International Industries
add2e438-a213-482e-a519-5dc7771d5549 How Boeing's 737 MAX Troubles Ripple Through the Industry 4:36
94be2b00-913b-4aab-a4f6-249f70a43a5a How AI can take the guesswork out of farming 2:57
c1019e64-3bdb-45b4-82ac-8fecee73e826 China Puts Further Pressure on Boeing Amid Its 737 MAX Woes 2:34
d3d1c00e-7b9d-4231-a88e-7ff7be0487df Huawei Sues the U.S. for Restricting Business With Federal Agencies 2:28
2:12 p.m. Today2:12 p.m. July 15, 2019 - Associated Press
SpaceX identifies problem that caused April explosion during crew-capsule test Leaky valve blamed; astronauts unlikely to fly in capsule this yearA leaky valve caused a SpaceX crew capsule to explode during a ground test back in April, destroying the spacecraft and dealing a blow to the company's effort to launch astronauts.
Containerboard stocks fall after KeyBanc cuts ratings on 4 companies to underweight
10:50 a.m. Today10:50 a.m. July 15, 2019 - By Tomi Kilgore
Containerboard stocks fall after KeyBanc cuts ratings on 4 companies to underweightShares of containerboard companies fell Monday, after KeyBanc Capital analyst Adam Josephson turned bearish on several companies in the sector, as industry fundamentals continue to deteriorate. Shares of WestRock Co. fell 2.7%, Sealed Air Corp. shed 2.2%, Packaging Corp. of America slumped 2.2% and International Paper Co. slid 1.0%. The stocks were the four-biggest decliners within the SPDR Materials Select Sector ETF , which edged up 0.1%. Josephson cut his ratings on all four companies to underweight from sector weight. Although containerboard fundamentals are "worse now than in recent years," Josephson said valuations are now lower than in line with historical averages. That suggests consensus estimates for the companies have further room to fall, which suggests the stocks are more likely to underperform over the next 9 to 12 months. The stocks' selloff comes as the materials ETF has climbed 15.7% year to date, while the S&P 500 has gained 20.1%.
With trade tensions escalating, here are 5 things to know about this earnings season
8:17 a.m. Today8:17 a.m. July 15, 2019 - By Tomi Kilgore
With trade tensions escalating, here are 5 things to know about this earnings season Investors should brace for some bad news with all signs suggesting we are entering an earnings recessionThe second-quarter earnings season will kick off in earnest next week, and investors should brace for bad news with all signs signaling a second straight decline that will confirm an earnings recession.
Netflix earnings: No more 'Friends,' but plenty of new enemies are on the way
7:28 a.m. Today7:28 a.m. July 15, 2019 - By Jon Swartz
Netflix earnings: No more 'Friends,' but plenty of new enemies are on the way Big-name rivals plan new streaming services, and are taking back their content from Netflix to competeIt's the calm before the competitive storm when streaming video giant Netflix Inc. is scheduled to report second-quarter financial results Wednesday after the market's close.
IBM earnings: What's the plan for Red Hat?
6:37 a.m. Today6:37 a.m. July 15, 2019 - By Emily Bary
IBM earnings: What's the plan for Red Hat? IBM won't update Red Hat outlook on earnings call but might still information about the acquisitionInternational Business Machines Corp. has hailed its acquisition of Red Hat as a "game-changer," but now it's time for the tech giant to prove itself.
Teva and Endo Are Falling Because Opioid Suits Aren't Going Away
6:19 a.m. Today6:19 a.m. July 15, 2019 - Barrons.com
Teva and Endo Are Falling Because Opioid Suits Aren't Going Away The two generic drugmakers were down Monday morning, with Teva getting the worse of it, after a Morgan Stanley analyst downgraded them both, citing the ongoing litigation over prescription opioid sales.
Earnings Watch: Expect drama in second-quarter numbers as trade fears weigh
Earnings Watch: Expect drama in second-quarter numbers as trade fears weigh Fears of recession and trade-war casualties make second-quarter results more critical than usualSecond-quarter earnings are usually pretty sleepy, with forecasts for the back-to-school and holiday periods tucked away for later review amid summer vacation schedules. You may want to pay attention this year, though.
