Tuesday, 30 October 2018

Daily Investor Update: Oil prices down more than 1 percent on rising supply, trade war

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Oil prices down more than 1 percent on rising supply, trade war

Oil prices dropped more than 1 percent on Tuesday on signs of rising supply and concern that global economic growth and demand for fuel will fall victim to the U.S.-China trade war.

Apple spruces up Macs, iPad Pros and raises prices

Apple Inc refreshed some of its lesser-known products at a New York event on Tuesday, adding iPhone features like facial recognition to the iPad Pro and faster processors and better displays to some Mac computers that had gone years without a major update.

EV maker Faraday Future's co-founder Nick Sampson steps down: Verge

Chinese electric vehicle developer Faraday Future's co-founder Nick Sampson has resigned, tech news website Verge reported on Tuesday, a week after the cash-starved company planned pay cuts and layoffs to reduce operational costs.

Wall Street edges back, helped by bargain hunters

Major U.S. stock indexes posted modest gains on Tuesday, helped by gains for chip stocks as investors took advantage of cheaper prices following a steep recent pullback for equities.

Exclusive: Buyout firms Bain, CVC compete for Papa John's - sources

Bain Capital and CVC Capital Partners are among the private equity firms competing to acquire Papa John's International Inc , the world's third-largest pizza delivery company, people familiar with the matter said on Tuesday.

Third Point, Campbell spar over plans for company's future

Investment firm Third Point LLC and Campbell Soup Co squared off over plans for the company's future on Tuesday, with the hedge fund pushing for hiring a "highly qualified" chief executive officer and the company saying it was already searching for a permanent chief.

U.S. leads equities higher on hopes of U.S.-China trade deal

Broad gains in the U.S. equity market turned global stocks higher on Tuesday after President Donald Trump said a "great deal" could be struck with China that would relieve fears of a growing trade war between the world's two largest economies.

Fiat Chrysler's lower cash forecast overshadows special dividend pledge

Fiat Chrysler (FCA) reported better-than-expected third-quarter earnings and promised to pay 2 billion euros ($2.3 billion) in special dividends, but a lower net cash forecast and its over-reliance on the North American market weighed on its shares.

Pfizer revenue worse than expected as generic competition weighs

Pfizer Inc on Tuesday reported worse-than-expected third quarter revenue and lowered the top end of its full-year sales forecast as generic competition and drug pricing pressure in the United States hurt its older drugs business.

Mastercard shares slide as quality of revenue growth disappoints

Mastercard's shares reversed course to fall sharply in afternoon trading on Tuesday as investors worried the company's third-quarter revenue growth was largely being driven by rebates and incentives and not by transaction volumes.

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