Saudi Stocks Advance on Higher Oil Prices, Stronger Banks

Saudi Stocks Advance on Higher Oil Prices, Stronger Banks

MidEast shares were mixed, with Saudi Arabia rising on the back of higher oil prices on signs of less tension between Baghdad and Iraqi Kurdistan. Banks also lent support after Alinma Bank said Q3 net profits rose to 542 million riyals ($145 million) from 312 million riyals a year ago and above the average analyst forecast for 493 million riyals. However, weaker Egyptian banks pressured that country’s main index. Investors […]

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Gilts Erase Earlier Losses

Gilts Erase Earlier Losses

Gilts erased earlier losses, and the 10-year cash yield is now down 2.7 basis points on the day. Bund yields declined similarly, and Italian and Spanish bond markets are outperforming, as Eurozone political risks are being discounted. The Austrian election may have produced a shift to the right, but the anti-European Union Freedom Party of Austria will only be a junior coalition partner if anything. Meanwhile, Barcelona and Madrid as […]

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European Stocks Little Changed Ahead of ECB Chief Draghi’s Appearance at IMF Event

European Stocks Little Changed Ahead of ECB Chief Draghi’s Appearance at IMF Event

European equity benchmarks were little changed on Thursday morning, with the pan-European benchmark STOXX 600 index hovering near the flat line for a third straight session as traders awaited comments from European Central Bank (ECB) President Mario Draghi later in the day from a panel discussion organized by the International Monetary Fund (IMF) in Washington. Investors will scrutinize his comments for clues on the ECB’s stimulus plans ahead of a […]

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DXC Technology to Combine US Public Sector Ops With Vencore

DXC Technology to Combine US Public Sector Ops With Vencore

DXC Technology (DXC) said late Thursday it plans to combine its US Public Sector business with Vencore Holding Corporation and KeyPoint Government Solutions to form a separate, independently publicly traded company that will serve US public sector clients. Under the agreement, DXC shareholders will own approximately 86% of the new company and private equity firm Veritas Capital and its affiliates, which own Vencore and KeyPoint, will own 14% and will […]

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Protagonist Therapeutics Prices Offering of 3.5 Mln Shares at 14.2% Discount

Protagonist Therapeutics Prices Offering of 3.5 Mln Shares at 14.2% Discount

Protagonist Therapeutics (PTGX) said late Wednesday it has priced the public offering of more than 3.5 million shares at $17 each, a 14.2% discount to the closing price. The company has also granted underwriters a 30-day option to buy an additional 529,500 shares. Gross proceeds are expected to be $60 million and Protagonist said it plans to use net proceeds to fund clinical research and development of the company’s three […]

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Equities Futures Near Flat After Another Record

Equities Futures Near Flat After Another Record

US equities futures were hovering around unchanged early Thursday after the benchmark indices touched new records Wednesday. Overseas, investors are watching Spain and the fallout from Catalonia’s independence vote. Minutes from the last European Central Bank meeting are released Thursday. The US dollar was off against the euro, the Japanese yen and the Canadian dollar but higher against the pound sterling. – The S&P 500 future was down 0.09% recently, […]

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Organovo Holdings Preliminary Fiscal Q2 Sales Slip From Year Ago & Lag Forecast

Organovo Holdings Preliminary Fiscal Q2 Sales Slip From Year Ago & Lag Forecast

Organovo Holdings (ONVO) reported late Wednesday preliminary fiscal Q2 total revenue is expected to be between $1.3 million and $1.4 million. At the midpoint, this result reflects a 2% decrease from a year ago and a 36% surge sequentially. The average analyst forecast for the sales is $1.46 million. Shares gained 1.5% in after-hours trading. The company said in a statement it sees a strong possibility of one or more […]

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Equities Build on Rallies in US With More Record Highs

Equities Build on Rallies in US With More Record Highs

Markets in the US ended firmer, with gains in all indices sending them to record highs for another day as economic data bolstered investor sentiment and helped reverse earlier losses. Utilities surged 1.1% to post the best increase on the Standard & Poor’s 500, with six of the 11 sectors gaining. On the downside, financials fell 0.3% and energy shed 0.1% as crude oil prices decreased. While the gains weren’t […]

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