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 U.S.-listed shares of China brand and marketing company Acorn International Inc. slid 10% Tuesday, after its executive chairman said he was pulling an offer for the company made in November because of risks relating to the coronavirus. Robert Roche said in a letter to the Shanghai-based company that he and shareholders of a buyer vehicle were not willing to pursue a $19.50 per American Depositary Share offering made in a Nov. 4 letter. The parties are willing to continuing talks with a special committee formed to review the offer. "No additional terms or proposals have been discussed at this time and there can be no assurance that negotiations will continue or that a revised offer will be made, that any agreement related to the Acquisition will be reached, or that the Acquisition or any other similar transaction will be consummated," said the letter. Shares have fallen 42% in the last 12 months, while the S&P 500 has gained 22%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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 Gold surged over 1% on Tuesday to fetch
more than $1,600 an ounce as Apple Inc's surprise
warning about the impact of the coronavirus outbreak fueled
concerns about global economic weakness, driving investors to
lower-risk assets.
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Cities have been locked down, logistics and the movement of people hampered, and consumer demand dented, leaving companies—both Chinese and foreign—grappling to resume operations.
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 U.S. stocks dropped on Tuesday after a surprise sales warning from technology bellwether Apple fanned worries about the impact of the coronavirus outbreak on global supply chains.
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* Apple will miss quarterly revenue target due to
coronavirus
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President Trump said he would support the continued export of U.S.-made jet engines to China, taking sides in a dispute within the administration about restricting high-tech exports over piracy concerns.
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Shares of Macy's Inc. took an midday dive Tuesday, after S&P Global Ratings downgraded the department store chain's credit to "junk" status, citing a weaker profitability outlook after the company unveiled its three-year strategic plan. The stock was down 3.9%, after being down about 1.4% prior to the downgrade. S&P cut its rating one notch to BB , which is the highest speculative grade rating, from BBB-. The rating's outlook is stable. S&P said Macy's three-year "Polaris" plan, which includes a significant reduction of the store network, focus on growth in private label brands and off-price stores and cost cutting, has "considerable" execution risks. "While we believe management's strategic plan is a necessary step toward rightsizing the enterprise, it demonstrates to us that the company's competitive advantage has diminished more than we expected, and to a point that we no longer believe is consistent with an investment-grade rating," S&P wrote in a research note. "We now project operating performance will deteriorate over the next several quarters, with declines in comparable same-store sales." Fellow rating agencies Moody's Investors Service rates Macy's at Baa3, the lowest investment-grade rating, and said last week that the strategic plan was "credit positive." Macy's stock has lost 5.1% over the past three months, while the SPDR S&P Retail ETF has eased 0.1% and the S&P 500 has gained 7.8%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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Walmart Inc on Tuesday forecast
online sales growth to slow this year after posting
lower-than-expected holiday quarter results, revealing the
pressure traditional retailers are facing to keep pace with
consumers who are increasingly shopping online.
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"The fact is if the economy grows, energy demand is going to grow," Cooperman told CNBC.
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U.S. stocks opened lower on Tuesday as traders returned from the long holiday weekend to see Apple's statement that it would miss its guidance due to COVID-19, which has kept Chinese workers at home and away from factory floors. The S&P 500 fell 0.3% to 3,370. The Dow Jones industrial Average shed 109 points, or 0.4%, to 29,286. The Nasdaq Composite was down 0.3% to 9,701. On Friday, the S&P 500 and Nasdaq closed at records. Investors are increasingly sensitive to signs that the coronavirus outbreak could disrupt global supply chains, as Chinese factories struggle to return to full-capacity after the Lunar New Year holidays. Apple Inc. warned that it would miss its second-quarter guidance due to the coronavirus. In other news, Franklin Resources , the holding company for Franklin Templeton, said it was buying asset manager Legg Mason.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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Michael Bloomberg is proposing a financial transactions tax of 0.1 percent and merging Fannie Mae and Freddie Mac as part of a proposal for regulating Wall Street for a financial system "strong enough to weather crises without harming the broader economy or requiring taxpayer bailouts."
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Chinese telecoms company takes more aggressive stance in US
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GDI earnings call for the period ending December 31, 2019.