Barrick Gold, Antofagasta JV awarded $5.84 billion
3:40 a.m. Today3:40 a.m. July 15, 2019 - MarketWatch
Barrick Gold, Antofagasta JV awarded $5.84 billionBarrick Gold Corp. (GOLD) said Monday that the World Bank International Center for Settlement of Investment Disputes has awarded $5.84 billion in damages to Tethyan Copper Company Pty Ltd., a joint venture held equally by Barrick and Antofagasta PLC (ANTO.LN), in relation to the arbitration claims filed against Pakistan following the denial of a mining lease for the Reko Diq project in Pakistan in 2011.
Buyer beware: Endeavor IPO offers up a company with huge debt, volatile earnings, says Bernstein
3:27 a.m. Today3:27 a.m. July 15, 2019 - By Ciara Linnane
Buyer beware: Endeavor IPO offers up a company with huge debt, volatile earnings, says Bernstein 'There are also a number of existential risks,' including bombastic UFC figures, relationships with talent, says reportInvestors eyeing the initial public offering of entertainment giant Endeavor Group Holdings Inc. need a strong stomach, as they will be buying into a company with high debt levels and unpredictable and volatile earnings.
Circor's stock tumbles after Crane threatens to end buyout bid
Circor's stock tumbles after Crane threatens to end buyout bidShares of Circor International Inc. tumbled 14% in premarket trading Monday, after Crane Co. said it will end efforts to buy the engineered products maker unless Circor makes "substantive engagement" this week. Crane said it will not extend its tender offer for Circor shares, which is scheduled to expire at midnight Eastern on July 19. for Circor last week to $48 a share from $45 a share, and , saying it "substantially undervalues" the company. Circor's stock has rallied 17.3% over the past three months through Friday, while Crane shares have slipped 4.8% and the Dow Jones Industrial Average has gained 3.6%.
Peter Thiel says FBI, CIA should probe Google's 'seemingly treasonous' ties to China
7:28 p.m. July 14, 2019 - By Mike Murphy
Peter Thiel says FBI, CIA should probe Google's 'seemingly treasonous' ties to China Billionaire claims tech giant has been infiltrated, works with Chinese militaryBillionaire claims tech giant has been infiltrated, works with Chinese military
U.S. companies may soon get OK to sell to Huawei again: report
U.S. companies may soon get OK to sell to Huawei again: reportThe Trump administration may start approving certain U.S. companies to sell their products to China's Huawei Technologies Co. in as soon as two weeks, . U.S. chipmakers, including Qualcomm Inc. , Intel Corp. and Micron Technology Inc. , have reportedly pushed to resume sales to the Chinese tech giant, which bought about $11 billion worth of U.S. components in 2018. The U.S. banned most sales to Huawei in May, but Commerce Secretary Wilbur Ross has recently said sales licenses will be issued in cases where there is no national security risk. Reuters reported licenses will likely be issued on a case-by-case basis, starting in the next two to four weeks.
These 6 stocks in the S&P 1500 have more than doubled in 12 months
3:28 a.m. July 13, 2019 - By Philip van Doorn
These 6 stocks in the S&P 1500 have more than doubled in 12 months The flip side: 15 have plunged at least 75%The stock market's flip side: 15 have plunged at least 75%.
A Cold War With China Has Already Started, Epoch's William Priest Says
5:16 p.m. July 12, 2019 - Barrons.com
A Cold War With China Has Already Started, Epoch's William Priest Says William Priest, a Barron's panelist and CEO of Epoch Investment Partners, says the trade war between the U.S. and China is "a lose-lose proposition."
Small-Cap Stock Picks for an Expensive Market, According to Delphi's Scott Black
Small-Cap Stock Picks for an Expensive Market, According to Delphi's Scott Black Scott Black, a Barron's Roundtable panelist and president of Delphi Management, recommends two stocks: electronics-components maker Kemet and TriplePoint Venture Growth, a business development company.
