Growing competition could not keep FedEx from riding high as the company announced a better than expected results for the quarter that ended on February 29. The package delivery company attributes most of its growth to online shopping, which helped it beat the expectations for the holiday season.
Coherent Inc, the laser tools and systems maker with a global presence and headquartered in Santa Clara, California said it would acquire Plymouth, Michigan, based laser developer and manufacturer Rofin-Sinar Technologies Inc. The deal is valued at approximately $942 million and is expected to close within six to nine months. It is still pending regulatory and shareholders' approval.
On Tuesday, Redwood City California based Oracle Corporation reported quarterly profits that surpassed expectations mainly due to gains from its growing cloud business. The computer technology company also said that it will boost its stock buyback program by $10 billion. The news send Oracle shares almost 4 percent up during the extended trading hours.
On Tuesday, Chipotle Mexican Grill Inc's reported a greater than expected drop in sales in February at established restaurants. The burrito chain warned that it might post loss in its first quarter as a public company. This will surely stretch the company's turnaround time after it faced an array of food related health issues.
No matter how Valeant Pharmaceuticals International Inc. tries to win investors favor but its situation gets worse. The company reeling with troubles for months offered a financial outlook on Tuesday which turned out to be worse than people feared. Stocks dropped and the company's market value was cut into almost half.
Outerwall Inc to explore Financial Alternatives; mm2 Entertainment Unveils its Three Future Projects
On Monday, Bellevue, Washington based Outerwall Inc said the company with a network of movie and game rental kiosks, would explore strategic and financial alternatives.
In extending trading hours on Monday, shares of the company climbed almost 15 percent to $39.50. The company doubled its quarterly dividend to 60 cents a share.
Avon Products Inc. headquartered in New York City said it has a three year turnaround plan, which includes shifting its headquarters to the UK and 2,500 job cuts around the globe. The cosmetic maker's shares climbed close to four percent at $4.55 during the extended trading hours.
Anbang Insurance Group Might Disrupt Marriott-Starwood Deal with an Unsolicited Bid to buy Starwood Hotels & Resorts Worldwide
As China's economy faces a slowdown, Chinese insurers are rushing out of the country to acquire high-yielding assets. The insurers are struggling to keep up with the policy liabilities of the ageing population and the U. S. assets are considered as a good hedge against the future weakness which the yuan might face.