Stock Market

Anthem to takeover Cigna for $48.4 billion as consolidation in insurance sector continues

Anthem Incorporated has agreed to buy smaller rival Cigna Corporation for $48.4 billion in a deal that has raised eyebrows of consumer activists. The major U.S. health insurance companies have been looking forward to consolidation in the sector, a move which many insurance experts see as leaving... read more

Vetr Inc Downgrades Michael Kors Holdings from ‘Strong-Buy’ to ‘Buy’

In an official statement that came out on Wednesday, Michael Kors chairman and CEO John Idol, tried to paint an optimistic picture for his company, Michael Kors Holdings. He laid greater emphasis on the company’s 32 percent annual revenue growth, than on the decelerating same-store sales, which... read more

Daniel Loeb

On Wednesday, Hedge fund mogul Daniel Loeb took aim at the ‘Oracle of Omaha’ by calling beloved billionaire Warren Buffett a hypocrite.

While talking about Buffett, who has been running conglomerate Berkshire Hathaway for 50 years, Loeb, who runs $17.5 billion hedge fund Third Point, said... read more

Caterpillar reports better-than-expected Quarterly Profit

Quarterly profit for Caterpillar Inc has turned out to be better than expected. The company reported on Thursday that lower sales didn’t have much impact on the quarterly profit as the margins remained strong. However, the outlook for the rest of the year is not very promising. The outlook was... read more

General Electric Stock Gains after restructuring and stock buyback announcement

General Electric stock gained this week as the conglomerate announced its plans to sell interest in financial services sector and concentrate on manufacturing and the core sectors of the group. GE CEO Jeff Immelt had earlier indicated that the company management was planning to concentrate on... read more

Heinz and Kraft Foods merger to create third largest food company in North America

H. J. Heinz and Kraft Foods have agreed to $46 billion deal to merge operations, creating the third-largest food company in North America. Kraft shareholders will hold 49 percent stake in Kraft Heinz Co. After the deal was announced Kraft stock jumped by 36 percent to close at $83.17. Kraft... read more

Apollo Education stock declines after enrollments nosedive

Apollo Education Group stock suffered a major blow as the for-profit University of Phoenix reported massive decline in student enrollments. The stock declined 28 percent to close at $20.04, marking the biggest loss in a single day since the listing on the stock markets. The University of Phoenix... read more

Stocks close slightly lower; S&P 500 misses all-time high by just four points

The U.S. stock market closed slightly lower with S&P 500 down by nearly 20 points and Dow Jones closing 11 points down at 18,116. Financials, Health Care and transportation stocks pushed the indices down and wiped out the gains during the earlier session. S&P Mid Cap index touched all-... read more

Markets close strong, Nasdaq hovers around 15-year high

The U.S. stock markets closed strong on Friday with S&P 500 and Nasdaq hovering around multi-year highs. The S&P 500 and Dow Jones gained on Friday after the traders were anxiously waiting for the Federal Reserve policy past week.

After the dotcom bubble left the markets in a long... read more

Biogen Idec Stock enjoys dream run over positive outcomes for Alzheimer’s drug

Biogen Idec stock has gained nearly 40 percent after the company announced initial success for the experimental Alzheimer’s drug in December last year. The company reported that the initial trials have given encouraging results and they have skipped to final-stage testing for drug approval.... read more

United Technologies could spin-off Black Hawk helicopter unit

United Technologies Chief Executive Officer Greg Hayes informed the investors that the company is considering spin-off of Black Hawk helicopter unit. Sikorsky Aircraft is one of the lowest-margin units of United Technologies. The analyst estimates suggest that Sikorsky Aircraft unit could be... read more

American household wealth rises to a record high as real estate, stocks firm up

American household net worth has increased to a record high as the real estate prices have firmed up in the past couple of years. Also, the stock portfolio of Americans has increased as the markets have touched an all time high. During the October-December quarter, the household wealth increased... read more