Sunnova Energy to offer 17.6 million shares in IPO, priced at $16 to $18 each
3:16 a.m. July 12, 2019 - By Ciara Linnane
Sunnova Energy to offer 17.6 million shares in IPO, priced at $16 to $18 eachSunnova Energy International Inc. set terms for its planned initial public offering, saying in a regulatory filing it plans to offer 17.6 million shares priced at $16 to $18 each. The Houston-based solar energy company would raise $316.8 million at the top of that range. Seven banks are underwriting the deal, led by BofA Merrill Lynch, JPMorgan and Goldman Sachs. Proceeds will be used to pay down debt and for general corporate purposes.
Rush to beat China tariffs drives PC shipments higher, but that may bode ill for rest of 2019
4:26 p.m. July 11, 2019 - By Therese Poletti
Rush to beat China tariffs drives PC shipments higher, but that may bode ill for rest of 2019 Confluence of events leads to surprise jump in computer shipments in second quarter, but could hurt the rest of the yearPersonal computer sales grew slightly in the second quarter, as companies tried to get more products out of China before more tariffs hit, combined with a better supply situation from Intel Corp.
Worldwide PC sales grow as Windows 7 support fades
2:19 p.m. July 11, 2019 - By Wallace Witkowski
Worldwide PC sales grow as Windows 7 support fadesWorldwide PC demand grew more than expected in the second quarter, propelled in part by a phasing out of support for Microsoft Corp.'s Windows 7 operating system, according to research firm International Data Corp. Sales of PCs rose 4.7% to 64.9 million units from the year ago quarter as supply shortages eased, IDC said. "With the January 2020 end of service (EOS) date for Windows 7 approaching, the market has entered the last leg of the Windows 7 to Windows 10 commercial migrations," said Linn Huang, IDC research vice president, in a statement. According to IDC, market share was 25.1% for Lenovo Group Ltd. , 23.7% for HP Inc. , 17.9% for Dell Technologies Inc. , 6.6% for Acer Group, and 6.3% for Apple Inc. . Earlier Thursday, research firm in PC sales to just under 63 million units but Gartner does not include Chromebooks that run on Alphabet Inc.'s operating system. Like IDC, Gartner attributed Windows 10 as a catalyst for growth.
France wants global agreement on taxing digital sales after U.S. denounces new tax
11:04 a.m. July 11, 2019 - By Pierre Briançon
France wants global agreement on taxing digital sales after U.S. denounces new tax U.S. launches Section 301 investigation claiming France discriminating against companies like Google, FacebookFrance's goal is to achieve a global agreement on taxing digital services, finance minister Bruno Le Maire said on Tuesday, after the U.S. government' decided to launch an investigation into the new tax on sales in the country by multinational firms
Immigration raids reportedly set to begin | GOP donor Miriam Adelson wants 'Book of Trump' in bible
6:39 a.m. July 11, 2019 - By Victor Reklaitis
Immigration raids reportedly set to begin | GOP donor Miriam Adelson wants 'Book of Trump' in bible Pete Buttigieg takes aim at systemic racism, as Bernie Sanders unveils anti-endorsementsNationwide raids to arrest thousands of members of undocumented immigrant families have been scheduled to begin Sunday, according to a New York Times report. Meanwhile, Miriam Adelson has an idea for the Jewish Bible.
Brinker International's plan to purchase 116 Chili's restaurants could put share repurchase at risk
6:12 a.m. July 11, 2019 - By Tonya Garcia
Brinker International's plan to purchase 116 Chili's restaurants could put share repurchase at riskBrinker International Inc.'s plan to acquire 116 Chili's Grill & Bar locations could put the company's share repurchase program at risk, according to Quo Vadis Capital. Brinker announced after the closing bell Wednesday that it has executed a letter of intent to acquire the Chili's restaurants from ERJ Dining, a 14-year franchisee. Brinker's restaurant brands include Chili's and Maggiano's Little Italy. The restaurants involved in the deal are mostly located in the Midwest and generate about $300 million in revenue annually. The deal is expected to close during the first quarter of fiscal 2020 and is expected to be earnings-per-share accretive in the fiscal year. Brinker will fund the deal using its existing credit. "It was unclear to us whether 'accretive' took into account lower share repurchase activity or if the deal would be accretive to ROIC [return on invested capital] compared to incremental return of capital, for example," Quo Vadis said, adding that analysts "lean neutral to negative on this acquisition pending more information." Brinker didn't disclose the value of the deal. Brinker stock has fallen nearly 22% over the past 12 months while the S&P 500 index has gained 8.1%.
