BoC’s Outlook Survey Reveals Ongoing Positive Business Sentiment

BoC’s Outlook Survey Reveals Ongoing Positive Business Sentiment

The Bank of Canada’s Outlook Survey revealed ongoing positive business sentiment nationally, although several survey indicators moderated from strong summer results. The survey showed expectations for sustained sales growth across regions, building on solid summer results. Firms in some sectors anticipate a return to a more sustainable pace. Investment and employment indicators moderated from recent highs, consistent with continued, though somewhat less widespread plans to boost hiring and investment. A […]

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Euro-Dollar Interest Rate Futures Pop Higher

Euro-Dollar Interest Rate Futures Pop Higher

Euro-dollar interest rate futures popped higher with the tame core consumer price index reading that still managed to trump the University of Michigan surge, since the bounce in the short-dated rate contracts had some stamina. Fedspeak from doves Eric Rosengren and Charles Evans has been about as expected, though neither appeared likely to stand in the way of a December hike per se. Hawk Robert Kaplan was due to begin […]

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Asian Stock Markets Mixed, Muted, Closed On Holiday

Asian Stock Markets Mixed, Muted, Closed On Holiday

Asian stock markets were muted Thursday, with Tokyo trading flat, and Hong Kong, Shanghai and Seoul closed on holiday. With regional markets near record highs, traders are in a holding mode and awaiting the U.S. Friday jobs report or other cues, said analysts. In Tokyo, the Nikkei 225 traded flat, closing up 0.01%, as traders took profits from a market near two-year highs, and took to sidelines ahead of the […]

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Oppenheimer Raises GrubHub Target Price

Oppenheimer Raises GrubHub Target Price

Oppenheimer raised GrubHub Increasing PT to $60 from $52, reiterating its outperform rating, on its pro forma analysis of recently announced acquisitions of Eat24, OrderUp O&O and Foodler. The broker estimates acquisitions will be 17% accretive to 2019 GFS, 14% accretive to 2019 revenue and 18% accretive to 2019 EBITDA.

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Consolidated Communications Q2 Results Top Estimates

Consolidated Communications Q2 Results Top Estimates

Consolidated Communications Holdings reported Thursday Q2 adjusted net profit of $0.16 per share, up from $0.20 per share in the prior year period and came in higher than the $0.08 per share Street estimate provided by Capital IQ. Net revenues were $170 million, down from $186.9 million reported for the same period last year and came in higher than the $169.7 million Street estimate. For 2017, the company expects capital […]

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AbbVie, Principia Form Collaboration

AbbVie, Principia Form Collaboration

AbbVie, a biopharmaceutical company, said pre-market Tuesday it has formed a collaboration with Principia Biopharma, a clinical-stage biopharmaceutical company, for the development of oral immunoproteasome inhibitors. Financial terms were not disclosed. The collaboration is aimed at developing first-in-class oral therapies that bring the power of proteasome inhibition safely into the field of immunology. “The combination of AbbVie’s world-class expertise in immunology drug development with Principia’s innovative approach to immunoproteasome inhibitors […]

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U.S. Stocks Drop As Investors Question Whether Trump Can Deliver on Tax Cuts

U.S. Stocks Drop As Investors Question Whether Trump Can Deliver on Tax Cuts

U.S. stocks were lower at mid-day as President Donald Trump’s failure to deliver on his health care reform package sparked worries he may have trouble delivering on other campaign promises to ignite the economy. European and Asian stocks also closed lower on the failed health care bill. Investors are now growing skeptical of Trump’s plans for tax cuts and fiscal stimulus, including infrastructure spending, as well as solidarity among Congressional […]

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