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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 […]

John Wiley Releases Full-Year Guidance

John Wiley Releases Full-Year Guidance

Research and education company John Wiley & Sons (JW.A, JW.B) released full-year guidance on Tuesday as it posted better-than-expected fourth-quarter results which were helped by growth in its research, education and test preparation business units. The Hoboken, NJ-headquartered company reported revenue of $491.2 million in the three months ended April 30, up 3% from the corresponding quarter of the prior […]

S&P 500 Posts 4.4% Weekly Climb, Starting June on Strong Note

S&P 500 Posts 4.4% Weekly Climb, Starting June on Strong Note

The Standard & Poor’s 500 index rose 4.4% this week, giving June a strong start as the materials and technology sectors led broad gains amid hopes for lower interest rates. The market benchmark ended the week at 2,873.34, up sharply from last week’s closing level of 2,752.06. This snaps a weekly losing streak that had reached four weeks last week, […]

Financial Stocks Outperforming Most Sectors

Financial Stocks Outperforming Most Sectors

Top Financial Stocks JPM +2.56% BAC +4.16% WFC +2.2% C +4.30% USB +2.11% Financial stocks were advancing in afternoon trading, including a 1.5% gain for the NYSE Financial Index while shares of financial companies in the S&P 500 were ahead over 2.0%. The Philadelphia Housing Index also was rising 1.2%. Among financial stocks moving on news: (-) Ventas (VTR) fell […]

Enphase Energy Prices $120 Million of 1% Convertible Senior Notes Due 2024

Enphase Energy Prices $120 Million of 1% Convertible Senior Notes Due 2024

Enphase Energy (ENPH), which sells home energy solutions for the solar photovoltaic industry in the US, said Friday it has priced $120 million of 1% convertible senior notes due 2024 in a private placement to qualified institutional buyers. Enphase said in a statement it has also granted the initial buyers of the notes a 13-day option to buy up to […]

Auto Industry Faces Headwinds From Possible US Tariffs on Mexico Products, RBC Says

Auto Industry Faces Headwinds From Possible US Tariffs on Mexico Products, RBC Says

The auto industry will be negatively affected by President Donald Trump’s threat to impose tariffs on goods produced in Mexico until that country’s government stops the flow of migrants illegally crossing its border with the US, RBC Capital Markets said Friday. Late Thursday, the president said he would invoke his powers under the International Emergency Economic Powers Act to impose […]

Zuora Shares Crater as Fiscal 2020 Guidance Cut While CEO Sees Need to Improve Sales Execution

Zuora Shares Crater as Fiscal 2020 Guidance Cut While CEO Sees Need to Improve Sales Execution

Zuora (ZUO) cut its guidance for the full year as the software company undertakes a sales reorganization, prompting Morgan Stanley to cut its price target on the stock even after fiscal first-quarter revenue was in line with Wall Street’s expectations and its loss narrowed year on year. Late Thursday, the company said it sees fiscal 2020 subscription revenue of $200 […]