Weight Watchers' stock jumps after J.P. Morgan backs off from bearish stance
4:14 a.m. July 11, 2019 - By Tomi Kilgore
Weight Watchers' stock jumps after J.P. Morgan backs off from bearish stanceShares of Weight Watchers International Inc. surged 3.5% in premarket trading Thursday, after J.P. Morgan analyst Christina Brathwaite said she was no longer bearish on the weight management and wellness company, citing her belief that subscriber trends have stabilized. Brathwaite raised her rating to neutral, after being at underweight since Feb. 19, and lifted her stock price target to $22 from $17. "We believe that steps taken to to dieting have worked to stabilize recruitment trends," Brathwaite wrote in a note to clients. "We believe investors are beginning to look past the expected ~50% earnings decline this year and instead focus on the potential growth opportunity in 2020 following the launch of a new diet program at the end of this year." The stock has rallied 18.2% over the past three months, but was still down 43.4% year to date, while the Dow Jones Industrial Average has gained 15.1% this year.
Circor rejects Crane's raised buyout bid
Circor rejects Crane's raised buyout bidCircor International Inc. said Thursday its board has unanimously decided to reject the latest buyout bid by Crane Co. , saying it "substantially undervalues the company and is low-value, highly conditional and opportunistic." Earlier this week, for Circor to $48 a share, which would imply a market capitalization of $955.2 million, from $45 a share. Circor's stock has more than doubled (up 113.2%) year to date, while Crane shares have advanced 12.9% and the S&P 500 has gained 19.4%.
Defense Companies Need to Merge or Die. 3 Companies That Could Get Bought.
1:15 a.m. July 11, 2019 - Barrons.com
Defense Companies Need to Merge or Die. 3 Companies That Could Get Bought. The Defense Department wants its large defense contractors investing more in research and development. Higher spending is one reason more mergers could happen.
India is now in Trump's crosshairs over accusations of unfair trade
4:55 a.m. July 10, 2019 - By Jeffry Bartash
India is now in Trump's crosshairs over accusations of unfair trade President ramps up pressure on India over high tariffsPresident Trump has already picked fights with China, Mexico, Canada and Germany over what he calls unfair trade. Now he's appears to be going after India.
T-Mobile to replace recently acquired Red Hat in S&P 500
1:39 p.m. July 9, 2019 - By Claudia Assis
T-Mobile to replace recently acquired Red Hat in S&P 500T-Mobile US Inc. will replace Red Hat Inc. in the S&P 500 index at the open on Monday, S&P Dow Jones Indices said late Tuesday. IBM Corp. completed the Red Hat Red Hat is to operate as a unit of IBM's cloud computing business. Shares of T-Mobile rose nearly 3% in the extended session after ending the regular trading day down 0.6%.
Marriott says it has received $124 million fine from UK over Starwood 2018 breach
4:38 a.m. July 9, 2019 - By Ciara Linnane
Marriott says it has received $124 million fine from UK over Starwood 2018 breachMarriott International Inc.'s shares slid 1.6% in premarket trade Tuesday, after the hotel chain said it has been informed by the UK Information Commissioner's Office that it plans to fine Marriott 99.2 million pounds ($123.6 million) over the Starwood reservation database breach reported in Nov. of 2018. "We are disappointed with this notice of intent from the ICO, which we will contest," Marriott Chief Executive Arne Sorenson said in a statement. "Marriott has been cooperating with the ICO throughout its investigation into the incident, which involved a criminal attack against the Starwood guest reservation database." The company said the database in question is no longer in use for business operations. Shares have gained 30.2% in 2019, while the S&P 500 has gained 18.7%.
