Google just announced a major restructuring of its company, where it will now exist as part of a larger, over-arching company called Alphabet (https://abc.xyz/).
Category Archives: Market news
Warren Buffett’s Berkshire Hathaway Inc. said it agreed to buy Precision Castparts Corp. for about $32 billion. This is said to be the conglomerate’s largest takeover ever.
The MPC voted by a majority of 8-1 to maintain Bank Rate at 0.5% and in this way to meet the 2% inflation target.
As a result of which the Bank of England left the interest rate unchanged at 0.5%. It was just Ian McCafferty who preferred to increase Bank Rate by 25 basis points.
Apple’s market capitalization has plunged by roughly $90 billion since the day before the company published its last earnings report. Recently Bank of America Merrill Lynch downgraded Apple stock from “Buy” to “Neutral” with a new stock-price target of $130 (previously $142). As for the cause of slip – it’s unclear.
The Finnish tech legend Nokia made another selling move. After trading off its mobile phone division to Microsoft for $7 billion last April and also acquiring France’s Alcatel-Lucent for $16.6 billion, Nokia finally revealed what used to be kept as a secret: the sale of its Here maps service to a group of German car manifacturers – Mercedes’ owner Daimler, BMW and Audi – is already a fact.
Facebook’s quarterly results on Wednesday topped analyst estimates on nearly every metric.
1.49 billion are the monthly active users (MAUs) for June, with 1.31 billion MAUs on mobile. What the analysts had expected was 1.48 billion, with the mobile MAU number of 1.29 billion.
Chinese shares took a dive of over 8% this Monday, as the country’s government failed to go forth with its plan to prop up valuations, casting a thick shadow of doubt over Beijing’s efforts to fend off a deeper crash.
IBM stock tumbled nearly 6% Tuesday after the tech giant reported that sales declined for the thirteenth quarter straight.
The poor quarterly results, along with a bad report from aerospace company United Technologies, sent ripples across Wall Street. The Dow Jones Industrial Average declined 181 points, or 1%, to 17,919 points.