The founder and chief executive of India’s largest digital payments company has barely slept and is nursing a head cold. Having just arrived at Paytm’s office, Vijay Shekhar Sharma discovers the coffee machine is broken.
Month: January 2017
Carlyle Said to Target $5 Billion for New U.S. Real Estate Fund
Carlyle Group LP is preparing to raise an eighth U.S. real estate fund in the first half of 2017, people with knowledge of the matter said. The Washington-based private equity firm is planning to target $5 billion for the pool, said the people, who asked not to be identified because the information is private.
Rates fall at weekly US Treasury bill auction
Interest rates on short-term Treasury bills fell in Monday’s auction, with rates on six-month bills dropping to their lowest level since early November. The Treasury Department auctioned $34 billion in three-month bills at a discount rate of 0.510 percent, down from 0.530 percent last week.
Kuwait Says Saudi Arabia to U.A.E. Complying With Oil Cuts
Oil producers from Saudi Arabia to the United Arab Emirates are complying with production cuts promised last year to stabilize the market, Kuwait’s governor to the Organization of Petroleum Exporting Countries said. Qatar, Kuwait and Oman are also complying, having announced cuts to customers, Nawal Al-Fezaia, Kuwait’s OPEC governor, said in an interview Monday in Kuwait City where OPEC’s Secretary General Mohammad Barkindo is scheduled to have talks on the cuts with Kuwait Oil Minister Essam Al-Marzouk and other officials.
Trump, Ryan Set the Stage for Tax Reform Overhaul
U.S. House of Representatives Speaker Paul Ryan will meet on Monday with top members of President-elect Donald Trump’s transition team to discuss their 2017 tax reform agenda, a senior Republican aide said. Ryan and his policy staff are expected to walk the Trump team members through the “Better Way” tax reform blueprint that the speaker and other House Republican leaders unveiled last June, the aide said.
Yahoo’s Marissa Mayers to resign from board after Verizon deal closes
Yahoo CEO Marissa Mayer delivers her keynote address at the annual Consumer Electronics Show (CES) in Las Vegas, Nevada in this January 7, 2014, file photo. REUTERS/Robert Galbraith/Files (
Yahoo Leftovers Will Be Called Altaba, Mayer Will Not Be On Board
Yahoo Inc. disclosed Monday afternoon that the entity that remains after its merger with Verizon Inc. will be called “Altaba,” and current Chief Executive Marissa Mayer will not be on the board. In a filing with the Securities and Exchange Commission , Yahoo said that the new company — which consists of Yahoo’s remaining investment in Alibaba Group Holding Ltd. and Yahoo Japan, as well as cash and a few other assets — will only need five board members, and Mayer as well as Yahoo cofounder David Filo will not be among them.
Willams Cos. Raises Dividend By 50%
Williams Cos. said late Monday it would increase its dividend by 50% to 30 cents a share, payable March 2017, adding it would target a 10%-15% annual growth “over the next several years.”
Why Under Armour Inc. Stock Lost 28% in 2016
Shareholders at one point in the year were up more than 15%, but those gains gave way to minor losses, which then spiraled into a significant calendar-year decline. Zooming out, the stock is still soundly beating the market over the trailing three-year, five-year, and 10-year time frames.
Why Home Depot Inc Gained Just 1% in 2016
The performance gap meant that the retailer was one of the worst stocks on the blue chip index in 2016. That weak outing came even as revenue, earnings, and profitability all set record highs and as Home Depot widened its market share lead over its biggest national competition, Lowe’s .
Why Ariad Pharmaceuticals, VCA, and Exact Sciences Jumped Today
The stock market started the new week on a sluggish note Monday, and the broadest-based market benchmarks gave up ground as the Dow fell further away from the 20,000 mark. Even though the Nasdaq Composite climbed to new highs, a $2 per barrel plunge in the price of oil to fall below $53 weighed on sentiment.
T-Mobile Expects to Have More Phone Customers Than AT&T Within 5 Years
He spouted off numbers like 2.1 million total net adds, 1.2 million postpaid net adds, and 933,000 postpaid phone net adds. But the most interesting thing he said, in my opinion, is that he expects to overtake AT&T If he had said something similar when he took over as CEO of T-Mobile four years ago, nobody would have believed him.
Nasdaq Notches New All-time High; S&P 500, Dow Retreat
The Nasdaq Composite closed at a record on Monday after modest gains, but broader markets retreated, led by declines in energy and so-called defensive sectors. A sharp drop in crude-oil prices sent energy shares lower, down 1.4%.