London markets muted as investors sit tight ahead of Fed rate cut clues
3:52 a.m. July 9, 2019 - By Callum Keown
London markets muted as investors sit tight ahead of Fed rate cut clues Markets look towards Federal Reserve chair Jerome Powell's testimony on Wednesday for clues on further rate cutsLondon markets remain muted as investors sit tight ahead of further clues on the Federal Reserve's plan for interest rates.
Micro Focus pretax loss narrowed, backs outlook
10:33 p.m. July 8, 2019 - MarketWatch
Micro Focus pretax loss narrowed, backs outlookMicro Focus International PLC (MCRO.LN) said Tuesday that its pretax loss narrowed in the fiscal first half of the year, and it backed its full-year outlook. The FTSE 100-listed software company posted a loss before tax for the half year ended April 30 of $99.6 million, compared with a loss of $100.9 million for the previous-year period.
DouYu sets IPO terms, to raise up to about $629 million
11:02 a.m. July 8, 2019 - By Tomi Kilgore
DouYu sets IPO terms, to raise up to about $629 millionDouYu International Holdings Ltd. said Monday it has set terms of its initial public offering, in which the China-based game-centric live streaming platform could raise up to $628.95 million. The company said it will offer 44,924,730 American Depositary Receipts in the IPO, while selling stockholders will offer an additional 22,462,380 ADSs. The ADS are expected to price between $11.50 and $14.00 each, and are expected to list on the Nasdaq exchange under the ticker symbol "DOYU." Every 10 ADS will represent one ordinary share. The company said there will be 32,462,368 ordinary shares outstanding after the IPO, suggesting the company could be valued at up to $4.54 billion. the company reported a net loss of RMB876.3 million ($130.6 million) on revenue of RMB3.65 billion ($544.5 million) in 2018, after a loss of RMB612.9 million on revenue of RMB1.89 billion in 2017. The company is looking to go public at a time that the Renaissance IPO ETF has soared 37.5% year to date, while the iShares MSCI China ETF has gained 12.0% and the S&P 500 has rallied 18.6%.
Shopify's scale 'could rival Amazon,' says analyst
6:36 a.m. July 8, 2019 - By Emily Bary
Shopify's scale 'could rival Amazon,' says analystKeyBanc Capital Markets analyst Josh Beck wrote Monday that Shopify Inc.'s scale "could rival Amazon" in a few years as the company rolls out new features and addresses gaps in its product offering. "We see the opportunity for payments gross margin to improve as international adoption ramps and by 2023E outline a scenario where gross merchandise volume could exceed $200 billion, rivaling Amazon's current first-party business that was ~$120 billion last year," he said. Beck is upbeat about recently announced offerings around fulfillment, currencies, and developer tools. He raised his price target on Shopify shares to $350 from $300 and maintained an overweight rating. Shares are up 2% in morning trading, and they've gained 131% so far this year. The S&P 500 has climbed 19% in that time.
Fiverr stock gains after Needham, Oppenheimer chime in with bullish calls
Fiverr stock gains after Needham, Oppenheimer chime in with bullish callsShares of Fiverr International Ltd. are up 0.8% in premarket trading Monday after Needham and Oppenheimer initiated coverage of the freelance-marketplace stock with bullish ratings. Needham's Brad Erickson is upbeat about how the lifetime value of Fiverr buyers, or those who hire freelancers through the service, continues to rise. This suggests to him that Fiverr "can continue to spend aggressively to acquire new customers while importantly being nowhere near exhausting spend/buyer increases." He set a buy rating and $31 target on the stock. Oppenheimer's Jason Helfstein started coverage with an outperform rating and $32 target, writing that the company looks "well positioned to capitalize on a shift in the labor market toward more independently-driven opportunities made possible through digitization." Helfstein sees a large market opportunity for the company as only 3% of freelancing jobs are completed online currently. Fiverr went public in June and its shares are currently trading up 30% from their offering price of $21. Fiverr made its public debut during a strong year for recent initial public offerings; the Renaissance IPO ETF is up 38% so far in 2019, while the S&P 500 has gained 19%.
