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Google Business NewsJan 16, 2018
GE Shares Dive on $6.2 Billion Charge for Problems in Its Finance Unit - Fortune

Fortune


The after-tax charge will be $7.5 billion when adjusted to the rate following the recent U.S. tax overhaul, GE (ge, -5.36%) said Tuesday in a statement. The finance unit, GE Capital, will make statutory reserve contributions of about $15 billion over
GE Takes $6.2 Billion Charge After Being Burned by InsuranceBloomberg
GE shares dive after 'deeply disappointing' $6.2 billion insurance portfolio chargeCNBC
GE slumps after saying it will take a $6.2 billion hit on its insurance business (GE)Business Insider
TheStreet.com -StreetInsider.com -


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USA Compression to buy compression business from Energy Transfer Partners in a $1.8 billion deal (MarketWatch MarketPulse)

MarketWatch MarketPulseJan 16, 2018
Yum China expects to book one-time tax charge of $160 million in Q4
Yum China Holdings Inc., which was spun out of KFC, Taco Bell and Pizza Hut owner Yum Brands Inc. , said Tuesday it is expecting to take a one-time charge of about $160 million in the fourth quarter because of the tax bill signed into law in December. The company said the charge stems from the repatriation tax and re-valuation of deferred tax assets. The company will provide an update on the tax charge on its earnings conference call, scheduled for Feb. 7. Shares were not yet active premarket, but have gained 76% 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.



MarketWatch MarketPulseJan 16, 2018
Amazon's stock jumps toward 10th-straight gain to another record
Amazon.com Inc.'s stock surged 2.2% to another record high, as it heads for the longest win streak in 4 1/2 years, after another analyst price target increase. The stock is on track for a 10th-straight gain--it has gained every session so far in 2018--which would be the longest such streak since the 10-day streak ending July 12, 2013. The stock has rocketed $164.29, or 14%, during the streak, to boost the e-commerce giant's market capitalization by about $79.2 billion to $642.70 billion. On Tuesday, BMO Capital analyst Daniel Salmon raised his stock price target to $1,600, which is the highest among the 48 analysts surveyed by FactSet. Amazon's stock has run up 32.5% over the past three months, while the S&P 500 has gained 9.7%.

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.



RELATED ARTICLES
Amazon stock rises after BMO raises price target to new Street high (MarketWatch MarketPulse)
Dow tops 26,000 as U.S. stocks open at records (MarketWatch MarketPulse)

MarketWatch MarketPulseJan 16, 2018
GM's stock climbs after profit outlook, expected impact from tax reform
General Motors Co. said Tuesday it will take a $7 billion non-cash charge in the fourth quarter to reduce the value of deferred tax assets as a result of the tax reform legislation. Excluding the charge, the auto maker said it expects 2017 adjusted earnings per share at the high end of its guidance range of $6.00 to $6.50, compared with the FactSet consensus of $6.29. The stock surged 2% in premarket trade. Separately, GM said it expects tax reform to be a 'significant benefit' for the company given the positive impact on the long-term cash tax position. The tax reform is also expected to be 'favorable' for the auto industry and consumers, GM said. The stock has lost 3.7% over the past three months through Friday, while rival Ford Motor Co. shares have run up 9.2% and the S&P 500 has gained 8.9%.

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.



MarketWatchJan 16, 2018
Asia Markets: Asian stocks bounce back, with Hang Seng closing at a record
Asian equity markets on Tuesday found their footing after some initial softness, leaving Hong Kong''s benchmark at a record closing high.

MarketWatch MarketPulseJan 16, 2018
Energizer to buy Spectrum Brands' global battery and portable lighting business for $2 billion
Energizer Holdings Inc. said Tuesday it has reached an agreement to acquire Spectrum Brands Holdings Inc.'s global battery and portable lighting business for $2 billion in cash. The deal 'will expand Energizer's presence in a number of international markets, broaden Energizer's product portfolio and manufacturing capabilities, and increase capacity for research and development,' the company said in a statement. The business generate 2017 revenue of $866 million. The deal is expected to modestly boost EPS and free cash flow in the first year after close. Energizer is expecting the deal to close before the end of 2018. Energizer shares were slightly lower in premarket trade, but have gained 7% in the last 12 months, while the S&P 500 has gained 22%. Spectrum Brands shares were not yet active.

