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Google Business NewsNov 15, 2018
Billionaire investor Ray Dalio: Fed raised rates to a point where it's hurting asset prices - CNBC


Hedge fund billionaire Ray Dalio argued Thursday that the Federal Reserve has raised rates to a point where they're hurting asset prices. The central bank needs to start looking at monetary policy's impact on asset prices before economic conditions

MarketWatch MarketPulseNov 15, 2018
Energizer to buy Spectrum's auto care business for $1.25 billion, amends deal to buy battery business
Energizer Holdings Inc. announced Thursday a deal to buy Spectrum Brands Holdings Inc.'s global auto care business in a cash and stock deal valued at $1.25 billion. Spectrum's stock was up 0.7% in premarket trade, while Energizer' stock was still inactive. The battery maker also said it has amended its agreement with Spectrum regarding the proposed $2.0 billion acquisition of Spectrum's battery and portable lighting business, and proposed a remedy to the European Commission's concerns over the acquisition. Energizer said its proposal to the EC includes divesting the Europe-based Varta consumer battery business, which would reduce the expected purchase price to $1.4 billion to $1.5 billion. The purchase of the auto care business will be financed through $938 million in cash and $312 million worth of newly issued shares. Earlier, Energizer reported a fiscal fourth-quarter profit that topped expectations but sales that missed. Energizer's stock has rallied 17% year to date through Wednesday, while Spectrum shares have plunged 39% and the S&P 500 has gained 1.1%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit for more information on this news.

Spectrum Brands to sell global auto care business to Energizer for $1.25 bln (Reuters Company News)
Ashland Global to sell composites business for $1.1 billion (Reuters Company News)

MarketWatch MarketPulseNov 15, 2018
Dell Technologies sweetens offer for tracking stock
Dell Technologies Inc. said Thursday it is sweetening its proposed offer to buy out an affiliate and return to public markets, after facing strong pushback from shareholders. The company said shareholders of DVMT, which is meant to track Dell's stake in the fast-growing VMware Inc. software unit, will now be offered $120 in cash, subject to a cash cap of $14 billion, or 1.5043 to 1.8130 Class C shares for each share owned. The move increase the aggregate implied value to Class V shareholders by about $2.2 billion, the company said in a statement, confirming an earlier report in the Wall Street Journal. The company has binding agreements to vote in favor of the sweetened deal from Dodge & Cox, Elliott Management, Canyon Partners and Mason Capital Management, which between them own about 17% of the Class V common stock. "Given there will be no public market for Dell Technologies Class C shares prior to closing, the variable exchange ratio is specifically designed to provide protection to Class V stockholders on the value of the Class C stock consideration," said the statement. The $120 implied value per share implies a market cap of $23.9 billion for the tracking stock. The Class V shareholders will end up owning about 17% to 33% of Dell Technologies, depending on the cash and stock elections and final exchange ratio. The company will fund the sweetened offer with debt financing. It will further enhance governance rights for the Class C shareholders by allowing them to elect one director starting at the company's 2020 annual meeting. The vote for the deal is still scheduled for Dec. 11 and is expected to close by year-end. Shares rose 1.1% premarket and have gained 30% in 2018, while the S&P 500 has gained 1.1%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit for more information on this news.

MarketWatchNov 15, 2018
Key Words: Fed rate hikes are now ‘hurting asset prices,' says billionaire investor Ray Dalio
The Federal Reserve has raised interest rates to a level that's now starting to put the bite on asset prices, says billionaire investor Ray Dalio in a television interview on Thursday.

MarketWatch MarketPulseNov 15, 2018
UPDATE: Dillard's profit falls in 'disappointing' quarter, stock falls 8% premarket
Dillard's Inc. shares slid 8% in premarket trade Thursday, after the company missed profit estimates for its latest quarter and said discounts weighed on margins. The department store chain said it had net income of $7.4 million, or 27 cents a share, in its fiscal third quarter to Nov. 3, down from $14.5 million, or 50 cents a share, in the year-earlier period. Sales rose to $1.419 billion from $1.355 billion. The FactSet consensus was for EPS of 56 cents and sales of $1.397 billion. Same-store sales rose 3% to beat the FactSet consensus of 1%. "While we are encouraged by our 3% comparable sales performance, this was a disappointing quarter as markdowns weighed heavily on gross margin, particularly in the first month," Chief Executive William Dillard said in a statement. "However, operating performance improved as the quarter progressed and sales turned positive." Shares have gained 22.9% in 2018 through Wednesday's close, while the S&P 500 has gained 1.1%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit for more information on this news.

MarketWatchNov 14, 2018
Key Words: Billionaire investor Steve Cohen sees a bear market heading our way
All good things come to an end. And in case you've forgotten — understandable, given the longevity of this bull run — that also applies to the stock market. Steve Cohen, the billionaire hedge-fund investor, is the latest high-profile Wall Street player to remind us the boom times have a shelf life.

Automotive News Breaking NewsNov 14, 2018
Uber revenue slows as quarterly loss surges to $1.1 billion
Uber's sales are dramatically slowing even as the ride-hailing company is spending more to fuel global growth, particularly in its food delivery business.

Google Business NewsNov 14, 2018
Uber posts $1 billion loss in quarter as growth in bookings slows - Reuters


SAN FRANCISCO (Reuters) - Uber Technologies Inc said on Wednesday that growth in bookings for its ride-hailing and delivery services rose 6 percent in the latest quarter, the third quarter in a row that growth has remained in the single digits after ...

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