Month: May 2022
Morgan Stanley downgrades American Eagle, sees big discounts ahead for the retailer
Shares of American Eagle Outfitters have cratered 48.3% this year, and further downside is in store, according to Morgan Stanley. Analyst Kimberly Greenberger downgraded the retail stock to underweight from equal weight, citing risks to margins and sales. Greenberger also slashed her price target on American Eagle to $8 per share from $22, implying downside […]
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Daiwa double upgrades Zoom, says market retreat presents a good entry point
The recent market sell-off that’s hard-hit the technology sector offers a “good entry point” for shares of Zoom Video , Daiwa Capital Markets said. Analyst Stephen Bersey double upgraded the popular stay-at-home beneficiary to outperform from underperform, saying in a Friday note to clients that the recent pullback in tech presents an excellent opportunity to […]
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Euro zone inflation hits yet another record high as food and energy prices soar
A market in the city center of Bonn, Germany on Feb 5, 2022. Nurphoto | Nurphoto | Getty Images Prices in the euro zone continued their march higher in May, hitting a record high for the seventh month in a row. Inflation came in at 8.1% for the month, according to preliminary figures from Europe’s […]
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Russia hits back at the EU’s partial oil embargo, says it will find other importers for its crude
The EU’s partial embargo covers Russian oil brought into the bloc by sea, with an exemption carved out for imports delivered by pipeline following opposition from Hungary. Attila Kisbenedek | Afp | Getty Images Moscow pledged to find other importers for its oil shortly after the world’s largest trading bloc agreed to impose a partial […]
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Unilever names activist investor Nelson Peltz to board
Nelson Peltz speaking at the 2019 Delivering Alpha conference in New York on Sept. 19, 2019. Adam Jeffery | CNBC Unilever named Nelson Peltz as a board member on Tuesday, as it engages in talks about strategy with the American activist investor who now holds a roughly 1.5% stake in the consumer goods giant. London-listed […]
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EU secures compromise on Russian oil ban; Kremlin claims it now controls a third of key Donbas city
Russian forces claim a third of Sievierodonetsk is now under their control Smoke rises in the city of Sievierodonetsk during heavy fighting between Ukrainian and Russian troops on May 30, 2022. Aris Messinis | Afp | Getty Images Russian forces claimed to have seized control of one-third of the city of Sievierodonetsk, as they continue […]
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Dutch DSM and Swiss Firmenich join forces in cash and shares deal
Dutch specialty chemicals maker DSM on Tuesday said it would merge with Swiss peer Firmenich in a deal involving shares and cash, to become a leading supplier of food ingredients and beauty and well-being products. The companies said the merger, expected to be finalised in the first half of next year, could lead to an […]
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Top crypto firms go on the hunt for acquisition targets as market crashes
Two top cryptocurrency companies, Ripple and FTX, told CNBC that they’re on the lookout for acquisitions as the industry hopes to drive growth through buying other firms. It is a sign that some crypto firms feel that they’re large enough and well capitalized to splash the cash on acquisitions. Brett Harrison, president of cryptocurrency exchange […]
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Malaysia will, barring some caveats, ‘absolutely not’ close its borders again, says health minister
ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via Email Khairy Jamaluddin, Malaysia’s health minister, says the country must send a signal to the world that it’s open for business and isn’t backtracking on that. Source
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Indian and Chinese stock markets could grow fourfold by 2050, Abrdn CEO says
A guard walks past the National Stock Exchange building in Mumbai, India, on February 9, 2018. Danish Siddiqui | Reuters Indian and Chinese stock market capitalization may grow fourfold by 2050 as Asia turns from “laggard to leader” in the climate transition, according to Abrdn CEO Stephen Bird. In a letter seen by CNBC marking […]
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