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Acuity Third-Quarter Revenue Misses Estimates

Acuity Third-Quarter Revenue Misses Estimates

Shares of Acuity Brands (AYI) were sharply lower after the lighting company said its fiscal fourth-quarter net sales could decline slightly after third-quarter sales missed analysts’ estimates. The Atlanta-based company, which provides lights and building management solutions, reported net sales of $947.6 million in the three months ended May 31, up 0.4% from the same quarter of the prior year, […]

HB Fuller Second-Quarter Results Miss Views

HB Fuller Second-Quarter Results Miss Views

HB Fuller (FUL) accelerated its debt de-leveraging target and downwardly revised its full-year guidance after markets closed on Wednesday as it posted second-quarter results which fell short of analysts’ estimates amid lower construction-related volumes. The St Paul, Minn.-headquartered firm, which was founded in 1887 and whose adhesives are used to glue shoes, hang wallpaper and manufacture boxes, posted revenue of […]

AbbVie Set to Acquire Botox Maker Allergan

AbbVie Set to Acquire Botox Maker Allergan

AbbVie (ABBV) said on Tuesday it will acquire Allergan (AGN), which has a portfolio of pharmaceuticals including Botox skin treatment and CoolSculpting for fat loss in a $63 billion cash-and-stock deal. The combined company will have a combined 2019 revenue of about $48 billion and will have leading positions in health sectors including immunology, neuroscience, women’s health and eye care, […]

Stocks Rally in Early U.S. Session

Stocks Rally in Early U.S. Session

Equities pushed firmly higher in early trading on Thursday after the Federal Reserve took a dovish turn to signal a possible rate cut this year and as oil prices jumped amid growing tensions in the Persian Gulf. All three benchmarks were firmly higher, with the Standard & Poor’s 500 in record high territory, with the Dow Jones Industrial Average and […]

Animal Welfare Concerns Can Bring Risks to Leisure, Entertainment Companies, Fitch Ratings Says

Animal Welfare Concerns Can Bring Risks to Leisure, Entertainment Companies, Fitch Ratings Says

Fitch Ratings said on Friday that leisure and entertainment companies can see risks to their reputation over animal welfare concerns, and incidents involving animals can lead to a credit profile deterioration as companies change their business models to deal with problems. “Animal welfare issues can expose companies in the US leisure and entertainment-related sectors to reputational and brand risk that […]

Parsley Energy ‘Attractive’ for Any Type of Buyer, Says CEO

Parsley Energy ‘Attractive’ for Any Type of Buyer, Says CEO

Parsley Energy (PE) will be “attractive” for any potential buyer as the company expects to generate positive free cash flow in H2, Bloomberg reported on Friday, citing CEO Matt Gallagher. “We are attractive for purchasers whatever type of investor it is,” Gallagher said in a phone interview with Bloomberg on Thursday. He declined to say if the US shale driller […]

Crude Ends Week Lower as IEA Cuts Demand Growth Projections, Outweighing Risk of Oil Flow Choking in Middle East

Crude Ends Week Lower as IEA Cuts Demand Growth Projections, Outweighing Risk of Oil Flow Choking in Middle East

Crude oil fell this week after the International Energy Agency projected slower-than-expected growth in demand in the second quarter, outweighing the impact on prices this week of attacks on two oil tankers in the Strait of Hormuz, a passage on the south coast of Iran to almost a fifth global oil flows. West Texas Intermediate futures rose by 0.6% to […]