Bhinneka News Online: Reuters Daily Investor Update: May 8, 2017

Monday, 8 May 2017

Reuters Daily Investor Update: May 8, 2017

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Monday, May 8, 2017

With eye on millennials, Coach buys Kate Spade

(Reuters) - Handbag maker Coach Inc said it would buy Kate Spade & Co for $2.4 billion as it looks to tap the popularity of its smaller rival's quirky satchels and totes among millennials.

Wall Street ends flat after touching record

NEW YORK (Reuters) - The S&P 500 ended flat on Monday after briefly touching an intraday record, while Wall Street's "fear gauge" dropped to its lowest in over a decade following centrist Emmanuel Macron's victory in the French presidential election.

Global stocks flat, euro down as traders cash in French election bets

NEW YORK (Reuters) - Stocks were little changed and the euro fell on Monday from highs it touched after pro-EU centrist Emmanuel Macron's emphatic and expected victory in France's presidential election as investors cashed in recent gains.

Oil rebounds, as OPEC talks up cutting supply into 2018

NEW YORK (Reuters) - Oil prices rose on Monday in volatile trading, bolstered by statements from major oil-producing countries suggesting that OPEC and non-OPEC supply cuts could be extended into 2018.

Ackman pitches Howard Hughes, citing management and real estate locations

NEW YORK (Reuters) - Billionaire investor William Ackman discussed real estate development company Howard Hughes Corp at the Sohn Investment Conference on Monday, citing strong management and desirable locations as reasons why it should become more valuable over time.

Euro tumbles from six-month peak as Macron win in France spurs profit-taking

NEW YORK (Reuters) - The euro fell from six-month highs against the dollar on Monday after Emmanuel Macron's victory in France's presidential election, as investors took profit on a roughly 3 percent gain for the currency since he won the first round two weeks ago.

Property, merger bets dominate picks at Sohn conference

NEW YORK (Reuters) - Shares in a real estate developer, a cable company and the Canadian creator of the Teletubbies show all rose on Monday after being promoted at an event in New York where hedge fund managers present a diverse range of investment ideas.

Sinclair Broadcast to buy Tribune Media for about $3.9 billion

(Reuters) - Sinclair Broadcast Group Inc said on Monday it would buy Tribune Media Co , one of the largest U.S. television station operators, for about $3.9 billion, giving Sinclair a greater foothold in big broadcast markets like New York and Chicago.

Quebec pension fund withholding support for Bombardier executive chairman

MONTREAL (Reuters) - Canada's second-largest pension fund, a key institutional shareholder in Bombardier Inc, said it has withheld support for the re-election of the company's executive chairman Pierre Beaudoin at its annual general meeting this week.

Buffett: United made 'terrible mistake' with dragged passenger - CNBC

(Reuters) - Warren Buffett said on Monday that United Airlines made a "terrible mistake" in handling the fallout after a man was forcibly dragged off a United flight, a bloody confrontation that sparked global outrage.