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.



Google Business NewsJan 16, 2018
Dow aims for 26000 as Wall Street eyes new milestones - Financial Times

Reuters


Dow 26,000? S&P 2,800? Fresh off the holiday weekend, US equities are ready to rip even higher in to record territory at the start of trading on Tuesday, with earnings season starting to heat up. Futures are pointing to a more than 200 point gain for
Dow near 26000; BP losses; US dollar weaknessCNNMoney
UPDATE: Dow futures rise, setting up blue-chip stocks to blast out record after holidayMorningstar.com
US stocks stood at - 15-01-18Armenpress.am
FX Empire


MarketWatch MarketPulseJan 16, 2018
GE's credit rating affirmed at Fitch, but risk of downgrade increased after insurance charge
Fitch Ratings affirmed General Electric Co.'s A+ long-term issuer default rating, and F1 short-term rating, following GE's announcement that GE Capital will make a reserve contribution of $15 billion to its life insurance businesses over the next seven years. Fitch said the outlook for the rating is negative. Fitch said that while the reserve contribution doesn't immediately affect GE's ratings, 'the action brings GE closer to triggering Fitch's negative rating sensitivities,' as it reduces the value of GE Capital and its long-term capacity to pay dividends to GE. 'Fitch believes there is a risk that additional adjustments to reserves may be required depending on future claims experience,' Fitch said. GE's stock tumbled 4.1% in premarket trade. It has shed 19.7% over the past three months, while the SPDR S&P Insurance ETF has tacked on 1.4% and the Dow Jones Industrial Average has jumped 12.4%.

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.



RELATED ARTICLES
GE to Take $6.2 Billion Charge After Being Burned by Insurance - Bloomberg (Google Business News)

MarketWatch MarketPulseJan 16, 2018
Blackhawk shares surge 23% premarket on news of $3.5 billion buyout
Blackhawk Network Holdings Inc. said Tuesday it has agreed to be acquired by private-equity firm SilverLake and P2 Capital Partners for about $3.5 billion in cash. Shareholders of Blackhawk, which operates a physical and digital gift card and prepaid payments network, will receive $45.25 a share in cash, equal to a 24% premium over Blackhawk's closing share price of $36.50 on Jan. 12. The deal has debt and equity financing, including an about $1.7 billion equity commitment from Silver Lake, and is expected to close by mid-2018. Blackhawk has the right to solicit and receive alternative bids through Feb. 9. Shares jumped 23% after a trading halt was lifted premarket, but have fallen 2.5% in the last 12 months through Friday, 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.



MarketWatch MarketPulseJan 16, 2018
Long Blockchain enters letter of intent to merge with Stater Blockchain
Long Blockchain Corp. said Tuesday it has entered into a 'letter-of-intent' to be acquired by Stater Blockchain in an all-stock deal. Under terms of the deal, Long Blockchain would form a wholly-owned subsidiary that would merge into Stater, with Long Blockchain remaining listed on the Nasdaq Capital Markets after the deal closes. If a deal between Long Blockchain, formely known as Long Island Iced Tea, and Stater is reached, Long Blockchain said it would complement its agreement to acquire cryptocurrency mining rigs. Stater focuses on developing and deploying blockchain technology solutions in the financial markets. Long Blockchain's stock was halted for news pending. At Friday's closing price of $5.02, the company had a market capitalization of about $49 million. The stock has shot up 106% over the past three months, as the company announced it was changing its name to Long Blockchain, while the S&P 500 has gained 8.9%.

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.



