Reuters) - The Trump administration is considering expanding Medicare's ability to negotiate the cost of drugs by giving private payers a role in setting the price of medicines administered in hospitals and doctors' offices, Health and Human Services Secretary Alex Azar said on Monday.

U.S. small caps near record highs, outperform larger rivals

SAN FRANCISCO (Reuters) - Wall Street's modestly-sized publicly listed companies are beating out the heavyweights. The Russell 2000 , which tracks U.S. small capitalization companies, on Monday slipped 0.2 percent, but earlier in the session rose to within less than two points of its previous record high of 1,615.5 points.

CBS sues controlling Redstone family in bid for independence

(Reuters) - CBS Corp filed a lawsuit on Monday to reduce the voting power of controlling shareholder National Amusements Inc, the movie theater company owned by Sumner and Shari Redstone, in an act of defiance aimed at thwarting the Redstones' plan to merge CBS with Viacom Inc.

Gaming investors eye jackpot from U.S. sports betting ruling

New York (Reuters) - Shares in gaming and casino companies jumped on Monday, led by Scientific Games Corp , as investors wagered on new business opportunities for the industry after the U.S. Supreme Court paved the way for states to legalize sports betting.

Tesla CEO Musk tells staff he plans 'thorough reorganization'

(Reuters) - Tesla Inc's chief executive officer told employees on Monday the company is undergoing a "thorough reorganization," as it contends with production problems, senior staff departures and two crashes last week involving its electric, self-driving cars.

Russian billionaires take boardroom battle to London High Court

LONDON (Reuters) - Russia tycoon Oleg Deripaska gave evidence in the London High Court on Monday in a case challenging the sale of shares in Norilsk Nickel (Nornickel) by soccer club owner Roman Abramovich.

China says will work with U.S. for positive outcome in trade talks

BEIJING (Reuters) - China said on Monday it is willing to work with the United States for a positive outcome in trade negotiations this week.

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