Intel Corporation PC Chief Talks Manufacturing Strategy
These chips, as would be expected, deliver improved performance and power efficiency relative to the company’s sixth-generation Core processor family. What is interesting about these chips is that they represent a third wave of products manufactured in the company’s 14-nanometer manufacturing technology, which was first used to build the company’s fifth-generation Core processors.
ICU Medical Shares Keep Climbing As BlackRock Ups Stake To More Than 10%
ICU Medical Inc. shares continued climbing in the extended session Monday after BlackRock Inc. disclosed earlier it had increased its stake in the medical device maker to more than 10%. ICU Medical shares surged 15% to $158.05 after hours, after closing up 4.3% in the regular session.
IBM Is Betting Its Future on AI
Since Ginni Rometty started as CEO in January of 2012, IBM has had 18 consecutive quarters of year-over-year declining revenue– essentially every quarter of her tenure. The stock has lost nearly 10% compared with a gain of 78% for the S&P 500 over the last five years.
Cray Expects To Be Profitable In 2016 But Refrains From Providing 2017 Outlook
Cray Inc. on Monday said it expects to be profitable in 2016 on both adjusted and GAAP basis but did not provide an earnings outlook for 2017 due to a “lack of visibility for the year.” However, it projected 2016 revenue of $630 million, which fell short of $633.3 million projected by analysts in a FactSet survey.
Barracuda Networks Shares Rally After Earnings Beat
Barracuda Networks Inc. shares rallied in the extended session Monday after the cloud-computing company topped Wall Street estimates for the fiscal third quarter. Barracuda shares surged 7.2% to $25.47 after hours.
SUVs help BMW to record 2016 sales year
Luxury carmaker BMW AG had a record sales year in 2016, delivering 5.3 percent more vehicles as its line of SUVs boosted results despite declining sales in the U.S. Sales rose to 2.37 million for the company, which besides BMWs, makes Mini and Rolls-Royce cars. Important markets were China, where sales rose 11 percent, and Europe.
Marchionne Suggests Trump Might Support Merger With Rival GM
Sergio Marchionne, chief executive officer of Fiat Chrysler Automobiles NV, suggested that President-elect Donald Trump might support the idea of General Motors Co. merging with his company.
UnitedHealth Branches Out With $2.3 Billion Surgical Care Deal
The U.S.’s biggest health insurer, UnitedHealth Group Inc., will buy Surgical Care Affiliates Inc. for about $2.3 billion, adding an outpatient surgery chain to its growing health care-delivery business. UnitedHealth will pay $57 a share, with with 51 percent to 80 percent of that in stock and the rest in cash, the companies said in a statement.
Oil Falls as Growth in U.S. Drilling Offsets OPEC Output Cuts
Oil fell for the first time in four days as rising U.S. drilling activity fanned speculation that OPEC production cuts could boost North American output. Futures dropped as much as 3.2 percent in New York.
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President-elect Donald Trump has not been shy about taking on major corporations on Twitter — and it’s forced companies to take action. (
Why VCA Inc Stock Popped Today
Mars will pay $7.7 billion, or $93 a share for VCA in a deal valued at $9.1 billion when the animal hospital chain’s $1.4 billion in debt is factored in. The agreement has been unanimously approved by directors of both companies, and VCA will join Mars’ Petcare division, which includes veterinary services like Banfield Pet Hospital, Bluefield, Pet Partners, and several animal nutrition brands.
Why Surgical Care Affiliates Inc Operated Higher Today
UnitedHealth is best known as a health insurer, but the company also operates doctors’ offices and other healthcare services, such has urgent care facilities, through its OptumCare division. Buying Surgical Care Affiliates will add 205 surgical facilities to its offerings.
Why Francesca’s Holdings Corp. Stock Popped Today
Specifically, Francesca’s now expects revenue in its fiscal fourth quarter — with ends Jan. 28 — to be in the range of $144 million to $146 million — narrowed from previous guidance, which called for $143 million to $148 million — assuming comparable sales ranging from a 1% decline to a 1% increase year over year. On the bottom line, that should translate to diluted earnings per share of $0.35 to $0.37.
