BMW China JV stake increase approved

BMW AG (BMW.XE) said Friday that shareholders in Hong Kong voted in favor of the group’s proposal to increase its stake in the BMW Brilliance Automotive joint venture in China. BMW said in October that it wanted to increase its ownership of the JV to 75% from 50%, following the relaxation of restrictions on foreign-ownership of China-based companies. The stake […]

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Halma Buys US-based Rath Communications For $42.4 Mln

Halma plc (HLMA.L), a safety, health and environmental technology group, announced Friday the acquisition of Business Marketers Group Inc., trading as Rath Communications, a provider of emergency communication systems for Areas of Refuge in the USA. The cash consideration for Rath was $42.4 million or 32.6 million pounds, on a cash and debt free basis, which was funded from Halma’s […]

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Atlassian stock surges 5% on earnings, outlook beat

Atlassian Corp. TEAM, -1.48% shares rallied in the extended session Thursday after the business productivity software company’s results and outlook topped Wall Street estimates. Atlassian shares surged 5.1% after hours, following a 1.5% decline to close the regular session at $92.92. The company reported fiscal second-quarter net income of $45.2 million, or 18 cents a share, compared with a loss […]

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Morgan Stanley’s stock heads for biggest one-day post-earnings selloff since the financial crisis

Shares of Morgan Stanley MS, -4.43% sank 5.6% in morning trade Thursday, after the bank and broker’s fourth-quarter results snapped a 12-quarter streak of earnings beats, to put it on track for the biggest one-day post-earnings selloff since the financial crisis. The last time the stock fell more on the day earnings were reported was when the stock tumbled 9.0% […]

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Walmart expands grocery delivery through partnership with four companies

Walmart Inc. WMT, +0.76% has partnered with Point Pickup, Skipcart, AxleHire and Roadie to expand its grocery delivery service to metropolitan areas in four states: South Carolina, Ohio, Florida and Alabama. Grocery delivery is available in 800 stores currently and 800 more will be added this year. Customers can use the service on orders of $30 or more, with free […]

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Blue Apron shares slide after company is named in list of possible 2019 bankruptcies

Shares of meal-kit maker Blue Apron Inc. APRN, -10.48% fell more than 13% Thursday, after the company was named in a list of 10 potential bankruptcies in 2019. Investing and financial news site Investor Place acknowledged that the company is not one often named as a potential bankrupt, but after going public at $10 and falling to under $1 in […]

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Elon Musk kills the Tesla referral program, suggests it hurt margins

Tesla Inc. TSLA, +0.06% Chief Executive Elon Musk announced on Twitter late Wednesday the end of the Silicon Valley auto maker’s referral program, which involved awards such as a $1,000 credit, Tesla merchandise and products, and months worth of free Tesla’s "supercharging" over several iterations. The program officially ends Feb. 1, Musk said. In response to questions tweeted at him, […]

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Experian organic revenue up 9%

Experian PLC (EXPN.LN) on Thursday reported organic revenue growth of 9% for the third quarter of fiscal 2019 and said it backed its full-year guidance. The credit-checking company said its North American business saw the highest levels of growth, with organic revenue up 12%, driven by performance across its divisions. For the three months ended Dec. 31, Experian said total […]

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Voestalpine cuts FY19 view after weak results

Voestalpine AG (VOE.VI) late Wednesday cut its guidance for the 2019 financial year due to lower-than-expected provisional earnings in the first nine months of the year. The Austrian steelmaker said it now expects earnings before interest, taxes, depreciation and amortization of about 1.55 billion euros ($1.77 billion) for the 2019 financial year. Earnings before interest and taxes should be about […]

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Gymboree files for bankruptcy protection for the second time in two years: reports

Children’s clothing retailer Gymboree Group Inc. said late Wednesday that it has filed for Chapter 11 bankruptcy protection and will shut its Gymboree and Crazy-8 stores, The Wall Street Journal reported. The company said it has also entered a purchase agreement with Special Situations Investing Group, an affiliate of Goldman Sachs Group Inc. GS, +9.54% that will provide the initial […]

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