Sotheby’s (BID) said Monday that it has agreed to be acquired in a $3.7 billion deal that would take the auction house private. The New York-based company said it will merge with BidFair USA, wholly owned by Altice Europe founder and Chairman Patrick Drahi. BidFair will pay $57 for eachRead More
National Beverage Corp (FIZZ) was down 7% Tuesday afternoon, recovering moderately from a more than 10% decline to its lowest share price since March 2016 that followed reports the sparkling water seller falsely claimed its metal containers were free of toxic chemicals. According to a copy of the lawsuit obtainedRead More
Shares of US home builders and lumber distributors fell broadly on Tuesday on worries over the impact of higher lumber prices on their profits after Canada’s major lumber supplier Canfor (CFP.TO) moved to curtail operations at all of its British Columbia sawmills, except its WynnWood operations, due to poor lumberRead More
The trading and investment banking businesses of Citigroup (C) will see lower revenues in Q2, the Financial Times reported on Tuesday, citing the bank’s CFO Mark Mason. Mason said in an industry conference that Citigroup’s revenue in fixed income and equity trading would be down in the mid-single digits, relativeRead More
Technology stocks were firming in recent trading, with the shares of tech stocks in the S&P 500 adding nearly 1.7% in value while the Philadelphia Semiconductor Index was rising almost 3%. Among technology stocks moving on news: (+) Vuzix (VUZI) soared more than 41% after unveiling, together with Dubai-based softwareRead More
Financial stocks were advancing in afternoon trading, including a 0.8% gain for the NYSE Financial Index while shares of financial companies in the S&P 500 were rising 1.3%. The Philadelphia Housing Index was rising 0.5%. Among financial stocks moving on news: (-) Banco Bradesco (BBD) dropped 2% after Goldman SachsRead More