morning trading

Snap to lose chief financial officer, its 2nd in a year

Jan 16, 2019—Snap Inc. is getting hit hard in morning trading after the social media company said its chief financial officer is leaving, the second to do so in the past year. In a regulatory filing Tuesday, the company said Tim Stone is leaving to pursue other opportunities. He had joined the Santa Monica, California, … Continue reading Snap to lose chief financial officer, its 2nd in a year

NEW YORK | Wall Street ends higher with help from tech and health care

NEW YORK  — U.S. stocks couldn’t hang on to a big gain Wednesday, but they still finished broadly higher as technology and health care companies rose. That helped reverse some of the market’s big losses from the week before. Stocks initially rallied after the Wall Street Journal reported that China’s government could make changes to … Continue reading NEW YORK | Wall Street ends higher with help from tech and health care

WASHINGTON | US average mortgage rates fall; 30-year loan at 4.75%

WASHINGTON — U.S. long-term mortgage rates fell this week amid a steep decline in stock prices. Continued slides in the stock market and tumbling oil prices have been pushing mortgage rates lower, although home borrowing rates remain much higher than a year ago. Mortgage giant Freddie Mac said Thursday the average rate on the benchmark … Continue reading WASHINGTON | US average mortgage rates fall; 30-year loan at 4.75%

BERLIN | Report: German police search Deutsche Bank offices

BERLIN  — German public broadcaster Hessischer Rundfunk reports that police and prosecutors are searching the headquarters of Deutsche Bank in Frankfurt in connection with money laundering allegations. Hessischer Rundfunk reported that a large number of police officers were involved in the raid early Thursday. It quoted Frankfurt prosecutors saying Deutsche Bank is suspected of helping … Continue reading BERLIN | Report: German police search Deutsche Bank offices

Tech companies, banks pull US stocks lower; Oil up

U.S. stocks have turned lower in morning trading, erasing a modest early rally and extending the market’s losses from a day earlier. Technology stocks and banks were taking some of the heaviest losses, outweighing gains in industrial companies and other sectors. Energy stocks gave up an early gain even as crude oil prices, which have … Continue reading Tech companies, banks pull US stocks lower; Oil up

BENTONVILLE, Ark. | Swallowing $16B purchase of Flipkart, Walmart cuts outlook

BENTONVILLE, Ark. — Walmart trimmed its profit outlook citing this year’s $16 billion acquisition of the Indian online retailer Flipkart, its biggest deal ever. The company said on Tuesday that U.S. online sales growth would slow to 35 percent, from last quarter’s 40 percent growth. Since buying Jet.com for more than $3 billion two years … Continue reading BENTONVILLE, Ark. | Swallowing $16B purchase of Flipkart, Walmart cuts outlook

NEW YORK | Stock indexes end mixed, but tech companies slide further

NEW YORK— U.S. stock indexes found their footing after a sharp early loss Monday and finished mixed. Technology companies sank for the third day in a row. Stocks slumped in morning trading following big declines late last week. Some of the largest losses went to technology companies, including payment and credit card companies. Indexes in … Continue reading NEW YORK | Stock indexes end mixed, but tech companies slide further

Drugmaker Pfizer’s CEO Read to leave in January

The drugmaker Pfizer will replace CEO Ian Read with Chief Operating Officer Albert Bourla in January. Pfizer said Monday that Read will then become executive chairman of the company’s board of directors. The 56-year-old Bourla just became chief operating officer in January. Before that, he served as the head of the company’s Innovative Health business. … Continue reading Drugmaker Pfizer’s CEO Read to leave in January