Financial News

Bonds Drop as Data, Equities Improve – 10-Year 1.77%

U.S. Treasuries turned lower Monday as manufacturing data improved and equity markets headed higher. St. Louis Federal Reserve President James Bullard reiterated that one 25 basis point rate hike was on the table as inflation and jobs data are near target levels, but he offered no hint on timing. FallingRead More

Altra Industrial Motion Acquires Stromag in Deal Estimated at $215.5 Mln

Altra Industrial Motion (AIMC) said Friday it has acquired GKN’s Stromag business for an estimated $216 million comprised of EUR184 million ($200.5 million) in cash and the assumption of EUR14 million in debt, the company said Friday. The deal brings the company another expected line of revenue, as Stromag broughtRead More

Jobless Claims Rise More Than Expected as California, Pennsylvania Lead Increase

Initial jobless claims rose more than expected in the week that ended on Oct. 15 as California, Pennsylvania and Texas all saw increases, the Department of Labor said in a report on Thursday. Claims rose by 13,000 from the previous week’s revised level to 260,000, missing estimates for an increaseRead More

Golar LNG Up 3% as Golar Power JV Approves Final Investment For Porto de Sergipe Project in Brazil

Golar LNG (GLNG) shares were up pre-market Monday after the company’s joint venture Golar Power said it approved a final investment decision on the Porto de Sergipe Project in Brazil. The final investment decision will enable project firm CELSE to seal a lump sum, turn-key EPC agreement with General ElectricRead More

Wells Fargo Q3 EPS, Revenue Top Expectations; Shares Edge Higher Pre-Bell

Wells Fargo (WFC) inched higher in premarket trading after the bank holding company reported Q3 results that beat Wall Street expectations. Shares rose as much as 0.7%. EPS decreased to $1.03 in the September quarter, from $1.05 in the year-ago period. That beat the $1.01 average estimate of analysts polledRead More

ContraVir Pharmaceuticals Stock Jumps on Positive Results From Hepatitis B-Drug Trial

ContraVir Pharmaceuticals Inc (CTRV) stock jumped almost 28% after the company presented positive interim data for CMX157, an equivalent to tenofovir, to treat hepatitis B. The head-to-head study is the first evaluation of CMX157 in HBV patients, and directly compares CMX157 to Gilead’s (GILD) tenofovir disoproxil fumarate, known as Viread.Read More