Crane raises cash buyout bid for Circor by nearly 7%
5:21 a.m. July 8, 2019 - By Tomi Kilgore
Crane raises cash buyout bid for Circor by nearly 7%Crane Co. said Monday it has raised its cash buyout bid for flow control technology company Circor International Inc. by 6.7% to $48 a share from $45 a share. The new bid is 4.2% above Friday's stock closing price of $46.07. Circor had rejected the previous buyout bid, Circor responded by saying it will "carefully review and evaluate" the revised bid. Circor's stock has more than doubled (up 116%) year to date through Friday, while Crane shares have rallied 17% and the S&P 500 has gained 19%.
Papa John's names former McDonald's exec restaurant operations chief
4:46 a.m. July 8, 2019 - By Tonya Garcia
Papa John's names former McDonald's exec restaurant operations chiefPapa John's International Inc. said Monday that Jim Norberg has been named chief of restaurant operations overseeing the corporate and franchised restaurants in North America. Norberg was most recently chief operating officer at McDonald's Corp. , managing 14,000 U.S. locations. He was with the fast-food burger giant for 30 years. After leaving that company, Norberg became an independent consultant to the restaurant, hospitality, entertainment and consumer goods industries. Papa John's stock has gained 16.5% for the year to date, while the S&P 500 index is up 19.3% for the period.
Ticker-tape parade Wednesday for U.S. women's soccer team after World Cup win
7:37 p.m. July 7, 2019 - By Daniel Cassady
Ticker-tape parade Wednesday for U.S. women's soccer team after World Cup winThe World Cup–winning U.S. women's soccer team will be showered with ticker tape Wednesday in a parade up the Canyon of Heroes in lower Manhattan.
U.S. women top Holland to lift record fourth soccer World Cup
11:32 a.m. July 7, 2019 - Associated Press
U.S. women top Holland to lift record fourth soccer World CupThe U.S. won its record fourth Women's World Cup title and second in a row, beating the Netherlands 2-0 Sunday when Rapinoe converted a tie-breaking penalty kick in the second half and Rose Lavelle added a solo goal.
How Fund Managers Are Investing in China While Bracing for Conflict
9:58 a.m. July 6, 2019 - Barrons.com
How Fund Managers Are Investing in China While Bracing for Conflict Avoid companies reliant on exports, but favor those in still-nascent industries like finance and pharmaceuticals or those ripe for consolidation.
BMW chief Harald Krueger won't seek second term
3:22 a.m. July 5, 2019 - MarketWatch
BMW chief Harald Krueger won't seek second termBERLIN--The chief executive of Bayerische Motoren Werke AG (BMW.XE), Harald Krueger, won't seek a second term, the company said Friday, prompting a succession search at the German automaker as it contends with shrinking profits and competition in the fast-growing electric-vehicle segment.
OPEC, allies waging a battle to keep oil prices supported amid trade tensions
2:53 a.m. July 4, 2019 - By Myra P. Saefong
OPEC, allies waging a battle to keep oil prices supported amid trade tensions Oil cartel 'drawing a line in the sand for $50 oil', say some The Organization of Petroleum Exporting Countries' decision to extend production curbs by another nine months shows just how concerned the group and allied oil producers are about a slowdown in energy demand.
Syria-bound tanker with Iranian oil stopped by Gibraltar authorities
2:00 a.m. July 4, 2019 - Associated Press
Syria-bound tanker with Iranian oil stopped by Gibraltar authorities Vessel likely carried just over 2 million barrels of Iranian crude oilThe Gibraltar authorities didn't confirm the origin of the ship's cargo but Lloyd's List, a publication specialized in maritime affairs, reported this week that the Panama-flagged large carrier was laden with Iranian oil.
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