Why 3D Systems’ Stock Soared 53% in 2016, Even as the Company Was Unprofitable
Moreover, 2016 was the first year since 2013 that 3D Systems’ stock has closed out a year with a gain. The stock of the industry’s largest player, along with most others in the group, was slaughtered in 2014 and 2015, falling 90.6% during this two-year period.
Top Biotech Resolutions for 2017
The industry remains under scrutiny because of pricing decisions, pipeline failures, and profit concerns. What can top stocks like Gilead Sciences In this episode of The Motley Fool’s Industry Focus: Healthcare podcast, analyst Kristine Harjes is joined by Todd Campbell to offer up some resolutions they’d like biotech’s C-suite to stick to in 2017.
These 5 Oil Stocks Were Smoking Hot in December
Oil prices ended 2016 on a high note, rising more than 8% for the month of December, capping a year where crude jumped nearly 45%. That rising oil market ignited a rally in several oil stocks last month.
Sell Dow Stocks Coke And Procter & Gamble, Says Goldman Sachs
The stocks of Coca-Cola Co. and Procter & Gamble Co. , both components of the Dow Jones Industrial Average , both slumped about 1% in morning trade Monday, after Goldman Sachs analysts turned bearish on the consumer staples giants.
Is MannKind Corp. Ready to Rebound in 2017?
The drugmaker’s titanic plunge was catalyzed by the termination of itslicense and collaboration agreement with Sanofi for inhaled insulin product Afrezza last April. Sanofi decided to end the partnership with MannKind because of Afrezza’s unexpectedly weak launch that produced a grand total of $5.2 million in net sales during the first nine months of 2015.
Here’s Why Merrimack Pharmaceuticals Inc. Fell 47.3% in 2016
Investors in the cancer-focused biotech had to stomach a 47% decline during the year, according to data from S&P Global Market Intelligence . That was a far worse decline than the 17% pullback that was rung up by the First Trust NYSE Arca Biotech ETF As the chart above indicates, Merrimack’s stock gave its investors a wild ride during 2016.
Dollar Falls Against Yen on Risk Reduction; Sterling Sinks
The U.S. dollar slumped against the safe-haven yen on Monday on investors’ reduced appetite for risk, while sterling sank to more than two-month lows on talk that Britain would drastically rework trade ties with the European Union after Brexit. A fall in U.S. Treasury yields and U.S. stocks drove the dollar down as much as 0.6 percent against the yen to a session low of 116.16 yen.
Czech Republic, Slovakia to cooperate on guarding air spaces
The Czech Republic has approved a plan for Czech and Slovak air forces to cooperate in protecting air spaces over the two neighboring countries that once formed Czechoslovakia. The Czech Defense Ministry says the protection both the Czech Republic and Slovakia already receive as NATO members is effective only for military threats.
Banks, Oil Stocks Hinder Dow’s Pursuit of 20,000
Declines in bank and energy companies weighed on Wall Street on Monday, distancing the Dow from the 20,000 mark, while gains in technology stocks pushed the Nasdaq to a record intraday high. Two-thirds of the 30 Dow components were lower, with Goldman Sachs’s 0.7 percent decline weighing the most.
Bank of Americas Biggest Wildcard for 4Q Earnings
In fact, that’s only half its identity; it’s also an investment bank with a sizable presence on Wall Street. Being a so-called universal bank is good for Bank of America because it diversifies its revenue streams.
Anna Johnson named regional news director for US West
In this Friday, Jan. 6, 2017, photo, Anna Johnson poses for photo at her office in Phoenix. The Associated Press has named Johnson as regional news director for the west, a new position overseeing AP’s journalism and news operations across formats in … 13 western states.
7 Growth Investing Tips That Could Earn You Thousands
Successful growth investing entails identifying those elite businesses that are poised to deliver many years of consistently strong increases in revenue and profits. Companies that do tend to reward their shareholders with market-crushing returns.
It’s been 10 years since the iPhone debuted – look how…
Full websites didn’t run on mobile phones, so companies were forced to build weak, mobile versions of their sites. And yet, the typical smartphone experiences we all enjoy today didn’t happen overnight.
UnitedHealth Agrees to Buy Surgical Care for $2.3 Billion
UnitedHealth Group Inc. agreed to buy Surgical Care Affiliates Inc. for about $2.3 billion in cash and stock to add an outpatient surgery chain that will help the biggest U.S. health insurer diversify its business. UnitedHealth is paying $57 a share, with 51 percent to 80 percent of that in stock and the rest in cash, the companies said in a statement Monday.