Marketmind: Who’s rocking the boat now?
From Fed boss Jerome Powell on Friday to the Cleveland Fed’s Loretta Mester on Monday, the doves have been out in force, sending the dollar to two-week lows, Treasury yields below 1.3% and putting the S&P 500 (.SPX) on track for its longest monthly winning streak since 2018.
Aramco in advanced talks on up to $25 bln Reliance deal – Bloomberg News
Saudi Aramco (2222.SE) is in advanced talks to acquire a roughly 20% stake in Reliance Industries Ltd’s (RELI.NS) oil refining and chemicals business for about $20 billion to $25 billion in Aramco’s shares, Bloomberg News reported on Monday.
S.Korea’s Krafton, maker of hit game ‘PUBG’, tumbles on debut
Shares in Krafton Inc (259960.KS), the Tencent Holdings-backed (0700.HK) South Korean company behind blockbuster video game “PlayerUnknown’s Battlegrounds” (PUBG), fell as much as 20% on their trading debut on Tuesday.
Stocks tread water as gold, oil declines spook sentiment
Global share prices treaded water on Monday as sharp falls in gold and oil prices and concerns over the spread of the Delta coronavirus variant dented sentiment.
Corteva lifts sales forecast on strong demand for crop protection products, seeds
Corteva Inc (CTVA.N) on Thursday raised its net sales forecast for the year after strong demand for crop protection products such as herbicides and insecticides helped the agricultural company beat estimates for the second quarter.
Outdoor grills maker Weber raises $250 mln in downsized IPO
Weber Inc (WEBR.N) on Thursday raised about $250 million in its initial public offering, which was less than half the amount it had planned to raise earlier.
Singapore’s DBS bets on post-pandemic recovery, profit up on lower credit costs
Singapore’s DBS Group Holdings (DBSM.SI) flagged strong loan growth and lower credit costs ahead after a rebound in its mainstay home market fuelled a better-than-expected 37% jump in quarterly net profit for Southeast Asia’s biggest lender.
CVS hedges on 2022 earnings growth target as COVID-19 uncertainty persists
CVS Health Corp (CVS.N) on Wednesday hedged a bit on its long-term target for double-digit earnings growth for next year, pointing to uncertainty around COVID-19 vaccination and testing demand, as well as medical costs, sending shares down 3%.
France’s Axa rebounds from pandemic as XL unit swings to profit
Axa (AXAF.PA) posted a 180% surge in first-half net income on Monday as the French insurer rebounded from a spike in pandemic-related claims that led to a 1.5 billion euro ($1.8 billion) charge last year.
Gloomy outlook dulls PayPal’s quarterly profit beat
Shares of PayPal Holdings Inc(PYPL.O) fell 8% on the payment company’s downbeat current-quarter profit outlook that outweighed a better-than-expected profit in the second quarter from a pandemic-driven shift to digital spending.