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 What Apple, Walmart and other companies are saying about coronavirus outbreak
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 Renaissance Technologies, added more than 3 million shares of Tesla to its holdings in the fourth quarter of last year, as the electric-vehicle maker's shares catapulted higher, according to public filings.
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As investors crunch numbers to determine how the coronavirus will hit China's economy, hedge fund manager Nathaniel Polachek has tied much of his outlook to the fate of a ship anchored near Weihai, China.
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Item 1.01: Entry into a Material Definitive Agreement
Item 8.01: Other Events
Item 9.01: Financial Statements and Exhibits
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 As coronavirus fears run rampant throughout the world, investors are turning to Wall Street titans for guidance, namely Ray Dalio. Founding hedge fund Bridgewater Associates in 1975, the firm now boasts $160 billion worth of assets under management, with Dalio alone estimated to be worth $18.7 billion.Dalio, who has looked at the impact of past pandemics and virus outbreaks on the market, called the current reaction to the coronavirus overblown, noting that the concerns "probably had a bit of an exaggerated effect on the pricing of assets because of the temporary nature of that..." He added, "It most likely will be something that in another year or two will be well beyond what everyone will be talking about."While the billionaire does acknowledge that it's difficult to gauge what the full extent of the virus will be, he argues that diversifying across currencies, asset classes and geographical regions could prove to be the best strategy. Additionally, Dalio believes investors should pay attention to issues related to wealth and political gaps, the emergence of China, technology and the environment that could emerge from the public health crisis."What concerns me most if you did have a downturn -- we are now 11 years in expansion -- whether that's one, two, three years forward, with the larger polarity that exists, the wealth gap and the political gap," Dalio commented.Looking into Bridgewater's basket of stocks, we've chosen three of the fund's new holdings that TipRanks' Stock Screener reveals as "s
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Latin American stocks and currencies
slipped on Tuesday, after Apple Inc's sales warning
stoked worries of how the coronavirus outbreak in China could
affect companies and global supply chains.
The world's most valuable technology company said it will
miss its March quarter
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Asset manager Franklin Resources Inc
said on Tuesday it would buy rival Legg Mason Inc
in a $4.5 billion deal as it looks to navigate through the
changing preferences of investors for low-cost index tracking
funds.
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Michael Bloomberg unveiled a raft of proposals to strengthen oversight of lenders and protect consumers, a move that positions the billionaire former New York City mayor closer to the rest of the Democratic presidential field.
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HSBC's Headless Restructuring Plan The Wall Street JournalHSBC plans to cut 35,000 jobs as profit drops 33% CNNHSBC to Fire as Many as 35,000 msnNOWHSBC Is No Man's Land for Quinn or Anyone Else BloombergHSBC net profit falls 53%, bank to sell assets
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Huge factory complex struggles to move to full production after extended holiday for lunar year
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As of Tuesday, more than 73,400 cases of the coronavirus have been confirmed, including at least 1,874 deaths.
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Save on leather iPhone cases, the 16-inch MacBook Pro, and more The VergeApple Signals Coronavirus's Threat to Global Businesses The New York TimesApple revenue will be hit as coronavirus creates iPhone supply shortages, company warns CNNApple Is Handcuffed to the iPhone. Just Like Its Customers Bloomberg
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Carmaker has enough components to continue UK production for only two weeks
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Apple is reportedly still gearing up for a late March special event to introduce the much-expected iPhone 9, though production of any new iPad Pro models may have been affected by the coronavirus pandemic.
Calling change in a spooky market
In January, a report claimed a March launch for the device. More recently, Germany's iPhone-ticker.de said Apple intends to host the event on March 31, with the iPhone 9 (or iPhone SE2, as some call it) set to ship April 3. This was followed by a report from Bloomberg, which said Apple is still going for a March launch, but warns the plans may change.
To read this article in full, please click here
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Walmart Inc forecast slowing online growth for the year on Tuesday after reporting weak results for the holiday quarter that suggested it was leaking sales to Amazon.com.
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Find out why the Amazon founder is giving away $10 billion.
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The brick and mortar shopping venue continues to reconfigure itself in a way that tightens its focus and raises cash.
