U.S. stocks end lower for a second straight session Wednesday as investors digest mixed earnings results and economic data, while a lack of progress on the Beijing-Washington tariff dispute remained a headache.
(Bloomberg) -- Chinese video-game live-streaming platform DouYu International Holdings Ltd. ended flat in its trading debut after its $775 million U.S. initial public offering.Shares of the company, backed by Tencent Holdings Ltd., closed their first day of trading Wednesday at $11.50, the same price as when they were sold in its IPO on Tuesday.DouYu, which delayed its listing amid market jitters in May, sold 44.9 million American depository shares and its investors sold another 22.5 million. The shares, which which had been priced at the bottom of the marketed range, opened down 4.2% and ...
(Bloomberg) -- U.S. stocks fell as investors assessed mixed corporate earnings amid concern over the U.S.-China trade spat. Treasuries rallied.Industrials led the S&P 500 Index below 3,000, with CSX Corp. plunging 10% after a weakened sales forecast stoked fears of a prolonged freight slump. The Dow Jones Transportation Average, a barometer of economic growth, tumbled. Bank of America Corp. advanced as gains in its retail division drove overall profit to a record. In after-hours trading, Netflix Inc. sank on a surprise loss of U.S. customers for the second quarter, while International ...
CSX has been recognized as a “Best Place to Work for Disability Inclusion” by Disability:IN and the American Association of People with Disabilities (AAPD), scoring 100 percent on the 2019 Disability Equality Index (DEI). “CSX has participated in the DEI survey in the past and we have been recognized on the ‘Best Places’ list, but this is the first time we have achieved the 100 percent milestone,” said Stephanie Noel, vice president of human resources and chief diversity officer. Now in its fifth year, the index, developed by Disability:IN and the AAPD enables America’s leading corporations ...
U.S. stock indexes fell on Wednesday as weak results from CSX Corp stoked concerns that the protracted trade war between the United States and China could hurt corporate earnings. CSX shares tumbled 10.3%, their biggest one-day drop since 2008, after the rail freight company posted lower-than-expected quarterly profit and cut its full-year revenue forecast.
(Bloomberg) -- CSX Corp. plunged the most since the 2008 financial crisis after a weakened 2019 sales forecast stoked fears of a prolonged freight slump.“CSX’s volume performance fell off in June and early July and they do not have visibility to improvement in the near term,” Thomas Wadewitz, an analyst with UBS Group AG, said in a note to clients Wednesday. “In addition to weakness in industrial markets, management indicated that excess truckload capacity is a headwind in intermodal.”The dimmer outlook set CSX up for its first drop in annual sales since 2016. Chief Executive Officer Jim ...
U.S. stocks finished lower Wednesday, extending losses into the close of trade, adding to a drop spurred by President Trump's downbeat comments on China trade negotiations. A report from the Federal Reserve's Beige Book, also reinforced fears that trade worries remain a top concern, even as the economy continues to chug along. The Dow Jones Industrial Average closed down 115 points, or about 0.4% to 27,220. The S&P 500 lost about 20 points, or 0.7%, to close at 2,984. The Nasdaq fell more nearly 40 points, or 0.5%, touching 8,185. Investors digested another round of corporate ...
Chinese automaker NIO (NIO) is at a crossroads.While investors were excited at the beginning of the year, this has waned as the company is facing increased challenges including a large drop in ES8 deliveries between Q4 2018 and Q1 2019, as well as a recall of about 5,000 vehicles. While the Chinese economy is slowing, the government also reduced the electric car subsidy by 50%, making NIO vehicles more expensive for customers. And on the financial end, the company was losing money with each sale during the first quarter.So what's next for NIO stock? UBS analyst Paul Gong is on the ...
Charlotte-based Bank of America Corp. again broke company records in its second-quarter earnings report released Wednesday morning. That success means reinvesting resources back into the business, Chief Executive Brian Moynihan said.
