VinFast Auto Ltd. late Thursday reported a second-quarter loss of half a billion dollars, saying it delivered more than 9,000 electric vehicles globally for sales of about $315 million in the period. Vietnamese EV maker VinFast VFS, -8.38% went public in August through a SPAC deal, and the stock more than tripled by the end…
With Cisco Systems Inc.’s pending acquisition of Splunk Inc., the networking giant is making another major step toward becoming a software company. On Thursday, Cisco CSCO said it was buying Splunk SPLK in a deal valued at about $28 billion, or $157 a share in cash, for the cloud-security company. The match had been speculated…
Nippon Television Holdings shares JP:9404 rose sharply Friday morning following its plan to acquire shares in Studio Ghibli to make the animation powerhouse a subsidiary. The shares were recently 12% higher at 1,544.0 yen ($10.46) after rising as much as 22% earlier. Nippon Television said Thursday after market close that it would become the…
Darden Restaurants Inc., parent company of brands including Olive Garden, LongHorn Steakhouse and Yard House, posted better-than-expected fiscal first-quarter earnings on Thursday, boosted by the addition of 77 restaurants from Ruth’s Chris Steak House, which it acquired in June. The company DRI had net income of $194.5 million, or $1.60 a share, for the quarter…
Toshiba Corp. JP:6502 said Thursday that a tender offer to take the company private ended successfully. The Japanese industrial giant in March agreed to a takeover proposal made by a consortium led by Tokyo-based private-equity firm Japan Industrial Partners that valued the company at about 2 trillion yen ($13.48 billion). Toshiba said about…
Private-equity firm KKR has agreed to buy a 20% stake in the regional data-center business of Singapore Telecommunications for 1.1 billion Singapore dollars (US$800.0 million). The telecom company said Monday that the investment to be made by a fund managed by KKR puts the enterprise value of Singtel’s overall regional data-center business at S$5.5 billion….
Shares of chip-equipment suppliers fell Friday following a report that third-party chip fab Taiwan Semiconductor Manufacturing Co. was delaying deliveries to a facility under construction in Arizona because of concerns about demand. The Reuters report, which cited two unnamed sources, said that TSMC TSM, -2.43% was looking to control costs with its latest directive to…
The meme stock phenomenon that sent shares of GameStop Corp. skyrocketing to dizzying heights in 2021 is getting the Hollywood treatment in the new movie “Dumb Money,” which hits select theaters Friday, but don’t expect any repeat of the events of 2021, says Dan Raju, CEO of cloud-based financial services provider Tradier. “[The movie is] expected…
Everton Football Club owner Farhad Moshiri has agreed a deal to sell the storied Premier League club to Miami-based private investment firm 777 Partners — and its supporters are unhappy. If the deal is successful, 777 Partners would join a growing list of American Premier League club owners that includes the U.S. sports mogul Stanley…
It’s an iCatch 22. Is Apple’s iPhone 15 so valuable to consumers that you’re better spending your money on the device instead of the company’s stock? Or is it such a minor upgrade on the previous version that you should hold onto your iPhone 13 or 14, and use your hard-earned cash to bet on…
Qualcomm Inc. will supply modem chips for Apple Inc.’s iPhones for at least three more years, removing a financial pothole in Qualcomm’s path and suggesting Apple’s attempt to make its own chips is moving slower than expected. Shares of Qualcomm QCOM, +3.90% jumped about 4% on Monday. Qualcomm announced Monday morning that under a new…
Shares of Hostess Brands Inc. shot up into record territory Monday after the Twinkies and HoHos maker announced an agreement to be acquired by J.M Smucker Co. in a cash-and-stock deal valued at $5.6 billion. The stock TWNK, +0.86% jumped 17.9% in premarket trading, to put it on track to open well above the current…
J.M. Smucker Co. is nearing a deal to buy Twinkies maker Hostess Brands Inc., the Wall Street Journal reported Sunday night. According to the Journal, which cited sources familiar with the matter, the acquisition could be worth roughly $4 billion, and could be announced as soon as Monday. Last month, Smucker SJM, +0.88% raised its…
Shares of Apple Inc. looked poised to further their selloff Thursday amid new concerns about the company’s China business. After the Wall Street Journal reported Wednesday that China had banned government officials from using iPhones for work purposes, Bloomberg News said overnight that Chinese officials could extend that ban to government-backed agencies and state companies….
Apple Inc.’s emerging threat in China could be a blast from the past. BofA Securities analyst Wamsi Mohan is curious about whether Huawei could put a dent in Apple’s AAPL, +0.13% China momentum as it enjoys a technological rebound. Apple has been able to gain smartphone share at the expense of Huawei in recent years,…
Blackstone Inc.’s stock rose Tuesday after the company was included as a component of the S&P 500 index some 16 years after the private-equity firm went public. Blackstone’s stock BX, +4.13% advanced 3.8% as a spokesperson for the company said its inclusion in the S&P 500 marks “another important milestone” for the private-equity firm, after…
Wedbush Securities analyst Dan Ives raised eyebrows this week by declaring it a “no-brainer” for Apple to acquire ESPN from The Walt Disney Co. at a potential price of $50 billion. The tech giant made its biggest move into live sports so far with a 10-year, $2.5 billion streaming deal with Major League Soccer a year ago,…
Shares of Robinhood Markets Inc. charged higher Friday after the trading-app operator disclosed that it has bought back the 55.3 million shares that had been seized by the U.S. government. The company disclosed in an 8-K filing with the Securities and Exchange Commission that it paid about $605.7 million for the shares, which were being…
I will try to make a very long story short. At 66, I found out quite by accident via Ancestry.com that my father wasn’t my biological father. Nearly everyone involved is dead now, so getting answers has been difficult. The gist is that when my biological dad (he was 18, my mother 16) was confronted…
Canopy Growth issued 15.2 million common shares to Les Serres Stephane Bertrand as part of an amended agreement for the Canadian cannabis company to buy a 45% stake in Les Serres Vert Cannabis. Canopy Growth WEED, +9.09% CGC, +13.24% owns 55% of Les Serres Vert Cannabis. If the deal is completed, Canopy Growth will own…
A pair of classic American brands had opposite days Friday as shares of one logged their best day ever on reports of a possible sale, while the other’s stock struck a record poor performance after a report of a pending bankruptcy. Earlier Friday, shares of Rite Aid Corp. RAD, -51.04% plummeted after the Wall Street…