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Coronavirus 20 times more deadly than the flu? Death toll approaches 2,000 USA TODAYLiu Zhiming, hospital director in Wuhan, confirmed dead from coronavirus New York Post Hospital director dies in Wuhan as China designates dead nurses and doctors as 'martyrs' CNNChina sees fall in coronavirus deaths but WHO urges caution ReutersLive updates: D
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Jaguar Land Rover (JLR) has flown Chinese parts in suitcases to Britain to maintain production and could run out after two weeks as the impact of the coronavirus outbreak hits firms across countries and industries.
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 Stop, look, and listen before you go hiring a design firm.
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In an Instagram post, Bezos explained how saving the earth is the one thing we all agree about.
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 Kroger, Alibaba, Bed Bath & Beyond and Apple are the companies to watch.
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Oil fell below $57 a barrel on Tuesday, pressured by concerns over the impact on crude demand from the coronavirus outbreak in China and a lack of further action by OPEC and its allies to support the market.
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'Did you hear the latest con job?': Trump and Obama spar over who should get credit for robust US economy Business InsiderTrump fires back after Obama claims credit for economic boom: 'Con job' Fox NewsBiden's Stuck Between Barack and a Hard Place RealClearPoliticsObama pushes Trump's button on economy. Trump responds: ‘Did you hear the latest con job?' The Washington Post
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 (Bloomberg) -- Bill Gates paid Tesla Inc. a compliment for coaxing the car industry to go electric. If he was expecting kind words in return from Elon Musk, he apparently shouldn't have spoken about challenges that still lie ahead -- or about his new Porsche.Gates, the billionaire co-founder of Microsoft Corp., spoke with a YouTube influencer last week about the challenges of reducing emissions to slow climate change. He called the passenger-car industry "one of the most hopeful" sectors taking action in this regard."And certainly Tesla, if you had to name one company that's helped drive that, it's them," Gates told YouTuber Marques Brownlee.Then Gates discussed recently buying a Porsche Taycan. While he called the electric sports car "very, very cool," he acknowledged its premium price -- the initial Turbo S models start at $185,000 -- and said consumers still have to overcome anxieties about EVs offering limited range and taking longer to recharge. Gasoline-powered cars travel longer between quick refuels at stations that outnumber charging points.When a Tesla enthusiast posted about being disappointed in Gates's decision to buy a Taycan instead of a Tesla and his comments about range anxiety, Musk replied: "My conversations with Gates have been underwhelming tbh."Musk, 48, is of course no stranger to tweeting dismissively about fellow billionaires. The Tesla chief executive officer questioned Facebook Inc. CEO Mark Zuckerberg's understanding of artificial intelligenc
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‘Senior changes coming' at commodities trader, says chief Glasenberg
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A new international survey sheds light on the news consumption habits of Americans and Europeans, with some sobering implications for content sites and advertisers.
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The London-based bank aims to cut $4.5 billion in costs and scale back its Western operations.
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Investors appear to be taking profits off the table after the biotech's positive Q4 update.
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 Democratic presidential candidate Mike Bloomberg unveiled a plan on Wednesday to crack down on Wall Street.
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Walmart saw weak demand for toys, apparel and video games during the holiday season.
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Fluor Corp said on Tuesday the
U.S. Securities and Exchange Commission (SEC) is investigating
the engineering and construction firm's past accounting and
financial reports for possible errors, sending its shares down
8.7% before bell.
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A spokeswoman for Mike Bloomberg told the New York Times he will push for a financial transactions tax of 0.1% and a merger of housing finance giants Fannie Mae and Freddie Mac . The plan, which the Democratic presidential candidate is set to unveil, will also call for toughening the Volcker Rule and having the Justice Department create a dedicated team to fight corporate crime. Bloomberg's fortune has come through his eponymous Bloomberg LP service that caters to Wall Street clients.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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Japan to trial HIV medications on coronavirus patients Fox NewsWhy did US break Diamond Princess coronavirus quarantine? 'Something went awry' USA TODAYJapan to start trials using HIV treatment for coronavirus: Suga ReutersCoronavirus: Americans from quarantined cruise ship flown from Japan - BBC News BBC NewsCoronavirus cases nearly doubl
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 Dairy Farmers of America agreed to buy a "substantial" part of Dean Foods, the largest U.S. milk producer, for $425 million.
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