By Lewis Krauskopf NEW YORK (Reuters) – Oppenheimer Asset Management on Tuesday projected the S&P 500 would rise above its record high by year end, the latest Wall Street firm to grow more bullish on the outlook for stocks following the market’s rally this year. Oppenheimer lifted its year-end price target for the S&P 500…
NEW YORK (Reuters) – A senior Goldman Sachs executive, who oversaw the firm’s office that manages the wealth of its partners and senior executives, is leaving the company after two decades, according to an internal memo seen by Reuters. Lisa Opoku, global head of the Goldman Sachs Partner Family Office, oversaw the firm’s wealth management…
By Sruthi Shankar, Amruta Khandekar and Shristi Achar A (Reuters) -European stocks fell on Tuesday, with the German DAX pulling back from record highs as shrinking factory activity in the euro zone, China and the United States underscored growing risks to the global economy from rising interest rates. The pan-European STOXX 600 index closed down…
By Blake Brittain (Reuters) – Laboratory equipment maker Thermo Fisher Scientific has settled a lawsuit brought by the estate of Henrietta Lacks, whose cells have fueled biomedical research for decades, lawyers for the estate said on Tuesday. The story of Lacks, a young African-American woman who died in Baltimore in 1951, was made famous in…
By Granth Vanaik (Reuters) -Norwegian Cruise Line on Tuesday forecast downbeat third-quarter profit after a strong second quarter, as elevated costs offset gains from robust demand and higher ticket prices, sending the company’s shares tumbling down as much as 16.7%. While higher costs have hounded most cruise operators, they have also benefited from pent-up demand…
By Steven Grattan SAO PAULO (Reuters) – On their tenth day at sea, the four Nigerian stowaways crossing the Atlantic in a tiny space above the rudder of a cargo ship ran out of food and drink. They survived another four days, according to their account, by drinking the sea water crashing just meters below…
By Jonathan Stempel NEW YORK (Reuters) – LensCrafters agreed to pay $39 million to settle a lawsuit by prescription eyeglass customers who accused the eyewear chain of misleading them about how well its Accufit technology could measure their eyes. A preliminary settlement of the nearly six-year-old class- action lawsuit was filed on Monday night in…
By Nichola Groom and Valerie Volcovici WASHINGTON (Reuters) -The top U.S. utility lobby group intends to push back against the Biden administration’s proposals requiring upgrades to existing natural gas-fired power plants to curb climate-warming emissions, two sources familiar with the matter said. Resistance from the Edison Electric Institute (EEI), which represents investor-owned utilities that serve…
By Stephanie Kelly NEW YORK (Reuters) -U.S. energy infrastructure group Enterprise Products Partners LP reported lower earnings for the second quarter due to a major year-on-year drop in the price of natural gas liquids, which affected margins, the company said on Tuesday. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) for the second quarter…
By Michael Erman and Leroy Leo (Reuters) -Merck & Co raised its full-year revenue forecast on Tuesday as second-quarter sales of its top-selling products, cancer immunotherapy Keytruda and human papillomavirus (HPV) vaccine Gardasil, sailed past Wall Street estimates. Merck said Keytruda sales for the quarter jumped 19% to $6.3 billion, surpassing analysts’ average estimate of…
