Sprint (S) is undergoing a cost-cutting initiative that is expected to save at least $2 billion per year in fiscal 2016. According to the company, it had achieved ~$250 million of savings in operating costs in fiscal 4Q15.
On May 27, Harmony Gold (HMY) had gained a staggering 275% year-to-date.
In 1Q16, Seadrill’s (SDRL) revenue fell to $891 million from $959 million in the previous quarter.
Ionis (IONS) was trading at a forward EV-to-EBITDA valuation multiple of 16.6x, as compared to the industry average of ~19.8x, as of May 29, 2016.
A day before AutoZone’s fiscal 3Q16 earnings release, its stock fell 2.6%. But on the day of the earnings release, it recovered sharply and rose 2.5%.
Crude oil had a volatile trading day on Tuesday, May 31, 2016. At 1:40 PM EDT, WTI crude for July delivery traded at $49.67 per barrel, a gain of 0.67%.
Sam Zell, a real estate tycoon, said in an interview wth CNBC on May 24, 2016, that “the Federal Reserve should have raised interest rates two years ago.”
NetApp’s revenues rose 3.8% YoY (year-over-year) in fiscal 4Q16 but fell 9.4% YoY in fiscal 2016. These results reflected the impact of an uncertain and volatile macroeconomic environment.
The iShares Nasdaq Biotechnology ETF (IBB) outperformed the Market, rising 0.9% before the long weekend.
On April 6, 2016, Medtronic (MDT) received FDA approval for its Micra Transcatheter Pacing System. It’s the first and smallest leadless pacemaker in the market.
In a worrying move for investors, Moody’s Investor Service (MCO) cut Deutsche Bank’s debt and deposit ratings.
PPL Corporation (PPL) turned into a pure-play regulated utility in 2015 and draws more than 60% of its consolidated earnings from operations in the UK.
The Fed’s hawkish tone and repeated references to June as a possible candidate for a rate hike were unexpected by market participants.
Uncertainty surrounding the recovery of coal prices and the enactment of environmental regulations such as the Clean Power Plan impacted coal stocks in 1Q16.
In this series, we’ll analyze the impact of rising Iranian crude oil production, rising oil demand, falling US oil production, and many global factors.
Noble Energy’s (NBL) stock was very volatile in the second half of 2015. However, due to the recent rallies in natural gas prices (UNG) and crude oil prices (USO), Noble’s stock has been on the rise.
Analysts believe Qualcomm (QCOM), Broadcom (AVGO), or Texas Instruments (TXN) will ultimately acquire NXP Semiconductors.
At the end of the fourth week of May 2016, the S&P 500 slightly outperformed the S&P Consumer Staples and the S&P Consumer Discretionary as a whole.
Rumor has it that Xilinx received an acquisition proposal worth $15 billion. Investors reacted to the rumor and boosted Xilinx’s stock by 6.2% on May 24.
Amazon had a 31% share of the cloud infrastructure services market as of 4Q15, while Microsoft, IBM, and Google had shares of 9%, 7%, and 4%, respectively.