MarketWatch MarketPulseJan 16, 2018
UPDATE: Blackhawk shares surge 23% premarket on news of $3.5 billion private-equity buyout
Blackhawk Network Holdings Inc. said Tuesday it has agreed to be acquired by private-equity firms SilverLake and P2 Capital Partners for about $3.5 billion in cash. Shareholders of Blackhawk, which operates a physical and digital gift card and prepaid payments network, will receive $45.25 a share in cash, equal to a 24% premium over Blackhawk's closing share price of $36.50 on Jan. 12. The deal has debt and equity financing, including an about $1.7 billion equity commitment from Silver Lake, and is expected to close by mid-2018. Blackhawk has the right to solicit and receive alternative bids through Feb. 9. Shares jumped 23% after a trading halt was lifted premarket, but have fallen 2.5% in the last 12 months through Friday, 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.



Google Market NewsJan 16, 2018
GE Takes $6.2 Billion Charge After Being Burned by Insurance - Bloomberg

Bloomberg


General Electric Co. surprised investors with a $6.2 billion charge tied to a legacy insurance portfolio, another setback for a manufacturing behemoth already struggling with weak sales in some of its industrial markets. The company's finance unit will
GE Shares Dive on $6.2 Billion Charge for Problems in Its Finance UnitFortune
GE shares dive after 'deeply disappointing' $6.2 billion insurance portfolio chargeCNBC
GE slumps after saying it will take a $6.2 billion hit on its insurance business (GE)Business Insider
TheStreet.com -StreetInsider.com -


Google Business NewsJan 16, 2018
Bitcoin price MANIPULATION: Economists warn just ONE person may have caused value surge - Express.co.uk

Express.co.uk


ONE PERSON may have been solely responsible for the massive surge in the value of bitcoin that saw its value increase from $150 (£108) to $1,000 (£720) in just two months, according to economists. By Dan Falvey. PUBLISHED: 01:02, Tue, Jan 16, 2018
A new study showed how 'one or two' bitcoin traders pushed the price up more than 700%Business Insider Australia



Google Business NewsJan 15, 2018
Dollar fall weighs on global stocks; US shut for holiday - Washington Post

Washington Post


SEOUL, South Korea — Global stock markets were mostly lower on Monday as the dollar weakened across the board, pinching the outlook for export-driven regions like Europe. The U.S. was due to remain closed for a holiday. KEEPING SCORE: Britain's FTSE
Asian Stocks Gain On Wall St. Push, US Dollar Still MiredNasdaq
Asia becomes key market for dollar bond sellersFinancial Times
Historic highs for Asian shares but dollar falls some moreBusiness Day
Hacked -Reuters Africa -


Google Business NewsJan 15, 2018
Fiat Chrysler CEO says no plans to sell brands to Chinese - Reuters

Reuters


DETROIT (Reuters) - Fiat Chrysler Automobiles NV's (FCA) (FCHA.MI) (FCAU.N) has no intention of breaking up the company or selling individual brands to China or other parties, the company's chief executive said on Monday, adding that the group was
FCA Stock Soars As Investors Anticipate Marchionne ActionForbes
Fiat Chrysler won't sell Jeep: CEOPhys.Org
FCA CEO hints at new product for Windsor, says commitment to plant is 'unwavering'CBC.ca
Bloomberg -The Killeen Daily Herald -


MarketWatch MarketPulseJan 12, 2018
Wells Fargo shares slip 1.4% premarket after profit and revenue miss
Wells Fargo & Co. shares slid 1.4% in premarket trade Friday, after the bank posted weaker-than-expected earnings for the fourth quarter. The bank said it had net income of $6.25 billion, or $1.16 a share, in the quarter, up from $5.27 billion, or 96 cents a share, in the year-earlier period. Revenue fell to $22.05 billion from $22.24 billion. The FactSet consensus was for EPS of $1.23 and revenue of $22.45 billion. Earnings were boosted by a net benefit from the tax bill signed into law in December, making Wells Fargo one of few banks not to take a charge. Wells Fargo has a net deferred tax liability instead of a deferred tax asset, which has caused other banks to write down part of their tax liability. The benefit came to $3.35 billion, or 67 cents a share, which was offset by $3.25 billion in pretax charges related to litigation costs. The bank also booked a pretax gain of $848 million related to the sale of Wells Fargo Insurance Services USA. Shares have gained 16% in the last 12 months, while the S&P 500 has gained 21%.

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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