Asian Stock Market
Test up on the companies making headlines sooner than the bell:
Kraft Heinz – 3G Capital offered 25.1 million shares of the meals producer at $28.44 per share, in step with a Securities and Alternate Payment submitting. 3G owns 245 million shares following that transaction.
Dwelling Depot – Guggenheim Securities downgraded the home enchancment retailer’s stock to “honest” from “capture,” noting a ramp up in the corporate’s capital spending and bills subsequent 365 days.
Anheuser-Busch – The beer brewer is re-launching an preliminary public offering (IPO) for its Asian business, searching for out to enhance up to $4.84 billion in a Hong Kong itemizing. It had abandon an earlier strive at a $10 billion IPO in July.
FedEx – FedEx will elevate its rates on January 6, 2020, although it also acknowledged it would per chance now not relate holiday season residential surcharges this 365 days. The January increases will be an average 4.9% for deliveries the employ of jets, and 5.9 p.c for ground transport.
Corning – The glass and optical plot maker reduce attend its sales forecast for TV and optical communication cable plot, pointing to capital spending cutbacks by several well-known telecommunications companies.
SeaWorld Leisure – SeaWorld Chief Executive Officer Gustavo Antorcha is leaving the theme park operator seven months after taking the job. Chief Monetary Officer Marc Swanson will abet as duration in-between CEO.
Shopify – Shopify announced plans to enhance money with a stock offering of 1.9 million shares. The e-commerce platform company plans to employ the money to help its balance sheet.
AT&T – AT&T reportedly compelled workers to fetch untrue DirecTV Now accounts to enhance subscribe numbers sooner than its 2018 acquisition of Time Warner. That’s in step with a Bloomberg narrative citing a lawsuit accusing AT&T of misleading investors.
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Frequent Motors – GM remains on peek as a strike by United Auto Workers workers continues, although talks between the two sides are ongoing.
Zynga – Stephens named the cell game maker as a “Finest Conception,” saying Zynga is well positioned for an expected consolidation in the cell gaming market over the next six to 18 months.
Match – Citi rates the dating provider operator a “capture” in new coverage, although it also labels the stock “excessive risk.” Citi acknowledged consumer perception continues to make stronger and that Match has a compelling opportunity in the global market.
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