By Stephen Nellis (Reuters) – Apple on Thursday forecast that a sales slump would continue into the current quarter, sending shares down despite beating Wall Street sales and profit targets in the fiscal third quarter. Apple shares dropped about 2% after the company predicted what could be the fourth quarter in a row of declining…
By Yantoultra Ngui SINGAPORE (Reuters) -Singapore’s second-biggest lender Oversea-Chinese Banking Corp (OCBC) on Friday posted a 34% rise in second-quarter net profit, in line with estimates, while flagging it expected interest rates to trend lower from 2024. “We are assuming interest rates to start to fall next year but not substantially to pre-cycle,” OCBC Group…
(Reuters) – U.S.-based private equity fund Blackstone will submit a bid next week to acquire a 33.47% stake in Indian drugmaker Cipla, the Economic Times reported on Friday, citing people in the know. The stake sale will formally start the exit of the Hamied family who had founded Cipla in 1935, the report added. Cipla…
A look at the day ahead in European and global markets from Ankur Banerjee: Investors have kept their risk-off hat as the market looks to cap off a volatile week that followed the Bank of Japan’s policy tweak and ended with worries about where U.S. yields are headed. Futures indicate European stocks are set for…
(Reuters) -The U.S. health regulator rejected Mesoblast’s cell therapy for children under 12 years of age for treating a type of complication that occurs after a stem cell or bone marrow transplant, sending its Australia-listed shares crashing about 58% on Friday. The U.S. Food and Drug Administration (FDA) required more data to support marketing approval…
By Priyamvada C and Doyinsola Oladipo (Reuters) -Airbnb forecast third-quarter revenue above market estimates on Thursday, but industry fears of softening U.S. domestic demand sent the vacation rental firm’s shares down 1.2% in after-hours trading. The San Francisco-based company forecast quarterly revenue between $3.3 billion and $3.4 billion, ahead of analysts’ average estimate of $3.22…
